Economy

Iran invited to invest in gas pipeline

ISLAMABAD: Pakistan has offered Iran to invest in the construction of the gas pipeline. The government is expected to issue tenders for laying the gas pipeline in the coming week. Iranian Ambassador Ali Raza met petroleum advisor Asim Hussain in Isla...

Petrol price expected to decrease

ISLAMABAD: The price of petrol is expected to be reduced by Rs.3 per litre where as diesel is expected to be increased by Rs.3 from 15th October. The price of CNG is also expected to go down by Rs.2.75 because of the reduction in petrol prices. Accor...

KU in financial crunch

KARACHI: According to resources Karachi University’s electricity dues have gone up to 20 million while its bank balance last month was only Rs. 200,000. Professor Monis Ahmer of the Karachi University has said that 800 non-academic staff was appointe...

Asian markets mixed

HONG KONG: Asian markets were mixed Friday as earlier gains from promising US jobs figures and hopes for upcoming Chinese economic data were offset by concerns over the global economy. Japanese shares were also hit by a plunge in telecom giant Softba...

IMF for action as eurozone crises fester

TOKYO: The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits. Christine Lagarde, managing director of the Intern...

Crude up in Asia on Middle East tensions

SINGAPORE: Crude prices rose in Asia Thursday with Middle East supply risks coming to the fore after Turkey warned Syria of a tougher response if artillery shellings continue, analysts said. New York's main contract, light sweet crude for delivery in...

CNG closed for 3 days in Faisalabad

FAISALABAD: The eight districts of Faisalabad region will be without CNG from Thursday for three consecutive days following the gas load management program, media reported. According to sources, the regions affected by the CNG closure under gas load ...

KSE 100-share index gains 65 points

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.42 percent, or 65.58 points, higher at 15,753.82 on total volume of 132.83 million shares. Stocks closed higher on Wednesday with increased buying in major markets, deale...

Bosnia is gateway to Europe’s markets

President Zardari says close Pak-Bosnia trade links to benefit both countries ISLAMABAD: President Asif Ali Zardari on Tuesday said that Pakistan values its relations with Bosnia and Herzegovina, which is a gateway to Europe, and called for ...

One in 8 in the world still hungry: UN

UNITED NATIONS: One in eight people worldwide still suffers from chronic hunger, the UN's food agency said on Tuesday, describing the figure as "unacceptable" and warning that the fight against hunger was slowing down. "With almost 870 million pe...

World fiscal confidence sagging: IMF

TOKYO: The International Monetary Fund urged European policymakers to deepen the financial and fiscal ties within the euro area with some urgency to restore sagging confidence in the global financial system. In its semi-annual check on the world'...

SC approves Swiss letter draft

ISLAMABAD: The Supreme Court has finally approved the fresh draft of the Swiss letter and made it a part of the court order on Wednesday here, media reported. A three-member bench comprising of Justice Nasir-ul-Mulk, Justice Asif Saeed Khosa, and...

IMF cuts global growth forecast

WASHINGTON: The International Monetary Fund (IMF) slashed its global growth forecast and warned things could get much worse if the eurozone crisis is not quelled and Washington fails to reverse the looming "fiscal cliff" austerity plan. Unrelenting m...

Euro strengthens in Asian trade

TOKYO: The euro strengthened in morning Asian trade on Tuesday after worries about Greece and Spain dragged the embattled unit lower a day earlier, while the dollar inched up against the yen amid rosy US jobs data. The European single currency bought...

World oil prices recover in Asia

SINGAPORE: World oil prices recovered in Asian trade Tuesday as investors bought on the dip amid Syria-Turkey tensions, but bad news on the regional and global economy fostered an atmosphere of caution. New York's main contract, light sweet crude for...

U-turn on $1b methanol expansion plan

A CHEMICALS firm which announced last year it was shelving a $1 billion expansion because of the carbon price, bolstering Coalition claims the scheme would kill investment, now says it is pushing ahead with the plans. Coogee Chemicals, which has a m...

India to check hospital treatment cost

NEW DELHI: Indian health ministry said it was working on a plan to make it mandatory for all private hospitals in India to declare and display the treatment costs of different diseases, Indian daily newspaper said in a report. According to the Times ...

Two-day CNG holiday in Sindh from Oct

KARACHI: Sui Southern Gas Company (SSGC) is mulling over a proposal to observe two holidays per week for Compressed Natural Gas (CNG) filling stations in Sindh from October and to strictly bind the industry to do without CNG for one day. The SSGC has...

KESC signals increase in loadshedding

KARACHI: Karachi Electric Supply Company (KESC) has expressed the probability of increased loadshedding due to decrease in gas supply, media reported Monday. According to KESC spokesman, Sui Southern is providing less gas than usual with low pressure...

Crude down in Asian trade

SINGAPORE: Crude prices slipped in Asia Monday amid caution over Europe hours ahead of the formal launch of a 500-billion-euro rescue fund for the embattled eurozone, analysts said. New York's main contract, light sweet crude for delivery in November...

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