Economy

SSGC, SNGPL MDs sacked

ISLAMABAD: Ministry of Petroleum, on the directives of Caretaker Prime Minister Mir Hazar Khan Khoso, has sacked Managing Directors Sui Southern Gas Company Limited (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL), media reported. The ministry h...

Oil rebounds in Asian trade

SINGAPORE: Oil rebounded from recent falls in Asian trade Wednesday after upbeat US data boosted confidence in the world's largest economy, analysts said. New York's main contract, light sweet crude for delivery in June gained 14 cents to $94.35 a ba...

Dollar holds firm in Asian trade

TOKYO: The dollar held firm versus the yen in Asian trade Wednesday, clinging to recent gains after upbeat US data with analysts saying the greenback could climb higher. On Tuesday, the dollar jumped amid gains in US equity markets and more signs of ...

Tokyo stocks open up 1.38 percent

TOKYO: Tokyo stocks opened 1.38 percent higher on Wednesday after record-setting gains on Wall street and the dollar's surge through the 102-yen level. The benchmark Nikkei 225 index was up 203.92 points to 14,962.34 at the start. "Renewed yen weake...

Karachi Metro Bus Project to be launched soon: Shahbaz

KARACHI: Pakistan Muslim League-Nawaz leader Shahbaz Sharif has said that work on Karachi Metro Bus Project would be started soon. Speaking to senior anchor and analyst Kamran Khan in Geo News program 'Aaj Kamran Khan Kay Saath', Shahbaz Sharif, whos...

Engine of goods train derailed near Patedan

PATEDAN: Railway traffic was suspended when the engine of a goods train derailed in Patedan Wednesday, media reported. According to Pakistan Railways sources, the engine of goods train was derailed in Patedan due to which rail traffic was suspended ...

Rs 1 million for each victim of LDA Plaza fire

LAHORE: The Lahore Development Authority has doubled the compensation amount from Rs. 500,000 to Rs 1 million to each family of the 24 victims of LDA plaza inferno. LDA sources said here Tuesday the LDA will also take care of the persons injur...

12Kg heroin seized, one arrested

PESHAWAR: Police foiled a bid of narcotics smuggling from tribal areas to down country by seizing 12Kg heroin from a smuggler, police said on Tuesday. According to details, acting on a tip off, police started searching of vehicles at various e...

300,000 metric ton wheat procured in Bahawalpur

BAHAWALPUR: Approximately 300,000 metric ton wheat has been procured so far in Bahawalpur division which is almost 40 percent of the set target of procuring 736,700 metric ton wheat. According to the sources of food department, gunny bags are b...

Eating insects can help tackle food insecurity, says FAO

UNITED NATIONS: While insects can be slimy, cringe-inducing creatures, often squashed on sight by humans, a new book released by the Food and Agricultural Organization (FAO) says beetles, wasps and caterpillars are also an unexplored nutrition sou...

Dollar rally stumbles in Asian trade

TOKYO: The dollar's rally against the yen stumbled in Asian trade on Tuesday morning as investors looked for concrete signs that the US Federal Reserve would roll back its huge bond-buying programme. The dollar broke through the 102-yen level i...

‘Sick’ Raja fails to appear before NAB in RPP probe

ISLAMABAD: The former prime minister Raja Pervez Ashraf failed to appear before National Accountability Bureau (NAB) investigators in relation to the Rs22 billion Rental Power Projects (RPPs) scam on Tuesday, media reported. Ashraf informed NAB...

Ashraf, other RPP case accused barred from leaving Pakistan

ISLAMABAD: The Federal Investigation Agency (FIA) has barred former prime minister Raja Pervez Ashraf and other accused in Rs22 billion Rental Power Projects (RPPs) scam case from leaving Pakistan, media reported Monday. The FIA has ordered al...

Karachi stock hit all time high on Nawaz win

KARACHI: Karachi Stock Exchange (KSE) went booming up and up to gain in early few hours some 300 points breaching KSE-100 index record of 20,000 points, as the investors hailing the outcome of the May 11 polls and hoping for the restoration of som...

Local bourse surges to new record at 20,244 points

KARACHI: The successful holding general elections in the country and PML-N Chief Nawaz Sharif’s appearing ready to form the government gave benchmark KSE 100-Share Index at Karachi Stock Exchange (KSE) a massive push to close at a record level of ...

KSE goes zooming up to breach record 20,000 points

Dollar keeps climbing as G7 meet on world economy

NEW YORK: The US dollar pushed higher on Friday and the yen sagged as the finance chiefs of the G7 began meeting outside London on global economic challenges and Japan stuck to its guns on monetary easing. The euro dropped back below the $1.30 ...

Yen in focus as G-7 discusses nurturing recovery

AYLESBURY, England: Financial leaders from the world's top seven developed economies are gathering in the U.K. to discuss how to shore up the global recovery just as the stimulus measures of one its members, Japan, has caused its currency to take ...

Oil down in Asia as OPEC boosts supply

SINGAPORE: Crude prices were lower in Asian trade on Monday, after OPEC raised its oil output and maintained a flat forecast of global demand, analysts said. New York's main contract, light sweet crude for delivery in June shed 81 cents to $95...

Brazil's Roberto Azevedo wins WTO leadership race

GENEVA: Brazil's Roberto Azevedo has won the race to become the next head of the World Trade Organization, the first candidate from the BRIC club of emerging economies to take the job. According to details, the career trade diplomat now faces a huge ...

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