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Oil slips after four-day rally

Oil slips after four-day rally

SINGAPORE: Oil prices fell on Wednesday as renewed concerns over global demand and high stock levels halted a rally that pushed up prices by about 19 percent over the past four sessions. The recent rebound was driven by hopes that ...

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Oil prices down in Asian trade

Oil prices down in Asian trade

SINGAPORE: Oil priced fell in Asia Monday as dealers took profits from steep gains in volatile month-end trading last week, while a US refinery strike also weighed, analysts said. US benchmark West Texas Intermediate for March delivery fell $1.17 to ...

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PM announces cut in petrol price to Rs70.29/litre

PM announces cut in petrol price to Rs70.29/litre

LAHORE: Prime Minister Nawaz Sharif on Saturday announced significant reduction in domestic prices of various petroleum products in the wake of falling international prices. Talking to media here, he said that the federal government has decided to cut petrol price ...

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Banks asked to increase private sector lending

Banks asked to increase private sector lending

KARACHI: Governor State Bank Ashraf Mahmood Wathra has stressed upon the banks to focus on private sector lending and deposit mobilization. In this context he said that the average spread of all banks continue to remain high and should be ...

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OGRA refuses to accept responsibility of petrol crisis

OGRA refuses to accept responsibility of petrol crisis

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has refused to accept responsibility of ongoing petrol crisis in Punjab province. According to the sources, a post of member oil in OGRA is vacant for the past six months which caused lack ...

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Asian shares mostly higher, China retreats

Asian shares mostly higher, China retreats

TOKYO: Most Asian share markets followed Wall Street higher on Monday, though investors were wary of being disappointed yet again by economic data from China and policy stimulus in the euro zone. Adding to the air of caution was a ...

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Asia’s big 3 demons: Debt, deflation, demographics

Asia’s big 3 demons: Debt, deflation, demographics

MUMBAI: Asia is battling not one but three demons. The unholy trinity of debt, deflation and demographics threatens to sap the region’s growth potential. Fending off the challenge requires central banks to cut borrowing costs. But they are reluctant to ...

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China growth hit 24-year low in 2014: AFP survey

China growth hit 24-year low in 2014: AFP survey

BEIJING: China’s annual GDP growth slowed to its weakest rate in more than two decades in 2014, according to an AFP survey, projecting further deceleration in the world’s second-largest economy this year. The median forecast in a poll of 15 ...

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80pc of CNG outlets remain shut in Lahore

80pc of CNG outlets remain shut in Lahore

LAHORE: Reopening of CNG stations in Lahore following the petrol shortage could not help in providing relief to the masses as 80 percent of the gas stations remained shut in the city. Over 100 CNG stations reopened in the provincial ...

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PSO gears up to address petrol shortage

PSO gears up to address petrol shortage

KARACHI: Pakistan State Oil (PSO) has ordered tonnes of petrol from across the country to resolve the shortage in Punjab. Spokesperson of Oil Tankers Contracters Association has said that PSO has ordered 50,000 metric tonnes of petrol from Lahore, Multan, ...

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