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  • Bank loan: Court clears way for sale of Ittefaq Group units

    February 18, 2014 4:39 AM 3

    These units had been surren­dered to adjust loans the group had not paid back on time. A division bench of the Lahore High Court on Monday dismissed an intra court appeal challenging an order allowing the auction of four units of Ittefaq Group to pay back Rs3 billion loans. The division bench comprising Justice Ayesha A Malik and Justice Shehzada Mazhar

  • New gas connections made costly for Punjab, KP people

    February 18, 2014 2:45 AM 14

    ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has allowed Sui Northern Gas Pipelines Limited (SNGPL) to charge eight times higher connection fee – Rs25,000 instead of existing Rs3,000 – for provision of new connections to domestic consumers in Punjab, Khyber Pakhtunkhwa and Islamabad. The decision has been taken on a petition filed by SNGPL

  • Pindi women have transport service

    February 18, 2014 1:56 AM 35

    RAWALPINDI - Provincial Minister for Labour and Manpower, Raja Ashfaq Sarwar, has said that the government is striving hard to provide best travel facilities to the citizens including women. He said this while inaugurating 12-wagons "Tabeer" transport service for women at a ceremony here on Monday. PML-N MNAs Malik Abrar Ahmed and Tahira Aurangzeb, MPAs Malik

  • Alternative sources: Hydel generation increases, reveals NTDC data

    February 17, 2014 9:01 PM 10

    Power shortf­all also eased to 1,900MW as total genera­tion was record­ed as 9,300MW agains­t a demand of 11,200MW. According to data released by the National Transmission and Dispatch Company Limited (NTDC), hydel generation stood at 3,315MW, thermal at 1,265MW and Independent Power Producers (IPPs) at 4,720MW. Power shortfall also eased to 1,900MW as total

  • ‘Suspension of gas supply will dampen progress’

    February 17, 2014 8:56 PM 4

    FCCI chief calls for restor­ing suppli­es to textil­e indust­ry. FAISALABAD: Sui Northern Gas Pipelines Limited’s (SNGPL) decision to suspend gas supply to textile industries in Faisalabad is an anti-industry and anti-worker decision, which will damage the benefits of GSP Plus Status to Pakistan, said Faisalabad Chamber of Commerce & Industry (FCCI)

  • European stocks rise with eyes on Italy

    February 17, 2014 5:45 PM 13

    European stocks markets advanced on Monday, building on a recent recovery, while investors were increasingly warming to eurozone trouble spot Italy. In foreign exchange trading, the British pound struck the highest point against the dollar for more than four years. London's benchmark FTSE 100 stocks index gained 1.16 percent to 6,741.18 points in afternoon

  • Pakistani stocks dip over peace talks uncertainty

    February 17, 2014 2:48 PM 8

    KARACHI: Pakistan's main stock exchange closed lower on Monday, with the benchmark 100-share index of the Karachi Stock Exchange falling 1.48 per cent, or 390.24 points, to 26,003.89. The market fell another 390 points over uncertainty over ongoing talks between the government and Pakistani Taliban militants. Continued profit-taking was seen in Engro

  • Bilateral trade: Indian exhibition draws to a close

    February 17, 2014 1:33 PM 59

    Food, jewell­ery and clothe­s were major attrac­tions. “The governments of India and Pakistan should develop a mechanism allowing more direct trade between the two countries. Pakistan should grant India the most favoured nation status as soon as possible,” businessman Amin Mazhar Butt said. He was speaking at the concluding day of the Indian show at the International

  • Asian markets firm in the wake of Wall Street rally

    February 17, 2014 9:04 AM 24

    Asian stock markets rose on Monday following robust gains on Wall Street and the yen strengthened, despite disappointing Japanese growth figures dampening hopes for a robust recovery. HONG KONG : Asian stock markets rose on Monday following robust gains on Wall Street and the yen strengthened, despite disappointing Japanese growth figures dampening hopes

  • China ships in disputed waters: Japan coastguard

    February 17, 2014 6:27 AM 24

    TOKYO: Three Chinese ships sailed through disputed waters off Tokyo-controlled islands in the East China Sea on Monday, the latest such incident in the bitter territorial row between the Asian giants. The Chinese coastguard vessels entered the 12-nautical-mile territorial waters off one of the Senkakus, which China claims and calls the Diaoyus, at around