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Business News

Latest Business News From Pakistan and Around the World..

KSE 100-Index closed lower on 26391.41pts

KARACHI: Following the boost in the last few days, Karachi Stock Exchange (KSE) 100 Index closed the trading day with the decline of 374.08 points on Monday, ARY News reported.

KSE 100-Index suspended on 26,391.41 points with the negative change … Read More

POL prices likely to decrease from April 1

KARACHI: Petroleum prices are likely to decrease by April 1, Oil and Gas Regulatory Authority (OGRA) sources said.

According to sources, OGRA has suggested the decrease of Rs 1.50 per liter for Petrol in proposed summary.

Furthermore, High Speed Diesel … Read More

Nokia protests new $414 million tax claim in India

AHMEDABAD (INDIA): Finland’s Nokia, currently embroiled in an Indian Supreme Court tax case, said on Friday it has received a new 300 million euro sales tax bill from Tamil Nadu, a claim it considered “absurd”.

According to the company, authorities … Read More

Euro too strong for exporters: EU’s Van Rompuy

BRUSSELS: The euro exchange rate is too strong for euro zone exporters, the president of the European Council said on Friday.

Herman Van Rompuy, who represents European Union governments in Brussels, also said the economic aspects of the euro crisis, … Read More

Petroleum Ministry decides to reduce gas load shedding in Sindh, Punjab

ISLAMABAD: Ministry of Petroleum has decided to reduce the span of gas load management in Sindh from 3 to days a week, whilst the CNG stations in Punjab will be provided gas throughout the week during specific hours – ARY … Read More

With cars, drivers, Google revs up home delivery

SAN FRANCISCO: When Google started testing a free same-day shopping delivery service in San Francisco last year, industry observers were surprised by the company’s foray into a notoriously tricky and decidedly low-margin real-world business.

Others raised their eyebrows when orders … Read More

China Mobile capex to rise 22 percent in 2014, aims to sell 100 million 4G devices

BEIJING: China Mobile Ltd’s capital expenditure will increase 22 percent to 225.2 billion yuan ($36.34 billion) this year, the company said in a presentation on Thursday, as it pumps money into developing its mobile networks.

This will include building more … Read More

In presence of the sanctions, IP pipeline project can’t proceed: Khaqan Abbasi

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Wednesday that Iran-Pakistan gas pipeline project will take three years time for its completion, once sanction over the project removed, ARY News reported.

Breifing media following the opening … Read More

There isn’t any war objectives behind Saudi Arabia’s aid: Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar said on Wednesday that Saudi Arabia has given Pakistan $1.50 billion for economic progress rather for any war objectives.

Talking to ARY News, Ishaq Dar advised opposition leaders to avoid doing politics over measures … Read More

KSE-100 Index closed higher on 27258.68pts

KARACHI: Karachi Stock Exchange (KSE) 100 index recorded slight growth of 11.71 points on Wednesday, ARY News reported.

KSE-100 Index closed at 27258.68 points with the progress of 0.04 per cent.

High and Low were 27365.85 and 27199.44 respectively.

Total … Read More

Positive trend in KSE continues

KARACHI: Karachi Stock Exchange (KSE) 100 index has witnessed a positive change of 17.87 points on Tuesday, ARY News reported.

KSE-100 Index closed at 27246.97 points with the positive progress of 0.39 per cent.

High and Low were 27373.02 and … Read More

Twitter CEO Costolo to make first China visit

SAN FRANCISCO: Twitter Inc CEO Dick Costolo will meet Shanghai government officials, academics and students in his first visit to China, signaling Twitter’s interest in cracking a lucrative but thorny market with 600 million Internet users.

Twitter, which has been … Read More

Altaf Hussain asks PM, CM Punjab to accept demands of nurses

KARACHI: Chief of Muttahida Qaumi Movement (MQM) Altaf Hussain has strongly recommended Prime Minister Mian Mohammad Nawaz Sharif and Chief Minister Punjab Mian Shahbaz Sharif to accept the demands of the nurses, ARY News reported.

In a statement Altaf Hussain … Read More

Japan’s Mizuho in U.S., Canada suits over Mt. Gox bitcoin losses

Mizuho Bank, one of Japan’s largest lenders, has became ensnared in North American legal fallout from Mt. Gox, once the world’s biggest bitcoin exchange, which collapsed last month after losing nearly half a billion dollars worth of customers’ digital currency.

Read More

U.S. lifts ban blocking BP from new government contracts

HOUSTON: The U.S. government lifted a ban on Thursday that excluded BP from new federal contracts, after the British oil major filed a lawsuit saying it was being unfairly penalized for its 2010 Gulf of Mexico spill.

The Environmental Protection … Read More