Economy

24-hour CNG closure in Sindh announced

KARACHI: Under gas load management plan, CNG stations in Sindh will remain closed for 24 hours in Sindh, starting from 8:00 AM Wednesday, media reported. According to Sui Southern Gas Company (SSGC), gas supply to CNG pumps in Sindh would remain susp...

Asian shares inch up on record Dow, yen slips

TOKYO: Asian shares inched higher on Tuesday, following Wall Street's record close overnight as growing confidence in the U.S. economy overrode concerns in the euro zone, while the yen slipped to fresh lows on speculation over imminent monetary easin...

Oil prices mixed in Asian trade

SINGAPORE: Oil prices were mixed in Asian trade Tuesday as a lift in regional stock markets was dampened by concerns of a slowdown in China's economy, analysts said. New York's main contract, light sweet crude for delivery in April gained 15 cents to...

IESCO issues power shut down notice

ISLAMABAD: Islamabad Electric Supply Company (IESCO) on Monday issued power suspension programme for various areas of its region due to necessary maintenance and routine development work. According to IESCO Spokesman, the power supply of the followin...

Sanctions fear takes away 441 points from KSE

KARACHI: The prices of local equities witnessed a sharp decline at Karachi Stock Exchange (KSE) on Monday after a gas pipeline deal with Iran raised fears the United States would impose sanctions on Islamabad, dealers said. The Karachi Stock Exchange...

NAB starts Metro Bus, Ring Road projects probe

ISLAMABAD: The National Accountability Bureau (NAB) has started an investigation into the Metro Bus and Ring Road projects of the Punjab government. NAB has asked the Punjab government to provide details of Ring Road and the Metro Bus projects. Accor...

Iran expresses resolve to complete gas pipeline

KARACHI: Iran President Mahmud Ahmadinejad on Monday expressed resolve to complete Pakistan-Iran gas pipeline project. Speaking at the groundbreaking ceremony of the project, he said; “ It is a historic day for Pakistan, Iran and the region, success ...

SC stays implementation of LNG import award

ISLAMABAD: The Supreme Court of Pakistan has stayed implementation of LNG import award worth $46 billion dollar, media reported Monday. An SC bench after directing all the parties to file their replies adjourned the hearing till March 18. The court a...

Bahria Town, US group sign $20 bn investment MoU

ISLAMABAD: Pakistan’s Bahria Town and a US investment group signed a memorandum of understanding (MoU) for $15 to 20 billion investment on Monday, media reported. Under the project Bahria Town in collaboration with the foreign companies associated wi...

Zardari links global peace to Pakistan prosperity

CHAHBAHAR: President Asif Ali Zardari Monday said that regional and global peace is linked to prosperity in Pakistan. Addressing at the groundbreaking ceremony of Iran-Pakistan multi-billion gas pipeline project, President Zardari regarded the pipeli...

Pak-Iran pipeline project inaugurated

CHAHBAHAR,Iran: President Asif Ali Zardari and his Iranian counterpart Mahmoud Ahmadinejad inaugurated the Pak-Iran pipeline project here on Monday. A consortium will start work on $7.5 billion gas pipeline from Pakistan to Iran despite American warn...

Asian markets mixed

HONG KONG: Asian markets were mixed Monday after another record-breaking performance on Wall Street while Shanghai dipped as disappointing economic data fuelled concerns about China's economy. The dollar got a boost from better-than-forecast US jobs ...

Pak-Iran gas pipeline groundbreaking today

ISLAMABAD: The groundbreaking ceremony of Pak-Iran gas pipeline project would be held on Monday (today) March 11, despite the US warnings of possible sanctions. President Asif Ali Zardari and his Iranian counterpart Mahmoud Ahmadinejad will be presen...

Oil down in Asia

SINGAPORE: Oil prices were down in Asia on Monday as Chinese industrial production showed signs of a slowdown, with the strong US dollar also putting pressure on prices, analysts said. New York's main contract, light sweet crude for delivery in April...

PESCO issues power shutdown notice for Peshawar

PESAHWAR: Power supply from 132 KV Peshawar Industrial Grid Station will remain suspended due to some necessary repair and maintenance work on March 10 (Sunday) from 8:30 A.M to 2:30 P.M. resultantly the consumers of 11 KV Kohat Road, Industrial Esta...

Plea against Metro Bus System project dismissed

LAHORE: Lahore High Court Chief Justice Umar Ata Bandial on Friday dismissed a petition against Metro Bus System Project. The matter was fixed before chief justice as an objection case because the Registrar's office had put an objection that the peti...

SXSW kicks off with vision of a 3D printing revolution

AUSTIN: The 27th edition of South by Southwest kicked off Friday with a bold prediction that desktop 3D printing will unleash a new industrial revolution guided by "creative explorers." Inventing or replicating everyday objects in three dimensions us...

RPP case: Supreme Court admits PM's letter as petition

ISLAMABAD: Prime Minister Raja Pervez Ashraf’s letter to the Chief Justice of Pakistan requesting constitution of judicial commission to look into rental power project (RPP)case has been accepted as a petition in the Supreme Court. The apex court wil...

China mulls Gwadar-Rato Dero highway funding

ISLAMABAD: With fully prepared to take charge of strategic deep water Gwadar port formally this month or next, People’s Republic of China, Pakistan’s time-tested ally and all-weathers friend, now plans to extend financial aid to Islamabad for the con...

Pak-Iran gas deal: ADB sees no reason for sanctions

ISLAMABD: The Asian Development Bank has said there is no reason to impose sanctions on Pakistan over 75.2 billion Pak-Iran gas pipe line to overcome energy crisis. ADB country Director said Pakistan’s caretaker set up could hold talk with Internatio...

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