Economy

Oil down in Asia

SINGAPORE: Oil prices were lower in quiet Christmas eve trade Monday with traders discouraged by a political stalemate in the US over a deal to avert the fiscal cliff, analysts said. New York's main contract, light sweet crude for delivery in Februar...

Yen slips as Abe steps up pressure o BoJ

SINGAPORE: The yen dipped against the greenback and euro in Asian trade Monday as incoming Japanese premier Shinzo Abe stepped up pressure on the Bank of Japan to set a two percent inflation target. The euro bought 111.26 yen in early Christmas eve t...

APTMA convenes meeting against power cut

LAHORE: The power supply to textile industry has bee cut in Punjab for indefinite period, media reported on Monday. Reacting over the move, All Pakistan Textile Mills Association (APTMA) has convened an emergency meeting to chalk out future course of...

Putin in India with eyes on arms deals

NEW DELHI: Russian President Vladimir Putin held talks in New Delhi on Monday to tighten defence ties and boost trade with India, a traditional ally and one of Russia's top clients for arms sales. Accompanied by several senior ministers and military ...

7 killed in Hangu coal mine explosion

HANGU: At least seven labourers were killed and 50 others injured in a coal mine explosion in Doli area of Lower Orakzai Agency in Hangu, media reported on Monday. Geo News correspondent said that accumulation of gas in the coal mine caused a huge ex...

Fire destroys market in Afghan capital

KABUL: A huge fire swept through a market in downtown Kabul on Sunday, destroying hundreds of shops and forcing the city's nearby money exchange to evacuate, police and witnesses said. There were no reports of any casualties in the early morning blaz...

Ogra sends CNG pricing formula to ECC

ISLAMABAD: Oil and Gas regulatory Authority (Ogra) has sent CNG pricing formula to Economic Coordination Committee (ECC), media reported. Talking to Geo News, Chairman Ogra Saeed Ahmed said according to new formula Rs72.20 per kg and Rs63.76 per kg p...

China to open longest high-speed railway

BEIJING/ZHENGZHOU: China will open the world's longest high-speed rail line next week when a link between Beijing and the southern metropolis of Guangzhou is inaugurated, officials said on Saturday, underscoring its commitment to a trouble-plagued tr...

Meera's Bungalow Sealed

LAHORE : The Excise Department Lahore region has sealed film star Meera's bungalow in Lahore for non-payment of taxes. According to the Excise Department Lahore region, two hundred and twenty seven thousand rupees (Rs. 227,000) was outstanding on the...

Sindh CNG stations closed for 24 hours

KARACHI: The CNG stations across Sindh including Karachi have been closed from 8 am for 24 hours, media reported Saturday. According to the gas load management schedule provided by the Sui Southern Gas Company, the CNG supply to the stations in Sindh...

Sri Lanka arrests 100 Chinese for fraud

COLOMBO: Police in Sri Lanka have arrested 100 Chinese nationals for currency fraud in a string of raids in and around the capital Colombo, officials said Saturday. "They have defrauded their countrymen by making them... transfer money to accounts ma...

Gas to Punjab industries suspended again

FAISALABAD: The gas supply to industrial sector in Punjab areas including Faisalabad has been suspended once again Saturday, media reported. According to the schedule provided by Sui Northern Gas Company, the industries in Faisalabd, Bahawalpur, Sarg...

Petrol price decreased by Rs1.23

ISLAMABAD: The price of petrol has been reduced by Rs1.23 per litre from Rs102.65 to Rs101.42 per litre, media reported Saturday. According to a notification issued by the Oil and Gas Regulatory Authority, the price of high speed diesel (HSD) went up...

Obama for scaled-back 'fiscal cliff'

WASHINGTON: US President Barack Obama Friday told lawmakers to go home and drink some Christmas egg nog before coming back to Washington to pass a scaled-down tax package to avert a year-end fiscal crisis.Obama said he still wanted a comprehensive an...

Lady drug peddler arrested

LAHORE: South Cantonment Police claimed to have arrested a lady drug peddler and recovered one Kilogram of hashish from her possession. Police sources said that on information, the police conducted a raid and arrested the accused Razia Bibi when she ...

New CNG prices likely today: OGRA

ISLAMABAD: After the Supreme Court declared the current CNG pricing formula null and void and ordered to formulate the new formula, Oil and Gas Regulatory Authority (OGRA) Chairman Saeed Ahmed Khan said that new prices are likely to be announced Frid...

KSE 100-share index ends lower

KARACHI: The Karachi Stock Exchange's (KSE) benchmark100-share index ended 0.25 percent, or 42.68 points, lower at 16,865.34. Stocks closed lower on Friday amid concern over the falling rupee. Recent cuts in policy rate were in line with market expec...

POL prices to change on December 22

ISLAMABAD: The Petroleum Ministry on the recommendation of the Finance Ministry has approved a change in the prices of petroleum products. The new prices will be applicable from December 22. The prices of petrol and kerosene oil will be decreased, wh...

527 wine bottles, 8.19 kg hashish seized

ISLAMABAD: Islamabad Police have arrested 14 outlaws including three female drug pushers and recovered a total of 8.19 kilogram hashish, weapons, 527 wine bottles and looted items from their possession, a police spokesman said on Thursday. Following ...

CNG pricing: OGRA formula declared void

ISLAMABAD: The Supreme Court of Pakistan (SC) has announced its verdict in the Compressed Natural Gas (CNG) pricing case and declared the pricing formula presented by the Oil and Gas Regulatory Authority (OGRA) null and void, media reported Friday. A...

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