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  • Currency: Rupee steady against dollar

    December 16, 2013 8:04 PM 28

    The rupee ended steady at 107.13/107.18 agains­t the dollar in the interb­ank on Monday. KARACHI: The rupee ended steady at 107.13/107.18 against the dollar in the interbank on Monday, compared to Friday’s close of 107.15/107.20. Heavy debt repayments to the IMF have dented the central bank’s reserves, which have declined significantly, putting pressure

  • US stocks rally ahead of Fed meeting

    December 16, 2013 6:07 PM 22

    NEW YORK: US stocks Monday opened solidly higher, rallying after last week's losses and ahead of this week's US Federal Reserve policy meeting. Five minutes into trade, the Dow Jones Industrial Average shot up 138.33 points (0.88 percent) to 15,893.69. The broad-based S&P 500 advanced 12.27 (0.69 percent) to 1,787.59, while the tech-rich Nasdaq Composite

  • LPG price slashed by Rs 10 per kg

    December 16, 2013 3:38 PM 26

    ISLAMABAD: The government on Monday reduced the prices of Liquefied Petroleum Gas (LPG) by Rs 10 per kilogram. The notification to this effect was issued by the Ministry of Petroleum and Natural Resources. The reduction of Rs 120 made on domestic cylinder while commercial cylinder Rs 480, the notification added. "Raids will be conducted and strict action

  • Smaller provinces cry for agri credit

    December 16, 2013 3:20 PM 18

    Overall agricultural credit disbursement by banks has increased substantially over four years, but the share of smaller provinces has been meagre. Farmers in Sindh, Khyber Pakhtunkhwa and Balochistan continue to rely heavily on costly borrowings from informal sources. In FY13, when banks disbursed Rs336 billion agricultural loans, more than 86 per cent of it went to Punjab

  • GSP Plus big development towards realizing ’trade not aid’: Khurram

    December 16, 2013 2:17 PM 26

    ISLAMABAD: Federal Minister for Commerce and Textile Industry Engineer Khurram Dastgir Khan said on Monday the GSP Plus status given by the European Union would raise Pakistan's exports by $1 billion annually and it was a big development towards realizing the slogan of `trade not aid. The Generalized System of Preference Plus (GSP+) provided concessions

  • Ishaq Dar

    December 16, 2013 1:56 PM 22

    ISLAMABAD: The Finance Minister Senator Mohammad Ishaq Dar Monday said that the government is keen to develop the secondary debt market with particular focus on the retail segment. "Trading of government securities at the stock exchanges of Pakistan will encourage participation of small and private investors. The increase in depth of secondary debt market

  • PM declines to approve gas tariff hike

    December 16, 2013 1:56 PM 22

    ISLAMABAD: Prime Minister Nawaz Sharif and his cabinet colleagues are divided over a proposed substantial increase in gas tariff from next month under an agreement with the International Monetary Fund (IMF). Petroleum Minister Shahid Khaqan Abbasi announced last week that the prices for all consumers, except domestic users, would be increased

  • Finance Minister calls on Prince Karim Aga Khan

    December 16, 2013 1:17 PM 20

    ISLAMABAD: Finance Mister Senator Mohammad Ishaq Dar called on Prince Karim Aga Khan Monday and briefed him about the state of economy and the measures taken by the government to redress macro-economic imbalances inherited by the present PML-N Government. Welcoming Prince Karim Aga Khan to Pakistan, Senator Mohammad Ishaq Dar said that the government

  • Rice output forecast and export outlook

    December 16, 2013 10:08 AM 40

    The prospects of rice coming out of the bad patch of poor productivity and uncompetitive exports remain dim for 2013 and are not bright either for 2014. Historically, Pakistan’s basmati rice has been the most sought-after commodity in the world, more so in Arab countries. But in recent years, it has begun to lose its lustre as well as its competitive

  • Degree dilemma: CDA moving in circles over degree verification issue

    December 16, 2013 4:50 AM 20

    Almost 14 months have passed since CDA gave one-month deadli­ne for verifi­cation. While repeating the same thing over and over may not improve it in terms of its quality, content and supposed effect, it will certainly expose the inefficiency of the speaker. The same is happening at Capital Development Authority (CDA) over the degree verification exercise