Economy

City suffers yet another day without CNG

KARACHI: The city’s private motorists and commuters using public transport faced great difficulties on Tuesday as the majority of the gas stations were kept closed for the second day in protest against what their owners claim is a “highly unreasonabl...

NAB will be responsible if RPPs left: SC

ISLAMABAD: The Supreme Court (SC) resumed the hearing of rental power plants case on Monday and said that the chairman of National Accountability Bureau (NAB) will be responsible if the Karkey power plant left without paying the liabilities, media re...

New corruption scandal rocks Brazil govt

BRASILIA: Brazilian President Dilma Rousseff, moving quickly to nip a new scandal in the bud, ordered the dismissal on Saturday of government officials allegedly involved in a bribery ring, including the country's deputy attorney general. Federal po...

India govt approves drug pricing policy

NEW DELHI: The Indian government approved on Thursday a new drug pricing policy, two ministers told reporters, a move that will regulate the prices of 348 drugs deemed essential. India's domestic drug market, the fourth largest in the world by volum...

Afghanistan Also Pinched by Iran Sanctions

ISLAMABAD: In the span of a few weeks, the Afghan currency has dropped several points against the dollar. Government officials and money exchangers in Kabul say that Iranian businessmen, hungry for foreign exchange in the face of international sancti...

'Sony at greater risk than Panasonic'

TOKYO: Panasonic Corp has a better chance than rival Sony Corp of surviving Japan's consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said Friday. Fitch cu...

Pakistan, Indonesia bilateral trade seen at $15 bl in three years

Islamabad’s exports to Jakarta increasing: Indonesian MinistersPVMA, Indonesian Federal Chamber sign MoU to boost cooperation Islamabad: Indonesia has said that we are exploring new venues of cooperation and bilateral trade between two brotherly cou...

US keen to invest in Bhasha Dam project

ISLAMABAD: The US has expressed keen interest in investing Diamer Bhasha Dam and the issue would be discussed during the meeting of Economic Working Group in Washington next month, media reported. US Ambassador Richard Olson called on Federal Ministe...

UK: Amnesty for 147,000 asylum seekers

LONDON: According to a British newspaper about 147,000 asylum seekers have been granted an “effective amnesty” to stay in Britain by bungling border staff. The UK Border Agency parked a backlog of cases in a secretive archive after minimal checks, a ...

Sarkozy ducks poll funding scam inquiry

BORDEAUX, France: French former President Nicolas Sarkozy has not been put under formal investigation by magistrates looking into whether he received illegal campaign funds from France's richest woman in 2007, but has instead been designated a witnes...

European stocks edge higher at open

LONDON: Europe's main stock markets rose slightly at the start of trading on Friday, with London's benchmark FTSE 100 index of top companies edging up 0.09 percent to 5,796.26 points. Frankfurt's DAX 30 climbed 0.18 percent to 7,258.33 points and in ...

Japan, Germany Donate $33M for Airport Expansion

The Japanese government will donate US$20 million for the expansion of Kabul International Airport while Germany has pledged $13 million for Mazar-e-Sharif airport, Afghan Aviation Minister Dawood Ali Najafi said Wednesday. The expansion project in...

SLanka top judge attends House hearing

COLOMBO: Sri Lanka's top judge attended parliament on Friday for the start of a process in which she is expected to be impeached over alleged financial misconduct, witnesses and officials said. Chief Justice Shirani Bandaranayake, 54, left the Superi...

Oil prices ease in Asia on Gaza truce

SINGAPORE: Oil prices fell in Asia Friday in thin trade following the US Thanksgiving holiday, with a truce in Gaza and gloomy eurozone manufacturing data weighing on markets, analysts said. New York's main contract, light sweet crude for delivery in...

British MPs under fire over trips abroad

LONDON: British lawmakers were under fire Friday for racking up #1.5 million ($2.4 million, 1.9 million euros) worth of visits to foreign countries in the last two years. paid for by governments, firms and pressure groups. Some 242 members of parliam...

Nigeria to host D8 trade talks February

ISLAMABAD: Nigeria will host trade talks among the Developing Eight in February as part of efforts to increase business within member states and Africa, Nigeria's trade and investment minister said. "I will be hosting the trade and industry ministers...

Nangarhar Saffron Pilot a Success: Agriculture Ministry

Nangarhar farmers who switched from opium cultivation to saffron in a pilot program under the Ministry of Agriculture have said that their income has more than doubled from the sale of the spice, a promising statistic being touted by the Ministry. ...

Forex reserves fall 0.22 pc to $13.814bn

KARACHI: Pakistan's foreign exchange reserves dropped to $13.814 billion in the week ending Nov 16, from $13.845 billion the previous week, State Bank of Pakistan said.RESERVES Week ending Previous Week Change/pct($ billions) Nov 16 Held by SBP 9.125...

Most Afghans Will Have Internet Access in 2 Years: Officials

More than 80 percent of the Afghan population will have access to internet within the next two years, the Ministry of Communications and Information Technology (MCIT) said after it issued an internet service license of Vimax to three private internet...

Hard choices as Afghanistan seeks to exploit mineral riches

Huge riches lie buried below the dusty plains and mountains of Afghanistan — both mineral wealth and historical treasures accumulated over thousands of years. As the country seeks to build a prosperous and peaceful future after more than 30 years o...

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