Saad vows to reduce Railways’ losses from Rs 32b to Rs 3b this year

LAHORE: Federal Finance Minister Ishaq Dar has said that the China-Pakistan Economic Corridor (CPEC) would not only prove beneficial for...

India likely to see record wheat imports in 2016

NEW DELHI: Unfavorable weather and dwindling stocks may cause India to import a record volume of wheat over the next...

Banks reach $154.3m settlement on “dark pool” fraud

NEW YORK: Two major global banks, Barclays and Credit Suisse, are paying a combined $154.3 million to settle government investigations...

Saudi Arabia wants to cooperate to maintain oil market

RIYADH: Saudi Arabia wants to cooperate with other oil producers to support the oil market, Saudi-owned al-Arabiya television reported on...

Soft loans urges for Thailand rice farmers

BANGKOK: According to an article in The Nation, rice farmers in Thailand have called upon the government to release soft...

Thailand’s SAMART Corporation plans to invest $558m in energy biz in 2016

BANGKOK: Samart Corporation (SAMART), one of Thailand’s major technology service providers, plans to invest 20 billion baht ($558.66 million) this...

Jordan mineral fuel, lubricant imports drop 48.5% in 2015

AMMAN: Jordan's total value of mineral fuel and lubricant imports had declined by 48.5 per cent to JD2.2 billion in...

Central Bank of Swaziland hikes interest rate by 0.5%

LOBAMBA: The Central Bank of Swaziland (CBS) has hiked interest rates by a further 0.5 percent as the economy continues...

South Africa food prices to increase as drought bites

CAPE TOWN: The price of staple food may increase by close to 50% as a result of the ongoing drought,...

Global smartphone shipments cross 1.43 bln in 2015

WASHINGTON: More than 1.4 billion smart phones were shipped worldwide last year in a new high for the sector, with...

Finance Ministry to resolve issue of non-payment of fee and charges to CCP

ISLAMABAD: Finance Ministry is likely hold a high level meeting with stakeholders to resolve the issue of non-payment of 3...

Pakistan to export 50,000 tons Kinnow to Indonesia

LAHORE: Pakistan will export 50,000 tons Kinnow (orange) to Indonesia during the present season, December 2015 to April 2016 as...

NTC fully aware of needs of domestic industry: Chairman Raza

FAISALABAD: National Tariff Commission (NTC) is undertaking record 18 to 19 investigations after the promulgation of new ordinance issued in...

Investigators’ $4b ‘stolen; from Malaysia

KUALA LUMPUR: A Malaysian prosecutor has revealed that about $4 billion may have been stolen from a fund owned...

Protests against PIA privatisation cost Rs 600m

KARACHI: The Pakistan International Airlines (PIA) has to bear the losses of over Rs 600 million due to the...

Olive to be planted on 50,000-acre land by 2019

ISLAMABAD: The government is giving special attention to increase the production of olive oil to meet its demand in...

$920m Tarbela 4th extension project to be completed by June 2017

ISLAMABAD: About 47 per cent of construction work of Tarbela’s 4th Extension Power Project has been completed so far...

3G, 4G users increasing with 1.6m monthly average

ISLAMABAD: The number mobile internet users, especially 3G-4G subscribers in the country is increasing and would soon cross the...

Rs 700b poultry industry can produce millions of jobs