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October 21, 2018 12:00 AM Govt plans for building underground gas storages

ISLAMABAD: In a major initiative, the Petroleum Division (PD) is going to pitch very important summary in the forthcoming ECC meeting seeking the permission for embarking upon the updated feasibility study for developing the strategic underground gas storages across the country to ensure energy security. Pakistan currently possesses no capacity to store

October 20, 2018 12:00 AM OPEC struggles to boost oil output

LONDON: OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola. The Organization of the Petroleum Exporting Countries and allies agreed in June to boost supply as U.S. President Donald Trump 1

October 17, 2018 12:00 AM UN warns of ‘perfect storm’ of hunger

ROME: A potent combination of hunger, climate change and man-made conflicts are creating a "perfect storm", the head of the UN’s food arm warned on Tuesday in a call to action on World Food Day. "You’ve got a nightmare, the perfect storm heading your way," David Beasley, World Food Programme (WFP) chief, said in a speech in Rome, where the United Nations’

October 13, 2018 12:00 AM POL’s profit up 35 percent in 1Q

KARACHI: Profit of Pakistan Oilfields Limited (POL) rose 35 percent to Rs3.571 billion for the first quarter ended September 30, translating into earnings per share (EPS) of Rs12.57, a bourse filing said on Friday. POL earned Rs2.642 billion with EPS of Rs9.28 during the same quarter a year earlier, a statement to the Pakistan Stock Exchange said. The company 6

October 11, 2018 1:39 PM Opposition parties hold 'mock' NA session outside Parliament House

The Pakistan Muslim League-Nawaz (PML-N), accompanied by parliamentarians from other opposition parties, on Thursday held a "mock National Assembly session" outside the Parliament House to protest the arrest of Leader of Opposition in National Assembly Shahbaz Sharif, DawnNewsTV reported. Members of opposition parties gathered in great numbers outside 1 1

October 10, 2018 12:00 AM Cement sales post 18.9pc growth in Sept

LAHORE: Domestic cement consumption bounced back in September 2018 after two months of lacklustre growth, registering a double digit increase compared with domestic consumption in the corresponding period of last year. Sales grew 18.90 percent to 3.806 million tons in September 2018, as compared to 3.201 million tons in September 2017. Dispatches in the north

October 8, 2018 12:00 AM Two commit suicide in Faisalabad

FAISALABAD: Two persons committed suicide in separate incidents during the past 24 hours. Police said Sunday that Akhtar, 60, of Chak 37/GB swallowed poisonous pills after dejecting over a domestic dispute. He was rushed to the hospital where he expired. In another incident, Mujahid, 30, of Mohallah Ghafoorabad, Chiniot swallowed poisonous pills when his parents

October 7, 2018 12:00 AM Opposition requisitions NA session after Shahbaz’s arrest

ISLAMABAD: After the arrest of Opposition Leader in the National Assembly Shahbaz Sharif, the opposition has immediately requisitioned a session of the house. Former speaker National Assembly Sardar Ayaz Sadiq will spearhead the opposition in the National Assembly in the absence of Shahbaz Sharif. It is expected that the National Assembly’s session would

September 28, 2018 12:00 AM Urea off-take down 8 percent, DAP sale up 11 percent in Jan-Aug

KARACHI: Urea off-take fell eight percent to 3.656 million tons in the first eight months of the current calendar year, while sale of diammonium phosphate (DAP) rose 11 percent to 1.063 million tons during the same period, a brokerage reported on Thursday. Overall, fertiliser sales declined six percent to 5.67 million tons in the January-August period 1

September 21, 2018 12:00 AM Italy judge jails two in Nigeria oil graft case

MILAN: A Milan court sentenced two defendants in a Nigeria corruption case to jail on Thursday in what is a first ruling on one of the oil industry’s biggest graft scandals. Nigeria’s Emeka Obi and Italian Gianluca Di Nardo were both found guilty of international corruption and each given four-year jail sentences, two sources with knowledge of the ruling 7