peshawar - President of Khyber Pakhtunkhwa Chambers of Commerce & Industry Dr Muhammad Yousaf Sarwar has categorically rejected increase in electricity prices under the head of fuel adjustment by National Electric Power Regulatory Authority (NEPRA).In a press statement issued here on Saturday, ...

UNITED NATIONS - The United Nations Wednesday warned that economic losses from disasters have spun out of control and called on the world’s business community to incorporate disaster risk management to their investment strategies to avoid further losses.“Governments bear the ...

LONDON -Global oil prices slid on Wednesday as traders awaited the latest inventories report from leading world consumer the United States. In London early afternoon deals, Brent North Sea crude for delivery in June dipped 32 cents to $102.28 a barrel.New York's main contract, West Texas ...

islamabad - The performance of Pakistan International Airlines (PIA) is improving which is evident from reduction in its losses during last six months by Rs 1 billion per month on average.“This was possible due strict financial monitoring and adoption of effective cost saving measures,” ...

ISLAMABAD : The Pakistan Economy Watch (PEW) of Sunday said that electric power transmission and distribution losses are increasing with an amazing speed compromising economic growth.  Pakistan is among top ten countries in the electric transmission and distribution (T&D) losses which has ...

LONDON: Gold rebounded above $1,400 an ounce on Friday as strong buying of coins and bars continued, primarily in Asia, but prices were still on course for a fourth week of losses after a brutal sell-off. Analysts said more weakness could be on the cards, including further outflows from ...

The seven industrial zones of the metropolis face losses of billion of rupees due to unjustified loadshedding of Karachi Electric Supply Company Limited. Continuation of powerless environment brings the industries at halt where most of them got shut down and many of them would be closed shortly. ...

LAHORE - Pak-UK Chamber of Commerce & Industry President Razi Khan has urged upon the authorities to reduce 44 per cent losses and thefts in the electricity being produced in the country. The government is required to follow a strict policy to curb this menace and also benefit from Independent ...

Fire gutted a cloth market in a trade centre of the provincial capital early Saturday morning causing millions of rupee losses.According to details, fire caused due to unknown reasons erupted in a three-storey building located in Azam cloth market.Fire brigades and rescue teams reached the scene ...

LAHORE – Valuables worth hundreds of thousands of rupees were gutted when fire erupted in a plastic factory located in Badamibagh Area on Sunday. According to details, fire erupted in a plastic factory located on Din Road owned by one Abdul Razzaq. Flames of fire engulfed the whole plastic ...

SRINAGAR  - The LoC traders from both sides of the dividing line have suffered losses to the tune of Rs 40 crores due the 3-week strike of the traders from Azad Kashmir.The AJK traders suspended strike nearly three weeks ago over the alleged bullying the custom officials.The LoC traders said ...

ATHENS (AFP) - With a history and a star-studded guest list going back to 1874, the Grande Bretagne hotel in Athens has for decades held a front-row seat on the tumultuous events that shaped modern Greece. The five-star hotel on central Syntagma Square opposite the Parliament building has seen the ...

ISLAMABAD - Prime Minister Syed Yousuf Raza Gilani has extended his heartfelt sympathies to his Turkish counterpart Recep Tayyib Erdogan over the loss of lives and damages due to earthquake that struck the city of Van and surrounding areas a couple of days back. In his letter to the Turkish ...

ZURICH (Reuters) - Swiss bank UBS on Sunday increased the amount it said it had lost on rogue equity trades to $2.3 billion and alleged a trader concealed his risky deals by creating fictitious hedging positions in internal systems. UBS stunned markets on Thursday when it announced unauthorised ...

LAHORE Though the incumbent government is trying hard to arrest power issue across the country in a bid to give relief to the masses but traditional red-tapism and other hurdles have not only delayed the two power generating projects for further two years but has also increased its overall ...

ISLAMABAD (Online) - The governments alleged negligence towards the enforcement of anti-smuggling laws can be judged with the fact that every year 2 to 3 billion cigarette sticks are being smuggled into Pakistan from Afghanistan and Iran that causes Rs 1.5 billion per annum to Pakistan. According ...

PESHAWAR (APP) - Peshawar Electricity Supply Company (PESCO) Chief Executive Mohammad Wali has directed the field officers to make all-out efforts for reduction in line loses and try their best to prevent fatal accidents, saying technical staff would be provided all safety instruments. He issued ...

ISLAMABAD (APP) - The Sui Southern Gas Company Limited (SSGC) is suffering line losses of about 400 mmcfd gas, having potential to generate 2000MW of electricity. According to official source, 50 percent of the losses are due to leakages while the rest can be attributed to slow meters, theft and ...

BUREWALA - The negotiations of the Vehari Extra Assistant Director of Agriculture with local commission agents of Burewala grain markets could not be held due to irresponsible behaviour of the Burewala Market Committee administrator here on Monday. The two grain markets of subdivision including ...

LAHORE The Pakistan International Airlines (PIA) accumulated losses have crossed the mark of Rs92 billion by 2010, sources said while commenting on the airlines audited accounts for the year ended December 31, 2010. Sources said that PIAs downhill slide into heavy losses continued during 2010 as ...

NEW YORK (AFP) - The euro stabilized against the dollar on Friday after a week of heavy losses prompted by concerns over Irelands debt. The euro edged up to 1.3696 dollars by 2200 GMT from 1.3666 late on Thursday while the dollar gained slightly against the Japanese currency to 82.54 yen from ...

LAHORE - Half-yearly accounts of PIA for January to June 2010, signed by auditors AF Ferguson and Yousuf Adil Saleem, have declared in their report available on PIA official website that The Corporation incurred a net loss of Rs 6.901 billion resulting in accumulated losses of Rs83.333 billion as ...

LAHORE - Energy security is as vital as food and territorial security of the country. We will have to gird up our loins and work selflessly to ensure the success of the energy reforms initiated by the Government to salvage the country out of the present energy crisis. This was stated by Rasul Khan ...

KARACHI - The Oil and Gas Regulatory Authority (OGRA) may relax Unaccounted for Gas (UFG) losses for the two gas marketing companies, SNGPL and SSGC to 7 per cent with an aim to improve their earnings, industry sources told TheNation. Since there is no clue what the final outcome regarding the ...

KARACHI - The State Bank of Pakistan has estimated flood-driven initial losses to the banking system under non-performing loans at Rs54 billion, of which Rs34 billion credit damages have been evaluated to the cropping sector of the country. The SBP has also predicted that due to increasing credit ...

KARACHI - Sindh Cabinet Saturday decided to give Rs5000 as Eid relief to the flood affectees, who have been registered in the flood relief camps. The provincial cabinet also gave approval of an official data of financial losses of Rs447.8 billion, with over 7 million people displaced due to the ...

MULTAN The worst-ever flood of the countrys history has so far caused loss worth over Rs 152.21 billion to Punjab, more than one fourth of provinces total budget, discloses an initial estimate made by the Government of Punjab. The swollen rivers have affected the lives of at least 8.20 million ...

KARACHI - The size of the federal development budget for the current fiscal year 2010-11 seems to be reduced owing to counterbalance the destruction and losses caused by the recent heavy floods in certain parts of the country. The economic cost of this ongoing havoc would be paid by the ...

NEW YORK (AFP) - Top US bank Morgan Stanley on Wednesday reported earnings of 1.96 billion dollars in the second quarter, reversing losses of a year ago. Better performance at the firms trading business helped erase a loss of 149 million dollars in the same period last year and build on profits ...

ISLAMABAD At a time when the country is facing severe electricity crisis, the massive corrupt practices, unearthed in the affairs of Multan Electricity Power Company Limited (MEPCO), have allegedly resulted in the losses worth Rs3,300.505 million (Rs3.30 billion) to the national ...