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04:31 Growth improves, but targets missed

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  • CNG closure: association to hold protests from Monday  

    December 15, 2013 6:16 PM 4

    ISLAMABAD: All Pakistan Compressed Natural Gas (CNG) Association has announced to stage demonstrations to protest against the gas supply closure from Monday. Chairman APCNGA, Ghiyas Paracha said the transporters are also poised to hold their protest on Monday to give vent to their grievances over closure of CNG supply. Paracha said his association will stage

  • Will Fed end 2013 with bang or whimper?

    December 15, 2013 5:55 PM 9

    Will the U.S. central bank now slow the pace of its stimulative bond buying as the economy's outlook begins to brighten or will it wait, setting the stage for stock investors' undreamed of gains to keep going? Fed policymakers gather for the last time in 2013 for a two-day meeting that concludes on Wednesday. Many investors are still expecting the Fed to delay

  • Railways revenue generation show 36pc increase in five months

    December 15, 2013 4:58 PM 8

    ISLAMABAD: The initiatives of incumbent authorities in Pakistan Railways have started bearing fruits as Rs. 9.182 billion of revenue was generated in almost five months of current fiscal year. This shows almost 36 % increase in revenue as compared to corresponding period of previous fiscal year when Rs. 6.76 billion of revenue was generated. A revenue

  • Foreign investment growing in Pakistan, claims Pervaiz Rasheed  

    December 15, 2013 3:13 PM 7

    LAHORE: Information Minister Pervaiz Rasheed has claimed that Pakistan’s overall situation was improving, Geo News reported. Addressing a press conference here Sunday, Pervaiz Rasheed said the government took several measures to overcome the challenges in six months after coming into power. He said the government cleared a whopping Rs500 billion circular

  • Tax avoidance is cheating Pakistan

    December 15, 2013 7:20 AM 9

    Until Pakist­an can raise enough money throug­h tax, it will contin­ue to be excess­ively depend­ent on loans and aid. About one in three Pakistanis live on Rs50 a day or less. They need help and jobs. Around 12 million Pakistani children are out of primary school. They need quality education. Without raising more money through taxation, Pakistan will not be able to meet the needs

  • Ending depreciation: Ishaq Dar vows to arrest rupee’s free fall

    December 15, 2013 5:39 AM 7

    Financ­e minist­er urges busine­ss commun­ity to exploi­t GSP Plus status to the fulles­t. “[Entrepreneurs] should cash their dollars immediately,” he said while speaking at an event organised by the All Pakistan Textile Mills Association (APTMA) at the Governor House in Lahore. “I guarantee that the rupee will start gaining value from now onwards

  • Iran warns of cash fine over pipeline delay

    December 15, 2013 2:02 AM 13

    TEHRAN - Iran has said that it has cancelled a planned $500 million loan to Pakistan to build part of a pipeline to bring natural gas from Iran. Deputy Oil Minister Ali Majedi said Iran has no obligation to finance the Pakistani side of the project and also didn’t have the money. Majedi’s comments were posted on the oil ministry’s website, shana

  • Pilot’s love for sandwiches delays flight

    December 15, 2013 2:02 AM 62

    LAHORE - A foodie pilot got a New York-bound flight delayed by two and a half hours at Allama Iqbal International Airport (AIIAP) for the sole reason that he wanted to take sandwiches aboard the plane over and above the approved menu, said sources in the airlines’ catering department on Saturday. As per details, PIA flight Pk-711, scheduled for New York via Manchester

  • Weekly review: KSE-100 storms past new barriers

    December 14, 2013 8:48 PM 16

    Fertil­iser and textil­e sector­s help index reach greate­r height­s. The country’s stock market soared to new heights following a stream of positive news flows leading to the benchmark KSE-100 index climbing 386 points (1.6%) to storm past the 25,000-point barrier during the week ended December 13. It is the first time, in the KSE-100’s 22-year history

  • French carbon crook on run after bracelet fails

    December 14, 2013 7:29 PM 16

    A Frenchman convicted of carbon trading fraud that cost the state some 1.6 billion euros ($2.2 billion) has gone on the run, a judicial source said Saturday (Shenzhen: 002291.SZ - news) , admitting that his electronic tracking bracelet had stopped working. Police have issued an arrest warrant for Michel Keslassy, 50, who was given a three-and-a-half