Economy

‘Camels exported with government permission’

KARACHI: Diplomatic sources have rejected the report that 150 camels were exported to Dubai without permission from the government and authorities concerned, media reported Wednesday. The sources said that the camels were exported with government per...

US deficit forecast at $744 billion in 2014

WASHINGTON: US President Barack Obama's budget due to be unveiled on Wednesday forecasts a deficit of $744 billion dollars in fiscal year 2014, a senior US official said. The figure equates to a deficit of 4.4 percent of gross domestic product in 201...

Asian markets mostly up

HONG KONG: Asian markets were mostly higher on Wednesday, with Tokyo supported by the weak yen, while Shanghai slipped following a rare trade deficit for China in March. On Wall Street the Dow index provided support as it climbed to yet another recor...

ADB warns of risks to developing Asia's rebound

HONG KONG: The Asian Development Bank said Tuesday the region’s emerging economies would pick up this year but warned that the recovery remained fragile due to the eurozone crisis and tensions in Asia. The Manila-based lender said in its latest forec...

Oil down in Asia

SINGAPORE: Oil was down in Asia on Wednesday as caution set into the market ahead of a US crude inventory report, analysts said. New York's main contract, light sweet crude for delivery in May dropped 24 cents to $93.96 a barrel and Brent North Sea c...

EU-wide sham marriage gang busted; 26 held

MADRID: Police in Spain and three other European nations have broken up a gang that obtained residency permits for undocumented Pakistani men by organising fake marriages with Portuguese women, Spanish police said Tuesday. The Europe-wide ring's lead...

PM orders measures to improve power situation

ISLAMABAD: Caretaker Prime Minister Justice (retd) Mir Hazar Khan Khoso on Tuesday directed the Ministry of Water and Power to take immediate measures for improvement in the power situation. The Prime Minister, in his directive ordered for utilizatio...

Power crisis: Punjab to observe two weekly holidays

ISLAMABAD: Punjab cabinet held its meeting here on Tuesday under caretaker Chief Minister Najam Sethi to discuss the issue of load-shedding. Addressing the meeting‚ the Chief Minister said that he would raise the issue of power load-shedding with the...

Violation of contracts by Libyan firms

Embassy takes serious notice of Pakistanis complaints Islamabad: The Head of Mission of Embassy of Libya in Islamabad has taken serious notice of the complaints received from Pakistani brothers over a few companies’ apparent failure to implement the...

Unemployed Afghans Find Job Opportunity in Poppy Harvests

Unemployment is driving young Afghans to southern Helmand province where there are plentiful jobs in harvesting the poppy fields that will later become opium. The warmer weather has brought the season for poppy scoring, a time-consuming job which i...

India Removes Export Tariffs on Afghan Goods

The Indian government will not charge tariffs on more than 460 goods being exported from Afghanistan to India in a bid to increase trade between the two countries, the Afghan ministry of commerce and industries said Saturday. Minister Anwar ul Haq ...

Rajiv Gandhi was ‘entrepreneur ‘ for Swedish jet, US cable says

NEW DELHI: Much before he became Prime Minister, during his years as an Indian Airlines pilot, Rajiv Gandhi may have been a middleman for the Swedish company Saab-Scania, when it was trying to sell its Viggen fighter aircraft to India in the 1970s. T...

Power supply to several grid stations halted in Lahore

LAHORE: Several areas of Lahore plunged into darkness as electricity supply to grid stations was halted from National Power Control Centre (NPCC), media reported. In-charge Wapda Town grid station said that they were in contact with NPCC for restorat...

Rs 12 million recovered from power bill defaulters

LAHORE: The National Accountability Bureau (NAB) Punjab on Friday recovered Rs 12 million from 67 electricity bill defaulters of power companies. According to a press release issued here on Friday, notices have been sent to defaulters to make payment...

NAB arrests Tikka Iqbal from Arifwala

LAHORE: National Accountability Bureau (NAB) officials have arrested former provincial minister Tikka Muhammad Iqbal Khan from Arifwala, media reported Saturday. According to sources, NAB officials accompanied by local police team raided Arifwala and...

20 shops damaged in Multan market fire

MULTAN: Fire broke out at a cloth market in Multan early Saturday morning that has damaged 20 shops while efforts are still underway to douse the flames, media reported. According to sources, fire broke out at Kalay Mandi Bazaar of Multan early in th...

India-France giant fighter jet deal stalled

NEW DELHI: India's negotiations with France's Dassault Aviation on a $12-billion deal for Rafale fighter jets have stalled due to disagreements over the production of the planes in India, a report said Friday. The defence deal, one of the biggest eve...

Earning hopes keep the ball rolling for Pakistan stocks

KARACHI: Hopes of lucrative earnings ahead of corporate results kept the ball rolling at Karachi Stock Exchange (KSE) here on the rollover day, media reported. The benchmark KSE-100 Index scored 22.59 positive points, to close at 18,636.03 points, wh...

Oil prices mixed in Asia

SINGAPORE: Oil prices were mixed in Asia on Friday as traders waited cautiously for the release of US jobs data for March later in the day, analysts said. New York's main contract, West Texas Intermediate light sweet crude for delivery in May, shed 1...

District Admin holds 95 persons for flouting rules

PESHAWAR: District administration arrested 95 persons including butchers and steak sellers for violation of meat holiday from different parts of the provincial metropolis, said a press release issued here on Thursday. According to details Deputy Comm...

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