Economy

  Pakistani stocks end lower; rupee strengthens

KARACHI: Pakistan’s main stock exchange closed slightly lower on Tuesday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.06 percent, or 16.87 points, to 26,653.73. Investors showed interest in Engro Corporation and buying i...

  State Bank of Pakistan steps up Islamic banking push

KARACHI: The central bank of Pakistan is stepping up its push to develop Islamic banking, encouraging lenders to expand their operations in the world's second most populous Muslim nation. Pakistan was one of the first countries to introduce Islamic b...

  Indonesia sentences Pakistani human trafficker to 7 years

JAKARTA: An Indonesian court sentenced a Pakistani man to seven years in jail Tuesday for attempting to smuggle asylum seekers to Australia on a rickety boat that sank, killing about 90 people. Javaid Mahmood, 55, was the second person found guilty b...

  PIA Umrah flight fares jump by up to Rs10,000

KARACHI: Pakistan International Airlines (PIA) has once again jacked up Umrah flight fares by up to Rs10, media reported. “This hike is demand driven as it is the peak season”, said a spokesman for the national flag carrier. It must be noted that at ...

  Dollar mixed in Asia ahead of Fed meeting

TOKYO: The dollar was mixed in Asian trade Tuesday ahead of a US Federal Reserve meeting, with speculation growing that policymakers will further reduce the bank´s stimulus programme. In midday trade, the dollar bought 102.70 yen, compared with 102.5...

  Sindh CNG stations reopen after 24 hours

KARACHI: CNG stations across Sindh including Karachi reopened after 24-hour closure at 8:00 AM today (Tuesday), media reported. The CNG outlets, under load management plan, were closed on Monday at 8:00 AM for 24 hours. The CNG pumps resumed supply o...

  US says Pakistan can become future economic 'tiger'

WASHINGTON: US Secretary of State John Kerry on Monday told Pakistan it had the potential to become a future economic tiger as he backed reforms and inclusion of women and minorities. The United States and Pakistan were meeting for the first time sin...

  KSE sheds 332 points as global selloff weighs

KARACHI: Tracking a global tumble Karachi Stock Exchange (KSE) lost above 332 points to retreat at 26,670.60 level on Monday. The benchmark 100-Index plunged by 1.23 percent. Analysts say the global sell-off had a somewhat domino effect on the local ...

  Oil prices mixed

SINGAPORE: Oil prices were mixed in Asian trade Monday as dealers focused on the US Federal Reserve´s policy meeting this week in anticipation of further stimulus pullback. New York´s main contract, West Texas Intermediate (WTI) for March delivery, w...

  CNG stations to remain closed for 24 hours in Sindh

KARACHI: The CNG stations will remain closed for the next 24 hours in Sindh as part of Gas Load Management Plan. The CNG stations will close at 8:00 am on Monday and will reopen after 24-hour closure on Tuesday morning....

  Ogra scam: Nine including Aqeel Karim Dhedhi put on ECL

ISLAMABAD: Nine accused, facing corruption references for their alleged involvement in a massive Oil and Gas Regulatory Authority (OGRA) scam have been barred from traveling abroad, media reported. According to Ministry of Interior, those whose names...

  Govt decides to privatize Lakhra coal power project: Dar

ISLAMABAD: The government has decided to privatize Lakhra Coal Power Project, Finance Minister Ishaq Dar informed the Privatization Commission Saturday. During a meeting with Privatization Commission, the finance minister said the government is commi...

  Pakistani stocks end lower; rupee weakens

KARACHI: Pakistan’s main stock exchange closed lower on Friday with the benchmark 100-share index of the Karachi Stock Exchange fell 0.23 percent, or 61.45 points, to 27,002.89. Consolidation was seen today after market has gained 7 percent since beg...

  PM Nawaz summons CCI meeting on February 10

ISLAMABAD: Prime Minister Nawaz Sharif has summoned a meeting of Council of Common Interests (CCI) on February 10....

  Oil prices supported by dip in US distillate supplies

SINGAPORE: Oil prices edged higher in Asian trade Friday as a surprisingly sharp decline in US distillate supplies last week buoyed forecasts of stronger demand in the world´s top crude consumer, analysts said. New York´s main contract, West Texas In...

  Dollar edges up in Asia after New York sell-off

TOKYO: The dollar edged up against the yen in Asia on Friday after plunging on weak Chinese data which sparked worries over emerging markets. In Tokyo afternoon trade, the dollar fetched 103.44 yen, up from 103.34 yen in New York Thursday afternoon b...

  Hong Kong stocks down 0.93 percent at open

HONG KONG: Hong Kong shares opened 0.93 percent lower on Friday following heavy losses on Wall Street that were fuelled by data showing a contraction in Chinese manufacturing activity. The benchmark Hang Seng Index fell 211.46 points to 22,522.44 in ...

  Night shift work dangerous for human health: research

LONDON: Working night shifts is, totally, detrimental to the human health, as it speedily damages DNA equilibrium in human bodies. According to a mega research study conducted by the University of Surrey, U.K., not only does irregular shift work have...

  Asian shares lower after weak China data

HONG KONG: Markets across Asia fell Thursday as investors were spooked by data showing Chinese manufacturing activity shrank in January for the first time in six months. Regional markets were also given a soft lead from Wall Street, which ended mixed...

  Dollar edges down in Asia ahead of US jobs, housing data

TOKYO: The dollar edged down in Asia Thursday ahead of closely watched US jobless claims and housing data which investors will look to for clues about the strength of the world´s largest economy. The greenback bought 104.35 yen in Tokyo afternoon tra...


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