Economy

Oil prices mixed in Asia

SINGAPORE: Oil prices were mixed in Asia Friday on fears of a possible default by Cyprus as the European Central Bank said it would halt funding to lenders if a new bailout deal was not found, analysts said. New York's main contract, light sweet crud...

Pakistan stocks tick up to close at 17,964 points

KARACHI: With cementmakers and fertilizer stocks in focus the apex bourse managed to have another somewhat dull but green day on Friday after grabbing a meager near 50 points, media reported. At the end of the rollover day, Karachi Stock Exchange's (...

Pakistan wants to see Tapi pipeline built soon: Zardari

ASHGABAT: Pakistan attaches great importance to the Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline and wants to see the project built as soon as possible, said President Asif Ali Zardari here on Wednesday. President Zardari was in the T...

Euro steady as markets weigh Cyprus bailout fears

TOKYO: The euro was steady in Asia Thursday as markets eye talks over a Cyprus bailout deal, while yen trade was dominated by speculation over the new Bank of Japan chief's first official press briefing. The dollar fetched 95.94 yen in Tokyo midday t...

Local bourse closes 60 points up

KARACHI: Equities at the local bourse closed higher on Wednesday, led by Engro Corporation, Muslim Commercial Bank and cement companies, traders said. Karachi Stock Exchange's (KSE) benchmark 100-shareindex ended 0.34 percent, or 60.60 points, higher...

Oil prices mixed in Asia

SINGAPORE: Oil prices were mixed in Asian trade Thursday as data showing Chinese manufacturing picking up strongly in March was offset by profit taking, analysts said. New York's main contract, light sweet crude for delivery in May, dropped 18 cents ...

AGP gets contempt notice for withholding judicial allowances

ISLAMABAD: Federal Tax Ombudsman Shoaib Suddle Wednesday had a contempt of court notice served on the Auditor General of Pakistan (AGP) Muhamamd Akhter Buland Rana for withholding judicial allowances, sources said. According to the sources, Muhammad ...

Pakistan capital market closes higher

KARACHI: Pakistan's stock market closed higher on Wednesday, led by Engro Corporation, Muslim Commercial Bank and cement companies, traders said. Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.34 percent, or 60.60 points, higher at ...

KMC vows to provide facility to foreign investors

KARACHI: Karachi Metropolitan Corporation (KMC) Administrator Syed Hashim Raza Zaidi has been given the study report about favorable environment for safe foreign investment by Director of South Asia Department JICA Japan Shigeki Fokudo which was prep...

PESCO issues power shut down notice

PESHAWAR: The Peshawar Electric Supply Company (PESCO) here on Wednesday issued power shut down notice for provincial capital due to maintenance work. According to PESCO Spokesman here, power supply will remain suspended from132 KV Peshawar Universit...

Kohat police foil smuggling bid

PESHAWAR: Kohat Police Wednesday foiled arms and narcotics smuggling bid from Khyber Pakhtunkhwa to Punjab province and recovered huge quantity of arms and narcotics. The Police spokesman said that Khota Cantt Police recovered 25 AK-47, two rifles, o...

Water and Power ministry forwarded names of defaulters to NAB

ISLAMABAD: Ministry of Water and Power has forwarded the names of defaulters of electricity bills to National Accountability Bureau (NAB) for the collection of dues worth Rs 100 million, media reported. Ministry of Water and Power sources said that a...

Wapda chief’s role strengthened

ISLAMABAD: In a major decision taken days after departure of the federal cabinet, the government partially reversed on Tuesday power sector reforms by putting all the 16 corporate power companies under the control of the Wapda Chairman Syed Raghib Sh...

FBR, exporters fail to sort out differences

KARACHI: Renewed efforts to iron out differences between exporters and the Federal Board of Revenue (FBR) over the sales tax regime for export-oriented industries failed when both the sides met on Tuesday at the PHMA House. The FBR member Inland Re...

Asian markets mixed

HONG KONG: Asian markets were mixed on Wednesday after Cypriot lawmakers comprehensively rejected a plan to tax savings as part of a crucial bailout deal, amid fears over the eurozone financial system. The euro also slipped but avoided tumbling again...

Oil recovers as ECB backs Cyprus banks

SINGAPORE: Oil prices bounced in Asia Wednesday after eurozone finance ministers and the European Central Bank (ECB) vowed to support Cyprus as a crucial bailout deal stood on the brink of collapse, analysts said. New York's main contract, light swee...

Oil prices recover in Asia

Diana dresses raise over #850,000 at London sale

LONDON: Ten dresses owned by Princess Diana, including the one worn when she danced with actor John Travolta at a White House dinner, sold for #862,800 at a London auction on Tuesday. The most iconic item -- the strapless dark blue velvet gown worn a...

Banks, textiles land Karachi stocks in green zone

KARACHI: A rallying banking sector landed Karachi Stock Exchange (KSE) in the green zone amid high volume trade here on Tuesday, media reported. The benchmark KSE-100 Index closed higher with a boost of 1.15 percent, or 201.37 points, at 17,693.37 po...

Fake Afghani Currency on the Rise: Officials

Afghan bank officials warned Saturday that fake money is increasing in Afghanistan, which is likely to cause more problems for the economy. Some Kabul residents and bankers told TOLOnews that the increase of fake Afghani currency is noticeable and ...

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