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Weather Report

Karachi Pakistan
May 18, 2012
Partly cloudy
28°C
humidity: 73%
sunrise: 5:46
sunset: 19:10
Forecast May 19, 2012
day
Mostly sunny
Mostly sunny
34°C
Forecast May 20, 2012
day
Sunny
Sunny
34°C
 

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Business

Banking system assets grow 8% – SBP

State-Bank-Of-Pakistan-

The assets of Pakistan’s banking system increased by 8% or Rs577 billion to Rs7.7 trillion during January-June, 2011. This surge in the banks’ total assets, both in absolute and growth

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Three new airlines to fly domestic routes

Plane2

The sharp rise in air passengers in recent years has prompted at least three business groups to start their engines and try and capture part of the local aviation industry.

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Rupee firms; KSE up; o/n rates flat

forex

The rupee firmed further on Friday buoyed by a lack of import payments after a days of record lows, but dealers said the local unit is likely to come under

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Govt makes huge borrowing from scheduled banks

Money

The government’s borrowing from central bank and scheduled banks is on the rise for meeting its expenses, swelling to Rs 698.314 billion in the recent days, the State Bank of

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DHA looks to borrow billions to buy majority stake in sinking cogen plant

Karachi

Defence Housing Authority (DHA) has decided to spend billions of rupees buying a majority stake in the faulty DHA Cogen power plant. “We are taking over the Cogen plant,” said

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SITE delegation to visit Sharjah Free Zone

Karachi

A delegation of SITE Association of Industry (SAI) discussed the trade and investment opportunities existing in Pakistan and United Arab Emirates (UAE) in a meeting with Chief Operating Officer, Hamriay

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Explaining the spin-off – AkzoNobel gearing up to supply Middle East paint market from Pakistan

Paints

Far from winding up its business in Pakistan, AkzoNobel – the world’s largest paint company – is planning to invest heavily in expanding its production facilities in Pakistan. According to

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Oil up in Asia on Iranian tensions

crude oil

Oil prices rose in Asian trade Monday after Iran’s military reportedly said it had shot down a US drone, while France and Germany prepared for crucial talks aimed at rescuing

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Industries facing huge losses

Industries

The Ministry of Petroleum and Natural Resources should devise a plan on war footing basis, under which gas connections be provided to industries for producing their own electricity. The quantity

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Stock market activity drops to 13-year low

kse

Investors seem to have parked their funds in other avenues or taken a break as activity at the stock market dropped to its lowest level since 1998 in November. Average

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World on brink of one more recession

United Nations

United Nations has warned that the world is on the brink of another recession, projecting that global economic growth will slow down further in 2012 and even emerging powerhouses like

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