Economy

KSE draws strength for rate-cut hopes

KARACHI: Equities in the local capital market rose on Thursday, supported by expectations that the central bank will ease interest rates at its monetary policy meeting on Friday. The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,806...

Registrar won’t appear before PAC:SC

ISLAMABAD: The Supreme Court Registrar will not appear before the Public Accounts Committee of the Parliament, said a statement issued by the office of the apex court on Thursday. The statement said that though the Supreme Court saw the parliamentary...

Gaza perfume sales soar with rocket name

GAZA: Sales of a citrus-scented perfume marketed in Gaza have soared since it was named in honor of the rockets that Palestinians shot at Israel during a war last month, the manufacturer said. "M-75" perfume, which comes in men's and women's fragranc...

Woman with cocaine breast implants held

MADRID: Spanish police arrested a Panamanian woman on Wednesday who landed in Barcelona from Bogota, Colombia with cocaine stuffed inside her breast implants. The woman was taken to the police at Barcelona's El Prat airport after her vague answers to...

'Rs 6-7 billion in corruption daily'

ISLAMABAD: Chairman NAB Admiral (retired) Fasih Bokhari said Thursday that Rs 6-7 billion in corruption was being committed in Pakistan on a daily basis. During a news conference, Bokhari added that according to other data, this figure had reached Rs...

Goods Transporters call off strike

ISLAMABAD: Goods Transporters Association has ended their strike following successful negotiations with two-member committee, formed by the prime minister to resolve the issue, media reported. Office-bearers of Goods Transporters Association held tal...

'67% MPs failed to file tax returns'

ISLAMABAD: The first-ever report on the taxes of senators and MNAs was released on Wednesday in the National Press Club. The report states that 67% of parliamentarians and 62% of ministers in the Federal Cabinet did not file their income tax returns....

Cabinet rejects NAB corruption report

ISLAMABAD: The Federal Cabinet has rejected a soon to be released report by the National Accountability Bureau (NAB) which stipulates that corruption in Pakistan amounts to billions of rupees daily. There was a heated debated during the cabinet sessi...

'Corruption is a worldwide phenomenon'

ISLAMABAD: Minister for Information and Broadcasting Qamar Zaman Kaira Wednesday said corruption was a worldwide phenomena and it was not restricted to Pakistan only. Briefing the media persons about Federal Cabinet's meeting here, the Information Mi...

Transporters’ strike: PM forms committee

ISLAMABAD: Taking notice of goods transporters' strike, Prime Minister Raja Pervez Ashraf has formed a two-member committee to resolve the issue, media reported on Wednesday. According to sources the issue was raised by MQM leader and federal ministe...

Report on MPs' tax data to release today

ISLAMABAD: The first-ever report on the taxes of senators and MNAs is being released on Wednesday in the National Press Club. It has been authored by Umar Cheema, an investigative reporter of The News and co-founder of newly-registered Center for Inv...

Mobile Internet forcing PCs to evolve

SAN FRANCISCO: The shift to smartphones and tablets became a landslide this year, crushing desire for laptop computers and pressuring manufacturers to adapt to the mobile Internet era. The trend promised to gain momentum in 2013, with people using ha...

Microsoft ups Surface production

SEATTLE: Microsoft Corp has stepped up manufacturing of the Surface tablet, its new device designed to counter Apple Inc's iPad, and will introduce it to third-party retailers this week. The moves suggest Microsoft is seeing some demand for its first...

CDA seals six more houses

ISLAMABAD: The Capital Development Authority Tuesday sealed another six houses in sector F-6/1 in continuation of operation against non conforming use and violations of building by-laws in different residential sectors of Islamabad.The directorates o...

Young doctors protest against KP govt

PESHAWAR: The activists of Young Doctor Association on Tuesday held protest demonstration against the Khyber Pakhtunkhwa government for not implementing the proposed service structure for the doctors’ community. Holding banners and placards inscribed...

Duped nurse's family to get $5,00,000

SYDNEY: An Australian radio station Tuesday pledged at least Aus$500,000 (US$523,600) to help the grieving family of a nurse duped by a royal prank phone call, after coming under sustained scrutiny over the hoax. Nurse Jacintha Saldanha, who fielded ...

OGRA approves increase in gas tariffs

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has recommended substantial increase in gas tariffs for industries, fertilizer factories, power houses, CNG and the domestic customers effective the New Year, 1st of January, 2013. A copy of the OGRA...

Rupee down in the dumps against dollar

KARACHI: The rupee Tuesday weakened to 97.15/97.25 against the dollar, compared to Monday's 96.91/96.95. The local currency may fall further due to high dollar demand from importers, a dealer said. Overnight rates in the money market remained flat at...

Pak to get $600mn under CSF in few weeks

ISLAMABAD: Federal Finance Minister Dr Abdul Hafeez Shaikh has said that the United States will reimburse $600 million under coalition support fund (CSF) in few weeks. Talking to Geo news here on Tuesday, the finance minister terming his talks with W...

Gas cos, cementmakers drag KSE down

KARACHI: Local stocks eased lower on Tuesday, pressured by a drop in shares of cement and gas companies, dealers said. The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,701.69 points, down 0.51 percent or 85.85 points from the previ...

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