Iraq violence claims 52 lives
- 28-Feb-2014
Baghdad: At least 52 people were killed on Thursday as a motorcycle rigged with explosives detonated in Baghdad's Sadr City and militants targeted mostly Shia neighbourhoods around the country. The motorcycle was parked in a second-hand bike market in the Shia Muslim neighbourhood that was filled with people, mostly young men, when it exploded late […]
Hollywood film production in 'bad spiral' as competition bites
- 28-Feb-2014
Los Angeles: Three days before the Oscars, the Los Angeles film czar and a think tank delivered some damning news to Tinseltown: Hollywood's status as the home of American film and television production is threatened because places like New York are offering better financial incentives to studios. The study of employment and production data released […]
Rs190bn farm credit disbursed
- 28-Feb-2014
Karachi: Against the agriculture credit target of Rs380 billion for the fiscal year 2013-14, banks disbursed Rs190bn during July-January 2014 which is 50 per cent of the target, said the State Bank on Thursday. The disbursement is 12pc higher than Rs169.4bn disbursed during the corresponding period last year. The outstanding portfolio of agriculture loans increased […]
HSBC in talks to sell Pakistan bank to Meezan
- 28-Feb-2014
London: HSBC said Thursday it is in talks to sell its business in Pakistan to Meezan Bank Limited, another possible sale by Europe’s biggest bank from countries where it is unprofitable or lacks scale. HSBC’s Pakistan business has 10 branches and it has been trying to sell it for the last two years, but a […]
China compliance claim in WTO steel row
- 28-Feb-2014
Geneva: A panel of trade experts requested by the US was created on Wednesday to test a claim by China that it has complied with World Trade Organisation’s (WTO) rules regarding duties on certain US steel products. Washington has questioned China’s claim that it has brought into compliance with WTO rules its duties on US […]
Pakistani stocks end lower; rupee steady
- 28-Feb-2014
Karachi: Pakistan's main stocks exchange closed lower on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange falling 0.08 per cent, or 21.57 points to 25,478.93. This was the index's lowest point in the last 2 months, while volumes declined to the highest low in four months. Amid lack of triggers, the local […]
Mobile phone operators to test 3G, 4G services
- 27-Feb-2014
Islamabad: Mobile phone operators, under the regulator’s decision of granting them free trial permission on non-commercial basis for 3G and 4G services, will test and finetune services before the spectrum auction takes place. The Pakistan Telecommunication Authority (PTA) had announced that all mobile operators will be granted a free trial licence for 3G and 4G so […]
Rs2b business expected from Sindh exhibition
- 27-Feb-2014
Karachi: Sindh Minister for Agriculture Sardar Ali Nawaz Khan Mahar and Minister for Livestock and Fisheries Jam Khan Shoro have said that upcoming livestock, dairy, fisheries, poultry and agriculture exhibition (LDFA-2014) is expected to bring a business of around Rs2 billion. They stated this at a press conference on Wednesday ahead of the exhibition that would […]
Cotton trade slow
- 27-Feb-2014
Karachi: Trading on the cotton market remained slow amid reports that spinners have taken up the Indian cotton yarn imports issue at the highest level in Islamabad. The slow off-take of cotton yarn in the domestic market is resulting in cash flow problem in the textile industry and is keeping the cotton market depressed. Floor […]
Iran urges Pakistan to honor gas pipeline commitment
- 27-Feb-2014
Tehran: Iran's oil ministry said Wednesday that Pakistan is contractually obliged to complete a major gas pipeline project which would allow Tehran to export gas to its southeastern neighbor. The warning came a day after Pakistan's oil minister, Shahid Khaqan Abbasi, said work on the pipeline was not possible because of sanctions imposed by the […]