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... 

KARACHI: Pakistan State Oil (PSO)’s amounts under its receivables and payables have come to a matching level at Rs114.50 billion. According to PSO officials, the main oil supplier of the country is yet to recover Rs114.50 billion from different organizations. WAPDA’s payables to PSO amount to Rs43.48 billion; HUBCO Rs39.60 billion; KAPCO Rs19.82 billion; PIA Rs1.32 billion; KESC Rs1.27... 

RAWALPINDI: Water and Power Minister Raja Parvez Ashraf claimed that 1000MW of electricity would add to the system this month while 2700MW more electricity would be included in the system during this year. Speaking at the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Friday, he said the situation would not have become so alarming if the 1994 policy of power generation had been carried... 

The euro went down today as the concern grows that the rescue package, provided by the European Union to Greece and valued as much as 45 billions euro ($61 billion), wouldn’t be enough to completely deal with the country’s debt.’ The worries about the strength of the Greece’s economy grow anew and may hurt other European countries as the concerns are spreading to them too. Another such country... 

ISLAMABAD: President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani Friday condemned the blast at Quetta Civil Hospital in which at least 10 persons were killed and several others were injured. Interior Minister Rehman Malik has ordered inquiry of the blast and called report from I.G. Police Baluchistan. The governors and chief ministers of provinces,... 

ISLAMABAD: The government has requested for modification in the performance criteria for budget deficit to increase the cumulative end-quarter ceiling of Rs22 billion to allow space for urgent security outlays and avoid undue cuts in other priority spending, The News learnt on Wednesday. The Finance Ministry submitted the Letter of Intent (LoI) and the fourth Supplementary Memorandum of Economic... 

WASHINGTON: Russian President Dmitry Medvedev Tuesday called for Moscow’s swift entry into the WTO “without humiliation or new demands” and urged the US administration to support its bid.  Read More →

WASHINGTON: US President Barack Obama has again pushed China to readjust its “undervalued” currency but refused to give any timeframe for Beijing to act despite pressure from American lawmakers.  Read More →