SINGAPORE: Oil prices rose in Asian trade on Tuesday as bullish US manufacturing data combined with gains in Asian equities markets to push the market up, analysts said.
New York’’s main futures contract, light sweet crude for March delivery, broke past the 75 dollar-level in morning trade, gaining 58 cents to 75.01 dollars a barrel. ...
Read more »
Latest Story
Oil up in Asian trade
Obama’’s 2010 budget deficit soars to record $1.56 trln
WASHINGTON: US President Barack Obama on Monday projected the U.S. budget deficit would peak at a fresh record in 2010 before easing as he pushes for fiscal responsibility while battling double-digit unemployment.
Dubbed an old-style liberal tax-and-spender by his Republican opponents, Obama is under pressure...
Read more »
Dollar surges to record level of over Rs85
KARACHI: Dollar climbed to a record level at over Rs85 in the Interbank here on Monday.
According to forex market dealers, demand for dollar witnessed a substantial rise in Interbank market today, as banks purchased around 300 million dollars. This, at one stage, pushed...
Read more »
Stock market begins week with selling
KARACHI: The local equities market began the week with selling, as the benchmark KSE-100 Index slipped 23 points to close at 9,591 on Monday.
The investors, adopting caution in view of the increasing value of dollar, preferred to off-load their holdings.
The trade volume was...
Read more »
Oil prices turn higher
LONDON: Oil prices climbed on Monday, reversing earlier losses caused by worries over weak demand, analysts said.
New York’’s main futures contract, light sweet crude for delivery in March, gained 30 cents to 73.19 dollars a barrel at about 1000 GMT after dipping by a...
Read more »
POL prices hike could affect export target
KARACHI: The increase in petroleum product prices and current interest rate could affect the export target.
President of Pakistan Chamber of Commerce and Industries Sultan Chawala told Geo News that government has retained the interest rate in monetary policy whereas increment in oil prices...
Read more »
Govt charges 39pc tax on a liter of petrol
KARACHI: The government is receiving a juggernaut of 39 percent tax on a liter of petrol that becomes Rs19.82/lit.
The government yesterday rocketed the petrol price by Rs6.10 to Rs71.21/lit.
In December 2009, the ex-factory price of petrol was Rs42.72/lit tagged with Rs4.42 as transportation charges,...
Read more »
Asia is now world’’s biggest air travel market: IATA
SINGAPORE: The Asia-Pacific region has overtaken North America as the world’’s largest air travel market with 647 million passengers in 2009, the International Air Transport Association (IATA) said Monday.
By contrast, 638 million people flew on commercial flights in North America last year,...
Read more »
IMF plans $100b fund to counter climate impact
DAVOS: The International Monetary Fund is planning a 100 billion dollar fund to help countries mitigate the effects of climate change, the agency’’s head said.
“The new growth model will be low carbon,” Dominique Strauss-Kahn, managing director of the IMF, told political and business leaders...
Read more »