Economy

Israel pays Palestinians tax advance

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu ordered an advance payment of tax money to the Palestinian Authority, currently undergoing financial difficulties, the premier's office said on Tuesday. The premier "ordered to transfer to the Pale...

Oil prices rise in Asian trade

SINGAPORE: Oil prices rose in Asian trade Thursday as tensions sparked by the killing of the US ambassador to Libya and a German court ruling on a eurozone bailout fund helped boost prices. However, signs of a weaker demand for energy in the United S...

FBR reduces GIDS to Rs50/mmbtu

KARACHI: In order to facilitate the business community the government has halved the recently imposed Gas Infrastructure Development Surcharge (GIDS), media reported. The Federal Board of Revenue (FBR) has issued a notification in this regard. Accord...

Finance ministry has final say in petroleum prices fixation: NA informed

ISLAMABAD: Parliamentary Secretary for Ministry for Petroleum and Natural Resources Shehnaz Shaikh on Wednesday said that the Ministry had nothing to do with the fluctuation of prices of petroleum products and the same was done by Finance Ministry as...

Business to remain open Thursday in Hyd

Hyderabad: The traders of the Chambers of Commerce Hyderabad will continue with their business as usual on Thursday. This decision was taken in a meeting of the traders Union on Wednesday in the Chamber of Commerce. ...

SC hears petition for media commission

ISLAMABAD: Supreme Court has ordered all stake holders to submit additional documents by Thursday on Geo anchor Hamid Mir, Senior journalist Absar Alam and others request for the formation of a media commission. The court demanding records from Secur...

KESC waives dues of affected families

KARACHI: The Karachi Electric Supply Company (KESC) has expressed its deepest sorrow over the deaths of the workers killed in the Baldia Town factory fire, and announced waiver of all existing and outstanding electricity dues in addition to the suppl...

WCCI, Indian Chamber signs MoU to intensify cooperation

Islamabad: Islamabad Women's Chamber of Commerce and Industry (IWCCI) and PHD (Punjab, Haryana, Delhi) Chamber of Commerce and Industry have signed a MoU to promote trade and investment and improve linkages between the business communities of two cou...

World Bank approves $220m for Punjab

KARACHI: World Bank has approved $220 million loan for the province of Punjab, media reported. World Bank’s Board of Executive Directors approved two credits totaling $220 million, said a handout issued by the WB here. The $150 million Punjab Cities ...

US lack moral right to stop raid on Iran

JERUSALEM: The deepening dispute between the United States and Israel over how to stop Iran’s nuclear program broke into public view Tuesday, with Israeli Prime Minister Benjamin Netanyahu suggesting that the Obama administration did not have the “mo...

Euro gains in Asian trade

TOKYO: The euro rose in Asian trade on Wednesday ahead of a German court ruling on the eurozone's bailout fund, while the dollar was mixed on speculation about further easing by the US Federal Reserve. The common European currency bought $1.2855 and ...

10 dead in Russian Far East plane crash

MOSCOW: Ten people died and four were injured Wednesday after a small plane crashed in far-eastern Russia, an emergency ministry official told AFP. The An-28 passenger plane went down in the far-flung Kamchatka region of Russia just after midnight lo...

Ephedrine case:Shahabuddin granted bail

ISLAMABAD: Supreme Court Wednesday granted pre-arrest bail to the Federal Minister, Makhdoom Shahabuddin in ephedrine case and also issued a notice to the Anti-Narcotics Force here, media reported. Makhdoom Shahabuddin had filed an appeal in the Supr...

GHQ owes CDA Rs.1bn: Chairman CDA

ISLAMABAD: GHQ has been found to be a defaulter of 1 billion rupees of Federal Capital’s development department CDA. The National University of Science and Technology owes the same amount where as a building project, Centaurus currently under constru...

Karachi: Murderer, extortionist arrested

KARACHI: Member of a political party was arrested from Lines Area in Karachi for his involvement in 4 murders including an ASI of Police and extortion. Briefing a press conference SP Investigation East Naveed Khawaja said that accused Zeeshan was car...

Shaky world stocks weigh on KSE

ISLAMABAD: Stocks at the local equity market ended lower on Tuesday in thin trade due to uncertainty in overseas markets,traders said. The Karachi Stock Exchange benchmark 100-share indexended 0.17 percent, or 26.17 points, lower at 15,214.02 on tota...

ANF submits report in SC: Ephedrine case

ISLAMABAD: The Anti Narcotics Force (ANF) on Tuesday submitted to the Supreme Court of Pakistan a progress report pertaining to the Ephedrine scam case, DawnNews reported. According to the report, investigations proved that the accused in the case h...

JS Bank to buy HSBC Pak operations

KARACHI (Haris Zamir): HSBC has decided to sell its operations in Pakistan to JS Bank Limited as part of its global restructuring and revamping plans to close down operations that have small asset bases, said HSBC London, said HSBC London in an email...

Oil lower in Asian trade

SINGAPORE: Oil prices slipped in Asian trade Tuesday as sentiment took a hit after an unexpected decline in US consumer credit, analysts said. New York's main contract, light sweet crude for delivery in October fell 35 cents to $96.19 a barrel and Br...

World Bank to finance power projects

ISLAMABAD: A delegation of World Bank headed by Country Director, Rachid Benmessaud called on Federal Minister for Water and Power, Ch. Ahmed Mukhtar and briefed on Bank's Energy Programme. It was informed that Bank is providing 840 million dollars f...

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