WASHINGTON : The IMF assailed US government spending cuts as “excessively rapid and ill-designed”  as it cut the economy’s growth forecast for 2014. Warning that the country still faces downside risks to its recovery, the IMF cheered the Federal Reserve’s stimulus ...

LAHORE - The Finance Ministry on Friday released Rs5 billion to the Ministry of Water and Power for fuel supply to power plants; the consignment is expected to reach here on Sunday. With the release of Rs5 billion, only two to three hours of relief from electricity cuts is to be seen in the weeks ...

HELSINKI - In the wake of mobile giant Nokia's spectacular fall, another pillar of the Finnish economy is struggling to adapt to the digital age: the paper industry.As the distribution of everything from magazines to airline tickets shifts online, major Finnish paper suppliers are scrambling to ...

lahore - The severe power breakdowns and continued gas suspension to industry have reduced the rice milling capacity to 50 per cent thus reducing availability of export quality rice.“Unavailability of gas by the SNGPL is resulting in late drying of paddy and unless paddy is not dried, millers ...

KARACHI : Routine life and business activities have been badly affected in the city because of unscheduled and prolonged power load shedding. Several areas of the city face 10-12 hours long power failures. KESC had alerted citizens about the inevitable increase in the duration of loadshedding in ...

washington - President Barack Obama on Saturday called on the US Congress to end the “reckless” and “dumb” budget cuts known as the sequester, and to adopt a plan of “smarter” cuts to fuel economic growth.Obama’s weekly address comes after Congress on ...

lisbon -  The Portuguese government announced on Thursday budget cuts worth around 600 million euros ($780 million) to meet targets it has set with international creditors, following a rejection of previously proposed austerity measures by the country's constitutional court."The cabinet ...

ISLAMABAD - Noticing frequent media appearances of its officials outside their authority and despite order for not doing so, the Election Commission of Pakistan (ECP) on Tuesday appeared to have cut down to size its third-tier management, with the issuance of new directives instructing the ECP ...

WASHINGTON  - The Pentagon laid out a budget plan Wednesday that holds military spending steady next year without taking into account the cost of the war in Afghanistan or looming automatic budget cuts.President Barack Obama's request of $526.6 billion for the Defence Department keeps the base ...

NOORPUR THAL - The people of Thal have caught in the grip of worst electricity loadshedding with the advent of summer season. Fluctuation and voltage variations are problems of the people nowadays. Particularly, sick, old and children are the hardest hit and economic life is greatly disturbed. ...

KARACHI  - Frequent electricity suspensions, old wires, excessive load and kunda culture have baffled power consumers at Sachal Goth, forcing people to brave sleepless nights.The sprawling suburban area braves three routine load shedding spells more than 2 hours each; however, many blocks of ...

WASHINGTON - President Barack Obama will make key concessions to Republican foes next week when he unveils his US budget that proposes cuts to cherished entitlement programs, the White House said Friday.Obama’s fiscal blueprint slashes the deficit by $1.8 trillion over 10 years, in what a ...

KARACHI  - The Sui Southern Gas Company has cut off hundreds of gas connections of the defaulting consumers. In a statement issued here on Saturday, to recover company’s massive outstanding dues of Rs79 billion, the SSGC initiated stern action against defaulting customers by ...

KARACHI - Karachi Water and Sewerage Board Revenue Generation Cell’s special team has started disconnecting water and sewerage connections of 12 multi-storey buildings in Gulshan-e-Iqbal and Jamshed Town and also confiscated their water motors. The spokesman of the organisation said the ...

The State Bank of Pakistan (SBP) on Friday announced the monetary policy for the next two months and decided to reduce the interest rate by 50 basis points bringing it to 10 per cent.The State Bank of Pakistan (SBP) released its monetary policy statement for the subsequent two months on October.On ...

TOKYO - Ratings agency Standard & Poor's on Tuesday lowered its long-term credit ratings on Sony by one notch, citing a slow recovery of its mainstay consumer electronics businesses.The agency downgraded its long-term corporate credit ratings on the Japanese electronics giant and its ...

ISLAMABAD - More is better when it comes to drinking coffee to ward off the risk of deadly prostate cancer, according to a major study released by researchers.Men who drank six or more cups per day had a 60 percent lower risk of developing the most lethal type of prostate cancer and a 20 percent ...

LAHORE - The Lahore Chamber of Commerce and Industry Tuesday took a strong exception to the government for 10 to 12 hours unscheduled power cuts and its failure to honour its commitment regarding 2-day weekly provision of gas to the industry because of which the industrial production and trading ...

BEIJING  - The Chinese central bank said Saturday that it would cut commercial banks’ reserve requirement ratio by 0.50 percentage points from February 24 to ease restrictions on lending, state media reported.The People’s Bank of China last announced a cut in the amount of funds ...

LONDON - Up to 2,900 members of the British army including 400 Gurkhas will lose their jobs along with 1,000 air force personnel in the latest round of defence cuts, the government said Tuesday. Around 300 members of the Royal Navy will also be axed. Many senior army posts will be cut, including ...

FAISALABAD - Pakistani textile exporters attracted lukewarm response at Heimtextil exhibition in Germany wherein foreign buyers were seen reluctant to place export orders because of delays on time materialisation of previous commitments. This was stated by Pakistan Textile Exporters Association ...

SIALKOT - The perturbed Sialkot business community would close down all the factories in the district from Monday, Januray 9, 2012 and take to the street against power and gas outages, a traders’ representative announced here on Friday.Sialkot Chamber of Commerce and Industry President Naeem ...

SADIQABAD - The district police have registered a case against dozens of CNG and transport owners and workers including their association leaders for blocking traffic, delivering instigative speeches against the government at Adda Khanpur, tehsil Rahim Yar Khan. The case was registered against All ...

TOBA TEK SINGH - If Jamaat-e-Islami comes into power it will end power loadshedding within six months, claimed JI PP 86 would-be candidate Dr Zahid Sattar in a meeting here on Monday. He said that the JI would also control price hike. JI tehsel Ameer Sanaullah Mufti, Dr Muhammad Imran and Mian ...

JHANG - Unscheduled loadshedding for more than 16 hours has badly disturbed the civic life and shocked the people miserably here in the city. While the people living in rural areas are facing great problems due to 18 hours power cut a day. It has not only turned hundreds of labourers of power looms ...

KHANEWAL - Unscheduled gas and electricity loadshedding has badly affected the life of citizens as the power outages time has been increased to more than 12 hours in a day. According to details, in throughout the district Mepco and Sui Northern Gas Ltd are in a ‘race’ with each other to ...

ISLAMABAD (APP) - Under the special directives of Senior Federal Minister for Industries Ch.Pervaiz Ellahi, the Utility Stores Corporation (USC) has further decreased the prices of sugar from Rs.52 per kg to Rs.42 per kg, giving relief of Rs 10 per kg to its consumers.“Decision to this effect ...

FAISALABAD - Textile sector has totally been collapsed due to non-availability of natural gas as the notices of gas closure for indefinite period have been issued to the industrial sector.Pakistan Textile Exporters Association Chairman Rana Arif Tauseef said this while addressing a press conference ...

KHARIAN CANTT - The prolonged power suspension led to water shortage especially in urban areas, adding to the miseries of people on the Quaid-e-Azam’s birth anniversary. The duration of power outages exceeded 12 hours a day. The situation has also worsened and paralyzed the routine life of ...

LAHORE – On the 135th birth anniversary of Quaid-e-Azam Muhammad Ali Jinnah, a special cake cutting ceremony was held at Madar-e-Millat Park, Aiwan-e-Karkunan Tehreek-e-Pakistan on Sunday. The programme was organised by the Nazaria Pakistan Trust in collaboration with Tehreek-e-Pakistan ...