March 21, 2010
LONDON – British Airways cabin crews walked off the job for a second day Sunday, upsetting travel plans for scores of customers, but the airline said its contingency plans were working well and more planes were taking off than expected.
The airline — locked in a bitter dispute with workers over a pay freeze and changing working conditions — said it was able to add several extra flights because many crew members ignored the three-day strike call.
"Our contingency plans are continuing to work well on Sunday morning around the world," it said in a statement.
Money
March 21, 2010
KARACHI: Mobile phones worth $103 million were imported into the country during the first eight months of the current fiscal year, Geo News reported Sunday.
The mobile phones imports are three percent in excess of that of last fiscal year.
According to statistics issued by the State Bank of Pakistan (SBP), machinery and products used in telecom sector worth at least $476.3 million were imported during the first eight months of the current fiscal year, which is 7 percent less than that in the corresponding period last year.
Money
March 20, 2010
PESHAWAR: Minister of State and Chairman Board of Investment Saleem H. Mandviwalla has said that a new Special Economic Zone (SEZ) Act is being introduced according to which new industrial zones would be exempted from tax for the period of ten years.
He was addressing the traders at The Sarhad Chamber of Commerce and Industry (SCCI) today.
New act is being introduced to boost investment in the country, he added. The act would be presented in next federal cabinet meeting before tabling in the Parliament.
Money
March 20, 2010
HONG KONG: A bout of bargain-hunting and a stronger dollar boosted sentiment in Asia on Friday with stock markets higher during a quiet trading day.
The greenback was given a lift against the troubled euro in New York on Thursday as dealers ran for the safe haven unit after Athens warned it might go to the International Monetary Fund if European partners failed to help.
And concerns that China could raise interest rates were eased slightly after the country's central bank drained billions of dollars out of the financial system.
Money
March 20, 2010
KARACHI: Slow trade activities were witnessed at Karachi Stock Exchange (KSE) Friday with the 100 share Index inching up by 7 points to finish at 10,001.
The market opened with positive numbers and the Index, at one stage, was seen at the level of 10,047 points. But selling came in the second session as the shareholders opted for profit taking particularly in the banking sector, switching the index into the negative mode.
Later recovery in the final hour helped the Index close 7 points up at the current level.
The trade volume was recorded at 120 million shares.
Money
March 20, 2010
ISLAMABAD: The fifth tranche of IMF loan may suffer delay of one week because Pakistan has failed to sign the letter of intent since its negotiations with the fund held on February 15.
According to sources of Finance Ministry, the negotiations between Pakistan and IMF were held on February 15 in connection with the 5th tranche of the loan and the 4th quarterly review.
The letter of intent mentioning finalization of the above matters was to be signed and sent to IMF by the start of March.
Money
March 20, 2010
ISLAMABAD: Newly appointed Finance Advisor Dr. Abdul Hafeez said Friday such financial planning would be evolved which will help boost economy and improve the living standards of people, Geo news reported.
This he said talking to Geo news after calling on PM Yusuf Raza Gilani here in Islamabad.
Detailing on the meeting, he said we discussed financial policies of government and ways to bring improvement into them.
PM hoped with the appointment if Abdul Hafeez as financial advisor growth in investment sector will be seen and the trade activities will get a boost.
Money
March 20, 2010
ISLAMABAD: A meeting of the Cabinet Committee on Energy Crisis (CCEC) was held here Friday under the chairmanship of Minister for Water and Power Raja Pervaiz Ashraf to discuss the current power situation and related matters in the country.
Ashraf said the government was taking all possible measures to reduce the gap between demand and supply.
He said that new IPPs (Independent Power Plants) and rental power plants would add to generation which would help bring down the duration of load-shedding in peak summer.
Money
March 20, 2010
LAHORE: The country is facing severe load-shedding, causing hardship to the people besides jamming the wheel of industry.
The situation may lead to contribute towards the problem unemployment.
PEPCO sources said the demand for electricity has exceeded 13500 MW with the soaring temperature against the present generation of 9000 MW, resulting in a supply and demand gap of 4500 MW.
Money
March 20, 2010
LAHORE: The country is facing severe load-shedding, causing hardship to the people besides jamming the wheel of industry.
The situation may lead to contribute towards the problem unemployment.
PEPCO sources said the demand for electricity has exceeded 13500 MW with the soaring temperature against the present generation of 9000 MW, resulting in a supply and demand gap of 4500 MW.
Money
