Business News
Euro will be dead in five years: experts
LONDON: The euro will have broken up during next five years, according to the bulk of economists taking part in a wide-ranging economic survey for a local newspaper. The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according... »
Govt adds fuel to fury with gas tariffs hike
ISLAMABAD: The government has announced imposition of tax of Rs.5 per 10 cubic feet on gas, which will add average Rs.10 in the bills. »
Gold slips but off 1-week low; euro-gold hits record
SINGAPORE: Gold extended losses on Monday after falling to its weakest in more than a week the previous session, but bullion priced in euro struck another record as the single currency slumped. Spot gold was at $1,215.95 an ounce by 0044 GMT, down $2.05 from New York''s notional close on Friday, when it hit... »
Oil prices fall below 70 dollars
SINGAPORE: Oil fell below 70 dollars in Asian trade Monday as a weak US jobs report continued to hurt investor sentiment, analysts said. New York''s main futures contract, light sweet crude for delivery in July, fell 1.82 dollars to 69.69 dollars a barrel in morning trade. Brent North Sea crude for July delivery shed... »
Euro falls broadly, 4-year low vs dlr
TOKYO: The euro fell broadly on Monday, hitting its lowest in more than four years against the dollar with investors increasingly nervous about more slides in the currency after a clear break below a support point on charts. Market players said the euro''s close on Friday below a 50 percent retracement of its 2000-2008... »
Iran to approve Pakistan gas pipeline deal this week
TEHRAN: Iran hopes to finalise a deal this week for a much-delayed pipeline to export natural gas to Pakistan by 2015, an energy official said on Sunday. "The $7-billion Iran-Pakistan gas pipeline contract will be finalised this week, and based on the approved time framework the export of gas to Pakistan will be launched... »
Budget contains correct details, asserts Sheikh
ISLAMABAD: Newly-inducted Finance Minister Abdul Hafeez Sheikh said nothing was concealed in the budget and the effort was made to present the correct information in the budget, Geo News reported Sunday. »
Federal Budget with Rs.679 bln deficit presented
ISLAMABAD: Finance Advisor Dr. Abdul Hafeez Shaikh presented Federal Budget for 2010-11 with a total outlay of Rs3.259 trillion with an overall deficit of Rs.679 billion before the parliament on Saturday »
Federal employees’ salaries raised by 50% in budget
ISLAMABAD: An unprecedented increase of 50 per cent in salaries of government employees and 15 to 20 per cent raise in pension is the salient features of the Federal Budget 2010-11. The budget also envisaged some new tax exemptions on food items besides providing relief in health and education sectors »
Federal employees’ salaries raised by 50% in budget
ISLAMABAD: An unprecedented increase of 50 per cent in salaries of government employees and 15 to 20 per cent raise in pension is the salient features of the Federal Budget 2010-11. »
