Web
Analytics
The news is by your side.

Losses

Railways losses case: Saad Rafique appears in SC

ISLAMABAD: Former railways minister Khawaja Saad Rafique was presented before the Supreme Court on Thursday for hearing of a suo motu case pertaining to the losses incurred by Pakistan Railways during his tenure. A bench of the apex court, headed by Chief Justice of Pakistan Mian Saqib Nisar, took up the case. The PML-N leader, who is in NAB custody on 10-day physical remand, informed the bench that as he received the court summon last night he hired the services of Advocate Kamran Murtaza. He added his lawyer is in…

Sheikh Rashid vows to finish off Rs40bn debt faced by railways

RAWALPINDI: Minister for Railways Sheikh Rashid Ahmed on Thursday vowed that he would improve train services, saying that he has challenged himself to finish off the burdening losses  faced by the organisation. The Awami Muslim League (AML) chief, who is now a part of Prime Minister Imran Khan's cabinet, said they have inherited a debt-ridden organisation by the previous 'dishonest and corrupt' leaders, and now it is his responsibility to improve them, "I have inherited debts of Rs35-40 billion and I have been informed…

Facebook’s grim forecast: privacy push will weaken profits for years

Facebook Inc’s shares lost as much as a quarter of their value on Wednesday after executives said that profit margins would plummet for several years due to the costs of improving privacy safeguards and slowing usage in the biggest advertising markets. The second-quarter results were the first sign that a new European privacy law and a succession of privacy scandals involving Cambridge Analytica and other app developers have bit into Facebook’s business. The company further warned that the toll would not be offset by…

Railways losses: Supreme Court seeks audit report in six weeks

LAHORE: The Supreme Court on Saturday ordered the authorities concerned to submit a report on audited accounts of the loss-making Pakistan Railways within six weeks’ time. A two-judge bench, headed by Chief Justice of Pakistan Mian Saqib Nisar, gave this order during hearing of a case pertaining to the colossal losses of Rs60 billion incurred by the railways. Railways Minister Khawaja Saad Rafique, who appeared before the bench in response to court summons, told the judges that not only the people but the government…

Rs60bn losses: Supreme Court orders audit of Pakistan Railways

LAHORE: The Supreme Court on Saturday ordered a complete audit of Pakistan Railways to fix the liability for multi-billion rupees financial losses incurred by the national entity.  Headed by Chief Justice of Pakistan Mian Saqib Nisar, a two-judge bench of the apex court was hearing at the Lahore registry a suo motu case pertaining to the colossal losses of Rs60billion incurred by Pakistan Railways. Railways Minister Khawaja Saad Rafique appeared before the court in response to its summon. During the course of…

Oil claws back some losses; US crude set for steepest fall in a year

AMSTERDAM: Oil prices rose 1 percent on Thursday, clawing back some of the losses made a day earlier, but US crude is on track for the steepest monthly losses in more than a year on demand concerns after floods knocked out a quarter of US refining capacity. Prices also rallied in the oil products markets, with US gasoline futures RBc1 hitting a two-year high above $2 a gallon, buoyed by fears of a fuel shortage just days ahead of the Labor Day weekend that typically brings a surge in driving. Hurricane Harvey, which…