ADB may double support for Pakistan Will finance Diamer-Bhasha Dam project
Vice President Asian Development Bank (ADB), Xiaoyu Zhao, on Thursday said the bank may double its lending portfolio to Pakistan after finalisation of general capital increases (GCI) with member states. Talking to media persons after meeting with Prime Minister Syed Yousuf Raza Gilani here at the PM's House, he said the bank has very active portfolio in Pakistan, adding that the bank was looking forward for enhancing cooperation in various fields more... (FD)

Pakistan's foreign exchange reserves fall to $10.16 billion
Foreign exchange reserves fell by $210 million to $10.16 billion in the week that ended on February 21, SBP said on Thursday. The State Bank of Pakistan's reserves were $6.73 billion from $6.91 billion a week earlier, while reserves held by commercial banks were $3.43 billion from $3.46 billion, the bank said more... (BR)

Govt approves mark-up subsidy of 3% to spinning sector for 2-year
The government has approved mark-up subsidy of 3 percent to spinning sector for two years, starting from July 1, 2007 to June 30, 2009, Federal Minister for Textile Industry, Rana Farooq Saeed Khan said more... (DT)

Violent protests in Punjab deepen political turmoil
A complete shutter-down was observed in Islamabad and Rawalpindi amid skirmishes between demonstrators and police in the aftermath of the disqualification verdict against Nawaz Sharif and Shahbaz Sharif by the Supreme Court and angry PML-N workers burnt vehicles and destroyed shops and buildings more... (BR)

PM calls cabinet meeting to discuss political situation
Prime Minister Yousuf Raza Gilani has summoned a meeting of the federal cabinet today (Friday) to discuss the country’s overall political situation more... (DT)

Qureshi raises drones issue with US leaders
Pakistan has drawn the Obama administration's attention to the issue of US drone attacks, as its foreign minister on Wednesday urged a review of the strategy that is "alienating the people" in counteraction to Islamabad's efforts to rally the people behind the fight against violent extremism more... (BR)

RBS to sell its Pakistan Operations
The Royal Bank of Scotland on Thursday announced its intention to explore new ownership for the retail and commercial, GBM and GTS business in Pakistan. "There are several reasons why this decision has been made," the bank, in an information sent to Karachi Stock Exchange, said more... (BR)

E&P policy to focus on boosting gas production
A separate policy for dormant fields, tight gas and un-conventional hydrocarbon reservoirs would be approved to boost the gas exploration and production in the country, a senior government official told Daily Times on Thursday more... (DT)

Bosicor Refinery's equity breaks down on big lossesM Yasir Yousuf
Bosicor Refinery Ltd (BRL) announced its half-year result of the financial year 2008-09- for the period ended December 31, 2008 (1HFY09) - posting a huge loss after tax of Rs7.918 billion translating into a loss per share (LPS) of Rs20.19. The company, during the first half of FY08, had posted a profit after tax of Rs143 million translating into an earning per share (EPS) of Rs0.37 more... (FD)