FAISALABAD: The artificial raise in the thread prices began to dilute along with its enhanced availability at the national market following the promulgation of regulatory duty on thread export, Geo News reported Sunday.
The government imposed 15 percent duty on thread export after the protests by value-added textile sector.
According to Faisalabad yarn market sources, the [...]
ISLAMABAD: Pakistan’s fruit and vegetable exports grew by 55.06 per cent and 71.22 per cent respectively during the first ten months of the current financial year, Federal Bureau of Statistics (FBS) reported.
The exports of fruits during July-April (2009/10) were recorded at $208.773 million against the exports of $134.643 million during the same period [...]
ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) called off their countrywide strike after meeting with Textile Minister.
A delegation of APTMA headed by Punjab Chairman Gohar Ijaz met with Federal Minister Rana Farooq Ahmad Khan.
In a media briefing after the meeting, federal minister said that negotiations will be held with value added textile sector [...]
KARACHI: Pakistan’s total liquid foreign reserves have risen to 15.3574 billion dollars, showing an increase of 397 million dollars, according to the central bank.The SBP spokesman, Wasimuddin talking to Geo News said, on May 7, 2010 the foreign reserves held by State Bank amounted to dollars 11.5524 billion. Whereas the net foreign reserves held by [...]
ISLAMABAD: The International Monetary Fund (IMF) has assured Pakistan it will approve the release of the next tranche of an $11.3 billion loan at a board meeting on May 3, the prime minister’s office said on Wednesday.
Prime Minister Yusuf Raza Gilani said in talks with the IMF in Washington that his government was trying to [...]
KARACHI: The local share market witnessed profit taking on Monday with its major Index losing 29 points to close at 10,557.
The Index started off in the green zone and crossed 10,600 mark but failed to sustain it due to profit taking seen at the later stage.
The market turnover was recorded at 210 million shares with [...]
WASHINGTON: US Defense Secretary Robert Gates said on Sunday that Iran is not on the threshold of producing a nuclear weapon and that its program was progressing slower than Tehran expected.
“I’d just say, and it’s our judgment here, they are not nuclear capable,” Gates said in an interview. “Not yet.”
Speaking to NBC’s “Meet the Press,” [...]
ISLAMABAD: Hungarian oil and gas company MOL will invest $180 million in Pakistan for oil and gas exploration, Geo News reported Sunday.
Talking to media here, MOL Pakistan managing director Janos Feher said the company has invested $822.5 million in Pakistan during the last ten years, adding the Company will invest $8 million in Margalla Block [...]
KARACHI: Profit taking at Karachi Stock Exchange (KSE) on Tuesday took away 28 points from the benchmark KSE-100 Index which closed at 10,416.
The stock market began with green numbers and was witnessed floating at one stage 10,554 level. But later profit taking in energy and fertilizer stocks switched the bullish trend into negative and [...]
LONDON: U.S. crude futures hit an 18-month high on Monday, climbing towards $86 per barrel on expectations of faster-than-expected economic recovery.
Data on Friday showed U.S. employers created jobs in March at the fastest rate in three years. Non-farm payrolls rose 162,000, only the third increase since the U.S. economy fell into recession in late 2007 [...]
