Economy

PSM gets warning over less production

ISLMABAD: Federal Minister for Production Mushtaq Ali Cheema has warned Pakistan Steel Mills (PSM) administration that it would be held responsible if production does not increase despite bailout package, media reported on Thursday. Speaking to media...

NA body briefed over Pak-India trade

ISLAMABAD: Federal Minister for Commerce and Trade Makhdum Amin Faheem has said that concerns of local industries were being addressed over Pak-India trade relations, media reported on Thursday. Briefing the National Assembly’s Standing Committee on ...

KSE gains 25 points, ends at 16,243

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-shareindex ended 0.16 percent, or 25.26 points, higher at 16,243.27. Stocks closed at another record high on Thursday amid increased trading ahead of a long weekend. Engro Foods fell 1.28 percen...

Faisalabad faces weekly CNG closure

FAISALABAD: CNG stations in Faisalabad region are closed for three days under the weekly gas load management program, media reported Thursday. Following a weekly gas load management plan, CNG supply in eight regions of Faisalabad including Sargodha, ...

US stocks dive after Obama win

NEW YORK: US stocks tanked more than two percent Wednesday after President Barack Obama's re-election victory set up a tough battle with Republicans over the looming "fiscal cliff". The Dow Jones Industrial Average tumbled 312.95 points (2.36 percent...

Crude up in Asia on bargain-hunting

SINGAPORE: Crude rebounded in Asia Thursday with traders on a bargain-hunting spree after prices plunged as the US "fiscal cliff" loomed and European fears resurfaced, analysts said. New York's main contract, light sweet crude for delivery in Decembe...

Lahore: Young doctors put off sit-in

LAHORE: The Young Doctors Association (YDA) Punjab after a meeting with officials of the health department put off their sit-in in front of the Chief Minister's Secretariat on Wednesday. A YDA leader, Dr Nasir Abbas, while talking to APP said during ...

KSE hits a record high; rupee stays firm

KARACHI: Stocks closed at a record high above 16,200 points on Wednesday, as a jump in share prices in Engro Foods and oil companies offset pressure from cement firms. Engro Foods rose 5 percent, or 3.83 rupees, to 80.43 per share, while D.G. Khan Ce...

Bank holiday on November 9: SBP

ISLAMABAD: The State Bank of Pakistan (SBP) and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed on Friday, November 9, being Public Holiday as declared by the government on the occasion of Iqbal ...

Women's involvement must for sustainable development: Kazmi

Growth can guarantee harmony, equality: Kazmi Islamabad: Member Planning and Design CDA Syed Mustafain Kazmi on Wednesday said that burden of this poverty on women must be reduced to ensure their empowerment which will trigger the national developme...

Govt sends letter to Swiss authorities

ISLAMABAD: The much awaited letter that led to ouster of former prime minister Yusuf Raza Gilani from his office has been written and sent to Swiss authorities following the Supreme Court orders in NR implementation case, media reported on Wednesday....

Dollar tumbles after Obama win

TOKYO: The dollar tumbled against the euro in Asian forex trading after President Barack Obama won a second term following a nail-biter White House race. The euro bought $1.2869 in Tokyo, up from $1.2788 earlier Wednesday and $1.2814 in New York late...

Asian markets mostly lower

HONG KONG: Asian markets were mostly lower on Wednesday as traders awaited the outcome of a knife-edge US presidential election, with votes being counted but the result too close to call. The region was given a positive lead from Wall Street, which f...

All set for IDEASA-2012 exhibition

KARACHI: The 7th of the biennially conducted International Defence Exhibition and Seminar (IDEAS) will commence from November 7 at Karachi Expo Center. Despite the fact that the Exhibition is being held after a gap of 4 Yrs, we have received overwhel...

MQM-H to strive for construction of KBD

No stability in country sans KBD: AfaqLahore: Reiterating his stance over controversial Kalabagh dam (KBD), the chief of the Mohajir Qaumi Movement-Haqiqi Afaq Ahmed on Tuesday said that he will continue to strive for early construction of the dam wi...

Australia interested in Pakistan’s great potential: Ambassador

Spectacular asset of Thar Coal can be jointly exploited: EnvoyPakistani, Australian businesswomen associations should be linkedMining, oil and gas giants keenly watching developments in Pakistan Islamabad: The Ambassador of Australia to Pakistan Mr....

Putin fires Russian defence minister

MOSCOW: Russian President Vladimir Putin on Tuesday fired defence minister Anatoly Serdyukov, replacing him with Moscow region governor Sergei Shoigu, his spokesman said. Serdykov was relieved of his duties so that a thorough investigation can procee...

Apple sells 3mn iPads over first weekend

SAN FRANCISCO/NEW YORK: Apple Inc sold 3 million of its new iPads in the first three days the tablet computers were available, driving optimism for a strong holiday quarter despite intensifying competition. Sales of the 7.9-inch iPad mini and fourth-...

Re-elected Obama to push for fiscal deal

WASHINGTON: If President Barack Obama wins re-election, he's expected to move quickly, perhaps within a day, to renew his bid for a bipartisan deal to avert a "fiscal cliff" that threatens to push the United States into recession, top Senate Democrat...

Oil down in Asia on eve of US vote

SINGAPORE: Oil fell in Asia Tuesday with trading subdued ahead of knife-edge US presidential elections and the start of a leadership transition in China, analysts said. New York's main contract, light sweet crude for delivery in December, shed three ...

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