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04:31 Growth improves, but targets missed

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  • Canada's trade deficit almost triples to $3.6B in June

    August 4, 2017 3:18 PM 3

    The gap between what Canada sells to the world and what it buys stretched to $3.6 billion in June, as exports fell back from recent highs while imports increased. Following three consecutive monthly record highs, total exports fell 4.3 per cent to $46.5 billion in June, Statistics Canada reported Friday. Imports, meanwhile, edged up 0.3 per cent to $50.1 billion

  • Hashoo Group promotes GM

    August 4, 2017 12:00 AM 4

    KARACHI: Hashoo Group management announced that Rehan Faiz Pirzada has been promoted as the cluster general manager for Karachi Marriott and Zaver Pearl Continental Hotel Gwadar. Pirzada is a seasoned hotelier, having more than 22 years' of experience in the hospitality industry. He is associated with the Hashoo Group of Hotels since 1996 and has served

  • Oil sales up 10pc in July

    August 4, 2017 12:00 AM 5

    KARACHI: Sales of petroleum products grew 10 percent year-on-year (YoY) to 2.31 million tonnes in July as an impressive demand of motor spirit and diesel mainly led the growth, an analyst said on Thursday. Analyst Waqas Ahmed at Taurus Securities said sales of petroleum products stood at 2.097 million tonnes in July last year. In June, oil sales were recorded

  • Industrial Carnival from August 11

    August 3, 2017 12:00 AM 4

    HYDERABAD: All arrangements have been finalised to organise fourth Industrial Carnival 2017 from August 11 to September 9, said Seth Goharullah, president of Hyderabad Chamber of Commerce and Industry (HCCI). Goharullah said almost all stalls have been booked by the national and international companies to display of their products for sale. A large numbers

  • Oman takes $3.55bln China loan to cover budget deficit

    August 3, 2017 12:00 AM

    Muscat: Oman on Wednesday announced it has taken out a $3.55-billion loan from Chinese banks to cover its budget deficit for the current fiscal year. The loans aim to cover the deficit in the 2017 budget, deputy finance minister Nasser al-Jishmi was quoted by the official news agency ONA as saying. Oman, a non-Organization of Petroleum Exporting Countries

  • Finance division calculates external public debt at $58.4bln

    August 3, 2017 12:00 AM 5

    ISLAMABAD: Finance division on Wednesday measured the external public debt at $58.4 billion as of end-March 2017, rejecting a misreported figure of $79.2 billion in media as a ‘mere projection’, which it said includes private sector external debt and liabilities. Media reports said the present government added $35 billion to external debt of the country

  • Successful launch for two Israeli-made observation satellites

    August 2, 2017 11:16 AM 1

    JERUSALEM (Reuters) - Israel Aerospace Industries (IAI) [ISRAI.UL] said on Wednesday that two of its observation satellites were successfully launched into space. The OPTSAT3000, to be used by Italy's Ministry of Defense, and Venus, which will help the Israeli and French space agencies research the environment, were sent into orbit late on Tuesday from French

  • WATCH: Israel's first environmental satellite soars

    August 2, 2017 3:50 AM 2

    Built by Israel Aerospace Industries, The Venus is the world’s smallest satellite of its kind. With all components made in Israel. On Wednesday at 04:58 Israel time The Venus, the world's smallest environmental satellite, soared from the launching pad in French Guiana. It was accompanied by an Italian satellite and launched from the Guiana Space Center

  • DIB Pakistan issues Rs4 billion sukuk

    August 2, 2017 12:00 AM 5

    KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) on Tuesday announced the successful issuance of its rated, unsecured, subordinated and privately placed tier-II mudaraba sukuk. The Rs4 billion sukuk issue was oversubscribed by 1.7 times its size, reflecting strong demand and confidence by the investors in one of the leading global brands in Islamic

  • CPI inflation clocks in at 2.91 percent year-on-year in July

    August 2, 2017 12:00 AM 6

    ISLAMABAD: Consumer price inflation clocked in at 2.91 percent year-on-year in July mainly due to increase in prices of non-perishable products, officials said on Tuesday. Consumer price index (CPI) inflation stood at 0.34 percent in July as compared to June, officials at Pakistan Bureau of Statistics (PBS) said, while presenting data of monthly inflation