Business News
Browse all articles and features filed under the News desk.
Albert Einstein finally goes online
At speeds even he could barely imagine, Albert Einstein's private papers and innermost thoughts will soon be available online, from a rare scribble of "E=mc2" in his own hand, to political pipe-dreams and secret love letters to his mistress. Fifty-seven years after the Nobel Priz
Euro rangebound for lack of trading pegs
The euro moved narrowly in Asia on Wednesday as investors looked for fresh trading pegs. The euro bought $1.3324 and 110.64 yen, compared with $1.3315 and 110.71 yen in New York late Tuesday. The dollar edged down to 82.97 yen from 83.15 yen in New York as Japanese exporters move
Two major US oil cos interested in TAPI pipeline
Two major US oil companies are interested in a four-country pipeline that would ship gas worth billions of dollars from Turkmenistan to India and Pakistan, a US government official said on Friday. The building of the US-backed "TAPI" pipeline through some of Afghanistan's most vo
Yen firms on Japan trade surplus
The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade surplus in February, offering some hope for its plodding economy. The dollar eased to 83.13 yen before rebounding to 83.37 yen in Tokyo, still below 83.87 yen in New York late
Lentils prices up by Rs3 to 29 at Utility Stores
Prices of lentils have been increased by Rs3 to Rs29 per kilogram at Utility Stores across the country, Geo News reported Monday. The raise was made by the administration of Utility Stores, sources said. Daal Chana witnessed maximum rise of Rs29 per kg to 107 from 78; Daal Moong
Rupee ends weaker at 90.73/80 to dollar
In the currency market, the rupee ended weaker at 90.73/80 to the dollar compared to its close of 90.68/75 on Wednesday due to increased import payments, especially for oil. Dealers expect some pressure on the rupee because of rising global oil prices. Oil was trading close to $1
Yen firms against dollar and euro in Asia
The yen edged up against the dollar and the euro in Asian trade Tuesday as investors adjusted their positions. The dollar was trading at 81.42 yen in Tokyo morning trade, down from 81.53 yen in New York late Monday. The euro was changing hands at $1.3223 and at 107.58 yen compare
Forex reserves stand at $16424.5 million: SBP
Pakistan's total liquid foreign reserves stood at $16,424.5 million on February 24, 2012, State Bank of Pakistan said Thursday. According to break-up, foreign reserves held by SBP were $12,062.3 million and net foreign reserves held by banks (other than SBP) $4,362.2 million.
Oil prices higher on positive US data, Iran concerns
Oil prices edged higher in Asian trade Thursday, supported by upbeat US economic data and fears over supply disruptions in the Middle East, analysts said. New York's main contract, light sweet crude for delivery in April, gained one cent to $107.08 in morning trade and Brent Nort
Euro up on new loan pledges to eurozone banks
The euro edged up in Asia on Wednesday, supported by positive expectations over the European Central Bank's second batch of low-interest loans to eurozone banks. The single currency fetched $1.3482 in Tokyo afternoon trade, compared with $1.3466 in New York late Tuesday. Against
January: Economic indicators blink green
The National Price Monitoring Committee (NPMC) was informed here on Friday that the Consumer Price Index (CPI), which shows the general price trend in the country, decreased and recorded at 10.1% during last month. The NPMC, which met Secretary Finance Abdul Wajid Rana in the cha
Euro up in Asia after German business survey
The euro firmed against major currencies in Asian trade Friday thanks to an upbeat German business confidence survey and improving investor sentiment about Greece. The common currency was trading at $1.3374 and 107.12 yen in Tokyo trade, compared with $1.3369 and 106.94 late Thur
Rupee ends firmer at 90.95/79 to dollar
In the currency market, the rupee ended firmer at 90.75/79 to the dollar, compared with Tuesday's close of 90.86/91 amid lack of import payments. But dealers expect pressure on the local unit to continue due to rising international oil prices, which hit a nine-month high on Tuesd
Euro flat after easing from Greek bailout rally
The euro was flat against the dollar in Asia Wednesday as enthusiasm over a eurozone agreement on a bailout for Greece faded due to concerns more must be done to get the country back on track. The euro faces downward risks as investors are likely to start adjusting their position
Oil price down in Asia on profit-taking
Oil was down in Asian trade Thursday with traders reaping profits after prices jumped more than one percent overnight, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for March delivery, fell 15 cents to $101.65 per barrel and Brent North
Euro falls on debt woes, dollar up against yen
The euro fell against the dollar in Asia on Wednesday amid worries over Europe's debt woes while the greenback hit a 15-week high against the yen after the Bank of Japan's surprise credit easing. The euro slipped to $1.3113 in Tokyo morning trade from $1.3134 late Tuesday in New
Local gold up at Rs50,228
Gold improved by Rs86 to close at Rs 50,228 per 10 grams in the local market Monday as its international price recovered to $1,729 an ounce, market sources said. According to Karachi Saraf Association official, tola (11.664 grams) price also increased by Rs 100 to close at Rs 58,
Euro trade cautious ahead of promised Greek deal
Trade in the euro was cautious in Asia Thursday with the market focused on Greece's efforts to reach a deal on debt restructuring. The single unit stood at $1.3248 and 102.22 yen, from $1.3260 and 102.14 yen. The dollar was at 77.15 yen, edging up from 77.03 yen in New York. "It'
Euro eases against dollar, yen in Asia
The euro eased against major currencies in Asian trade Tuesday as investors monitored events in Europe, dealers said. The euro bought $1.3015 and 100.20 yen in early Asian trade, easing from $1.3027 and 100.31 yen in New York late Monday. The dollar was at 77.00 yen, almost flat
Euro edges down after mixed Australian jobs data
The euro eased against the dollar in Asia on Thursday as mixed Australian jobs data rekindled risk aversion despite hopes the IMF would raise more money to help fight the European debt crisis. The euro edged down to $1.2849 and 98.59 yen in Tokyo morning trade from $1.2862 and 98