Archive for the ‘News’ Category

Buying spree continues at Karachi Stock Exchange

Buying spree continues at Karachi Stock Exchange

KARACHI:  Buying spree further strengthened market at Karachi Stock Exchange (KSE) as 100‑Index surged by 156.97 points to close at 6074.87 on Tuesday, dealers said.
The turnover volume dropped to 165.193 million shares as 147 scrips recorded gains while 133 sustained losses and 5 remained unchanged.
A dealer at a leading brokerage house said that the market [...]

Pakistan, India swap nuclear site lists amid tensions

Pakistan, India swap nuclear site lists amid tensions

ISLAMABAD: Pakistan and India exchanged lists Thursday of their nuclear installations under an accord aimed at protecting the sites in case of war, officials said, amid simmering tensions over the Mumbai attacks.
The South Asian rivals, whose relations have been rocky since the deadly November attacks on India’s financial centre Mumbai, have exchanged the lists annually [...]

India signs biggest ever defence deal with US

India signs biggest ever defence deal with US

New Delhi: In a sign of deepening strategic ties, India has inked a USD 2.1 billion deal with the US to buy eight Boeing P-8 Long-Range Maritime Reconnaissance (LRMR) aircraft for its Navy.
This is India’s biggest ever defence deal with the US. According to reports, the deal was signed on January 1 by Preeti Sudan, [...]

JF-17 aircraft serial production to start soon: NA

JF-17 aircraft serial production to start soon: NA

ISLAMABAD: Pakistan Aeronautical Complex (PAC) would soon start serial production of multi-role fighter aircraft (JF-17 Thunder) in collaboration with China, Standing Committee of the National Assembly on Defence Production on Thursday was informed.
The Committee headed by Sheikh Aftab Ahmad visited the PAC and was given detailed briefing about the ongoing projects being undertaken by the [...]

Zardari approves NAB amendments

Zardari approves NAB amendments

ISLAMABAD: In a major decision, Pakistan President Asif Zardari has exempted the accountability of politicians and parliamentarians by the country’s controversial top anti-graft body, the National Accountability Bureau set up by former president General (retd) Pervez Musharraf to hound politicians after he seized power in 1999. Official sources confirmed Sunday Zardari has approved amendments in [...]

Pakistan’s banking sector remains strong: report

Pakistan’s banking sector remains strong: report

KARACHI: The Pakistani banking sector has remained remarkably strong and resilient during the last 18 months but the excessive dependence of economy on banking system is quite stark in comparison with the other emerging economies, said Financial Stability Review 2007-08 released by the State Bank of Pakistan (SBP) here.
Pakistan’s banking sector has remained remarkably strong [...]

Pakistan seizes explosives-packed van: security official

Pakistan seizes explosives-packed van: security official

PESHAWAR, Pakistan (AFP): Pakistani security forces battling to clear militants from the area along a key NATO supply route into Afghanistan on Sunday seized a van packed with 1,000 kilos of explosives, an official said.
Seven suspected Taliban militants were also arrested in the operation in the northwestern town of Jamrud, the gateway to the famed [...]

Govt making serious efforts to overcome energy crisis on war footings

Govt making serious efforts to overcome energy crisis on war footings

FAISALABAD, (APP): The present government is fully aware of the energy crisis and it is making sincere efforts to solve this issue at the earliest on war footing.
Rana Farooq Saeed Khan, Federal Minister for Textile Industry said this while  addressing a gathering of traders, businessmen, industrialists and textile exporters in Faisalabad Chamber of Commerce and [...]

Trade body for more dams to meet power needs, save industry

Trade body for more dams to meet power needs, save industry

LAHORE, (APP): Federation of Pakistan Chamber of Commerce & Industry (FPCCI), an apex body of business chambers in the country, Saturday urged the need for immediate construction of water reservoirs and dams to meet increasing power shortage.
Speaking at a round table discussion on “The impact of power shortage on national economy” FPCCI president Tanvir Ahmad [...]

Pakistan meets all IMF targets

Pakistan meets all IMF targets

KARACHI, (APP): Advisor to PM on Finance Shaukat Tarin said Saturday that the country has met all the targets set by International Monetary Fund (IMF). He was talking to media after holding meeting with the management of Pak‑Oman Investment Company Ltd at FTC building. He said that the government borrowing was restricted to Rs 242 [...]