Economy

  KSE hits new peak at 30,000 points

KARACHI: The prices of equities surged at Karachi Stock Exchange (KSE) as its benchmark KSE 100-share Index shot up beyond the psychological barrier of 30,000 points on Thursday. The KSE 100 Index witnessed a massive gain of 400 points to close at 30...

  PM Nawaz inaugurates two road projects in Chakwal

CHAKWAL: Prime Minister Nawaz Sharif inaugurated two double-way road projects—Mandra-Chakwal and Sohawa-Chakwal during his short visit on Wednesday here. Addressing the inaugural ceremony, the prime minister said that when he came to power, the treas...

  Dollar rises in Asia on Fed chief rate comments

TOKYO: The dollar rose in Asia on Wednesday as the head of the US Federal Reserve indicated that interest rates could rise earlier than expected if the world´s biggest economy continues to pick up pace. In Tokyo afternoon trade, the dollar bought 101...

  Gemstone industry struggles with unrest

PESHAWAR: For 400 years the craftsmen and traders of Peshawar´s jewellery bazaar have cut, polished, set and haggled over precious gems dug from the rugged mountains of northwest Pakistan. Pakistan´s gem and jewellery exports have boomed in recent ye...

  China industrial output up 9.2 percent on-year in June: govt

BEIJING: China´s industrial production, which measures output at factories, workshops and mines in the world´s second-largest economy, rose 9.2 percent year-on-year in June, the government announced Wednesday. Retail sales, a key indicator of consume...

  Oil prices up in Asian trade

SINGAPORE: Oil prices rebounded on bargain-hunting in Asia Wednesday following sharp losses in the previous session that were stoked by easing Middle East supply concerns, analysts said. US benchmark West Texas Intermediate (WTI) for August delivery ...

  No one will be allowed to stop progress in Pakistan: PM

ISLAMABAD: Emphasising that a few thousand people could not change the mandate of millions, Prime Minister Nawaz Sharif warned that no one would be allowed to stop progress in Pakistan. Addressing the Taxpayers Privileges and Honour Card Schemes, Pri...

  Hong Kong stocks open 0.58% higher

HONG KONG:Hong Kong stocks rose 0.58 percent Tuesday following a healthy rally on Wall Street as investors await the release of Chinese economic growth data later in the week.The benchmark Hang Seng Index added 136.17 points to 23,482.84.AFP...

  Two dead, 18 missing as boat capsizes off Malaysia

KUALA LUMPUR: At least two people died and 18 others were missing after an overloaded fishing boat carrying illegal Indonesian immigrants capsized off the coast of southern Malaysia, a maritime official said Tuesday. The small fibreglass boat overtur...

  Not just football: Argentina market down, Germany up

BUENOS AIRES: It's not just Argentine soccer fans who woke up depressed following their nation's 1-0 defeat to Germany in the World Cup final. Traders in Buenos Aires were also feeling blue. Argentina's main Merval index was down 0.6% in early aftern...

  Zardari reference: Court grants appeal to argue again

ISLAMABAD: The Accountability Court granted the appeal of the counsel of former president Asif Ali Zardari to argue again in NAB reference on Tuesday here, media reported. During the hearing today, the counsel Faruque H. Naek prayed that he wanted to...

  Oil prices mixed

SINGAPORE: Oil prices were mixed in Asia Tuesday 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. US benchmark West Texas Intermediate for August de...

  Dollar, euro hold gains against yen after BoJ meeting

TOKYO: The dollar and euro maintained recent gains against the yen on Tuesday after the Bank of Japan held off expanding its huge stimulus programme. After a two-day meeting the central bank said the world´s number three economy was recovering despit...

  Moody’s changes Pakistan’s rating outlook to stable

SINGAPORE: Moody's Investors Service has revised the outlook on Pakistan's foreign currency government bond rating to stable from negative. The rating is affirmed at Caa1. Concurrently, Moody's has affirmed the government's issuer rating and senior u...

  Unannounced load shedding plagues Lahore

LAHORE: There is no respite for the residents of Lahore in the holy month of Ramzan as unannounced load shedding continues in the city. Residents of the city and surrounding areas have to face 14-16 hours of unannounced load shedding. The power outag...

  Karachi protests unannounced loadshediing in Ramazan

KARACHI: The duration of unannounced loadshedding of electricity has increased with the increasing shortfall in power supply in the country, while the hapless masses continue living a miserable life in this scorching summer heat in the month the holy...

  Jolie to visit Nauru to check refugee facilities

SYDNEY: Hollywood star and UN refugee envoy Angelina Jolie has accepted an invitation to visit the small island of Nauru where Australia sends asylum-seekers for processing and resettlement, the government said Monday. Jolie, a UN goodwill ambassador...

  Major power breakdown at Dhabeji, Gharo Pipri pumping stations

DHABEJI: A 72-inch diameter PRCC line in Dhabeji exploded due to abrupt power breakdown at Dhabeji, Gharo and Pipri pumping stations, media reported. Over 500 million gallons/ per day of water is supplied to Karachi from Dhabeji pumping station. Sour...

  Asian shares gain ahead of China growth data

HONG KONG: Asian shares rose Monday as traders awaited a flurry of key economic data this week including Chinese growth figures that will shed light on the health of the world´s second largest economy. Tokyo gained 0.33 percent, Hong Kong climbed 0.9...

  Oil prices rebound in Asia

SINGAPORE: Oil rebounded in Asia Monday on bargain hunting following sharp falls last week stoked by the prospect of a revival in Libyan supplies. US benchmark West Texas Intermediate for August delivery was up nine cents to $100.92 in mid-morning tr...


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