Economy

  Petrol price reduced by a meagre Rs0.48

ISLAMABAD: In the latest monthly revision of petroleum products prices the government has reduced that of petrol by a meager Rs0.48 per litre, media reported. A notification issued here by Oil & Gas Regulatory Authority (OGRA) sets the new pric...

  Euro sinks in Asia on deflation fears

TOKYO: The euro extended its losses in Asian trade Friday after a weak set of inflation data raised fears the debt-wracked eurozone could sink into a deflationary spiral. The single currency bought $1.3547 and 133.04 yen in Tokyo, against $1.3...

  Oil prices mixed in Asia

SINGAPORE: Oil prices were mixed in Asia Friday on weak US demand and news that a terminal in Libya will resume production early next week, analysts said. New York's main contract West Texas Intermediate (WTI) light sweet crude for December de...

  Pakistan plans $750mn eurobond issue to boost FX reserves

KARACHI: Pakistan is planning its first eurobond issue for six years and aims to raise $750 million to boost dwindling foreign exchange reserves and shore up the rupee, officials said.   The finance ministry has approached several international b...

  Karachi Stock Exchange gains a staggering 465 points

KARACHI: Karachi Stock Exchange (KSE) closed the month on a positive note getting stronger with above 2 percent here on Thursday   The benchmark KSE-100 Index jumped by 2.09 percent or 465.26 points to 22,775.85.   According to analysts Thursday’...

  No chance to abandon Pak-Iran pipeline project: petroleum minister

ISLAMABAD: Pakistan insisted Thursday that it was still keen to press ahead with a troubled pipeline to bring gas from Iran, despite comments by an Iranian minister that he had no hope for its completion. The $7.5-billion project, aimed at easi...

  Dollar softens in Asia after Wall St rally

TOKYO: The dollar eased in Asia Thursday, paring gains in New York after the US Federal Reserve kept its stimulus programme in place but gave an upbeat view of the economy dealers took as a hint at a wind down soon. The greenback bought 98.45 ...

  Oil prices ease in Asian trade

SINGAPORE: Oil prices fell in Asian trade Thursday, in line with regional equities, after the US Federal Reserve kept its stimulus programme unchanged, analysts said. But while maintaining the $85 billion a month bond-buying scheme, the Fed ga...

  Asian shares slip, Fed outlook fuels taper rumours

HONG KONG: Asian markets slipped Thursday after the US Federal Reserve kept its stimulus programme unchanged but gave a rosier than expected summary of the economy which fuelled expectations it will start winding it down soon.   While the centra...

  NPF graft case: SC orders criminal proceedings against Anjum Aqeel

ISLAMABAD: The Supreme Court (SC) has directed the authorities concerned to initiate criminal proceedings against Anjum Aqeel, former MNA of Pakistan Muslim League-Nawaz (PML-N) in National Police Foundation (NPF) corruption case, media reported. ...

  Labourer killed in factory explosion in Hub

HUB: A man was killed when one of the walls collapsed due to an explosion occurred at a factory in Hub’s industrial area Thursday morning, media reported. According to the rescue sources, one worker was killed and several others were injured w...

  CJ orders DG ANF to rid Karachi of narcotics trade

KARACHI: Chief Justice Iftikhar Muhammad Chaudhry remarked on Wednesday directs Director General, Anti Narcotics Force to eliminate narcotics’ trade from Karachi within a week.   A three-judge bench of the SC was hearing the Karachi law and order...

  Iran 'not hopeful' of exporting gas to Pakistan: minister

TEHRAN: Iran’s Oil Minister Bijan Namdar Zagnaeh announced on Wednesday that the country was likely to abandon the multi-billion dollar pipeline project with Pakistan, Fars news agency reported.   The Iranian Oil Minister told reporters on the si...

  Ethiopia opens Africa's largest wind farm to boost power production

The Horn of Africa country - plagued by frequent blackouts - plans to boost generating capacity from 2,000 MW to 10,000 MW within the next three to five years, much of it coming from the 6,000 MW Grand Renaissance Dam under construction on the Nil...

  Dollar steady in Asia ahead of Fed decision

TOKYO: The dollar held steady in Asia on Wednesday as investors await the end of the US Federal Reserve's policy meeting, looking for clues about its plans for its stimulus programme. The greenback bough 98.19 yen in Tokyo midday trade against ...

  Asian shares rally ahead of Fed policy decision

HONG KONG: Asian markets rose on Wednesday and the dollar held up against the yen after another record finish on Wall Street, but trade was cautious ahead of a Federal Reserve policy decision.   With few trading cues to drive business, investors ...

  Oil prices dip ahead of US stockpiles report

SINGAPORE: Oil prices edged lower in Asian trade Wednesday on expectations of a further increase in US inventories, indicating weak demand in the world's top crude consumer. New York's main contract, West Texas Intermediate (WTI) for delivery i...

  LEAs foil bid to smuggle more than 10 KG heroin

LAHORE: Law Enforcement Agencies (LEAs) have foiled a bid to smuggle more than 10 kilograms of high quality heroin at Lahore Airport.   According to Anti Narcotics Force (ANF) sources, a vehicle carrying footballs was checked at Lahore airport. T...

  14 buildings sealed in city.

LAHORE: Special teams of the Town Planning Wing of Lahore Development Authority (LDA) sealed a total of 14 buildings on various grounds, in Allama Iqbal Town on Tuesday. The teams sealed as many as 10 buildings due to non-obtaining of completi...

  Turkey unveils world's first sea tunnel connecting two continents

ISTANBUL: Turkey unveils Tuesday the world's first sea tunnel connecting two continents, fulfilling a sultan's dream 150 years ago in a three-billion-euro mega project driven by the government.   The 13.6-kilometre (8.5 mile) long tunnel linking ...


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Feature / Analysis

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