Economy

GSP plus application to be submitted in March

ISLAMABAD: Pakistan would submit an application with the European Commission by the middle of March for availing the GSP plus duty advantage for its exports, according to commerce ministry here, media reported. Talking to Geo News, commerce ministry ...

Oil down as Italy polls spark new eurozone fears

SINGAPORE: Oil prices were down in Asia on Tuesday after inconclusive Italian national elections threatened instability in the country and disrupt the eurozone's recovery, analysts said. New York's main contract, light sweet crude for delivery in Apr...

Land prices increase as Gawadar port handed over to China

GAWADAR: Real estate agents see a growing trend in land prices in Gawadar as Pakistan formally handed over Gawadar port operations to all-weather friend China this month. According to people associated with real estate business, land prices had decli...

Margin of marketing companies, dealers raised on oil

ISLAMABAD: Economic Coordination Committee (ECC) has decided to raise the margin of Oil Marketing Companies and dealers on petrol and diesel, media reported. The meeting of ECC, presided over by Finance Minister Salim Mandiwala held here on Tuesday a...

KSE 100-share index sheds 125 points

KARACHI: The Karachi Stock Exchange's (KSE) benchmark100-share index ended 0.70 percent, or 125.61 points, lower at 17,894.89. Stock market closed lower on Tuesday, after investors sold shares in a telecom company that had been steadily rising this w...

Pakistan pays 10th installment to IMF under SBA

KARACHI: Pakistan on Tuesday successfully paid the 10th installment amounting to SDR 258.4 million equivalent to US $391.8 million on account of Stand-By Arrangement (SBA) to the International Monetary Fund (IMF), said spokesman State Bank of Pakista...

‘Power supply restored across country’

ISLAMABAD: The electricity supply that was cut off late Sunday night due to a major breakdown, has been restored in all parts of the country. A spokesman of the Ministry of Water and Power said that thetechnical fault developed at Hubco Power Plant h...

HP sells webOS to LG ahead of Android tablet

SAN FRANCISCO: Hewlett-Packard on Monday said it is selling its webOS mobile operating system to South Korean consumer electronics titan LG to use in Internet-connected televisions. "The open and transparent webOS technology offers a compelling user ...

Petroleum products prices likely to go up next month

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) is likely to recommend an upward revision in fuel prices from March 1, 2013, media reported. According to sources privy to the matters of ministry of petroleum, the price of petrol may be jacked ...

Railways faces fuel crisis after cheque bounces

LAHORE: Pakistan State Oil (PSO) has suspended the supply of diesel to Pakistan Railways after a cheque issued by the latter to the former bounced here on Saturday, media reported.The sources quoted Pakistan Railways authorities as saying that the fu...

Asian markets rise, yen sinks

HONG KONG: Asian markets rose on Monday, with Tokyo surging after the yen hit a near three-year low against the dollar, while concerns the US Federal Reserve could soon end its loose policy were eased. Investors cheered reports that the choice of Jap...

KSE sheds gains as companies claim profits; rupee weak

KARACHI: Pakistan's stock market closed lower on Monday after companies booked profits, traders said. The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.30 percent, or 53.77 points, lower at 18,020.50. "Profit taking was seen from s...

KSE-100 index gains 159.25 points

KARACHI: Karachi Stock Exhcnage (KSE) closed higher on Friday after the index crossed 18,000 points, boosted by buying from foreign fund managers in the last few days. The KSE benchmark 100-share index ended 0.86 percent, or 153.25 points, higher at ...

ECC allows import of parts of CNG kits

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved disposal of the entire wheat reserve stock, by the Punjab government till the cut-off date of March 31. The ECC, which met here with Federal Finance Minister Salee...

Sui, Qadirpur gas reserves to run dry by 2022: Dr Asim

ISLAMABAD: Advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Saturday said that the reserves in Sui and Qadirpur gasfields would run dry by year 2022, media reported. He said this while speaking at a seminar here organized by the P...

Oil falls in Asia

SINGAPORE: Oil prices were down in Asia on Monday as dealers awaited the outcome of the Italian elections that could weaken the eurozone's single currency, analysts said. New York's main contract, light sweet crude for delivery in April, dropped 11 c...

Railways debt has run up to Rs58,603mn , NA told

ISLAMABAD: Minister for Railways Haji Ghulam Ahmad Bilour on Monday informed the National Assembly that Pakistan Railways (PR) total payables stood at Rs58,603.363 million till January while its total loss at Rs34,037.322 million so far. Replying to ...

Power breakdown probe committee set up

ISLAMABAD: Ministry of water and power Monday set up a four-member enquiry committee on rare prolonged countrywide power breakdown since Sunday night till this morning, media reported. Member Wapda, Qasim Khan will be heading the committee, while Dir...

PM Raja takes notice of power breakdown

ISLAMABAD: Prime Minister Raja Pervez Ashraf has taken notice of a rare power breakdown that pushed the entire country into darkness late Sunday night. The premier got cognizance from officials in the ministry of water and power about the fault that ...

Water and Power secy puts ‘power breakdown rumours’ to rest

ISLAMABAD: Water and Power Secretary Rai Sikandar put all the rumours to rest which had been doing the rounds since late night after major cities of Pakistan plunged into darkness due to a power breakdown. Addressing a press conference in the early h...

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