klaraset/results
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KARACHI: The Sindh government has decided to bring down public transport fares by 7 per cent due to massive reduction in petroleum product prices by the federal government, Geo News reported.Sources said reduction in fares will be applicable on public transport, rickshaw, taxi and other means of traveling.Meanwhile, Ka... | 1/1/2015 | sindh govt decides to cut public transport fares by 7pc kti rej | business |
HONG KONG: Asian markets started 2015 on an upswing in limited trading on Friday, with mainland Chinese stocks surging in Hong Kong on speculation Beijing may ease monetary policy to boost slowing growth.Hong Kong rose 1.07 percent, closing 252.78 points higher at 23857.82.Seoul closed up 0.57 percent, rising 10.85 poi... | 1/2/2015 | asia stocks up in new year trad | business |
HONG KONG: Hong Kong shares opened 0.66 percent lower Monday following a tepid lead from Wall Street, as the first full week of the new year kicked off.The benchmark Hang Seng Index dipped 158.63 points to 23,699.19.
| 1/5/2015 | hong kong stocks open 0.66 percent lower | business |
HONG KONG: Asian markets tumbled Tuesday following painful losses in New York and Europe while the euro sat near nine-year lows as political uncertainty in Greece fanned renewed fears it could leave the eurozone.Oil prices, which fell below the psychological $50 a barrel mark in US trade, edged up marginally but remain... | 1/6/2015 | asian stocks sink euro near nine year | business |
NEW YORK: US oil prices Monday slipped below $50 a barrel for the first time in more than five years as the surging dollar and news of additional supplies extended a six-month rout.US benchmark West Texas Intermediate for February delivery, in free fall since June, ended at $50.04 a barrel, down $2.65 or five percent. ... | 1/6/2015 | us oil prices slip below 50 a barr | business |
New York: Oil prices tumbled Tuesday to fresh 5.5-year lows as Saudi Arabia blamed weak global economic growth and said it will stick to its guns on production policy.US benchmark West Texas Intermediate for delivery in February sank $2.11 to $47.93 a barrel, a low last witnessed in late April 2009.Brent North Sea crud... | 1/7/2015 | oil hits new 5.5 year lows as saudis defend | business |
KARACHI: Strong bulls on Friday pulled the benchmark KSE-100 Index at Karachi Stock Exchange (KSE) and taking it across the psychological barrier of 33,000 points with a single days gain of 207 points.The investors remained active right from the opening bells of todays trade, contributing 207 points to the major inde... | 1/9/2015 | bullish kse jumps over 33000 psychological barrier | business |
Singapore: Oil fell further in Asia Monday, with weak demand and a supply glut putting relentless pressure on prices already at their lowest in five and a half years, analysts said.US benchmark West Texas Intermediate (WTI) for February delivery was down 81 cents at $47.55 a barrel in mid-morning trade and Brent crude ... | 1/12/2015 | oil falls further in asian trad | business |
KARACHI: Wholesale market rates for sugar dropped to less than Rs 50 per kg following the resumption of sugar cane crushing by sugar mills in Sindh.Within two days, the rate dropped by Rs 1.70 to Rs 49.80 per kg in Karachi Whole Sale Market.According to dealers, the resumption of sugar cane crushing by the mills stabil... | 1/13/2015 | sugar prices drop to rs 49.80 in sind | business |
SYDNEY: Oil prices fell 1 percent on Wednesday after the World Bank cut its economic growth forecast, helping extend a rout that saw prices touch a nearly six-year low the previous session.Oil and other commodities came under pressure after the weaker outlook from the Washington-based financial institution reinforced w... | 1/14/2015 | oil extends losses as world bank cuts growth for | business |
TOKYO: Tokyo stocks opened 0.74 percent lower on Wednesday, hit by the yen´s rise and drops on Wall Street on worries about falling oil prices.The Nikkei 225 index at the Tokyo Stock Exchange lost 125.89 to 16,961.82 at the start.In New York on Tuesday the Dow Jones Industrial Average dropped 0.15 percent and the broad... | 1/14/2015 | tokyo stocks open 0.74 percent lower | business |
HONG KONG: Hong Kong stocks edged up 0.24 percent in early trade Thursday despite a fourth successive day of losses on Wall Street.The benchmark Hang Seng Index added 56.75 points to 24,169.35.
| 1/15/2015 | hong kong stocks open 0.24 percent higher | business |
London: World oil prices rebounded Friday after the International Energy Agency declared there were signs "the tide will turn" following recent multi-year lows.In early afternoon London deals, Brent North Sea crude for delivery in March rallied $1.41 to trade at $49.68 per barrel. US benchmark West Texas Intermediate f... | 1/16/2015 | oil market rebounds on iea repor | business |
ISLAMABAD: Long queues of vehicles on fuel stations were visible in different parts of the country as the petrol became rare commodity on Thursday.Federal Minister for Petroleum Shahid Khaqan Abbasi says "it may take up to ten days to bring the situation to normality".He claimed that northern areas of Pakistan had been... | 1/16/2015 | govt may take up to ten days to overcome petrol shortag | business |
SINGAPORE: Brent crude oil prices traded around $50 a barrel on Monday, with some support coming from falling US output growth but an expectation of weak Chinese economic data weighing on markets.Analysts said prices were receiving some support around current levels but added that there was not much room for larger pri... | 1/19/2015 | brent crude steady around 50 | business |
ISLAMABAD: A two member committee tasked to probe the prevailing petrol shortage on Tuesday said that the situation was a serious failure on the part of OGRA (Oil and Gas Regulatory Authority) as a regulator. The committee presented its initial findings to Prime Minister Nawaz Sharif in a meeting held here under his ch... | 1/20/2015 | report presented to pm holds ogra responsible for fuel crisi | business |
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Wednesday said that a notification has been issued after Novembers fuel adjustment regarding a relief on electricity charges for Karachis consumers.According to the notification, consumers will benefit by a reduction of Rs. 1.73 per unit which wou... | 1/21/2015 | notification issued for reduction in electricity charges for karachi nepr | business |
Hong Kong: Asian markets extended their rally this week, while the euro dipped ahead of a much-anticipated European Central Bank policy meeting that is forecast to see it introduce more monetary easing measures.Tokyo added 0.28 percent, or 48.54 points, to end at 17,329.02, Sydney rose 0.49 percent, or 26.56 points, to... | 1/22/2015 | asia stocks mostly higher ahead of ecb meeting | business |
ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC) on Friday approved export of 1.2 million tons of wheat and imposed a bans on import of wheat byproducts. Federal Minister for Finance Senator Ishaq Dar chaired the meeting and approved the export of 1.2 million tons of wheat out of the surplus stocks a... | 1/23/2015 | ecc approves export of 1.2 million tons of | business |
SINGAPORE: Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's long-serving oil minister.King Abdullah died early on Friday and his brother Salman became king, the roya... | 1/23/2015 | new saudi king seen holding line on opec policy to keep oil output hig | business |
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Friday said that it was unlawful of K-Electric to collect meter rent of Rs. 7.50 per customer.According to a NEPRA spokesman, the regulatory authority has immediately stopped K-Electric from collecting the rent. It has also directed the organisation... | 1/23/2015 | nepra prevents k electric from collecting meter r | business |
ISLAMABAD: Finance Minister Ishaq Dar here on Sunday chaired a briefing session by managing director Pak-Brunei Investment Company seeking details of its present investment financing profile and immediate future plans. Pak-Brunei Investment Company is an investment finance company established as a joint venture between... | 1/25/2015 | finance minister apprised on pak brunei investment | business |
ISLAMABAD: Pakistan's ongoing fuel shortage that has led to worsening power blackouts is weighing on its credit worthiness and hindering its ability to meet key reform targets laid out by the IMF, ratings agency Moody´s warned Monday. The country is currently in the grip of one of its worst power crises in years due to... | 1/26/2015 | pakistan fuel crisis weighing on credit worthiness moody | business |
ISLAMABAD: In a move to give relief to consumers, sources in the Finance Ministry said on Tuesday that the price of petrol and petroleum products are expected to decrease further from February 1.According to sources, the price of petrol is expected to be slashed by Rs 10 per litre, High Speed Diesel by Rs 8.50 per litr... | 1/27/2015 | petrol price expected to be slashed by rs 10 per litr | business |
Hong Kong: The euro extended its gains against the dollar Tuesday while Asian equities climbed on hopes Greece´s new government will be able to negotiate a bailout deal with the EU and IMF that will avoid it leaving the eurozone.Regional investors took their lead from advances in Europe and New York, where news of Sund... | 1/27/2015 | euro maintains gains asia stocks adv | business |
New York: Oil prices rebounded Tuesday from six-year lows as the dollar weakened after disappointing US economic data.The US benchmark, West Texas Intermediate (WTI) for March delivery, rose $1.08 (2.4 percent) to close at $45.16 a barrel.Brent North Sea crude for March settled at $49.60 a barrel in London, up $1.44 fr... | 1/28/2015 | oil rebounds sharply from six year lows as dollar | business |
KARACHI: State Bank of Pakistan (SBP) governor on Thursday urged the country´s Islamic banks to develop ways to reward their customers in line with a surge in the sector´s profitability, or face regulatory action. Islamic finance is experiencing a revival in Pakistan, aided by an ambitious five-year plan that regulator... | 1/29/2015 | sbp warns islamic banks to be more equitab | business |
New York: Oil tumbled to near a six-year low Wednesday as US crude stocks soared to a record high, sparking fresh fears over the growing global supply glut.US benchmark West Texas Intermediate (WTI) for March delivery dropped $1.78 to $44.45 a barrel on the New York Mercantile Exchange, its lowest close since March 200... | 1/29/2015 | oil slumps as us crude reserves surge to record hig | business |
ISLAMABAD: Federal Minister for Finance Ishaq Dar on Saturday announced a five percent increase in the General Sales Tax (GST) on petroleum products.Dar said that the increment would enable a recovery of 12 billion rupees.The minister, however, went on to say that the ministry would still face a loss of 40 billion rup... | 1/31/2015 | finance minister announces five percent increase in gst on pol produ | business |
NEW YORK: US authorities are investigating the credit rating agency Moody's over its glowing assessments of mortgage deals in the runup to the 2008 financial crisis, The Wall Street Journal reported Sunday.Citing people familiar with the situation, the newspaper said Justice Department officials had met with several fo... | 2/2/2015 | us probes moodys rating agency | business |
London: Global oil prices slid Wednesday following a three-day rally as dealers were divided on whether the commodity has bottomed out after a plunge of nearly 60 percent since June. US benchmark West Texas Intermediate (WTI) for delivery in March shed $1.72 to stand at $51.33 a barrel compared with Tuesday´s close.Bre... | 2/4/2015 | oil prices slide after rally | business |
ISLAMABAD: Federal State Minister for Water and Power Abid Sher Ali on Wednesday said that K-Electric should step up production of electricity with immediate effect and end load shedding.The minister while claiming that there is no unannounced load shedding in the country, he added that the few areas facing load sheddi... | 2/4/2015 | no unannounced load shedding anywhere in the country abid sher ali | business |
London: Oil prices fell further Thursday as the market was awash with ample US supplies and the dollar strengthened, dealers said.US benchmark West Texas Intermediate (WTI) for delivery in March shed $1.32 to trade at $49.09 a barrel compared with Wednesday´s close.Brent North Sea crude for March slid $1.12 to stand at... | 2/5/2015 | oil prices extend | business |
DUBAI: Talks between Pakistan and the International Monetary Fund (IMF) concluded successfully on Thursday, with the IMF agreeing to release $518 million by end of March as the next tranche of the three-year $6.6bn Extended Fund Facility (EFF) programme.The mission and the Pakistani authorities have reached staff-leve... | 2/5/2015 | pak imf talks conclude agreement for release of 518 milli | business |
KARACHI: The final shipment of Chinese manufactured Rail Engines arrived in Pakistan on Friday. Federal Railways Minister, Khwaja Saad Rafique says, the inclusion of the new engines will help ease the shortfall faced by Pakistan Railways. The shipment includes 2000 and 3000-horse-power engines which will be used to pul... | 2/6/2015 | final shipment of 15 chinese engines arrives at karachi por | business |
London: Oil prices extended gains on Friday at the end of a volatile trading week, as markets awaited the release of key US jobs data.US benchmark West Texas Intermediate (WTI) for March delivery jumped $1.41 from Thursday´s close to $51.89 a barrel.Brent North Sea crude for March rallied $1.64 to $58.21 a barrel in Lo... | 2/6/2015 | oil extends gains before us jobs d | business |
ISLAMABAD: The Ministry of Water and Power issued a statement on Friday saying that the contract to supply 650MW of electricity to K-Electric cannot be renewed.The ministry went on to say that K-Electric should ensure its own production at full capacity to meet the demands.It further said that in case of an emergency s... | 2/6/2015 | contract for 650mw supply to k electric cannot be renewed ministry | business |
TOKYO: Tokyo stocks opened 1.09 percent higher on Friday, with investor sentiment supported by sharp gains on Wall Street and assurances that Greek banks will get liquidity funding.The Nikkei 225 index at the Tokyo Stock Exchange gained 191.56 points to 17,696.18 at the start.The Dow Jones Industrial Average jumped 1.2... | 2/6/2015 | tokyo stocks open up 1.09 per | business |
ISLAMABAD: The consistent fall in the price of petrol saw a record sale in the month of January, with a 32 percent increase as compared to January 2014.Consumers across the country bought 0.39 million tonnes of petrol in January this year.According to industry sources, the price difference between petrol and compressed... | 2/7/2015 | january 2015 saw record sale of petrol in paki | business |
London: Oil prices advanced further Monday with buying boosted by a dip in North American crude production, while a robust US jobs report also provided support, analysts said. US benchmark West Texas Intermediate for delivery in March advanced $1 to $52.69 a barrel compared with Friday´s close.Brent North Sea crude for... | 2/9/2015 | oil prices extend gai | business |
LONDON: British bank HSBC Holdings Plc admitted on Sunday failings by its Swiss subsidiary, in response to media reports it helped wealthy customers dodge taxes and conceal millions of dollars of assets."We acknowledge and are accountable for past compliance and control failures," HSBC said on Sunday after news outlets... | 2/9/2015 | hsbc admits swiss bank failings over client tax | business |
Singapore: Oil prices fell in Asia on Tuesday after the International Energy Agency (IEA) predicted that global oil prices will recover only partially over the next five years, analysts said.US benchmark West Texas Intermediate (WTI) for March delivery slipped 74 cents to $52.12, while Brent crude for March eased 77 ce... | 2/10/2015 | oil prices fall as iea predicts weak rebound | business |
MUZAFFARABAD: The Intra-Kashmir trade service will resume tonight after six days of its suspension at the Chakothi crossing point, Geo News reported on Wednesday.The trade service was suspended after authorities in Indian occupied Kashmir leveled allegations of smuggling.It was suspended when a truck from Azad Kashmir ... | 2/11/2015 | intra kashmir trade resumes after six day | business |
ISLAMABAD: Prime Minister Nawaz Sharif on Wednesday called for speedy implementation of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project terming it critical for the regional countries.The meeting in Islamabad included Petroleum Ministers of Turkmenistan, Afghanistan and India as well as Pakistans Mi... | 2/11/2015 | pakistan wants early implementation of tapi project | business |
SYDNEY: Cricket fever has gripped Australia with the World Cup just days away. Fans from around the world have thronged to the country and hotels are capitalising. Prices of rooms have almost doubled to 300 dollars and hotels are experiencing full bookings. Experts estimate that during the mega event Australia will gen... | 2/11/2015 | hotel prices skyrocket in australia ahead of world cu | business |
Karachi: Microsoft Devices Pakistan announced the availability of Nokia 215 Dual SIM, its most affordable Internet-ready phone, in the country. The Nokia 215 Dual SIM is designed to connect and introduce first-time mobile phone buyers to the Internet and new digital experiences. The Nokia 215 Dual SIM will expand the r... | 2/12/2015 | nokia 215 dual sim launched in paki | business |
ISLAMABAD: Federal Finance Minister Ishaq Dar on Thursday said that only companies will be issued National Tax Numbers (NTN) from now onwards while the Computerised National Identity Card (CNIC) numbers will be treated as tax numbers for individuals.While addressing the National Assembly today, Dar said that a shortfal... | 2/12/2015 | cnic number now tax number only companies allowed ntn dar | business |
ISLAMABAD: Government has put in place new taxes of Rs4 billion while regulatory duty on 314 luxury items has been ratcheted up to 10 percent.The decision comes weeks after the central bank suggested in its monetary policy report that it would be challenging for the government to meet the revenue targets for the curren... | 2/12/2015 | govt imposes new taxes of rs4 billi | business |
Singapore: Oil prices edged higher in Asia Thursday but gains were capped owing to concerns about surging stockpiles in the United States, the world´s top consumer, analysts said. US benchmark West Texas Intermediate for March delivery rose 69 cents to $49.53 while Brent crude for March gained 34 cents to $55.00 in aft... | 2/12/2015 | oil prices rise in asian trad | business |
London: World oil prices rose Friday, extending solid gains in the previous session in response to reports that leading petroleum producers are curtailing investment.US benchmark West Texas Intermediate (WTI) for March delivery added 75 cents to $51.96 a barrel compared with Thursday´s close.Brent North Sea crude for A... | 2/13/2015 | oil prices extend gai | business |
KARACHI: The price of furnace oil used in the production of electricity in Pakistan has increased by about Rs 2000 per tonne to reach Rs 37400 per tonne.A rise in global crude oil prices has affected the otherwise consistently falling price of furnace oil. According to experts, the constant falling price of furnace oil... | 2/16/2015 | furnace oil price rises by about rs 2000 per | business |
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) issued a notification on Tuesday regarding provision of relief of Rs 3.24 per unit to power consumers.According to the notification, the regulatory authority decided the reduction after a review of the fuel price adjustment for December 2014.The relief... | 2/17/2015 | nepra notifies relief of rs 3.24 per unit for consumer | business |
CAIRO/ISLAMABAD: State-run Gulf energy company Qatargas is in the final stages of talks on a deal to supply Pakistan with 3 million tonnes of liquefied natural gas (LNG) annually for 15 years, industry sources in Doha told Reuters on Wednesday.The deal would help the country tackle serious energy shortages and power cu... | 2/18/2015 | qatargas pakistan close to 15 year lng supply d | business |
Hong Kong: Asian markets rallied and the euro held up Wednesday on hopes of a settlement in Greece´s debt stand-off after it emerged that the country will ask for an extension to its bailout and avoid a painful eurozone exit.Another record close on Wall Street also provided support, although trade was thin with some ma... | 2/18/2015 | asia stocks boosted by greek debt deal | business |
ISLAMABAD: Pakistans Finance Minister Ishaq Dar said the cost of ongoing Operation Zarb-e-Azb in North Waziristan may exceed $1.3 billion. Dar met with US Senate Armed Services Committee member, Jack Reed and Ambassador Richard Olson and informed them that the Pakistani government had already spent $400 million on th... | 2/19/2015 | operation zarb e azb may cost over 1.3 billion dar | business |
New York: Oil prices fell on Wednesday before the release of a report on US crude inventories as traders kept an eye on unrest in crude exporter Libya.US benchmark West Texas Intermediate for delivery in March shed $1.39 to $52.14 a barrel compared with Tuesday´s close.European benchmark Brent oil for April delivery sl... | 2/19/2015 | oil prices fall on eve of us inventory d | business |
SAN FRANCISCO: Apple Inc aims to begin producing electric vehicles as early as 2020, Bloomberg reported.The report cited people with knowledge of the matter as saying, a seemingly aggressive target for a mobile devices maker with little experience in car manufacture.The iPhone maker is pushing its "car team" of about 2... | 2/20/2015 | apple to begin manufacturing electric vehicles as early as 2020 | business |
New York: New York oil prices fell in late trade Friday, with the WTI contract breaking away from a stable trade in London to fall near the $50 dollar line.West Texas Intermediate for March delivery settled at the official close at $50.32 a barrel, down 82 cents from Thursday, as the contract expired. WTI then continue... | 2/21/2015 | oil prices fall in new yor | business |
ISLAMABAD: Minister for Petroleum Shahid Khaqan Abbasi on Monday said the government will begin importing Liquefied Natural Gas (LNG) from March 31.Talking to Geo News, the Petroleum Minister said initially 300 MMCFD (million cubic feet per day) of LNG will be imported. After six months the import volume will be increa... | 2/23/2015 | lng import to begin from march 31 abbasi | business |
London: Oil prices slid Monday, extending last week´s sharp decline as the dollar strengthens on eurozone strains and record supplies in the United States add further downward pressure.US benchmark West Texas Intermediate (WTI) for delivery in April shed $1.17 to $49.64 a barrel compared with Friday´s close.Brent North... | 2/23/2015 | oil prices extend slid | business |
KARACHI: The price of sugar decreased by 50 paisas in the wholesale market and is now being sold at Rs 49 per kilo. According to sources in the wholesale market, the price decrease took place due to an increase in the supply of sugar. The price decrease is also being experienced at the retail level where sugar is being... | 2/23/2015 | price of sugar decreases in karachi | business |
London: Oil prices rebounded slightly Tuesday after recent sharp losses caused by an oversupplied market.US benchmark West Texas Intermediate (WTI) for April delivery rose 39 cents to $49.84 a barrel.Brent North Sea crude for April climbed 51 cents to stand at $59.41 a barrel in London afternoon deals.WTI shed $1.36 in... | 2/24/2015 | oil prices rebound slightly | business |
TOKYO: Tokyo stocks opened flat on Tuesday after recent advances to 15-year highs as caution over a Greek debt deal grew.The Nikkei 225 index at the Tokyo Stock Exchange was up 1.47 points, or 0.01 percent, at 18,468.39 at the start.The euro remained under pressure as traders waited to see if Greece could complete the ... | 2/24/2015 | tokyo stocks open f | business |
ISLAMABAD: All the petroleum products except diesel are likely to be increased from March 01, Geo News reported.Sources said Oil and Gas Regulatory Authority (OGRA) has prepared summary for hike in the POL product prices on the basis of 27 per cent General Sales Tax (GST) and moved it to Ministry for Petroleum.Sources ... | 2/26/2015 | pol prices likely to go up from march 1 | business |
London: Oil prices rebounded Friday on bargain-hunting at the end of a volatile trading week, having slumped the previous day as surging US crude reserves added to the global supply glut.European benchmark Brent North Sea crude for April delivery rallied $1.14 to $61.19 a barrel in London midday deals.New York´s West T... | 2/27/2015 | oil rebounds after volatile | business |
ISLAMABAD: Ambassador of Tajikistan Sher Ali Jononov on Friday said that his country was preparing to export sizeable quantity of electricity to Pakistan to lessen the intensity of the energy crisis which has compromised economic growth. The KASA 1000 project is among the major electricity transfer projects in the regi... | 2/27/2015 | tajikistan to help pakistan overcome energy crisis through kasa 1000 proj | business |
London: Global oil prices fell Monday, after bumper gains before the weekend, as many traders took profits and eyed plentiful world crude supplies, analysts said. European benchmark Brent North Sea crude for April delivery dropped $1.26 to $61.32 a barrel in London early afternoon deals.New York´s West Texas Intermedia... | 3/2/2015 | oil market recoils on oversupply | business |
HONG KONG: Hong Kong stocks rose 0.70 percent in the first few minutes of trade Monday after China´s central bank at the weekend cut interest rates for the second time since November.The benchmark Hang Seng Index added 173.47 points to 24,996.76.
| 3/2/2015 | hong kong stocks open 0.70 percent higher | business |
NEW YORK: Billionaire philanthropist Bill Gates kept his spot as the worlds richest man, a rank he has held for 16 of the past 21 years, Forbes magazine said Monday.The Microsoft co-founders fortune increased $3.2 billion since last year to $79.2 billion, the business magazine said, despite a $1.5 billion gift of Mic... | 3/3/2015 | bill gates still the richest man in the world | business |
ISLAMABAD: Federal Minister for Water and Power Khawaja Asif on Wednesday said that despite the expiry of an agreement with the K-Electric, power is being supplied to it keeping in view the interest of people of the metropolis.Speaking to media representatives, he said that K-Electric has the capacity to generate suffi... | 3/4/2015 | pact with k electric expired govt not bound to provide power asif | business |
London: Oil prices rose on Friday as dealers awaited US jobs data and focused on increasing tensions in the Middle East and Ukraine.US benchmark West Texas Intermediate for delivery in April added 14 cents to $50.90 a barrel.Brent North Sea crude for April gained 56 cents to stand at $61.04 a barrel around midday in Lo... | 3/6/2015 | oil prices rise before us jobs d | business |
DUBAI: Bahria Town and K-Electric signed an agreement on Saturday, which will add 500MW of electricity supply for Karachi. According to the deal inked in UAE, KElectric will set up one coal based and one liquefied natural gas (LNG) based power plant in the metropolis and will supply uninterrupted power to Bahria Town K... | 3/7/2015 | bahria town kelectric ink agreement on power plants for karachi | business |
ISLAMABAD: International Monetary Fund (IMF) Director for Middle East and Central Asia, Masood Ahmed said the economic survey of Pakistan is conducted keeping in mind the security situation in the country. Speaking at a seminar here, Ahmed said the IMF was aware that billions spent on security were putting pressure on ... | 3/9/2015 | security situation integral in economic survey of pakistan imf | business |
ISLAMABAD: The Federal Bureau of Revenue (FBR) has begun chasing wealthy tax-dodgers who enjoy lives of extravagance and luxury, but revenue officials face huge challenges in trying to force the very richest and most influential to pay up.Pakistan's tax-to-GDP ratio of 9.5 percent is among the lowest in the world a... | 3/9/2015 | fbr moves to widen tax net but big fish yet to be caug | business |
LONDON: The US dollar hit multi-year highs against the euro and yen on Tuesday on the growing chance of the Federal Reserve hiking interest rates by mid-year, the prospect of which also hurt stocks and currencies from emerging markets.The skittish mood spread from Asia to Europe where stocks were down for a second day ... | 3/10/2015 | dollar at 12 year peak vs euro emerging markets spooked | business |
KARACHI: Compressed Natural Gas (CNG) outlets in Sindh will remain suspended on second consecutive day Thursday.Sui Southern Gas Company (SSGC) officials said duration for closure of CNG stations across the province has been extended due to shortage of gas in the system.According to the schedule, the CNG outlets remain... | 3/11/2015 | cng stations in sindh to remain shut on thursday | business |
London: World oil prices rose Thursday on the back of the weaker dollar, but gains were capped after US crude reserves swelled again to a record high.In midday London deals, European benchmark Brent North Sea crude for April delivery advanced 82 cents to $58.36 a barrel.US benchmark West Texas Intermediate (WTI) for Ap... | 3/12/2015 | oil market adv | business |
The International Monetary Fund (IMF) has cited Pakistans prudent monetary and fiscal policies along with other measures as reasons for an improvement in the countrys economy, reported The Wall Street Journal. Director IMF Middle East and Central Asia Department, Masood Ahmed following his visit to Pakistan said: Th... | 3/12/2015 | pakistans economy improving imf | business |
London: World oil prices sank Friday after the International Energy Agency warned over the price outlook amid bulging global supplies.In midday London deals, European benchmark Brent North Sea crude for April delivery fell 57 cents to $56.51 a barrel.US benchmark West Texas Intermediate (WTI) for April shed 72 cents to... | 3/13/2015 | oil market drops on iea price warning | business |
Islamabad: The Economic Coordination Committee (ECC) has approved allocation of 75 per cent gas from Turkmenistan-Afghanistan-Pakistan-India (TAPI) to Sui Northern Gas Pipelines and 25pc to Southern Gas Company.The approval was given during ECCs meeting held in Islamabad on Saturday with Finance Minister Ishaq Dar in ... | 3/14/2015 | ecc approves allocation of 75pc gas from tapi to sng | business |
London: New York oil prices sank to a six-year low on Monday, falling below $44 per barrel as the market was plagued by plentiful supplies and the strong dollar.In earlier deals, US benchmark West Texas Intermediate (WTI) for April delivery dived as low as $43.57 -- hitting the lowest since March 12, 2009.The contract ... | 3/16/2015 | us oil price hits six year | business |
KARACHI: The announcement of Monetary Policy for the next two months is likely to be made on March 21 by the State Bank of Pakistan (SBP).The experts are expecting a further cut in the policy rate in view of improvement in the countrys foreign exchange reserves, stability in rupee value and the decline of inflation ra... | 3/16/2015 | further cut in sbp policy rate expected | business |
London: New York oil prices approached six-year lows Tuesday on worries over growing US stockpiles and after OPEC warned of a stubborn global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for April delivery slid to $42.63 a barrel -- touching the lowest level since March 11, 2009. It later stood... | 3/17/2015 | us oil price nears six year | business |
LAHORE: Federal Minister for Railways, Khawaja Saad Rafique Tuesday announced good news of pay-raise for the employees of Pakistan Railways.In a media statement, the Minister disclosed that a summary for increase in salaries for the employees of Pakistan Railways has been forwarded to the Prime Minister.He also said th... | 3/17/2015 | pay raise for railways employees on card | business |
KARACHI: Bearish spell at Karachi Stock Exchange (KSE) grew in strength on Wednesday, as the benchmark KSE 100-share Index witnessed a sharp decline of 817.28 points or 2.5 percent to close at 31,524.During the intra-day trading, the main Index at one point took a nosedive and lost over 1,000 points. But, some support ... | 3/18/2015 | stocks tumble as kse 100 share index drops 817 poi | business |
Singapore: Oil prices extended their losses in Asia Wednesday to new six-year lows on expectations US crude stockpiles will rise further, in a market already awash with supplies, analysts said.US benchmark West Texas Intermediate for April delivery eased 83 cents to $42.63 in afternoon trade, the lowest level since Mar... | 3/18/2015 | oil prices extend losses in asi | business |
Tokyo: The dollar struggled to recover Thursday after diving on comments from the US Federal Reserve that cooled expectations of an early summer interest rate hike.In Tokyo, the greenback briefly fell below 120 yen before ticking up to 120.22 yen by midday, well down from 121.35 yen level in Tokyo before the US central... | 3/19/2015 | dollar pressured after fed tempers interest rate | business |
KARACHI: The State Bank of Pakistan on Saturday announced the new monetary policy for the next two months keeping interest rate at an all time low since 13 years.The central bank reduced interest rate by 0.5 percent and brought it down to eight percent.Experts were expecting a reduction of one percent.Despite a signifi... | 3/21/2015 | sbp announces monetary policy 13 year low interest r | business |
SINGAPORE: Oil prices dropped on Tuesday after activity in China's factory sector fell to an 11-month low and as Saudi Arabia said its production was close to an all-time high.The flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level that separates growth in activity from ... | 3/24/2015 | oil drops as saudi output nears record china demand worries drag | business |
KARACHI: Moodys upgraded Pakistans dollar bonds rating one notch from stable to positive on Wednesday on the back of the countrys improving macroeconomic indicators.The financial ratings firm said its decision came in view of Pakistans strengthening foreign exchange reserves.Pakistan has been trying to boost its fl... | 3/25/2015 | moodys upgrades pakistan bond rating | business |
Singapore: Oil prices were mixed in Asia Wednesday ahead of the release of US stockpiles data, a closely watched barometer of demand in the world´s biggest consumer of the commodity, analysts said.US benchmark West Texas Intermediate fell 12 cents to $47.39 and Brent was up five cents at $55.16 in afternoon trade.Crude... | 3/25/2015 | oil prices mixed in asia before us stockpiles d | business |
KARACHI: A shipment of 147,000 cubic feet of Liquefied Natural Gas (LNG) from Qatar arrived at the Karachi anchorage on Thursday in a Floating Storage Regasification Unit (FSRU).The FSRU, after going through clearance, is expected to dock at Engro Corporation´s Elengy Terminal Pakistan Limited (ETPL), where the cargo w... | 3/26/2015 | first qatar lng shipment reaches karachi por | business |
Hong Kong: Asian markets mostly wound back Thursday, in line with a hefty sell-off on Wall Street, after surprisingly weak US data hinted at ongoing weakness in the world´s number one economy.The euro broke above $1.10, boosted by receding expectations of an early US rate hike and upbeat indicators out of the eurozone.... | 3/26/2015 | asian markets follow wall st lower after us d | business |
London: Oil prices fell Friday after spiking the previous day as Saudi Arabian jets struck rebel targets in Yemen, sparking supply fears in the crude-rich Middle East.Brent North Sea crude for delivery in May sank 63 cents to $58.56 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May slid... | 3/27/2015 | oil drops after yemen inspired gai | business |
KARACHI: Pakistani stocks continued their free-fall at the start of the week, with the benchmark Karachi Stock Exchange 100-index falling over 1,000 points or 3.5 per cent during trading on Monday.The benchmark index was at a six-month low of 28,927.04 points at the close of trading, down 1,030.79 points or 3.34 per ce... | 3/30/2015 | free fall continues as kse 100 plummets 1000 poi | business |
SINGAPORE: Oil prices fell on Monday as traders focused on whether Iran and six world powers would reach a deal that could add fuel to an already oversupplied market if sanctions against Tehran are lifted.The two sides are trying to reach an agreement in nuclear negotiations by a Tuesday deadline."Any relaxation of Ira... | 3/30/2015 | oil prices drop on weak demand potential iran d | business |
ISLAMABAD: The new price of petrol effective from midnight Tuesday, October 31, will be Rs 74.29 per litre.The price of petrol has been increased by Rs 4 per litre for the month of April.Similarly, the price of diesel has been increased by Rs 3 per litre.All other POL prices will however remain same.The Oil and Gas Reg... | 3/31/2015 | petrol price goes up by rs 4 for apri | business |
KARACHI: Pakistans main stock index witnessed a bullish trend as it rebounded over 1,100 points during day trading on Tuesday, a day after the market plunged around 3.5 percent on fears of a selling spree by foreign investors.The benchmark Karachi Stock Exchange (KSE) 100-index was hovering around 30,028.85 points at ... | 3/31/2015 | stock market regains 1100 points to recover from previous days plung | business |
ISLAMABAD: The new price of petrol effective from midnight Tuesday, October 31, will be Rs 74.29 per litre.The price of petrol has been increased by Rs 4 per litre for the month of April.Similarly, the price of diesel has been increased by Rs 3 per litre.All other POL prices will however remain same.The Oil and Gas Reg... | 3/31/2015 | petrol price increased by rs 4 for the month of apri | business |
ISLAMABAD: Chinese companies have expressed interest to invest in Pakistans oil and gas sector, the Petroleum Ministry revealed on Wednesday. A notification issued by the ministry stated that a workshop has been held in this regard. Pakistan was represented by the Petroleum Secretary while China was represented by the... | 4/1/2015 | china to invest in pakistans oil and gas sector | business |
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