Vladimir Putin “Anyone who does not regret the passing of the Soviet Union has no heart...”
Barack Obama “Focusing your life solely on making a buck shows a poverty of ambition...”
KARACHI: Sindh High Court Justice Faisab Arab granted bail on Wednesday to all four co-accused in the Khanani and Kalia money laundering case. Javed Khanani, Hanif Kalia, Munaaf Kalaia and Atif Polani had filed a bail application with the district court which was rejected. However, an appeal filed on behalf of the accused by [...]
ISLAMABAD: Electricity rates are likely to go up by another 15 per cent or Rs1.20 per unit (kwh) on March 1, mainly because of uneconomic use of fuel and resultant rise in generation cost. “This will be the single highest increase in power tariff in more than 13-year history of Nepra (National Electric Power Regulatory [...]
KARACHI: Pakistan’s net foreign investment suffered a sharp decline during the current fiscal year, and massive fall was noticed even in most attractive sectors, like telecommunications and financial business. The State Bank of Pakistan reported on Monday that net foreign investment fell by 34.4 per cent to $1.466 billion during July-January against $2.234 billion in [...]
ISLAMABAD: The federal government on Friday directed provinces to ensure that sugar mills maintain 15 to 20 per cent stock and asked the interior ministry to check sugar smuggling at Khokhrapar, Torkham and Chaman borders to avert its shortage in future. The Sugar Advisory Board (SAB), in a meeting chaired by Federal Minister for Industries [...]
ISLAMABAD: The government would bring new services into the tax net in next year’s budget and generate meaningful revenue contribution from property, agricultural sector and stock markets, Finance Minister Shaukat Tarin said on Friday. During a meeting with a task force on private sector development, the minister said the government would convert capital value tax [...]
ISLAMABAD: The Public Accounts Committee of the National Assembly was surprised and shocked on Friday when it was told that officials of the Federal Board of Revenue had exonerated one of their colleagues found involved in an inadmissible tax refund of Rs140 million to a private pay-phone company, keeping in the dark both the Prime [...]
Measuring inflation is a tricky job. Controlling it is trickier. No government can come up with inflation data that is believable for all. And inflation cannot be checked effectively if the mechanism used for measuring it suffers from structural flaws. But efforts must be made to record changes in the actual cost of living of [...]
NEW YORK: Google Inc is tapping its huge network of Gmail users and web surfers to create a Buzz that it hopes will help it catch up with online social networking leaders Facebook and Twitter. The world’s No. 1 search engine on Tuesday launched Google Buzz, which allows users to quickly share messages, web links [...]
ISLAMABAD: The GDF Suez of France won on Tuesday a contract for the import of 3.75 million tons per annum of liquefied natural gas (LNG) for up to 20 years, but efforts continued to allow its competitor Shell to import an additional 2.5 million tons for the same period. The price of LNG to be [...]
BRUSSELS: Angela Merkel tried to calm fevered speculation in financial markets yesterday that Germany was preparing to lead a bail-out of Greece amid a split in the EU on how to handle its most ailing member. The German Chancellor denied reports that her Finance Minister was conducting secret talks with Jean-Claude Trichet, head of the [...]
Rumor has it that Timothy Geithner is on his way out as Treasury Secretary, due to his involvement in the AIG scandal that is now unraveling in hearings before the House Oversight and Reform Committee. Bob Chapman writes in The International Forecaster: Each day brings more revelations of efforts of the NY Fed and Goldman [...]
ISLAMABAD: The National Assembly adopted a bill on Monday which drastically amends the Banking Companies Ordinance, 1962, and empowers the State Bank to change management of banks, impose losses on shareholders by writing down their capital, intervene and take control of banks and appoint administrators to manage banks or restructure banks when symptoms of crisis [...]
کراچی …احبات پاکستان اور امریکا کی جانب سے اعلان کردہ رقم آنے میں تاخیر کے باعث ڈالر ایک پھر بے قابو ہوگیا اور اوپن مارکیٹ یہ87روپے تک پہنچ گیا۔ احباب پاکستان اور امریکا کی اعلان کردہ رقم آنے میں تاخیرروپیہ کو مزید کمزور کررہی ہے۔اوپن مارکیٹ میں ٹریڈنگ کے دوران روپے کے مقابلے ڈالر کو [...]
JAKARTA: Indonesia has sold more than 850 million dollars worth of Islamic bonds to domestic retail investors, exceeding its target by more than two and half times, officials said Monday. The bonds, or sukuk, will mature in three years and pay 8.7 per cent, finance ministry director for debt Rahmat Waluyanto told reporters. “The government [...]
ISLAMABAD: In a rather embarrassing development, the sovereign state of Pakistan has run afoul of the International Monetary Fund (IMF) by galloping over the agreed limit of issuing sovereign guarantees to investors financing mega projects. Already, sovereign guarantees worth Rs 274.3 billion have been issued, amounting to 2.09% of the GDP, which stands at Rs [...]
PARIS: What began with worries about the solvency of Greece in the face of high deficits, fake budget figures and low growth has quickly become the most severe test of the 16-nation euro zone in its 11-year history. Anxiety about the health of the euro, which has spread from Greece to Portugal, Spain and Italy, [...]
NEW YORK: Google is teaming up with the US National Security Agency to battle cyber-attacks from China in a move that is causing disquiet on the internet. The alliance of the world’s largest internet search company and the world’s most powerful electronic surveillance agency has provoked concern among privacy advocates. The non-profit Electronic Privacy Information [...]
SINGAPORE: Pakistan is unlikely to enter another lending programme with the International Monetary Fund, but a final decision will be taken towards the end of the year, Finance Minister Shaukat Tarin said on Thursday. Pakistan’s current IMF programme ends in November, its economy is struggling and it is battling Islamist militants in the northwest. “I [...]
ISLAMABAD: The federal government’s budget deficit stood at Rs223.7 billion against the target of Rs194 billion during the first quarter of current fiscal year highlighting a slippage of about Rs30 billion, mostly on account of lower-than-expected revenue collection. This was about 1.5 per cent of the projected GDP for the year, says the Fiscal Policy [...]
KARACHI: The current account deficit suffered a massive fall of over $12 billion mainly on account of sharp reduction on imports during the calendar year 2009. The latest official figures issued on Monday revealed that the government found much needed support from the enormous fall of current account deficit during the period under review enabling [...]
Misbah-ul-Haq appointed Pak Test team captain
Swiss ‘Return of Illicit Assets Act’: Pakistan can get billions back!
Cricketer Muhammad Asif finally brings his bride Sana Hilal home, Veena Malik Shocked
Veena Malik seeks court’s help for registration of an FIR against Muhammad Asif
In mom’s wedding sari, Sania Mirza says “Nikah Kabul Hai”; it’s Sania Shoaib from now
What’s going on between Pak cricket legend Wasim Akram & Bollywood actress Sushmita Sen?
Potential to generate 50,000mw electricity from Thar coal field for 800 years
