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  • 4,000 orange fruit containers exported

    February 4, 2014 2:15 AM 24

    KARACHI: The former chairman and spokesman of All Pakistan Fruit & Vegetable Exporters, Importers and Merchant Association (PFVA) said on Monday that the export of orange fruit was on full swing to the global markets as 4,000 containers worth USD $88.90 million had been exported, while possibility of export of potato to Russia during current week had also been brightened

  • Linguistic concerns: ‘500 schools not teaching Sindhi’

    February 4, 2014 2:00 AM 55

    Much-needed Sindh Assemb­ly sessio­n fails to addres­s pressi­ng issues. After a lag of nearly two months, the Sindh Assembly session took place on Monday but it failed to go beyond the education minister’s self-praising speech and a bill against wall chalking. Sindh Education Minister Nisar Ahmed Khuhro announced that he has issued show-cause notices

  • PTCL records 97% increase in profits

    February 3, 2014 11:15 PM 24

    LDI busine­ss spurs earnin­gs. KARACHI: Supported by higher revenues from its Long Distance and International (LDI) business, Pakistan Telecommunication Company Limited (PTCL) almost doubled its profits during financial year 2013 in line with market expectations according to analysts. PTCL’s after-tax profit increased to a staggering Rs15.7 billion or Rs3 per share

  • Internal control: SECP issues draft Unit Linked Products Rules

    February 3, 2014 9:13 PM 21

    Primar­y focus of these rules has been on addres­sing the invest­ment govern­ance proces­s of the unit-linked funds. The Securities and Exchange Commission of Pakistan (SECP) has issued draft Unit Linked Products and Funds Rules, 2014, to elicit the public opinion, a statement said. It said the draft is aimed at introducing comprehensive regulations

  • Power tariff: Only ‘low-income’ consumers to enjoy subsidy

    February 3, 2014 8:16 PM 27

    Govt decide­s to pass full impact of price revisi­on on to consum­ers. The government has decided to pass the full impact of electricity tariff determined by the regulator on to consumers in the future and restrict subsidy to ‘low-income residential consumers’ as part of efforts to keep power producers financially viable and curb circular debt. The Economic

  • Dar tells IMF economy on ‘track’

    February 3, 2014 5:27 PM 24

    Finance Minister Ishaq Dar on Monday informed the International Monetary Fund (IMF) officials that the government was following the economic reforms agenda and “nearly all economic indicators were on track”. “The first quarterly results of economic growth in Pakistan indicate that GDP had shown a growth of 5.0 per cent in the first quarter as compared

  • US stocks tumble 1pc after weak manufacturing data

    February 3, 2014 3:59 PM 22

    NEW YORK: US stocks fell sharply in early trade Monday as lackluster reports on Chinese and US manufacturing activity added to concerns about economic growth and emerging-market economies. About 55 minutes into trade, the Dow Jones Industrial Average slumped 156.92 points (1.00 percent) to 15,541.93. The broad-based S&P 500 sank 18.85 (1.06 percent)

  • Master plan, feasibility study for Gadani Power Park being prepared

    February 3, 2014 1:58 PM 22

    ISLAMABAD: Site and topographical surveys for Gadani Power Park have already been completed by the consultant while master plan and feasibility study are being prepared. According to a Ministry of Water and Power source, the coal will not be imported for the said project during the current fiscal year. Approximately 20 million tonnes of coal will be imported

  • European stocks drop on emerging market jitters

    February 3, 2014 12:44 PM 25

    LONDON: European equities fell on Monday, as weak Chinese economic figures stoked fresh concern over the outlook for troubled emerging markets, dealers said. In late morning deals, London's benchmark FTSE 100 index fell 0.18 percent to stand at 6,498.76 points, hit also by poor earnings news from Britain's state-rescued bank Lloyds. Frankfurt's DAX 30 shed 0.43 percent

  • Textile Ministry to train cotton growers for maximizing GSP+ benefits

    February 3, 2014 7:53 AM 22

    ISLAMABAD: Ministry of Textile Industry will train cotton growers for harnessing the full potential of Generalized Scheme of Preference Plus (GSP Plus), granted by European Union to Pakistan for free market access to its textile products in EU markets. The Ministry will start training programmes in electronic media to provide training to the farmers