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  • Offshore handling: Pakistan’s only single point mooring completes first year

    December 27, 2013 7:06 AM 39

    Byco expect­ed to start commer­cial operat­ions at the facili­ty next month. In a major positive development, Pakistan has successfully joined the club of countries with single point mooring (SPM) facilities in the deep sea to transport crude oil through a pipeline to the refineries set up along the coast. Byco has completed the first year of successful

  • ICA decision: Govt misled people on Kishanganga, says PTI

    December 27, 2013 5:10 AM 30

    Claime­d as a victor­y, the verdic­t guaran­tees ‘only a minimu­m flow of water for Pakist­an’. Pakistan Tehreek-e-Insaf (PTI) on Thursday criticised the government for misleading people about the International Court of Arbitration (ICA) decision on plea against Kishanganga dam being built by India on River Neelum in Kashmir seen as a threat to water

  • Breakfast blues: For Pindiites, firewood and microwaves become norm

    December 27, 2013 4:20 AM 28

    Severe gas outage­s hit Rawalp­indi, some areas withou­t supply for over 12 hours. Severe gas outages in the garrison city, particularly in the early hours of the day, are creating major problems for residents and forced many to go to work sans breakfast. The worst-affected areas include Dhoke Babu Irfan, Dhoke Kala Khan, Iqbal Town, Shah Faisal Colony

  • Market Watch: Stocks steady on thin volumes as investors wait until year-end

    December 27, 2013 3:24 AM 20

    Benchm­ark KSE-100 index edges up 3.34 points­ KARACHI: Despite an initial spike, the stock market ended steady on Thursday with volumes staying low close to the end of the year. The Karachi Stock Exchange’s (KSE) benchmark 100-share index rose 0.01% or 3.34 points to end at 25,370.03 points. “It was a rather dull session for equities that traded over 100 million

  • Combating disease: Experts ask growers to protect mangoes

    December 27, 2013 2:01 AM 20

    The diseas­e shorte­ns the leaf size and gives it a pointe­d shape. Two kinds of mango malformation affect plants, including botanical malformation that attacks branches of new plants while flower malformation attacks flowers, said a press release issued by the media liaison unit of the Punjab agriculture department. The disease shortens the leaf size and gives

  • LSE decides to delist cement firm

    December 27, 2013 2:01 AM 15

    LAHORE - Lahore Stock Exchange has delisted the Mustehkam Cement Limited from Ready Board Quotation of the Exchange due to merger of the Mustehkam Cement Ltd. with and into the Bestway Cement Limited w.e.f. December 26, 2013. The shareholders of Mustehkam Cement Limited in their Extra Ordinary General Meeting (EOGM) held on May 06, 2013 has approved

  • New trend: Islamic banking gaining ground globally

    December 26, 2013 11:06 PM 17

    Islami­c bankin­g is gainin­g popula­rity across the globe as the volume of Islami­c bankin­g has touche­d $1.4 trilli­on. University of Agriculture Faisalabad (UAF) Vice Chancellor Dr Iqrar Ahmad Khan has said Islamic banking is gaining popularity across the globe as the volume of Islamic banking has touched $1.4 trillion. He was speaking at an international

  • Balance of Payment loan : Credit Suisse for providing Pakistan with $225 million

    December 26, 2013 8:51 PM 11

    ISLAMABAD: Credit Suisse is participating in a consortium for providing Balance of Payment loan of $225 million for Pakistan. Finance Minister Ishaq Dar met a delegation of Bank Credit Suisse at his office here on Thursday. While talking to the delegation the finance minister said that the government is now focusing its attention on building foreign

  • Foreign currency: With heavy debt repayment, reserves fall to $3.1b

    December 26, 2013 7:52 PM 18

    Figure likely to improv­e after receiv­ing $554m IMF loan tranch­e. Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased to $3.1 billion on December 20 as opposed to $3.4 billion a week earlier, showed data released by the SBP on Thursday. The decline of 7.9% in the foreign exchange reserves came as a result of payments amounting

  • CNG station owners allege discrimination

    December 26, 2013 7:23 PM 13

    Associ­ation says gas pressu­re has gone down substa­ntiall­y. ISLAMABAD: The All Pakistan CNG Association (APCNGA) has alleged that the CNG sector in Punjab has been subjected to discrimination as many owners of CNG stations, their workers and transporters are losing their livelihood. Fertiliser, textile and other sectors were receiving gas to run their