Policy rate: Balancing inflation, growth a difficult task

The State Bank of Pakistan (SBP) will announce its monetary policy for the next two months on November 30, a central bank official said on Monday.The central board of directors of SBP will meet in Karachi to approve the policy and the meeting will be chaired by Governor Yaseen Anwar. more... (ET)

Rupee hits record low against dollar

The rupee hit a record low in interbank exchange rates on Monday on increased import payments and negative regional sentiment on currencies.The rupee closed at 88.02/07 to the dollar, compared with Friday’s close of 87.75/80. more... (ET)

Rs600mn development package for Swabi unveiled

Chief Minister Khyber Pakhtunkhwa, Ameer Haider Khan Hoti has announced development package worth Rs.600 million for the development of district Swabi and said that fruits of completion of political and election manifesto will be extended to every nook and corner of the province. more... (BR)

FDI in IT sector posts 120% growth in Jul-Oct 2011

Pakistan’s Information and Technology (IT) industry has gained limelight as foreign investors are seeking healthy opportunity to work with local software houses and service providers as shown by the substantial inflow of foreign investment in the country. more... (DT)

KESC fails to keep promise, industrialists may resume protests

Karachi Chamber of Commerce and Industry (KCCI) President Mian Abrar Ahmed has announced that industrialists would resume their protest if the Karachi Electric Supply Company (KESC) did not end the 12-hour power outages immediately. more... (ET)

Efforts to fight cotton virus discussed

It is imperative to step up efforts to fight cotton leaf curl virus which is badly affecting cotton production, said experts at a conference on Monday.A two-day 8th National Conference of Pakistan Phytopathological Society (PPS) started here at the University of Agriculture Faisalabad (UAF). more... (ET)

Power bills with hefty arrears upset govt, farmers

The Khyber Pakhtunkhwa government and farmers have accumulated over Rs400 million arrears as the Peshawar Electric Supply Company (Pesco) charged their tubewells less tariff over the last few years than the one approved in February 2007. more... (D)

Pak-Turkey to sign PTA next year

Preferential trade agreement is to be signed next year between Republic of Turkey and Pakistan. Murat M Onart, Consul General Republic of Turkey said in a meeting with Karachi Chamber of Commerce and Industry (KCCI) and its members .more... (DT)

Pakistan ties troubled but repairable: US general

US-Pakistani relations are at one of their worst points in memory after the Nato strike that killed 24 Pakistani troops, but can recover, Washington’s top military officer said on Monday. more... (D)

PM suggests Peace Nobel for Edhi

Prime Minister Yousuf Raza Gilani proposed on Monday the name of Abdul Sattar Edhi, head of the Edhi Foundation, for the Nobel Peace Prize.He was talking to Dr Nafisa Sadiq, Special Envoy of UN Secretary General on HIV/Aids for Asia.Dr Nafisa praised the proposal and promised to mobilise support for it at all levels. more... (D)

Wasan orders ban on display of arms

Sindh Home Minister Manzoor Hussain Wasan has under section 144 CrPC ordered complete ban on display of arms in Karachi, including those holding licences. “There will be a ban on display of arms for next 12 days of Muharram in the city,” he said while talking to newsmen Monday after visiting the spot of killing of two boy scouts on duty to volunteer at Numaish Chowrangi on Sunday afternoon. . more... (DT)

NATO attack sparks city-wide protests

Members of civil society, lawyers, traders and students staged rallies in the city to protest against the NATO attack on Pakistani forces that left 24 soldiers, including two officers, dead .more... (DT)

Saudi Arabia's real GDP set to grow by 7.3% in 2011

The Kingdom's overall real GDP will grow by 7.3 percent in 2011, up from previous forecast of 6.9 percent. The report said nominal GDP figures are impacted even more because they incorporate the increase in oil prices as well as production .more... (Zawya)

Oil prices surge on weak dollar, Italy rumours

Oil spiked higher on Monday, driven by a struggling dollar, swirling speculation over an Italy bailout, upbeat US data and geopolitical tensions in the crude-rich Middle East, traders said.New York's main contract, light sweet crude for delivery in January jumped $3.38 to $100.15 a barrel .more... (Zawya)

Kuwait cabinet quits to thwart grilling of PM

Kuwait's Emir Shaikh Sabah Al Ahmad Al Sabah has accepted the resignation of the government, but has asked it to continue running the affairs of the country until a new cabinet is formed.The government tendered its resignation yesterday afternoon following an emergency meeting chaired by the Emir. more... (Gulf News)

Labour ban still making life tough for workers seeking to change jobs

Workers have complained that the Ministry of Labour is still asking for approval from sponsors if workers wish to change jobs after two years.Affected workers pointed to the ministry's earlier reforms to the labour law which did away with the need for a sponsor's approval for employees who have been with their sponsors for two continuous years. more... (Gulf News)