DUBAI: Dubai’s embattled group Dubai World, whose default fears had rocked global markets, Thursday said it reached agreement “in principle” with most of its bank lenders to restructure some 23.5 billion dollars in debt.  Read More →

ISLAMABAD: The Embassy of Pakistan in Jakarta has chalked out a plan to hold the first ever Pakistani carpets exhibition in Indonesia aiming to attract large local clientele, senior government functionaries, sizeable expatriates and diplomatic community.  Read More →

ISLAMABAD: All Pakistan Textile Mills Association (APTMA) has calls off its indefinite strike of the spinning mills after meeting with the Federal Minister for Textile Industry Rana Muhammad Farooq Saeed Khan.  Read More →

SINGAPORE: Oil prices fell to near $70 a barrel Friday in Asia on investor concern that a financial crisis in Europe could undermine the global economic recovery and crude demand.  Read More →

TOKYO: Asian markets dived Friday, following a brutal day on Wall Street where stocks took their deepest tumble in more than a year. The wave of selling came amid growing fears that Europe’s debt crisis could spread around the world. An unexpected increase in U.S. jobless claims added to the pessimism.  Read More →

ISLAMABAD: A report of the Ministry of Finance has recommended that a scheme of compulsory saving or pension plan be introduced for enhancing long-term savings while mobile banking be promoted for reducing the money in circulation. The economic report issued by the Ministry of Finance expressed concerns on the diminishing rate of savings and recommended increase in the rate of returns on savings in... 

The Great Britain pound advanced today against the other major currencies and may continue its rise further as the report showed that the number of the jobless benefits claimed is dwindling. The number of the unemployment claims decreased in March by 10,000 from the previous month, when it fell by 32,300. The pound was bolstered by the government report that the inflation grows with greater than predicted... 

TOKYO: Asian stock markets rose Tuesday after a mostly higher finish on Wall Street as concerns eased about the U.S. governments case against Goldman Sachs. The regions major benchmarks were up about 0.5 percent while oil regained some ground after a big tumble. The dollar fell against the yen and rose versus the euro. Japans Nikkei 225 stock average added 0.4 percent to 10,955.01as a slightly weaker... 

The U.S. dollar gained today, benefiting from the rising demand for the safer currencies after the meeting of the European Union’s minister to discuss measures, required to fight the budget deficits, and as China plans to let its currency float. The speculation that Greece may be forced to use its rescue package, provided by the EU governments, makes the investors to shun the euro and look for... 

The Japanese yen jumped unexpectedly against the U.S. dollar, the euro and most other majors by the end of this week as the drowning risk sentiment prompts the investors to look for the safer currency. The greenback has lost its appeal as the safe currency as the U.S. stocks dropped after the Goldman Sachs Group Inc. was sued for the fraud. The concern about Greece and its budget deficit remains while...