Economy

Co-inventor of bar code, dies at 91

NEW YORK: Norman Woodland, co-inventor of the bar code, the inventory tracking tool that transformed global commerce in the 1970s and saved shoppers countless hours on the supermarket checkout line, has died, his daughter said. Woodland, 91, died Sat...

Sindh consumers to face 24hr CNG closure

KARACHI: All the CNG outlets in Sindh region will shut down for 24 hours from Friday 12:00 AM till Saturday midnight, media reported. Sui Southern Gas Company (SSGC) has issued a statement to this effect. Earlier this week, the company had already an...

PM meets President Zardari

ISLAMABAD: Prime Minister Raja Pervez Ashraf met President Asif Ali Zardari at Aiwan-e-Sadr on Friday and discussed with him the energy situation in the country and the outcome of his foreign visits. Spokesperson to the President Senator Farhatullah ...

Karachi stocks rise in cautious trading

KARACHI: Stocks rose on Friday, but the market remained dull as investors waited for a monetary policy announcement. There was trading in banking stocks amid expectations of expected payouts and activity in cement stocks as traders anticipated a cut ...

Wobbly rupee further weakens vs USD

KARACHI: The rupee Friday weakened at 97.56/97.62 against the dollar, compared to Thursday's 97.34/97.97. The rupee came under pressure due to import payments. The local currency may fall further due to strong demand for the dollar from importers, a ...

UN for $8.5bn for exigency aid worldwide

GENEVA: The United Nations on Friday appealed for $8.5 billion to help some 51 million people engulfed in 16 major crises around the world during 2013, not including the civil war in Syria.In 2012, the UN had appealed for $7.7 billion (5.9 billion eu...

SBP slashes policy rate by 50 basis poin

KARACHI: The State Bank of Pakistan (SBP)Friday reduced the interest rate by 50 basis points bringing it down to 9.50 per cent, media reported. The SBP has announced the monetary policy for the next two months (December-January)....

Yen weak in Asian trade

TOKYO: The yen was under pressure in Asia on Friday ahead of weekend elections expected to usher in a new government while a key Bank of Japan survey upped speculation of more central bank easing. The dollar fetched 83.72 yen in Tokyo morning trade f...

CNG station owners submit accounts

ISLAMABAD: All Pakistan CNG Association (APCNGA) on Friday said that over 1,000 owners of the CNG stations have submitted audited accounts to Oil and Gas Regulatory Authority (OGRA) which include bills of gas and electricity and evidence of all the e...

‘Punjab has 65pc of share in corruption’

ISLAMABAD: National Accountability Bureau (NAB) Chairman Admiral (retd) Fasih Bukhari telephoned Federal Law Minister Farooq H Naek claiming that Punjab province has 65 percent of share in overall corruption in the country. During his conversation wi...

Faisalabad workers resent gas holidays

FAISALABAD: The workers as well as the industrialists in the city here strongly resented forced holidays due to week-long suspension of gas supply since December 8, media reported. The workers said that they have been thrown out of employment, as the...

Crude up in Asia on positive China data

SINGAPORE: Crude prices were up in Asia on Friday after a closely watched survey showed Chinese manufacturing hitting a 14-month high in December, indicating a rebound in the world's second-biggest economy. New York's main contract, light sweet crude...

PIA loses legal battle in London court

LONDON: London High Court has ordered Pakistan International Airlines (PIA) to pay £35,000 to Travel Agents as fuel surcharge commission within 21 days, media reported. The court also dismissed the appeal of national flag carrier, in which PIA had co...

Long queues of vehicles witnessed at CNG

KARACHI: Long queues of vehicles were witnessed since Thursday 10 PM at fuel pumps in Sindh as the CNG stations were reopened after 2-day closure on Friday midnight. The fuel filling stations continued to supply CNG after the reopening of the station...

PML-N leaders warned over tax returns

LAHORE: Pakistan Muslim League-Nawaz (PML-N) leader Mian Nawaz Sharif has warned all the party leaders of stern disciplinary action over non-submission of tax returns, media reported. In a statement issued here, Sharif picked those PML-N leaders apar...

Import payments weigh down on rupee

KARACHI: The rupee weakened at 97.34/97.40 against the dollar, compared to Wednesday's 97.17/97.23. The rupee came under pressure due to import payments. The local currency may fall further due to strong demand for the dollar from importers, a dealer...

KSE draws strength for rate-cut hopes

KARACHI: Equities in the local capital market rose on Thursday, supported by expectations that the central bank will ease interest rates at its monetary policy meeting on Friday. The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,806...

Registrar won’t appear before PAC:SC

ISLAMABAD: The Supreme Court Registrar will not appear before the Public Accounts Committee of the Parliament, said a statement issued by the office of the apex court on Thursday. The statement said that though the Supreme Court saw the parliamentary...

Gaza perfume sales soar with rocket name

GAZA: Sales of a citrus-scented perfume marketed in Gaza have soared since it was named in honor of the rockets that Palestinians shot at Israel during a war last month, the manufacturer said. "M-75" perfume, which comes in men's and women's fragranc...

Woman with cocaine breast implants held

MADRID: Spanish police arrested a Panamanian woman on Wednesday who landed in Barcelona from Bogota, Colombia with cocaine stuffed inside her breast implants. The woman was taken to the police at Barcelona's El Prat airport after her vague answers to...

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