The Oil and Gas Development Company Limited (OGDCL) with its partner Government Holdings Private Limited (GHPL) discovered a gas reservoir of 1.06 Trillion Cubic Feet (TCF) at Zin SML-I Block located in District Dera Bugti of Balochistan. This was reveale
The Oil and Gas Regulatory Authority (Ogra) on Friday announced reduction in petrol price by Rs 1.23 per litre but increased diesel price by Re 0.36 per litre, effective December 22 to January 22, 2013. According to a notification issued here, price of pe
The Oil and Gas Regulatory Authority (Ogra) on Friday announced reduction in petrol price by Rs 1.23 per litre but increased diesel price by Re 0.36 per litre, effective December 22 to January 22, 2013. According to a notification issued here, price of pe
The Oil and Gas Regulatory Authority (Ogra) on Friday announced reduction in petrol price by Rs 1.23 per litre but increased diesel price by Re 0.36 per litre, effective December 22 to January 22, 2013. According to a notification issued here, price of pe
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Bridge is a game of great expectations as well as a game of the least expected results. A lot of funny things happen at the Bridge table where the human vulnerability adds spice to the game resulting in the most bizarre action whereby the tables get turne
Cleanliness is an important factor of human life. About 80 percent of diseases such as diarrhea, cholera, typhoid and hepatitis are produce due to inadequate sanitation and poor hygienic conditions. Just like home, hospitals and healthcare units should be
Ismail Gulgee being realistic and abstract in nature acquired totally a different meaning and entirely new sensitivity to the painting world. On his canvas the dynamic forces of creation and expression unite and energise a new being. At first he did all k
The phenomenal success of Turk TV soap "Ishq-e-Mammnu" got Pakistani TV stars, directors, producers in a dither. Last Monday they complained peevishly to journalists at the Karachi Press Club. This because yet another tear-jerker full of passion and trage
The Fifth Alami Urdu Conference has made it clear that the Arts Council of Pakistan is still the Arts Council of the Federal Capital of Arts as the founder of the Council had envisaged. It is no longer working as the headquarters of a provincial body.
Indian soyabean futures dropped on Thursday, tracking a fall in overseas prices and a rise in supplies in the local spot markets. Soyaoil was steady as a drop in palm oil prices outweighed a weak rupee, while rapeseed fell on higher acreage. At 0824 GMT,
Brazil's 2012/13 coffee harvest totalled a record 50.8 million 60-kg bags, the government said on Thursday, raising its final figure for the crop from the 50.5 million bags estimated in September as new farm investments helped boost yields. The 2012/13 ha
Ukraine, which has urged traders to halt wheat exports, will allow them to ship abroad an additional 300,000 tonnes of wheat which they can buy from the state-run intervention fund, Agriculture Minister Mykola Prysyazhnyuk said on Thursday. "We will allow
Not a single commodity item showed any change on the wholesale grain and oilseeds market on Friday in the process of trading, Grain Merchant Group release said.
European wheat futures tumbled on Thursday to their lowest level in almost five months as year-end selling accelerated, fuelled by a slide in Chicago and worries about stalled US budget talks. With cash markets quiet ahead of the year-end holiday period a
The Karachi Port handled 100,697 tonnes of cargo comprising 53,735 tonnes of import cargo and 46,962 tonnes of export cargo including 2,533 loaded & empty containers during the last 24 hours ended at 0700 hours on Friday. The total import cargo of 53,735
As dollar's surge halted, most of the leading mills refrained from routine business on the cotton market on Friday, dealers said. Official spot rate was unchanged at Rs 6000, they said. In ready business, nearly 9,000 bales of cotton finalised between Rs
China's economic performance in 2013 needs pro-growth policies and speedier reforms to boost domestic demand in the face of uncertainty in the global environment, a senior economist at the cabinet's think tank said on Thursday. "We need to focus more on b
Prosecutors have again searched the headquarters of Deutsche Bank, this time in connection with its legal battle with the estate of dead media mogul Leo Kirch, a week after a high-profile raid in a carbon tax probe. Munich prosecutors searched Deutsche's
Zimbabwe signed a $400 million deal with China's state-owned SinoHydro on Thursday to increase electricity production and ease daily blackouts. The deal will mean a 400 megawatt upgrade for the Kariba Hydro power station on the Zambezi river, meeting an e
Walgreen Co posted an unexpected decline in quarterly profit on Friday as the largest US drugstore chain worked o n winning back former customers an d changed how it accounts for its first international acquisition. For the first 8-1/2 months of 2012 Walg
Walgreen Co posted an unexpected decline in quarterly profit on Friday as the largest US drugstore chain worked o n winning back former customers an d changed how it accounts for its first international acquisition. For the first 8-1/2 months of 2012 Walg
Germany's DVB Bank SE has sued India's aviation regulator and Kingfisher Airlines to have two planes it financed for the troubled carrier deregistered, a possible first step towards recouping its funds. The case underlines the problems that leasing firms
The European Commission said Friday that South Korea's Samsung Electronics was abusing its dominant market position in certain technologies when it took out injunctions against fierce rival Apple. As the two giants fight it out in the smartphone and table
Russia's gas giant Gazprom is taking a controlling stake in Kyrgyzstan's debt-ridden state gas company for one dollar, Kyrgyzgaz said on Friday. "The price has been set at one dollar" for 75 percent of the company, considering its estimated debt of $38 mi
Indonesia has nominated its ex-trade minister to run for the World Trade Organisation's top post, hoping she would bridge the gap between developing and developed countries, a senior official said Friday. Mari Pangestu, 56, who held the position of trade
British defence giant BAE Systems unveiled on Friday a £2.5-billion ($4.1-billion, 3.1-billion-euro) deal to sell 12 Eurofighter Typhoon combat jets and eight Hawk trainer planes to Oman. The deal, which will help sustain thousands of jobs in Britain, is
India's federal police filed charges against Bharti Airtel Ltd and Vodafone Group Plc's India unit on Friday as part of a probe into alleged corruption in the allocation of mobile phone airwaves a decade ago, a lawyer said. The charges include criminal co
The Eurogroup of eurozone finance ministers and the European Central Bank ruled out Friday a partial debt write-off for Cyprus. Eurogroup chief Jean-Claude Juncker, speaking on German public radio Deutschlandfunk, said that a so-called debt "haircut" for
The Eurogroup of eurozone finance ministers and the European Central Bank ruled out Friday a partial debt write-off for Cyprus. Eurogroup chief Jean-Claude Juncker, speaking on German public radio Deutschlandfunk, said that a so-called debt "haircut" for
German consumer morale dropped for the fourth month running to its lowest level in more than a year as shoppers become increasingly wary of the effect the euro zone debt crisis is having on Europe's largest economy. Market research group GfK said on Frida
US conglomerate General Electric Co has agreed to buy the aviation business of Italy's Avio for $4.3 billion, in a sign of confidence about the country's underlying strength despite its deep recession. The deal comes as Europe's fourth-biggest economy lab
Media conglomerate News Corp announced Friday that it had filed a document with US regulators detailing its split into two independent companies. The statement did not specify a date for the split into one company focused on news and publishing, to retain
Italian airline Alitalia is once more on the verge of bankruptcy as it loses 630,000 euros ($832,000) a day in addition to the 730 million euro deficit accumulated over four years under private ownership, the Repubblica daily said Friday. The flagship com
Top world steelmaker ArcelorMittal said Friday it was taking a roughly $4.3-billion (3.25-billion-euro) charge to reflect the fallen value of its European operations due to weaker demand in the region.
Myanmar and Japan agreed to start work next year on a huge industrial zone near Yangon, officials from the two countries said Friday, as the impoverished nation hungrily eyes foreign investment. The 2,400 hectare (6,000 acre) Thilawa project will include
The US House passed a $633 billion defence authorisation bill Thursday that includes fresh sanctions against Iran and funds the war in Afghanistan, while offering compromise language on military detention of US citizens. In addition to covering standard n
The US economy showed surprising signs of resilience in November despite the approach of the so-called fiscal cliff as consumer spending rose by the most in three years and a gauge of business investment jumped. Consumer spending rose 0.6 percent when adj
Indian shares ended lower on Friday, marking a second week of declines, as lenders were hit by profit-taking, while Bharti Airtel fell after federal police filed charges as part of a probe into alleged corruption in allocation of mobile airwaves. The mark
Taiwan stocks fell 1 percent to close at a near four-week low on Friday, with flat panel makers sharply lower on a media report that panel prices will start to decline into the typically slow first quarter. The main TAIEX index ended down 75.53 points at
Japan's Nikkei average fell below the 10,000-mark on Friday after a Republican proposal to avert a US fiscal crunch failed to get enough support, a setback that triggered selling in futures and shares of exporters. The Nikkei dropped 1.0 percent to close
US stocks lost more than 1 percent on Friday after a Republican proposal for averting the "fiscal cliff" failed to pass, diminishing hopes that a deal would be reached soon in Washington. Trading is expected to be volatile as investors view a fiscal agree
US stocks rebounded from early losses on Thursday after Republican House Speaker John Boehner said he would keep working on a solution to the "fiscal cliff" while also slamming President Barack Obama's approach to budget talks. NYSE Euronext was the S&P 5
US Treasuries prices rose on a safety bid on Thursday as the absence of progress in the budget talks in Washington raised the stakes that a package of tax hikes and spending cuts will take effect next year and tip the economy back into recession. As a yea
US Treasuries prices rose on a safety bid on Thursday as the absence of progress in the budget talks in Washington raised the stakes that a package of tax hikes and spending cuts will take effect next year and tip the economy back into recession. As a yea
Seoul shares ended down on Friday to post their first weekly loss in five weeks after US House Speaker John Boehner abandoned his "fiscal cliff" plan, muddying the outlook for a deal to avert harsh spending cuts and tax hikes. Heavyweight Samsung Electron
Hong Kong shares posted their worst day in three weeks and their first weekly loss in five on Friday, as investors cut risk in the last full trading week for the year after talks stalled over a deal to avert a fiscal crisis in the United States. Onshore C
Weaker bank stocks led European shares lower on Friday, unsettled by new signs the United States may fail to reach a deal to avoid growth-sapping fiscal measures. Equities fell after the US Republican party failed overnight to back a plan aimed at avertin
Philippine stocks ended higher on Friday, resuming a gain on the week, as investors built up positions in bluechips like banks amid ratings upgrade hopes, while other overbought markets retreated as concerns about US fiscal cliff prompted selling. The Phi
Australian shares slipped 0.2 percent on Friday pulled down by shares in mining and gold as news of a Republican collapse in the US "fiscal cliff" wrangle weighed on investor sentiment leading up to the Christmas break. Miners BHP Billiton Ltd and Rio Tin
Britain's top shares fell on Friday after a choppy session as anxiety over US budget negotiations took its toll on investor sentiment. The FTSE 100 shed 18.35 points, or 0.3 percent, to 5,939.99, having lost as much as 1.1 percent after US Republicans rej
The Swiss franc tracked the euro lower against the dollar on Friday afters US lawmakers failed to reach a deal to avoid the growth-sapping tax hikes and spending cuts that could push the world's largest economy into recession. The franc fell 0.3 percent a
China's yuan moved a touch firmer against the dollar on Friday, shrugging off a stronger greenback that rose as investors turned to safer assets on worries the US could go over the looming "fiscal cliff". The yuan closed at 6.2286 per dollar, up 0.03 perc
The euro fell and the yen firmed on Friday after a US Republican plan aimed at avoiding a fiscal crunch failed to gain enough support, deepening uncertainty over the chances of a deal by year-end. Republican lawmakers delivered a rebuke to their leader, H
The dollar rose against growth-linked currencies on Friday after talks to resolve a budget crisis stalled, fuelling concerns the world's largest economy could be tipped into recession. The dollar, however, lagged the yen, as investors trimmed large short
-The dollar firmed on Friday as investors sought safety after US budget negotiations to avert spending cuts and tax increases took a turn for the worse, fuelling concerns the United States could slide into recession. The demand for the most liquid currenc
Currencies held to tight ranges in thin pre-holiday trade on Thursday, with the euro see-sawing against the US dollar while investors struggle to gauge developments on US budget talks against a backdrop of generally positive US economic data. Concerns abo
The Australian and New Zealand dollars slipped against the yen on Thursday after the Bank of Japan (BoJ) eased policy but failed to take the bold action the market was betting on to bolster a weak economy. The Aussie trimmed losses to last fetch 88.21 and
The Indian rupee hit a three-week low on Friday, extending its fall for a third straight week, as uncertainty over the US "fiscal cliff" resolution dented demand for risk assets including domestic equities. "INR has been choppy and I expect it to remain s
Most emerging Asian currencies slid on Friday as deepening uncertainty over a US budget deal prompted investors to reduce risky assets after a Republican attempt to avert the US "fiscal cliff" failed. The Indonesian rupiah slid, with dollar/rupiah non-del
Sterling fell against the dollar on Friday after talks to resolve the US budget crisis stalled and lacklustre UK data reinforced concerns about the economy. Renewed worries over the US "fiscal cliff", which could tip the world's largest economy into reces
South Africa enjoyed a superb 2012 as they went to the top of the world Test rankings. Meanwhile, after years of declining performances, the West Indies won the World Twenty20. Unbeaten in 10 Tests, a notable nine away from home, South Africa ended Englan
Punjab Chief Minister Shahbaz Sharif has visited the under-construction modern Sports Complex at Johar Town, here on Friday, and while inspecting the construction work, directed the concerned authorities to accelerate the pace of project. He disclosed tha
Zambia were named Africa's national football side of the year on Thursday at the Confederation of African Football awards, which also saw a series of honours going to Egypt. Zambia's narrow win over power-house Ivory Coast in the African Cup of Nations fi
Ivorian Yaya Toure of Manchester City won Africa's top football honour on Thursday, beating out his countryman Didier Drogba and Alexandre Song of Cameroon for the CAF player of the year award. Toure, 29, claimed the prize for the second consecutive year,
Argentina legend Diego Maradona is in talks to become the Iraqi national team's new coach for its World Cup 2014 qualifying campaign, his agent has revealed. "We have received the offer. We contacted Maradona and he gave us his approval. We will meet the
English county Hampshire said on Friday that they have secured the services of Pakistan off-spinner Saeed Ajmal next season as a two-month replacement for Australia Twenty20 skipper George Bailey. The 35-year-old Ajmal, who has taken 122 wickets in 23 Tes
Manchester City's bid to reel in Premier League leaders Manchester United has been jeopardised by injuries to key players as they prepare to open their Christmas campaign at home to Reading on Saturday. Six points off the pace after their 3-2 loss in the
English county side Nottinghamshire have defied the wishes of some of their England internationals by banning them from playing in the Indian Premier League, the club said on Friday. The new IPL season begins on April 3 and Notts players Alex Hales, Micha
The football club of a Dutch linesman who was kicked to death earlier this month is to play the team of his attackers again, Dutch media reported Friday. "We will play against each other again," Buintenboys club director Marcel Oost told local radio stati
Six leading hockey teams of the country are taking part in the First Women's Challenge Cup Hockey Tournament being played here at the National Hockey Stadium from December 30. Teams which have confirmed their participation in the tournament, which will be
Favourite to clinch the title of the Asian Champions Trophy, which started in Doha (Qatar) on Thursday, the green-shirts recorded a convincing 8-3 victory against Oman in the high scoring match in their first match of the tournament at the Al-Rayyan Hocke
A global day of light-hearted doom-themed celebration and superstitious scare-mongering culminated Friday in the jungle temples built by the Mayan people of Central America, whose calendar sparks fears of apocalypse. December 21 marks the end of an era th
South Sudanese armed forces shot down a United Nations helicopter, killing all four crew members on board, the UN said Friday. The UN Mission in South Sudan (UNMISS) said an investigation was launched to establish the circumstances under which the craft w
The EU on Friday agreed new sanctions against Iran, adding 18 companies or institutions and one person to a blacklist aimed at forcing stalled talks on Tehran's contested nuclear drive to resume. A statement said a person and 18 entities "involved in nucl
Supporters of President Mohamed Morsi and his opponents hurled rocks at each other in Egypt's second city on the eve of a final vote on an Islamist-influenced constitution that has divided the country. Police fired tear gas to separate scores of opponents
EU leaders played up the positives of a 30th summit with Russia Friday but a combative Russian President Vladimir Putin took them bluntly to task over energy and human rights. EU President Herman Van Rompuy, highlighting the depth of their trade ties, sai
Canada added Iran's Quds Force to a list of terrorist groups on Thursday, saying the elite special operations unit of the Iranian Revolutionary Guard had been arming the Taliban, Hamas and others. Public Safety Minister Vic Toews said the Quds Force was r
President Bashar al-Assad's military has fired more Scud-type missiles inside Syria, Nato officials said on Friday, more than a week after the Western alliance first detected such arms being used on rebel targets. "I can confirm that we have detected the
Prime Minister David Cameron on Thursday paid a pre-Christmas visit to British troops serving in Afghanistan, insisting that the "high price" paid by servicemen had been worthwhile, his office said. Cameron told reporters that Afghan security forces were
Britain has paid out £14 million ($22.7 million, 17.2 million euros) to Iraqis who accuse British troops of illegally detaining and torturing them following the 2003 invasion, the Ministry of Defence said Thursday. The ministry confirmed a report in the G
A vicious cold snap across Russia and eastern Europe has claimed nearly 200 lives, officials figures showed Friday, as forecasters warned it would last until Christmas Eve. In Russia, the cold has killed two people in the past 24 hours, the Ria-Novosti ag
Mourners in Newtown, Connecticut, stood in silence under heavy rain while church bells rang to honour the 20 young children and six staff massacred in a school shooting a week ago. The sombre scene at 09:30 am, the moment a week earlier when a deranged lo
Four people died Friday and several police officers were wounded in a shooting spree in rural Pennsylvania, officials said. The shootings, exactly a week after a massacre of 20 children and six adults at a school in Connecticut, "happened over a large are
Poor countries with loans from the IMF can continue to pay no interest until the end of 2014, the Fund's board said on Friday, as their economies are still recovering from the global economic crisis. The IMF's zero-interest loan program for low-income cou