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Karachi won’t get fruits in Ramzan if KE fails to restore markets’ power

Karachi’s fruit and vegetable sellers threatened to shut down the city’s main market if K-electric failed to restore power supply, SAMAA TV reported on Wednesday.  Asif Ahmed, chairman of the Market Committee, said that K-electric suspended power supply to the fruit and vegetable market six months ago and had promised to install meters within a month….

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May 2, 2018


Pakistan regulator to adopt 7 new Islamic finance standards

ISLAMABAD: Pakistan’s capital market regulator will introduce seven new standards covering a variety of Islamic finance transactions, as it fast-tracks the adoption of rules to help streamline industry practices. The Securities and Exchange Commission of Pakistan (SECP) said it had opened a two-week public consultation period for the standards, which are to be issued by…

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April 11, 2018


‘Ecomm Fest’ aims to spur online giants in Pakistan

KARACHI: Group-m, a media investment company, organized its ecommerce festival 2018 at Karachi’s DHA Golf City on Tuesday, extending a valuable opportunity to clients for investment in IT and other sectors. The event offered an optimally effective platform to online enterprise and media giants to help them explore more avenues for investment and create valuable…

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March 27, 2018


Twitter bans cryptocurrency ads on fraud fears

SAN FRANCISCO: Twitter on Monday announced a ban on ads for initial offerings of cryptocurrency or sales of virtual currency tokens, sending the value of bitcoin diving below $8,000. Twitter followed the lead of Google and Facecook, which earlier this year cracked down on digital currency ads to protect users from being duped. “We are…

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March 27, 2018


Bitcoin drops after dramatic gains ahead of futures launch

FILE PHOTO: A bitcoin sign is seen during Riga Comm 2017, a business technology and innovation fair in Riga, Latvia November 9, 2017. REUTERS/Ints Kalnins/File Photo LONDON/NEW YORK: Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40 percent in the preceding 48 hours, sparking fears the…

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December 10, 2017


Bitcoin touches its highest at $14,400 in Asian trade

SINGAPORE: Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News. The rally came just…

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December 7, 2017


Air raids on market kill 53 in north Syria town: monitor

BEIRUT: Air strikes on a market killed at least 53 people, including children, in a town in northern Syria on Monday despite a “de-escalation zone” in place there, a monitor said. The Britain-based Syrian Observatory for Human Rights said it was not immediately clear whether the strikes on rebel-held Atareb had been carried out by…

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November 14, 2017


Uber boss says U.S. market unprofitable amid tough competition from Lyft

SAN FRANCISCO: Uber Technologies Inc will continue to lose money in its home market for at least the next six months as rival Lyft Inc poses a fierce competitive challenge, Chief Executive Dara Khosrowshahi said on Thursday in his first public comments since taking the top job at Uber two months ago, reported Reuters. “The…

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November 10, 2017


Dollar treads water vs. yen with eyes on North Korea, euro extends gains

TOKYO: The dollar was little changed against the yen on Tuesday, with the market wary of potential North Korean provocations, while the euro extended gains following upbeat German data and hawkish-sounding comments from a European Central Bank official, reported Reuters. The greenback was steady at 112.670 yen. It had popped up to a near three-month…

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October 10, 2017


E-cigarettes containing nicotine linked to higher risk of heart attacks, strokes

Many people consider e-cigarettes a healthier alternative to regular cigarettes. But according to a new study, they could increase your risk of heart attack and stroke if they contain nicotine, reported The Independent. Researchers from the Karolinska Institute, a medical university in Stockholm, found that vaping devices containing nicotine can result in a stiffening of…

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September 14, 2017


Crude dips, gasoline spikes as floods knock out one-fifth of U.S. refineries

SINGAPORE: Oil prices slid on Wednesday but gasoline spiked to their highest since July 2015 as flooding and storm damage in the wake of Hurricane Harvey has shut one-fifth of U.S. oil refineries, crimping demand for crude but raising fears of a fuel shortage, reported Reuters. U.S. West Texas Intermediate (WTI) crude futures CLc1 were…

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August 30, 2017


Prices of fruits, vegetables remain stable

ISLAMABAD: The prices of fruits and vegetables overall remained stable after minor fluctuation in price of some items in the federal capital here on Friday. According to the Islamabad Market Committee price list issued here, the prices of various fruits and vegetables showed no major difference from the price list of the previous week. According…

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July 21, 2017


Closing Rates of PSX

KARACHI: Following were the Closing Rates of shares at Pakistan Stock Exchange Limited (PSX) issued here on Wednesday.

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May 4, 2017


Oil falls on bulging US crude inventories, record global supplies

SINGAPORE: Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC’s ability to cut supplies and tighten the market.

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April 26, 2017


Oil dives, sending US crude below $50 for first time in two weeks

NEW YORK: Oil prices tumbled more than 2 percent on Friday, notching the biggest weekly decline in more than a month on mounting evidence that U.S. production and inventory growth were offsetting OPEC’s attempts to reduce the global crude glut.

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April 22, 2017


New airline SalamAir takes off

MUSCAT: Omani budget carrier SalamAir launched operations on Monday, becoming the latest Gulf airline competing for the region’s low-cost travel market. The airline said it began operations with a domestic flight from the southwestern city of Salalah to the capital Muscat. In addition to the domestic market, SalamAir will fly to Dubai, as well as…

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January 30, 2017


12 dead in Berlin Christmas market: what we know so far

BERLIN: A lorry ploughed into a busy Berlin Christmas market on Monday evening in a suspected attack that left at least 12 people dead and dozens more injured. Here is what we know of the event reminiscent of the horrific scenes in July when a truck drove into a crowd in the French Riviera city…

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December 20, 2016


US is Pakistan’s largest bilateral export market: David Hale

KARACHI: American Ambassador David Hale rings the bell to open trading at the Pakistan Stock Exchange. According to the U.S. Census Bureau, in 2015, the United States was Pakistan’s largest bilateral export market, and Pakistan enjoyed a nearly $2 billion trade surplus.  Total trade was worth $5.5 billion. – Samaa

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July 26, 2016


Pakistani stocks hit record after MSCI upgrade

KARACHI: Pakistani stocks hit a record high Wednesday after US index firm MSCI upgraded the country to “emerging market” status on its influential global equities index for the first time since 2008. The benchmark Pakistan Stock Exchange gained 1,003 points, or 2.7 percent, to touch a high of 38,520 points by the close of trade….

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June 15, 2016


Oil producers meet amid Saudi-Iran row over output freeze

DOHA, Qatar: World oil producers gather in Qatar Sunday to negotiate an output freeze to boost prices as a row between regional heavyweights Saudi Arabia and Iran threatened to overshadow the talks. Influential Saudi deputy crown prince Mohamed bin Salman reiterated in a new interview with Bloomberg published on Saturday that the kingdom will not…

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April 17, 2016


iPhone sales to fall for 1st time

SAN FRANCISCO, United States: Apple raised the specter of the end of a technological era after reporting Tuesday the slowest growth sales ever of its market-leading, life-changing iPhone and warning it expects worse to come. The California technology colossus said it expects to see its first decline in iPhone sales in the current quarter, when…

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January 27, 2016