Category: Business

ISLAMABAD: With a slight increase in international crude price and currency devaluation, the government is considering a major increase in the prices of all petroleum products for the month of April. Based on import parity price of Pakistan State Oil (PSO) for purchase in March, the Oil and Gas Regulatory Authority (Ogra) has worked out […]

Facebook on Friday said it is tightening live video streaming rules in response to the service being used to broadcast deadly attacks on mosques in New Zealand. The Christchurch attacks — carried out by a self-avowed white supremacist who opened fire on worshippers at two mosques — claimed 50 lives. Many people have “rightly questioned […]

Apple confirmed on Friday that it will not deliver on its promise of helping usher in a wireless future with an AirPower mat for charging its devices. The project announced in late 2017 proved to be an engineering challenge, Apple senior vice president of hardware engineering Dan Riccio told AFP. “After much effort, we’ve concluded AirPower […]

KARACHI: Investors at the stock market remained indecisive on Friday marked by choppy trade as suspense was thick in the air over the State Bank of Pakistan Monetary Policy that was to come after trading hours. The benchmark KSE-100 index closed slightly positive with gains of 96.39 points (0.25 per cent) at 38,649.34. The index […]

ISLAMABAD: The World Bank on Friday suspended the Integrated Water Resources Management and Development project for Balochistan over lack of progress in management and funds disbursement. In a statement, the WB offered to work with the Baloch­istan government over the next 30 days to restructure the scope and governance arrangements to more realistically deliver sustainable […]

SHENZHEN: Chinese telecom giant Huawei vowed on Friday to “shake off outside distractions” as it announced that its telecom infrastructure business contracted slightly in 2018 amid a global US campaign to blacklist the company over espionage fears. Huawei said net profit rose to 59.3 billion yuan last year, up 25pc. But its carrier business, which […]

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) conducted a session on Friday to brief representatives of NGOs (non-governmental organisations) about the country’s international obligations and the Financial Action Task Force’s (FATF) recommendations and to create awareness about the government’s measures for anti-money laundering/counterterrorism financing (AML/CFT). The session, conducted in Lahore in collaboration with […]

ISLAMABAD: Pakistan received a paltry $2.94 billion of budgeted foreign assistance in first eight months (July-February) of the current fiscal year, showing a massive decline of over 61pc over last year. This was despite the fact that Pakistan needed significantly higher inflows to finance a large current account deficit. Resultantly, the government had to mostly […]

NEW DELHI: India’s trade ministry has proposed that the government delays by a month the imposition of retaliatory tariffs on some US goods that were due to go into effect from April 1, a trade ministry spokeswoman told Reuters on Friday. Trade friction between India and the United States has escalated after US President Donald […]

ISLAMABAD: The government on Wednesday decided in principle to import about 200 million cubic feet per day (mmcfd) of additional LNG from Qatar and will constitute Price Negotiation Committee (PNC) for talks on gas sales and purchase agreement (GSPA). The decision was taken at a meeting of the Economic Coordination Committee (ECC) of Cabinet presided […]