Economy

Smartphones to light up Sydney show

SYDNEY: Sydney's world-famous New Year's Eve fireworks will go interactive with a smartphone-powered light show, officials announced Thursday, with ambassador Kylie Minogue calling on the city to embrace. The light show, described by City of Sydney o...

Resolution in SA against Kalabagh dam

KARACHI: A resolution has been presented in the Sindh Assembly against construction of Kalabagh Dam, media reported. The resolution, condemns constructions the dam, was presented by PPP MPA Imran Zaffar Laghari....

CNG stations reopen in Sindh

KARACHI: Compressed Natural Gas (CNG) pumps resumed supply of commodity after 48-hour closure in Sindh including commercial hub Karachi, media reported. Long queues of vehicles were witnessed at the pumps before reopening at 12:00 AM Thursday. CNG st...

OGRA submits reply in CNG price case

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has submitted reply in the Supreme Court pertaining to CNG prices, media reported.Two-member bench headed by Justice Jawad S Khawaja was hearing the case. OGRA in its reply stated that the authority ...

No CNG for vehicles over 1000cc: summary

ISLAMABAD: The Ministry of Petroleum has chalked out a proposal seeking a ban on use of Compressed Natural Gas (CNG) as fuel by vehicles over 1000 cc with the exception of public transport, media reported Wednesday. The proposal will be presented bef...

SC rejects plea to increase CNG prices

ISLAMABAD: Supreme Court (SC), while rejecting the plea to provide relief by increasing CNG prices, has sought details of the tariff accounts on Wednesday, media reported. A two-member bench of the SC headed by Justice Jawad S Khawaja, heard CNG pric...

Karachi: Signboards banned for 3 months

KARACHI: Karachi Municipal Corporation (KMC) has banned installing all kinds of signboards, billboards and hoardings in the city for the next three months, media reported Wednesday. After a meeting on Tuesday, KMC Administrator Muhammad Hussain Syed ...

No Kalabagh dam without Sindh approval

RAIWIND: PML-N President Nawaz Shairf said Wednesday that the construction of the Kalabagh Dam was not possible without the consent of the people of Sindh. Speaking to the media after meeting with political representatives of Sindh, the PML-N preside...

IMF loan surges by 20pc, as rupee erodes

KARACHI: International Monetary Fund (IMF) loan has increased by 20 percent due to the persistent fall in the value of rupee against dollar during the last four years, media reported on Wednesday. Pakistan has already paid back $2.28 billion to IMF, ...

Corruption in Pakistan on the rise: TIP

ISLAMABAD: The Transparency International Pakistan on Wednesday issued annual report over corruption in 2012, raising the Pakistan rank from 42 to 33. The 2012 index ranks 176 countries by their perceived levels of public sector corruption. The index...

Oil prices up in Asian trade

SINGAPORE: Oil prices were higher in Asian trade on Wednesday but sentiment was weighed by uncertainty over untangling a gridlock in US budget talks. New York's main contract, light sweet crude for delivery in January was up 17 cents to $88.67 a barr...

Asian markets higher, lifted by US hopes

HONG KONG: Asian markets rose Wednesday on hopes for progress in talks in Washington aimed at avoiding the fiscal cliff, while Australia said its economy grew in line with forecasts in the third quarter. The dollar and euro continued to enjoy support...

Crude oil prices fall

SINGAPORE: Crude prices fell in Asia Tuesday after data showed US manufacturing activity contracted last month, while dealers grow concerned at the lack of progress on a deal to avert the fiscal cliff. New York's main contract, light sweet crude for ...

‘Govt plans to gradually phase out CNG’

ISLAMABAD: The government has planned to gradually do away with the CNG industry and the commodity would be available only for 1000 CC vehicles and public transport to use it as fuel, said Advisor to PM on Petroleum Dr. Asim Hussain, media reported. ...

Euro eases in Asia after rally

TOKYO: The euro eased in morning Asian trade on Tuesday after hitting a six-week high in New York as Greece launched its bid to buy back privately held debt at a big discount, a key part of Athens' bailout plan. The single currency bought $1.3048 and...

Karachi stocks scale new peak

KARACHI: Stocks hit a record high for the fifth time in six sessions on Tuesday, supported by expectations that the central bank will ease rates later this week. The Karachi Stock Exchange's (KSE) benchmark 100-share index surged as high as 16,675.94...

Rupee gains vs US dollar; o/n rates flat

KARACHI: In the currency market, the rupee strengthened to 96.50/96.57 against the dollar, compared to Monday's close of 96.57/96.62. Overnight rates in the money market remained flat at 7.00 percent. ...

President to ink IPI pact soon: Iran

TEHRAN: Iran foreign ministry spokesman has said that Pakistan President Asif Zardari will soon be inking an agreement on Iran-Pakistan-Iran (IPI) gas pipeline project. Talking to media persons here, Ramin Mehmanparast said there existed ample space ...

Domestic consumers face low gas pressure

ISLAMABAD: With the weather turning colder day by day, the pressure of the domestic gas seems to be dying down forcing the consumers to demand of the government to prioritizing the gas distribution mechanism to resolve their problems. Inconsistent ga...

No tax on incoming international calls

LAHORE: The Pakistan Telecommunication Authority has announced to abolish the tax on incoming international telephone calls. The PTA has issued a notification regarding abolishing the tax. The PTA has cancelled the agreement made with LDI operators o...

«Previous