Business

KARACHI: Chinese President Xi Jinping will visit Pakistan soon as the dialogues between the two neighbouring countries about the visit...

New PIA chairman to assume charge soon: SC told

ISLAMABAD: Supreme Court (SC) has been told that Naseer S M Jaffar, the news chairman of PIA, will soon assume...

Commercial audit of electricity overbilling soon: Khawaja Asif

ISLAMABAD: Minister for Water and Power, Khawaja Muhammad Asif informed the house that commercial audit of electricity overbilling is expected...

Pakistan’s imports up by 12.01pc to $12.5b in July-Sept

ISLAMABAD: The country’s total import bill increased by 12.01 per cent and reached $12.519 billion during the first quarter of...

Raw cotton prices continue to fall

byWaqar Ahmed Ansari

KARACHI: Raw cotton prices will continue to tumble due to the recent 5 percent tax on cottonseed cake and non-procurement...

India asks US to back off from ‘disputed’ Diamer-Bhasha dam

WASHINGTON: India stressed upon the US to avoid investment in the Pakistani hydro-electric project of Diamer-Bhasha dam. The media reports...

China to fund Pakistan Railways projects with $ 3.5b grant

LAHORE: China will extend $ 3.5 billion funding to Pakistan Railways for repair and maintenance of its infrastructure from Karachi...

Govt pays K-Electric Rs53b during current year, Rs312b in eight years

ISLAMABAD: The government paid Rs312 billion to the Karachi Electricity Supply Company (K-Electric) during the last eight years, in which...

MCB reports record quarterly profit of Rs9.7 billion

KARACHI: MCB Bank has posted record quarterly profit before tax of Rs9.7 billion as compared to Rs9.4 billion reported in...

Agri credit disbursement up by 38pc to Rs98b in July-Sept 14

KARACHI: Agriculture credit disbursement has increased by 38 per cent to Rs98 billion during the first quarter of current financial...

SBP sanctions amalgamation of HSBC Bank into Meezan Bank

bySyed Muhammad Aslam

KARACHI: State Bank of Pakistan has sanctioned the Amalgamation of USBC Bank Middle East Limited with and into Meezan...

Traders urge CDA to resolve issues

ISLAMABAD: Newly elected Traders Welfare Association (TWA), I-8 Markaz President Raja Fiaz on Tuesday urged the Capital Development Authority (CDA)...

PTI protest’s fear compels NEPRA to retain power tariff

ISLAMABAD: The government on Tuesday decided to retain the electricity tariff at an average rate of Rs11.52 per unit against...

Businessmen vexed over SBP guidelines on payment instruments

KARACHI: Businessmen expressed deep concerns over the newly-issued guidelines of SBP to banks regarding strengthening internal controls in payment instruments....

Meezan Bank takes over Pakistan operations of HSBC

KARACHI: Meezan Bank has acquired Pakistani branch operations of HSBC Bank Middle East after fulfilling all regulatory requirements. HSBC Pakistan...

Low exports swell current account deficit to $1.33b

KARACHI: SBP data revealed that country’s current account deficit in the first three months of 2014-15 remained $1.33 billion, expanding...

UK asks world to financially support CASA 1000 Project

ISLAMABAD: British High Commissioner Philip Barton and Department for International Development (DFID) Head Richard Montgomery, encouraging Central Asia South Asia...

LNG import projects charm Chinese investors