Economy

  Petrol price reduced by Rs2.73 per litre

ISLAMABAD: The rate of petrol has been reduced by Rs2.73 for every litre sold during the month of March, said a handout issued by Ministry of Finance. According to the statement, Prime Minister, Mian Nawaz Sharif, has sanctioned an extension to the e...

  ECC emergent meeting today

ISLAMABAD: The Economic Coordination Committee (ECC) emergent meeting with the Finance Minister, Ishaq Dar in the chair is scheduled to be held on Friday here, media reported. Sources said that LNG project summary is also included in the agenda of th...

  Oil prices down in Asian trade

SINGAPORE: Oil prices fell further in Asian trade Friday owing to concerns over soft US economic data and the unfolding crisis in Ukraine. New York's main contract, West Texas Intermediate (WTI) for April delivery, eased 36 cents to $102.04 in mid-mo...

  Economy grows better than expectations in 1st Qr CFY: SBP

KARACHI: The economic policy of the new government has started giving positive results, as the gross domestic product (GDP) grew by an impressive 5 percent during the first quarter of the current financial year (2013-14) exceeding the previous year’s...

  Asian shares climb after upbeat Yellen testimony

HONG KONG: Asian markets rose Friday after Federal Reserve chief Janet Yellen provided an upbeat view of the US economy and hinted the bank could ease up on its stimulus taper if the growth outlook weakens. The comments provided the platform for a re...

  Pakistani native pleads guilty in $10 million US fraud case

COLUMBUS: A Pakistani native accused of buying $30,000 watches and cars costing more than $100,000 as part of a money laundering scheme, pleaded guilty Thursday to federal fraud charges. Haider Zafar's plea came minutes after an IRS agent testified a...

  Lusterless KSE retreats to a 2-month low

KARACHI: In the absence of strong trade triggers the apex bourse retreated to a two-month low here on Thursday. The benchmark 100-Index of the Karachi Stock Exchange (KSE) shed 0.08 percent, or 21.57 points to 25,478.93. This was the index’s lowest p...

  Nawaz orders uplift of infrastructure at Murree

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Thursday ordered the preservation of heritage of Murree and improvement of its infrastructure as the city has tourist significance. He said this while chairing a review meeting on the improvement of fac...

  Oil prices ease ahead of Yellen testimony

SINGAPORE: Oil prices eased in Asian trade Thursday as investors await congressional testimony by the US central bank chief for fresh clues about the state of the world´s biggest economy, analysts said. New York´s main contract, West Texas Intermedia...

  Dollar moves narrowly ahead of Yellen testimony

TOKYO: The dollar was stuck in a tight range on Thursday as investors sit on the sidelines before the head of the US Federal Reserve gives testimony to senators later in the day. The greenback was quoted at 102.38 yen in Tokyo, unchanged from New Yor...

  Millions without power in southern Philippines

MANILA: Millions of people were left without electricity in the southern Philippines on Thursday after a massive power breakdown, officials said, as repair crews worked to determine the cause of the outage. The power cuts began before dawn and affect...

  CNG stations reopen in Karachi

KARACHI: All CNG stations in Sindh including Karachi reopened on Thursday at 8 AM after 24-hour closure. According to Sui Southern Gas Company, the CNG refilling pumps were shut for 24 hours under gas load management plan from Wednesday 8 AM to Thurs...

  Asian shares broadly up, Qantas dives on huge net loss

HONG KONG: Asian markets mostly rose on Thursday in cagey trade following a positive close on Wall Street and ahead of the congressional testimony of US Federal Reserve head Janet Yellen later in the day. Australia´s main index was hit by a slump in ...

  KSE sheds around 59 points to close at 25,500 mark

KARACHI: The end of season coupled with future rollover weighed on Karachi Stock Exchange (KSE) here on Wednesday. The benchmark KSE 100-Index, which remained range-bound throughout the session, lost 0.23 percent, or 59.11 points, to close at 25,500....

  Costs of natural disasters in China surge to $69 billion

Natural disasters including droughts, floods and earthquakes cost China 421 billion yuan ($69 bln) in 2013, official data showed on Monday, nearly double the total in the previous year.China has always been prone to natural disasters but a changing c...

  Dollar edges up as market awaits Fed chief testimony

TOKYO: The dollar edged up in Asia on Wednesday after selling on weak US data petered out ahead of Congressional testimony by Federal Reserve chief Janet Yellen. The US unit was changing hands at 102.35 yen in Tokyo morning trade against 102.22 yen i...

  Oil prices up ahead of US stockpiles report

SINGAPORE: Oil prices edged higher in Asian trade Wednesday as dealers await the latest US crude stockpiles data for clues about demand in the world´s biggest economy at the tail-end of a harsh winter. New York´s main contract, West Texas Intermediat...

  Asian shares mixed after soft US data

HONG KONG: Asia’s markets were mixed on Wednesday as traders were left unimpressed by a weak batch of US economic indicators, although early losses were pared in Tokyo as the dollar staged a rebound against the yen. The euro enjoyed a measure of supp...

  New oil and gas reserve found in Sindh

KARACHI: The Pakistan Exploration Limited has found a new reserve of oil and gas in district Badin, media reported. According to a statement issued here on Tuesday, with the new exploration 11.3 million cubic feet gas and 115 barrel oil will be recov...

  India could split if corruption not tackled, warns Kejriwal

NEW DELHI: Aam Aadmi Party (AAP) leader Arvind Kejriwal has warned that India could break apart if it failed to tackle corruption in the political system. The AAP leader told BBC it was corrupt politicians who were ultimately responsible for the coun...


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Feature / Analysis

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