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Pakistan Stock Exchange to start working from Dec 28

Business Desk Karachi: The amalgamation of Karachi, Lahore, and Islamabad stock exchanges is going to become one entity of trade naming the Pakistan Stock Exchange (PSE)and will be starting working December 28, said Karachi Stock Exchange (KSE) Managing Director Nadeem Naqvi. While addressing in a press briefing on Friday at …

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UAE Company to set up oil refinery in Pakistan

ISLAMABAD: Al-Motahaden Petroleum Refineries of the United Arab Emirates is committed to spend $500 million to establish an oil refinery in Pakistan supporting the country to lessen imports and face the requirements of energy. The refinery would be established in Khyber-Pakhtunkhwa (KP) to boost the country’s refining capability and support …

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‘Biggest exporters of illicit capital over the decade’, Pakistan ranks 109th, India 4th

KARACHI: A US-based think-tank issued a report claiming $1.917 billion have been taken away from Pakistan. It said that developing and growing economic lost as much as $7.8 trillion in illicit flows during the period between 2004 and 2013. The report placed Pakistan at 109th spot in the list of …

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PM Nawaz to attend Construction of Tapi gas pipeline to commence next week in Asghabat

ISLAMABAD: Construction of the mega project consisting four countries, Turkmenistan-Afghanistan-Pakistan-India (tapi) gas pipeline, will start by the next week in Turkmenistan, at least 25 years after the commencement of the project. Prime Minister Nawaz Sharif and Afghan, Indian counterparts would attend the starting construction ceremony of the $10 billion project …

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PIA converted into a limited company as president promulgates

ISLAMABAD: Chairman of Pakistan International Airline (PIA) said govt is about to privatize the company as PIA unions representatives were invited for talks, the company’s yearly lose increasing and govt denies another bailout package. The chairman of country’s leading Airline Company Naseer N Jaffery said Pakistan International Airlines Corporation (PIAC) …

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Nawaz Sharif reaches Karachi to fix Rangers’ deployment matter

KARACHI: On Monday, Prime Minister Mohammad Nawaz Sharif reached Karachi to attend meetings on security of Metropolitan city. In his  schedule Air show at Soniami Range  arrange by Pakistan Air Force is  included,  Shoail Aman Air Chief, received PM Nawaz at the venue. PM Nawaz Sharif witnessing PAF Exercise at …

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Asian Bank says Punjab govt drained $409m reform loan

ISLAMABAD: Due to lack of commitment and aggressive agenda, the Punjab government wasted at least $409 millions loan acquired to introduce reforms, accused the Asian Development Bank (ADB). ADB’s Independent Evaluation Department issued a report claiming the amount has gone down to ditch as the Punjab government’s heedlessness in introducing …

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Oil prices perk up in Asia as OPEC meets

Oil prices stepped backward in Asia on Thursday; however, trading was wary on signs the OPEC cartel is split ahead of a meeting on whether to hold or slit its high output levels. The US benchmark West Texas Intermediate shut before reaching $40 a barrel for the first time after …

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Rs3104 billion tax collection is target for this year: Ishaq Dar

Finance Minister Ishaq Dar states Pakistan’s foreign exchange reserves have gone beyond twenty billion dollars as sensible policies have being followed by Government. While addressing Income Tax Officers in Lahore on Wednesday, the finance minister said the government has been given credit of putting economy on right track. Ishaq said …

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Russia offers pipeline placement to export gas to Pakistan

In a hallmark development, Russia has offered to install pipeline for exporting gas to Pakistan. The proposal that stanched, afraid that Moscow would lose the European Union energy market due to a impasse with the US and Europe over the Ukrainian issue, said officials. Couple of days ago, another issue …

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Pak-Uzbek bilateral trade could jump to $300 million, says PM Nawaz

SAMARKAND: The bilateral trade between Pakistan and Uzbekistan could jump to $300 million if both countries join hand to work together said by Prime Minister Nawaz Sharif on his last day of the visit to Uzbekistan. PM Nawaz urged the need for joint collaboration in order to increase the bilateral …

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World Bank approves $500 million to support energy reforms in Pakistan

WASHINGTON DC: The World Bank has approved $500 million to support energy reforms in Pakistan under the Second Development Policy Credit (DPC-II). The amount will be utilised for structural reforms of the electric power sector that will result in improved financial, technical and commercial performance of the electric sector. According …

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Growth Recovery: Pakistan’s GPD to accelerate to 4.5%, World Bank

According to projection of World Bank, the Gross Domestic Product (GDP) of Pakistan will touch the figure of 4.5% in the running fiscal year and will accelerate to 4.8% in FY 2016-17. World Bank in its new report, Pakistan Development Update, has stated that GPD of the county is improving …

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Pakistan could face suspension of GSP Plus Status, says European Union

ISLAMABAD: European Ambassador to Pakistan Jean-Francois Cautain has warned Pakistan that the GSP Plus status of the country could be suspended if it failed in complying with the 27 conventions of the United Nations particular the clauses directly related to the human rights. While taking to the reporters on the sidelines of a …

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