Economy

Dollar surges to multi-year highs on yen in Asia

TOKYO: The US dollar surged in Asian trade on Friday after topping the 100 yen level for the first time in four years, but analysts warned that the Japanese unit's sharp drop was a double-edged sword. The greenback changed hands at 101.01 yen in midd...

Oil up in Asian trade

SINGAPORE: Oil was up in Asian trade Thursday as a surprise rise in German industrial production brightened the market's outlook for European and global growth, analysts said. New York's main contract, light sweet crude for delivery in June added fiv...

Yen firmer against dollar in Asia

TOKYO: The yen was firmer against the dollar in Asia on Thursday with few fresh market leads ahead of the Group of Seven meeting of finance chiefs starting Friday. In Tokyo trade, the euro fetched $1.3157 and 129.92 yen against $1.3156 and 130.35 yen...

Oil down in Asia

SINGAPORE: Crude prices were lower in Asian trade Friday on a rise in US stockpiles, with the strong dollar also putting pressure on prices, analysts said. New York's main contract, light sweet crude for delivery in June shed 24 cents to $96.15 a bar...

Huge cyber bank heist nets $45 million in 27 countries

NEW YORK: Cyber thieves around the world stole $45 million by hacking into debit card companies, scrapping withdrawal limits and helping themselves from cash machines, US authorities said Thursday. The massive heist unfolded "in a matter of hours," s...

Pakistani beheaded in Saudi for drug trafficking

RIYADH: Saudi authorities on Wednesday beheaded a Pakistani man found guilty of smuggling drugs into the conservative Muslim kingdom, the interior ministry said. The man was caught attempting to smuggle an amount of heroin hidden inside his stom...

Tauqir Sadiq gets three years in jail

RAWALPINDI: An anti-terrorism court (ATC) on Tuesday convicted former OGRA chairman Taquir Sadiq for his involvement in Rs 82 billion scam. The conviction carries three-year prison sentence of hard labour. ATC judge Shahid Naseer announced the senten...

Euro under pressure in Asia

TOKYO: The euro was under pressure in Asian trade Tuesday, weighed by a European Central Bank interest rate cut and poor data from the eurozone. The ECB cut its key rates to an all-time low on Thursday and bank chief Mario Draghi said the institution...

Oil down on profit taking

SINGAPORE: Oil prices eased in Asia on Tuesday with dealers taking profits after a rally on robust US jobs data and rising tensions in the Middle East, analysts said. New York's main contract, light sweet crude for delivery in June dropped 57 cents t...

Euro up in Asian trade

SINGAPORE: The euro rose against the dollar in Asian trade Monday as a better-than-expected US April jobs report boosted hopes of resurgent growth in the world's biggest economy, analysts said. The euro was trading at $1.3125 in mid-morning Asian hou...

Oil higher in Asia

SINGAPORE: Oil was up in Asian trade Monday after an upbeat US jobs report bolstered confidence the US economic recovery is on track. US stocks surged to record highs following the report, with the buoyant mood also lifting the oil markets because a ...

KSE 100-share Index up 30 points

KARACHI: Stock prices witnessed gains at Karachi Stock Exchange (KSE) on the opening day of the week over expectations of general elections to be held as per the schedule on May 11. The benchmark KSE 100-share Index closed 30 points up to 19256.70 at...

Nawaz vows to end load shedding

KHANEWAL/SAHIWAL: Pakistan Muslim League-Nawaz chief Nawaz Sharif said on Monday that prolonged power outages have made people’s life miserable and pledged that he would rid the masses of this agony. Addressing a rally here, the former prime minister...

Solar plane takes off on cross-country US trip

MOFFETT AIRFIELD: The first-ever manned airplane that can fly by day or night on the sun's power alone took off Friday on the first leg of a trip across the United States. Solar Impulse, piloted by Swiss adventurer Bertrand Piccard, left the runway i...

Karachi Stock Exchange up by 192 points

KARACHI: The local capital market closed higher on Friday ahead of crucial elections that should mark the first transfer of power from one democratically elected government to another. The Karachi Stock Exchange's (KSE) benchmark 100-share index ende...

New gas reserves discovered in southern Pakistan

ISLAMABAD: Pakistan has discovered a new gas reserve in southern Sindh province that would help reduce acute gas shortages for industry and transport, the petroleum ministry said Friday. Italian energy major ENI with joint venture partners Pakistan P...

Asian shares rise after ECB rate cut

HONG KONG: Asian markets rose on Friday, boosted by a European Central Bank interest rate cut aimed at stimulating growth in the sluggish eurozone and a positive US jobless claims report. Shanghai was up 1.68 percent, Hong Kong gained 0.82 percent, a...

Oil takes breather in Asia after strong rally

SINGAPORE: Oil prices took a breather in Asian trade Friday as investors locked in profits after a strong rally following the European Central Bank's decision to cut interest rates. New York's main contract, light sweet crude for delivery in June, dr...

Designing best tool for rapid economic development‏

Creative Industry Centre, Image Bank inaugurated Islamabad: The United Nations Industrial Development Organization (UNIDO) and Iqra University on Thursday launched a Creative Industry Centre and Image Bank at the university’s Islamabad campus to sup...

Dollar under pressure in Asia

TOKYO: The dollar was under pressure in Asian trade Thursday after the US Federal Reserve opted to keep its easy-money policies in place on the back of lacklustre economic data. After wrapping up a policy meeting Wednesday, the US central bank said i...

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