Economy

IMF chief in Paris court over payout scandal

PARIS: International Monetary Fund chief Christine Lagarde arrived at a Paris court Thursday for questioning over a state payout to a disgraced tycoon Bernard Tapie during her time as French finance minister. Lagarde is appearing before the Cou...

Nawaz seeks China support in civil nuclear technology

ISLAMABAD: Pakistan Muslim League-Nawaz chief Mian Nawaz Sharif met with Chinese Premier Li Keqiang in Islamabad today and sought assistance in the department of civil nuclear technology to overcome energy crisis, media reported Thursday. Acco...

Pakistani stocks vault to 21,458 points

KARACHI: The Karachi Stock Exchange (KSE) closed higher on Wednesday drawing strength form the incoming government's energy policy plans, media reported. The benchmark KSE-100 Index ended 1.37 percent, or 290.90 points, higher at 21,458.90. ...

48-hour CNG pumps closure announced in Sindh

KARACHI: Sui Southern Gas Company (SSGC) management has rescheduled CNG closure program for current week and decided to suspend gas supply to all CNG stations in Sindh region from Thursday, May 23 for 48 hours. According to SSGC, the step has b...

Asian stocks fall as markets eye possible Fed tapering

HONG KONG: Asian markets were mostly down Thursday on signs the US Federal Reserve could soon start tapering off its massive stimulus measures, though Tokyo stocks rose after the yen fell against the dollar. Markets took their lead from Wall S...

Dollar stays firm in Asia

TOKYO: The dollar stayed firm Thursday after Federal Reserve chief Ben Bernanke suggested the Fed could taper its massive stimulus in the coming months. The euro fell to $1.2842 in Tokyo morning trade from $1.2855 in New York late Wednesday and...

Oil extends losses as dollar firms

SINGAPORE: Oil extended its losses in Asian trade on Thursday on a stronger dollar after the US Federal Reserve hinted that it could ease its massive stimulus policy soon, analysts said. New York's main contract, West Texas Intermediate light s...

Massive power outages irk people

LAHORE: The unscheduled loadshedding of electricity coupled with a very hot weather made lives of the people very miserable across the country. The power outages continued for more 20 hours a day. The business centers gave a deserted look an...

China to help end Pakistan energy crisis: Li

ISLAMABAD: China and Pakistan should make the cooperation on power generation a priority, Chinese Premier Li Keqiang said, as Pakistan seeks to end an energy crisis that triggers power cuts of up to 20 hours a day, bringing the economy to a near s...

Unscheduled loadshedding irks I-10/1 residents

ISLAMABAD: The residents of Sector I-10/1 have complained of unscheduled power loadshedding and asked the authorities concerned to take strict notice of the situation. The residents have been facing over 10-hour daily un-announced outage, besi...

Pakistan, China sign multiple MoUs, agreements

ISLAMABAD: Pakistan and China Wednesday inked a number of economic/technical agreements and memorandum’s of understanding, media reported. The deals were inked at Aiwan-e-Sadr after detailed one-on-one meetings as well as delegation-level talk...

Pakistani stocks vault to 21,458 points

Oil down in Asian trade

SINGAPORE: Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said. Weak demand and surging crude stockpiles in the world's biggest economy have put downwar...

PM bans use of CNG in cars over 1000 cc

ISLAMABAD: Prime Minister Mir Hazar Khan Khoso has ordered a ban on use of Compressed Natural Gas (CNG) by vehicles over 1000, media reported Tuesday. However, according to reports, the All Pakistan CNG Association has refused to abide by the a...

Peshawar: Protest demonstration against power outages

PESHAWAR: The citizens of Nothia area of Peshawar took to the streets on Tuesday against the prolonged electricity loadshedding and staged a protest demonstration at Sunehri Mosque road, media reported. According to details, the protestors were...

Afghanistan to purchase An-74 cargo planes for Afghan forces

The national Security Council (NSC) of Afghanistan on Sunday instructed Afghan finance ministry provide $100 million to Afghan defense ministry for the purchase of 5 Russian made transport air-crafts. According to a statement released by Afghan...

Loadshedding to be addressed on war footing: Nawaz

LAHORE: Loadshedding continues for several hours in cities across the country as Pakistan struggles to overcome its power crisis. PML-N president Nawaz Sharif who is line to become the country’s next prime minister summoned a high level meeting in...

Rural areas suffer 16-20-hr power outages

PESHAWAR: With the advent of hot summer hours long power outages has returned like a nightmare to scare the people out of their wits and public and social circles of the provincial metropolis have held an appeal to the government to address the lo...

Sindh CNG pumps to remain closed for 24 hours

KARACHI: All CNG stations in Sindh including Karachi would be closed on Tuesday at 8 AM for the next 24 hours as part of load management plan. According to Sui Southern Gas Company (SSGC), the CNG pumps will be reopened on Sunday at 8 AM....

Dollar rebounds in Asia

TOKYO: The dollar turned higher against the yen in Asia on Tuesday as investors waited for testimony by the US central bank chief and the outcome of a policy meeting of the Japanese central bank. The dollar was changing hands at 102.52 yen in T...