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Javed Mirza
KARACHI: Pakistan’s total debt surged 8.5 percent to Rs16.383 trillion as on December 31, 2014 from Rs15.097 trillion in the corresponding period of 2013, central bank said on Friday.
The significant surge in total debt during the year suggests ...
 
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Shahnawaz Akhter
KARACHI: The Federal Board of Revenue (FBR) has expedited the process of sales tax refund issuance and directed tax offices to hold meetings with business representatives to resolving their liquidity issues, official sources said on ...
 
 

LONDON: OPEC´s oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices.
The ...
 
 

Berlin: The European air safety agency has warned airline operators to show "extreme caution" when flying over Pakistan amid fears of possible terror attacks.
The European Aviation Safety Agency (EASA) "recommends all operators to exercise ...
 
 

WASHINGTON: U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
Gross domestic product expanded at a 2.6 percent annual pace after ...
 
 
our correspondent
KARACHI: Fauji Fertilizer Bin Qasim (FFBL) posted earnings of Rs4.02 billion (earnings/share of Rs4.30) for full year 2014, down 31 percent year on year.
The company, in its results announcement on Friday, declared a final cash dividend of ...
 
 

KARACHI: Prime Minister Muhammad Nawaz Sharif on Friday expressed satisfaction and congratulated the officials and members of KSE over its record performance.
One and a half years back, the KSE was at 19,916 points and now it is at 34,606 ...
 
 

NEW DELHI: India´s economy grew almost 50 percent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers.
In the year ...
 
 
Mansoor Ahmad
LAHORE: Economists on Friday expressed in favour of the permission to the Federal Board of Revenue (FBR) to collect bank account details to bring evaders into the tax net.
They, however, said some businessmen are against this.
“Reforms that ...
 
 
our correspondent
KARACHI: The State Bank of Pakistan (SBP) injected another Rs610 billion into the market through a 7-day open market operation on Friday.
The central bank offered Rs610 billion and the banks accepted the entire offer against a rate of return of ...
 
 
our correspondent
KARACHI: Atif Bajwa, president and chief executive officer of Bank Alfalah Ltd, was on Friday elected president of the Overseas Investors Chamber of Commerce and Industry for the year 2015, according to a press release issued by the OICCI.
The ...
 
 
our correspondent
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Friday demanded the Federal Board of Revenue (FBR) to withdraw sales tax audit notices issued to the taxpayers, a statement said on Friday.
Senior Vice President KCCI Muhammad Ibrahim ...
 
 
News Desk
KARACHI: Mobilink has been awarded social responsibility award by Shaukat Khanum Memorial Cancer Hospital (SKMCH) for supporting the construction of second hospital in Peshawar, a release said on Friday.
Chief Executive Shaukat Khanum Memorial ...
 
 
our correspondent
Karachi: Telenor has gained around 2.6 million 3G subscribers in 73 cities across the country, a release announced on Friday.
Irfan Wahab Khan, Chief Marketing Officer, Telenor Pakistan, expressing delight said, “We have a twofold strategy: one ...
 
 

NEW DELHI: India is likely to produce 26 million tonnes of sugar in the current season ending on Sept. 30, as much as 4 percent higher than an earlier estimate, the head of an industry body said on Friday.
A fifth straight year of surplus ...
 
 

Taipei: Taiwan´s economic growth slowed in the three months to December in 2014 due to lower-than-expected overseas demand for goods and weaker domestic spending, government estimates showed Friday.
The Taiwanese economy grew 3.17 percent in the ...
 
 

TOKYO: Japan´s Honda Motor Co sliced 6.5 percent off its core annual profit forecast as it set aside hundreds of millions of dollars in extra cash to cover an extended car recall to replace potentially faulty air bags made by Takata ...
 
 

JOHANNESBURG: Days of rolling blackouts this week have blighted South African society and business, and they face an increasing number of outages in years to come.
But the alternative, a grid collapse, could be catastrophic.
Bordered by ...
 
 

Faisalabad: Pakistan Mercantile Exchange (PMEX) participated in an Investor Awareness Seminar organized by JS Global Capital Limited in association with Karachi Stock Exchange in Faisalabad. Over 500 participants including members of Faisalabad ...
 
 
our correspondent
Karachi stocks market ended little changed on Friday as lackluster earnings reports from fertiliser and others fed concerns that equities were overpriced after the index run to record highs earlier this week, dealers said.
They added that the ...
 
 
Amrita Sen
The fundamentals remain weak, with seasonal refining maintenance
resulting in stock builds on what is an already high base for stocks




—Chief Oil Analyst
London-based Energy ...
 
 

HONG KONG: Philipp Mattheis knew his gaming app was addictive when he realised he kept checking his phone — hooked by the brightly-coloured reminders telling him to play again or risk falling from the triple-figure level he had reached.
Yet ...
 
 

Pakistani rupee gained two paisas against US dollar on Friday as demand remained on the lower side.
The rupee closed at Rs101.07/dollar in the interbank market against the last closing of Rs101.09/dollar and was trading at Rs101.40/dollar in the ...
 
 
LSE

Lahore Stock Exchange (LSE) 25-Index managed to come out of bears’ control on last working day of the week, gaining 24 points to close at 6,282 points. The trading volume was lower than the volumes recorded in the previous day.
Out of 90 shares ...
 
 
ISE

Bears on Friday prevailed on Islamabad Stock Exchange (ISE) 10-share Index, shaving 48 points amid a heavy trading volume.
A total of 148 companies witnessed trading. Of them, 84 ended up and 64 fished down.
The ISE fell to 3,960.44 points ...
 
 

Engro Fertilizers remained a hot stock of the day with an increase of Rs3.85 in its share price.
EFERT’s 20.45 million shares were traded in the market while its closing price remained at Rs85.27/share.
Share price increased amid hopes of ...
 
 

SHANGHAI/SINGAPORE: Spot iron ore is set to post its biggest monthly fall since May last year as a glut kept the steelmaking commodity at its weakest since 2009.
Iron ore futures in China traded little changed with investors waiting for stronger ...
 
 

Gold edged up on Friday, after falling more than 2 percent to a two-week low overnight on concerns over a looming increase in US interest rates, but prices were still on track for their biggest weekly drop in two months.
Other precious metals ...
 
 

Oil prices were steady near $49 a barrel early on Friday with some support from new Chinese reserve regulations yet remained on track for a seventh monthly fall weighed by a global supply glut.
Data this week showed US crude oil inventories had ...
 
 
our correspondent
Karachi
Trade turnover of cotton improved to 6,200 bales (of 155 kilogram each), as a number of traders returned to local markets and bought small number of bales to avoid a likely price hike, a dealer said on Friday.
“Prices may bounce like ...
 
 

US wheat held steady on Friday after rising in the previous session, but the market is poised for its biggest monthly drop in more than three years because of ample world supplies.
Corn eased for a fifth straight day and the market was on track ...