Pakistan's forex reserves rise to a record $18.30 billion

Pakistan's foreign exchange reserves rose to a record $18.30 billion in the week ending July 23, from $18.23 billion the previous week, a senior central bank official said on Thursday. The previous record was in week ending July 2 and at $18.25 billion. more... (D)

Gold eases at Rs44,657

Gold slipped by Rs85 to close at Rs44,657 per 10 grams in the local market Thursday after touching peak, as its international price closed lower at $1,616 an ounce, market sources said more... (BR)

SBP to unveil Monetary Policy Statement on July 30

State Bank of Pakistan (SBP) Acting Governor Yaseen Anwar will unveil Monetary Policy Statement at press conference on July 30, 2011 at 4.pm at SBP Learning Resource Centre Auditorium, KarachI. more... (BR)

Pak-China initiative: Funds approved for rebuilding Karakoram Highway

Prime Minister Yousaf Raza Gilani has approved funds of $90 million for the reconstruction of a portion of Karakoram Highway (KKH) that was submerged by massive landslides in Gilgit-Baltistan (G-B) early last year. The credit to repair the strategic highway has been provided by the Chinese government as part of a larger grant for flood reconstruction activities in communication, energy and transport sectors. more... (ET)

Cuts in PSDP led to power, water crises: govt

The government has conceded playing a key role in prolonging economic recession in the country by repeatedly cutting down the Public Sector Development Programme (PSDP), resulting in energy and water shortages and unemployment in the country. more... (D)

KESC resumes operation, appreciates Governor's role to end unrest

The Karachi Electric Supply Company (KESC) has appreciated the Sindh Governor and the City Administration for their positive input into resumption of repair and maintenance work that will provide great relief to the outage-stricken general public of Karachi . more... (BR)

Nokia launches Ramazan mobile Apps

Nokia has announced the launch of a new range of mobile applications for the holy month of Ramazan. The applications have been specifically developed and designed for the month of Ramadan and include features that provide an opportunity to the customers to utilize their free time by gaining religious knowledge. more... (BR)

National Bank of Pakistan selects IBM for Business Continuity Services

National Bank of Pakistan NBP has selected IBM (NYSE:IBM) for Business Continuity and Resiliency Services (BCRS) to ensure uninterrupted services and protection of crucial data in the event of a disruption. more... (BR)

PPP, allies decide not to back off

Partners in the ruling coalition decided on Thursday to defend the ‘supremacy of parliament' and not to back off on the crucial issue of the authority of the executive. more... (D)

Provinces to build own power houses: Gilani

Prime Minister Syed Yusuf Raza Gilani Thursday said the government was undertaking long and short term measures to address its energy needs and has permitted the provinces to build their own power houses, to meet the shortfall. . more... (BR)

Complying with Orders: Court gives govt one more day

The Supreme Court has given the government one more day to obey its directives, including the reinstatement of a top bureaucrat, a written response by the prime minister and bringing back the chief investigator of the Hajj corruption scam. more... (ET)

Government respects all institutions: PM

Rubbishing clash between institutions as ‘speculations', Prime Minister Yousaf Raza Gilani, on Thursday, said the present government respected all institutions. “We restored the 1973 constitution, which is a sufficient proof that we want to build institutions.more... (DT)

Abu Dhabi rents cool on supply

News of falling rents in Abu Dhabi does not sound implausible any more with a number of developments across the capital steadily coming online more... (Gulf News)

Food and transport costs pushes Qatar inflation up

Rising food and transport costs pushed annual inflation in Qatar to a four-month high of 1.8 per cent in June, data showed yesterday. . more... (Gulf News)

British oil company make $588m Kurdistan aquisition

British oil company, Afren, is making moves into Iraq with a US$588m purchase of fields in Kurdistan, the Daily Telegraph reports.
more... (Zawya)

Al Rajhi Bank in Jordan plans to expand operations

kAl Rajhi Bank in Jordan plans to expand its operations in Jordan and at the regional level, Tarek Akel, the bank's chief executive officer said on Wednesday. more... (Zawya)