Gold price slips

Gold price slipped by Rs 85 to close at Rs 50,057 per 10 grams in the local market Tuesday as its international price improved to $1,718 an ounce, market sources said. more... (N)

Pakistan committed to gas plan: president

President Asif Ali Zardari told an Iranian delegation on Tuesday that Pakistan was committed to an early implementation of Iran-Pakistan gas pipeline project. more... (D)

UAE to announce projects in Pakistan

Consul General of UAE, Suhail Bin Matar Al Ketbi during a meeting with members of Karachi Chamber of Commerce and Industry (KCCI) said UAE was in a state to explore the potential in some other sectors and enhance the bilateral trade. more... (DT)

Rupee weakens against dollar

In the currency market, the rupee ended weaker at 90.62/67 to the dollar on Tuesday, compared with Monday’s close of 90.50/56 due to increased import payments, particularly oil. Dealers said they were also cautious after the IMF advised Pakistan to take immediate steps to tackle growing budget pressures and raise interest rates to contain inflation. more... (N)

Indus Motors increases car prices

The Indus Motor Company, in barely two months since its last price shift, has once again decided to increase prices on seven of its car models in the range of 23000-50000 per car. Due to the latest price revision, the modest Cuore CL STD will cost an additional Rs23,200 to buyers, while the new Toyota XLI Ecotec saloon is Rs53,500 dearer. more... (ET)

SSGC removes illegal connections in surprise raids

Sui Southern Gas Company (SSGC) has said that it has removed 400 illegal gas connections in Mehran Town of Korangi in surprise raids conducted as part of a campaign against gas theft in Sindh and Balochistan. more... (ET)

Govt rules out reversal of oil price hike

The government ruled out on Tuesday reversal of recent increase in the prices of petroleum products, saying that it was indexed and linked to the international prices and there was no way the equation could be changed. more... (D)

Cement sector continues to operate below capacity

Cement manufacturers continue to operate below 70 percent installed capacity in January 2012 as well as in first six months of this fiscal due to which they could not pass on the high production cost to the consumers.more... (D)

20th amendment talks: Govt, opposition close in on deal

Faced with the Supreme Court’s decision to suspend 28 parliamentarians, the government and opposition have to reach a consensus fast, and the second day of negotiations on the 20th amendment subsequently achieved a partial breakthrough. more... (ET)

National Assembly: New provinces create ruckus again

When the clamour for the creation of new provinces becomes a little louder, National Assembly proceedings, inevitably, tend to veer in another direction. more... (ET)

Appeal filed against PM contempt charges

An intra-court appeal requesting the Supreme Court to suspend its decision of framing contempt charges against Prime Minister Yousuf Raza Gilani was filed on Wednesday, DawnNews reported. more... (D)

PPP, PML-N fail to bridge differences over caretaker set-up

The deadlock between the ruling Pakistan People’s Party and the main opposition Pakistan Muslim League-Nawaz on the 20th Constitution Amendment Bill persisted on Tuesday as the two sides stuck to their stances on a caretaker set-up for holding general elections. more... (D)

Arab Bank Group ups net income by 13% to $305.9m

The press statement indicated that net operating income before provisions and taxes stood at $922 million noting that "the 2011 favourable results were achieved despite the challenging general conditions in the Arab region and other areas of the world and in particular the eurozone. more... (Zawya)

Economic upturn boosts Saudi bourse

An economic upturn triggered by high oil prices and massive public spending is keeping Saudi bourse at high levels with the index climbing on Sunday to its highest point in more than a year, a key Saudi bank said on Tuesday. more... (Zawya)

Credit profiles to be ready in six months

Credit profiles for individuals and companies will be made available to creditors within six months, the Federal National Council was told on Tuesday. more...(Gulf News)

Emirates raising Dh1.9b for new jets

Emirates airline is in the process of raising Dh1.9 billion ($517 million) in Islamic funding to finance three aircraft. more... (Gulf News)