Forex: Reserves flat at $17.03 billion

Pakistan’s foreign exchange reserves were flat at $17.03 billion for the week ending November 11, unchanged from the previous week, the central bank said on Thursday. more... (ET)

Alarming: Foreign investment falls 58.4% in July-Oct FY12

Direct and portfolio foreign investment in Pakistan fell 58.4% in the first four months (July-October) of the 2011/12 fiscal year to $238.1 million, the central bank said on Thursday. more... (ET)

Circular debt in power sector reaches Rs 664.52 billion

Special Parliamen-tary Committee on Energy Crisis was informed here on Thursday that circular debt in the power sector has reached at Rs 664.527 billion with Rs 367 billion payable by PEPCO and Rs 299 billion in receivable category. more... (DT)

Rice exports to increase in near future

Rice Exporters Association of Pakistan (REAP) Vice Chairman, Safder Hussain Mehkri said that Pakistan will enhance its rice export in the beginning of 2012 to meet the demand of traditional buyers. more... (BR)

Rental projects case: SC orders Reshma power plant to pay up Rs4.5b today

The Supreme Court on Thursday ordered private Reshma Rental Power Plant to pay up by Friday the sum of Rs4.5 billion that it had earlier received as mobilisation advance. more... (ET)

Textile mills output falls 35% after 3-day gas cut

Spinning and weaving industries, while rejecting gas supply suspension for three days in a week, have said the energy shortage has affected 35 per cent of production capacity and investment worth billions of rupees. more... (ET)

MD PSO: Fourth candidate mysteriously added to short-list

Some lobbies have apparently become active in appointing a candidate of their choice as managing director (MD) Pakistan State Oil (PSO), a candidate not on the list of people shortlisted by the Petroleum Ministry. more... (ET)

Price controls: Equalisation tax on fertiliser plants under study

The government is studying a proposal to slap an equalisation tax on fertiliser plants running on gas in an effort to check unhealthy rise in fertiliser prices and windfall gains being made by manufacturers. more... (ET)

Estranged allies: In London, Mirza keeps PPP, MQM on their toes

While controversial Dr Zulfiqar Mirza stuck to his guns on Thursday and submitted what he insisted was “evidence” against the MQM to the Scotland Yard, the Muttahida Qaumi Movement walked out of the National Assembly in protest. more... (ET)

Vying for support: Nawaz, Qureshi to ‘meet soon’

PML-N Chief Nawaz Sharif on Thursday announced that his meeting with former PPP stalwart Shah Mehmood Qureshi is scheduled for November 22. more... (ET)

Decision on resigning from assemblies not yet finalized: Nawaz

Chief of Pakistan Muslim League Nawaz (PML-N) Nawaz Sharif has said that the decision on resigning en bloc from the national and provincial assemblies had not yet been finalized. more... (BR)

Zardari assures MQM of action against Memon

President Asif Ali Zardari appears to have succeeded in pacifying the Muttahida Qaumi Movement on Thursday after assuring his party`s coalition partner that disciplinary action would be taken against Sindh Information Minister Sharjeel Memon. more... (D)

Syria suspended but Arabs to keep contacts: diplomat

Syria has been suspended from the Arab League over its violent suppression of anti-regime protests but the organisation remains in contact with Damascus, Arab diplomats told AFP on Thursday. more... (Zawya)

US proposal to double fuel efficiency

The Obama administration proposed on Wednesday doubling auto fuel efficiency to 54.5 miles per gallon by 2025, a White House energy priority that has come under scrutiny in Congress. more... (Gulf News)

Bourses could see another bounce

Last week, Italy moved to the forefront of the Eurozone debt crisis as the yield on its 10-year bonds rose above seven per cent, thereby making new debt to replace maturing debt that much more expensive, and therefore unsustainable. more... (Gulf News)

Emirates sticks to growth plan

As fuel prices continue to play havoc with airlines across the world, Emirates remains optimistic and firm about its future growth strategy, according to Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and Chief Executive of Emirates airline and Group. more... (Gulf News)