Economy

Sindh CNG outlets reopen today

KARACHI: All the CNG stations in Sindh would reopen today (Thursday) at 8 AM after 24-hour closure. Long queues of vehicles were witnessed at CNG outlets much before the scheduled reopening time at 8.00 AM. Motorists, transporters and commuters equal...

Asian markets rise

HONG KONG: Asian markets rose Thursday after the Dow on Wall Street hit a more than five-year high, while the head of the European Central Bank soothed concerns over the eurozone. A strong bond sale in Italy also helped the euro despite uncertainty a...

Petroleum Ministry rejects fuel price summary

ISLAMABAD: The summary seeking an increase in the price of petroleum products has been rejected by Pakistan’s petroleum ministry. The Petroleum Ministry stated that the profit of oil marketing companies had not been included in the summary. On Tuesda...

Banks buoy Karachi Stock Exchange up

KARACHI: Pakistan's stock market closed higher on Thursday, supported by Muslim Commercial Bank and Engro Corporation, traders said. The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.51 percent, or 92.77 points, higher at 18,173.67...

Ogra notifies a hefty hike in petroleum prices

ISLAMABAD: The Oil & Gas Regulatory Authority has notified an upward revision in petroleum products prices, media reported. The new prices take effect from March 1, 2013(Thursday midnight). According to the notification issued, the petrol has been ma...

EU to resume Pakistan fish imports after six years

ISLAMABAD: The European Union is to resume imports of seafood from Pakistan, officials said, ending a six-year suspension imposed over hygiene fears. Pakistani fish exports to the European Union were worth 50 million euros ($66 million) a year until ...

Britain's MoD under fire for 'wasting' £1.5 billion

LONDON: Lawmakers slammed Britain's Ministry of Defence on Thursday after it was revealed that between 2009 and 2011 it bought £1.5 billion worth of equipment more than it used. A report by a cross-party committee of MPs identified £3.4 billion ($5.1...

Five mental disorders have common gene problem

PARIS: Five major psychiatric disorders share a common problem in several faulty genes, according to the biggest study of its kind published on Thursday. In the widest trawl yet of genetic mutations linked with mental disorders, US-led researchers lo...

Iran tells Zardari pipeline must advance despite US opposition

TEHRAN: Iran's supreme leader Ayatollah Ali Khamenei on Wednesday urged the visiting President Asif Ali Zardari to press ahead with a much-delayed $7.5 billion gas pipeline project despite US opposition. "The Iran-Pakistan gas pipeline is an importan...

Africa, Asia lead 'mobile money' boom

BARCELONA: Africa and Asia are leading a global boom in the use of "mobile money" as millions turn to their mobile phones instead of coughing up cash or handing over credit cards. In 2012, more than 30 million people were actively using mobiles to ma...

Tauqeer Sadiq likely to be deported today

ABU DHABI: Former Oil and Gas Regulatory Authority (OGRA) chairman Tauqeer Sadiq, allegedly involved in Rs82billion scam, would likely to be deported from the United Arab Emirates (UAE) today (Thursday), sources said. According to the sources, all th...

Major hike in POL prices likely from March 1

ISLAMABAD: A major hike in prices of petroleum products is likely from March 1, as Oil and Gas Regulatory Authority (OGRA) has already forwarded a proposal to the Ministry of Petroleum seeking a per litre increase of Rs3.52 in the price of petrol. Ac...

KSE benchmark 100-share index gains 186 points

KARACHI: The Karachi Stock Exchange's (KSE) benchmark100-share index ended 1.04 percent, or 186.01 points, higher at 18,080.90. Stock market closed higher on Wednesday, supported by an interest in power and oil companies, traders said. Hub Power, a p...

CNG stations closed for 24 hours in Sindh

KARACHI: CNG stations in Sindh including Karachi have been closed for 24 hours that started from 8 am Wednesday, media reported. According to Sui Southern Gas Company sources, CNG filling stations have suspended the supply following the gas load mana...

Dollar mixed in Asia

TOKYO: The dollar was mixed in morning Asian trade after Federal Reserve head Ben Bernanke said the bank's stimulus policies would remain in place, while Europe concerns saw investors flocked to the safe-haven yen. Bernanke quelled speculation over a...

Oil rebounds in Asia but Italy deadlock weighs

SINGAPORE: Oil prices rebounded in Asia Wednesday but analysts said sentiment remains hobbled by fears that deadlock in the Italian elections could derail the eurozone's nascent recovery. Just as the eurozone's woes appeared to be easing, the results...

Pak exports $1.05 bln of seafood in 5 yrs

ISLAMABAD: Pakistan has earned more than US $ 1.05 billion through exports of seafood to different countries during last five years. Of the total exports, in 2007-08 the country earned US $ 132 million, in 2007-08 US $ 133 million, in 2008-09 US $ 18...

Pakistan repays $391.8m to IMF

KARACHI: Pakistan on Tuesday successfully paid its tenth installment of the loan it received from the International Monetary Fund (IMF) under the Standby Arrangement signed in 2008. The installment amounts to 258.4 million SDR (Special Drawing Right...

SC for immediate steps to bring back Tauqir Sadiq

ISLAMABAD: A three-member bench of Pakistan’s top court Tuesday directed authorities to take immediate steps for making deportation of former Oil and Gas Regulatory Authority chairman Tauqir Sadiq possible. The bench, comprising Chief Justice Iftikh...

ECC approves interim business plan for PIA

ISLAMABAD: The Economic Coordination Committee (ECC) of the Federal Cabinet Tuesday approved an interim business plan presented by the Pakistan International Airlines (PIA) for next five years. The ECC also allowed the Ministry of Finance to issue c...

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