Oil prices turn higher in Asian tradeOil prices turn higher in Asian trade
 SINGAPORE: Oil prices turned higher in Asian trade Wednesday, as investors await the outcome of a US Federal Reserve meeting for clues on when it will begin scaling back its massive stimulus programme.   New York's main contract, light sweet crude for delivery in July, was up 17 cents to $98.61 a barrel and Brent North Sea crude for August delivery added 12 cents to $106.14 in the afternoon...
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Pakistani capital market closes lowerPakistani capital market closes lower
 KARACHI: Pakistan's stocks closed lower on Tuesday, below the recent high of 22,000 points, after foreign fund managers sold stocks for two consecutive days. The Karachi Stock Exchange's benchmark 100-share index closed 1.34 percent, or 296.84 points, lower at 21,919.62. Pakistan Petroleum Ltd fell 1.28 percent at 214.15 rupees, while market heavyweight Muslim Commercial Bank Ltd was down 3.98 percent at 291 rupees. Profit..
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Oil prices up in Asian tradeOil prices up in Asian trade
 SINGAPORE: Oil prices rose in Asian trade on Tuesday, fuelled by growing concern over the Syrian conflict and political unrest in Turkey, analysts said.   New York's main contract, light sweet crude for delivery in July, gained five cents to $97.82 a barrel and Brent North Sea crude for August delivery added three cents to $105.50.   "It's the Syrian war," said Kelly Teoh, market strategist at IG Markets..
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Oil down in Asia on profit-takingOil down in Asia on profit-taking
 SINGAPORE: Oil prices eased in Asian trading hours Monday as investors took profits following last week's rally triggered by concerns over rising tensions in the Middle East, analysts said.   New York's main contract, light sweet crude for delivery in July, dropped 19 cents to $97.66 a barrel while Brent North Sea crude for August delivery shed 10 cents to $105.83 in morning trade...
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Backlog of passports to be cleared within two weeks: Zahid Hamid Backlog of passports to be cleared within two weeks: Zahid Hamid
ISLAMABAD: Minister for Law and Justice on Sunday informed the National Assembly that the backlog of passports would be cleared within two weeks. Responding to a calling attention notice, he said,”We have issued around 850,000 passports while around 150,000 will be issued within two weeks.” He informed the House that around 20,000 passports were being issued daily to clear the backlog.He said the backlog of around 450,000..
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Govt employees to get 7.5 to 10 increase in salaries: Dar Govt employees to get 7.5 to 10 increase in salaries: Dar
ISLAMABAD: Federal Finance Minister Senator Ishaq Dar Saturday announced 7.5 to 10 per cent increase in government servants salary. Talking to newsmen before the National Assembly session, the finance minister said that the committee, constituted by prime minister, decided to increase government employees salaries from 7.5 to 10 per cent. The government had refused to increase the employees salaries in the budget. However, after protests..
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IPPs promise additional 1500 MW before Ramazan IPPs promise additional 1500 MW before Ramazan
ISLAMABAD: Federal Minister for Finance Senator Mohammad Ishaq Dar during his budget speech on June 12 announced that entire circular debt amounting to Rs.503 billion will be cleared off within sixty days. In pursuance of this announcement, the Federal Minister for Finance invited the IPPs to discuss the issue at length with him. Consequently a delegation of twenty eight IPPs, lead by Mr. Abdullah Yousaf called on Federal Minister..
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KSE-100 sheds 216 points KSE-100 sheds 216 points
KARACHI: Pakistan's stocks closed lower on Friday, though investors believe a reported power tariff hike of Rs2.5/unit could substantially reduce the nuisance of circular debt that is choking the country's power sector and its economy. However, the dividend paying ability of public sector companies like Pakistan State Oil Co Ltd and Oil and Gas Development Co Ltd may not improve as drastically as the market is pricing in, dealers said. The..
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PM constitutes committee to look into PIA affairs PM constitutes committee to look into PIA affairs
ISLAMABAD: Prime Minister Muhammad Nawaz Sharif on Friday constituted a four-member committee for restructuring and reforming of national flag carrier Pakistan International Airlines (PIA). The decision was taken at a high level meeting held at the Prime Minister’s Office to take stock of PIA affairs. The meeting was chaired by Prime Minister Muhammad Nawaz Sharif. Minister for Finance Muhammad Ishaq Dar, Advisor on Aviation Capt...
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Forex reserves ease to $11.446bnForex reserves ease to $11.446bn
 KARACHI: Pakistan's foreign exchange reserves eased to $11.446 billion in the week ending June 7, down 0.09 percent from $11.457 billion the previous week, State Bank of Pakistan (SBP) said. Remittances from Pakistanis abroad rose 5.74 percent to $12.76 billion in the 11 months of the 2012/13 fiscal year, from $12.06 billion during the same period last year. -- Reuters  ..
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Pakistan, China join hands to cooperate in energy, mass transit Pakistan, China join hands to cooperate in energy, mass transit
ISLAMABAD: Pakistan and China Friday signed a memorandum of understanding for cooperation in the fields of energy, mass transit, industrial cities and road sector projects. The MoU was signed between Ministry of Water and Power and China-based M/s Norinco International as a company’s delegation headed by its Vice President Wang Yitong, who is currently visiting Pakistan. Amid presence of Prime Minister Muhammad Nawaz Sharif, Wang..
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Initiative takes aim at smartphone theftInitiative takes aim at smartphone theft
  NEW YORK: Law enforcement officials from New York and San Francisco launched a nationwide campaign Thursday to curb smartphone theft with the help of the companies that make the coveted devices. A Secure Our Smartphones Initiative led by New York State attorney general Eric Schneiderman and San Francisco district attorney George Gascon calls for thwarting theft with technology that renders stolen mobile phones useless. "The..
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