Economy

KSE ends record high

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-shareindex ended 0.34 percent, or 54.81 points, higher at 16,156.36, on total volume of 142.88 million shares. Stocks closed at a record high for the second straight session on Monday, led by co...

South Korea shuts nuclear reactors

SEOUL: South Korea has been forced to shut down two nuclear reactors to replace components provided with fake quality certificates, a minister said Monday, warning of "unprecedented" power shortages. Knowledge Economy Minister Hong Suk-Woo stressed t...

CNG price row piles miseries on people

KARACHI: Most of the CNG stations in the mega-metropolis city here remained closed even today, as the travelers, commuters and motorists are seen trapped in long queues on roadsadjacent to the few open filling stations, while the fortunate few, who h...

SK first lady to be grilled in land-deal

SEOUL: South Korean President Lee Myung-Bak's wife is to be questioned as part of a probe into a presidential retirement home deal that has already grilled Lee's brother and son, officials said Monday. The inclusion of First Lady Kim Yoon-Ok in the i...

US suicide rate increase since recession

NEW YORK: The rate of suicide in the United States rose sharply during the first few years since the start of the recession, a new analysis has found. In the report, which appeared Sunday on the Web site of The Lancet, a medical journal, researchers ...

Oil up in Asia

SINGAPORE: Crude prices rose in Asia Monday with a pick-up in China's services industry providing support ahead of Beijing's leadership transition and the US presidential election, analysts said. New York's main contract, light sweet crude for delive...

US fiscal cliff, EU debt woes worry G20

MEXICO CITY: Finance chiefs of leading economies pressed the United States on Sunday to avert a rush of spending cuts and tax hikes that could hurt global output next year, though some countries still saw Europe's debt crisis as the No. 1 danger. Unl...

World's most indebted man owes $6.3bn

PARIS: The former financial arbitrage trader Jerome Kerviel has been declared as the most indebted man on the planet as he owes his erstwhile employer $6.3 billion. He can earn million-dollar gains without anybody knowing. He can execute make-believe...

90pc CNG pumps shut across Karachi

KARACHI: Commuters in Pakistan's economic hub are facing severe hardship as ninety percent of the total pumping stations of Compressed Natural Gas (CNG) continue to remain closed even after the official weekly closure for a day, media reported Sunday...

Troops win $85m in Iraq health risk case

PORTLAND, Oregon: An Oregon jury awarded 12 Army National Guardsmen $85 million in damages from defense contractor KBR Inc. after finding that the company failed to protect them from exposure to cancer-causing chemicals when they served in Iraq. Each...

Lack of fuel, cold threaten NY recovery

NEW YORK: Severe fuel shortages on Sunday threatened New York's attempt to recover from superstorm Sandy as cold temperatures added to almost a week of misery exacerbated by flooded homes, limited public transportation and fraying tempers. But on the...

Hunger Strike Intensifies at Australian Immigration camp

SYDNEY: Australia’s Department of Immigration has confirmed that 170 asylum seekers in Nauru have started a hunger strike. Detainees say that they are protesting their transfer to a remote camp in the South Pacific while they wait to have their refug...

Power returns to chunk of Manhattan

NEW YORK: Electric power returned to 65,000 customers in Manhattan on Friday in a big boost for New Yorkers living in the dark since superstorm Sandy damaged networks, ConEdison power company said. The utility company said the restored power was in t...

Anger over fuel dearth grows in US NEast

NEW YORK: Frustration grew on Friday for residents of Northeast states hit by superstorm Sandy as the death toll reached 102, millions were still without power and tempers frayed at a lack of fuel and guidance on when life might return to normal. New...

LPG price increased by Rs 6 per KG

KARACHI: The price of Liquefied Petroleum Gas (LPG) has been increased by Rs6 per KG, raising the price of domestic and commercial cylinders up to Rs78 and Rs300 respectively, media reported on Friday. Bilal Jabbar, a spokesman for LPG marketing comp...

KSE ends record high

KARACHI: The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.87 percent, or 139.18 points, higher at 16,101.55, on total volume of 191.48 million shares. Stocks closed on a record high Friday, as the index closed above the 16,000 point...

iPad mini launched amid mixed reactions

ROME:Shoppers got their hands on Apple's new iPad mini Friday, launched with less fanfare than previous incarnations amid talk it might have come too late to the 7-inch tablet computer market. The ghost of Apple founder Steve Jobs hung in the air two...

Funds for unapproved projects halted

ISLAMABAD: Supreme Court (SC) has barred the authorities concerned from releasing funds for 724 unapproved uplift projects in Balochistan, media reported. A two-member bench headed by Chief Justice Iftikhar Muhammad Chaudhary was hearing the petition...

FBR issues notices to four cricketers

LAHORE: Four Pakistani players have been issued notices for tax evasion, FBR officials said Friday. Shahid Afridi, Abdul Razzaq, Younis Khan and Umer Akmal are the players who have been issued notices. According to FBR officials, other players of the...

Reduction in transport fares notified

KARACHI: Sindh Transport Department on Friday issued the notification under Provincial Motor Vehicle Ordinance 1965 announcing new reduced fares for public transport in Sindh. According to notification, fares of intercity buses covering 5-kilometers ...

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