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‘Business’ News

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PTCL Posted 2.5 bln Rupees Net Profit for Q3

Friday, April 30, 2010 9:32

PTCL Posted 2.5 bln Rupees Net Profit for Q3 Pakistan Telecommunication Company Ltd (PTCL) announced its financial results for the 3rd quarter ended on 31st March, 2010 in their meeting of the Board of Directors held on 29th April 2010. The Company has announced a Net Profit of Rs. 2.51 billion compared ...

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NBFCs licence period extended to three years

Thursday, April 29, 2010 17:17

The Securities and Exchange Commission of Pakistan (SECP) has extended the validity period, from one year to three years, for the licences to be issued to non-banking finance companies (NBFCs). In this regard, the SECP has made significant amendments in the Non-Banking Finance Companies (Establishment and Regulation) Rules ...

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Increase in oil prices likely from May 1

Increase in oil prices likely from May 1

Thursday, April 29, 2010 10:16

ISLAMABAD : The government is likely to increase oil prices by Rs 3.50 per litre, effective from May 1, on the back of hike in international oil prices, Business Recorder has learnt. According to sources, the Oil and Gas Regulatory Authority (Ogra) in its working has estimated increase in oil prices ...

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Supreme Court scraps GDF Suez LNG deal

Supreme Court scraps GDF Suez LNG deal

Wednesday, April 28, 2010 18:12

The Supreme Court said the petroleum ministry had not taken awarding procedures seriously, and a decision by the government's economic decision-making body in February to award the contract to France's GDF Suez “shall be of no consequence”. The Supreme Court took up the case after media reports that ...

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IMF & Pakistan: Some key issues & problems

IMF & Pakistan: Some key issues & problems

Wednesday, April 28, 2010 12:14

KARACHI: The International Monetary Fund s (IMF) board will likely to meet in mid-May to consider the next tranche of Pakistan s $11.3 billion loan. The IMF s board had originally been scheduled to meet at the end of March to approve the next portion of the [caption id="attachment_417" align="alignright" width="400" caption="IMF ...

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Based on cost factor Real GDP to grow to $196.58bn in 2010-11

Tuesday, April 27, 2010 18:16

The government estimates suggest that the real gross domestic product (GDP) based on cost factor would grow to $196.589 billion with a GDP growth rate of 4 percent and exchange rate at Rs 86.5 per dollar during the next fiscal year 2010-11, official sources informed here on Monday. These ...

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No new tax in coming budget Kaira

Tuesday, April 27, 2010 18:12

Finance Minister Punjab, Tanvir Ashraf Kaira said the government is trying to provide maximum relief to the people of Pakistan and it is crucial to work on urgent basis to overcome price hike because the prime victims of price hike are the people from middle class and the ...

Asian stock markets fall after muted US session

Asian stock markets fall after muted US session

Tuesday, April 27, 2010 9:47

TOKYO: Most Asian stock markets declined Tuesday after a directionless day on Wall Street as investors awaited earnings from some of the region's biggest companies, reports AP. [caption id="attachment_311" align="alignright" width="300" caption="Asian Market"][/caption] Japan's Nikkei 225 stock average fell 0.4 percent ...

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CNG Stations to remain close for 24 hours

CNG Stations to remain close for 24 hours

Monday, April 26, 2010 21:16

The government has decided to shut all CNG stations across country for 24 hours as part of energy conservation plan, Geo News reported. Those who defied the orders would be arrested. [caption id="attachment_305" align="alignright" width="227" caption="CNG Station"][/caption] G M Sui Northern ...

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150 US companies facing bankruptcy threat

150 US companies facing bankruptcy threat

Friday, April 23, 2010 4:23

150 US companies facing threat of bankruptcy as Obama administration has announced amendments in financial reforms to tackle the situation. US President Barack Obama said in a speech that the United States was doomed to repeat its economic crisis if his financial reform bid failed, calling financial institutions ...