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  • ​Value of Indonesian Su-35 buy pegged at $1.14 billion

    August 23, 2017 7:30 AM 1

    Jakarta has confirmed that it will buy 11 Sukhoi Su-35 fighter aircraft for $1.14 billion, with a major component of the deal involving agricultural commodities. In a joint press conference, Indonesia's defence minister and trade minister stated that under the deal, Moscow will be obligated to accept 50% of the contract value in local commodities

  • Car production in Pakistan increases 5.39%

    August 21, 2017 1:04 AM 1

    ISLAMABAD, Pakistan: With 5.39 percent spread in production of jeeps and cars and 20.74 percent in motorcycles, the Country’s total automobiles output witnessed impressive growth during the fiscal year 2016-17. As many as 190,466 jeeps and cars were manufactured during the period from July-June (2016-17) compared to the production of 180,717 during July-May

  • Shell Loads First Load of Cargo Containing Oil From Libya in 5 Years

    August 20, 2017 6:00 PM 5

    Royal Dutch Shell loaded 600,000 barrels of crude oil from the Libyan port of Zueitina on Saturday, industry sources said, its first cargo from the war-torn country in over five years. In June analysts reported a peak in oil output in Libya with around a million barrels a day (BPD) produced in the country, a four-year high. A spokesman for Shell, the world's

  • Why Yellen's Jackson Hole speech could be a dud

    August 20, 2017 2:32 PM 1

    Janet Yellen speaks on Friday at the Kansas City Fed's Jackson Hole symposium. The annual event is a traditional spot for central bankers to set the agenda for the final stretch of the year. That said, there are no guarantees and a clue in the schedule suggests it might not be Yellen who makes a splash. The topic of her speech is 'financial stability'

  • Shell lifts first cargo from Libya

    August 20, 2017 12:00 AM 8

    DUBAI: Royal Dutch Shell has lifted a cargo of 600,000 barrels of crude oil from Libya´s Zueitina port, its first from the war-torn north African country in 5 years, two industry sources told Reuters on Saturday. "Libya is a significant resource holder and Shell International Trading and Shipping Company Ltd (STASCO) has a history marketing Libyan crudes

  • TPL Maps launches Urdu service

    August 19, 2017 12:00 AM 11

    KARACHI: TPL Maps has introduced “TPL Maps Urdu”, a detailed mapping service in the national language, a statement said on Friday. The customised solutions and enhanced features in Urdu language will play an integral part for individuals and corporations, it added. The updated maps with Urdu language support will show user’s the name of city, localities

  • HMB profit down 2.5 percent

    August 19, 2017 12:00 AM 9

    Habib Metropolitan Bank (HMB) has earned a net profit of Rs2.32 billion for the half-year ended June 30, 2017, down 2.5 percent as compared to the profit of Rs2.383 billion during the same period of the last year, a bourse filing said on Friday. The earnings per share (EPS) stood at Rs2.18 as against Rs2.27 during the same period of the last year. “The bank has not announced

  • ETF Topper: Crude Oil Gets a Bump

    August 18, 2017 9:45 PM

    Crude oil-tracking exchange-traded products rose to the top of the heap. Crude prices got a lift on Friday as the dollar weakened and U.S. drillers cut rigs. Front month Nymex for September delivery rose 3% to $48.51 and ICE Brent for October delivery climbed 3% to $52.72. Those gains pulled the iPath S&P GSCI Crude Oil Total Return ETN (OIL) and the United

  • Army to Get 6 Apache Attack Helicopters in Deal Worth Rs 4,168 Crore

    August 18, 2017 12:29 PM 1

    This is the first time the Army will get attack helicopters. The Boeing AH-64 Apache helicopter is the most advanced multi-role heavy attack helicopter in the world. New Delhi: The Defence Acquisition Council has cleared the purchase of six Boeing Co Apache attack helicopters for the Army in a deal worth Rs 4,168 crore, a defence ministry official said on Thursday

  • Haleeb announces prize winner

    August 18, 2017 12:00 AM 3

    KARACHI: Aleem Ahmad, a resident of Gujranwala, won the grand bumper prize of Haleeb Khazana Rozana campaign and received the all new BMW X1 by Haleeb Foods CEO Syed Mazher Iqbal at a ceremony held at Haleeb head office in Lahore, a statement said on Thursday. The Haleeb CEO congratulated the winner and said: “Khazana Rozana campaign is an effort from our end to acknowledge