KarachiThe staff of provincial Crime Investigation Department (CID) have claimed to have busted a network of motorcycle lifters from Mauripur

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DUBAI: Up to 45 per cent of the construction workforce in the United Arab Emirates could be laid off, with thousands already having lost their jobs du

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A retired Deputy Superintendent of Police (DSP) was shot dead on Wednesday in the Mithadar police limits.The police said that the incident was

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LAHORETehreek-e-Insaaf Chief Imran Khan has said the party would emerge as a major political force in the next six months and provide justice

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KARACHI: Pakistan will use diplomatic channels if needed in a bid to save the proposed home series against Sri Lanka lined up for January-February nex

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NEW YORK: World oil prices tumbled on Wednesday to new four-year lows in volatile pre-Christmas trade as economic gloom weighed on the market, analysts said.Light sweet crude for delivery in February shed 3.63 dollars to close at 35.35 dollars a barrel on the New York Mercantile Exchange, the ninth consecutive drop in prices.On London’’s InterContinental Exchange, Brent North Sea crude for February delivery fell 3.75 dollars to settle at 36.61 dollars a barrel, the lowest since July 2004.Analysts said the declines were driven by worries about a global recession that saps energy demand. “The economic data remains decidedly weak,” said John Kilduff at MF Global. The latest reports from the United States confirmed ongoing grim conditions.In the first decline in four months, personal income contracted 0.2 percent in November, surprising analysts who had expected no change. Consumption expenditures shrank 0.6 percent in the month before Christmas, its fifth consecutive decline, according to the Commerce Department.The Labor Department said separately that new US weekly jobless claims rose by 30,000 over the past week to 586,000, in another sign of a weak employment picture. The figure was higher than the 558,000 expected by private economists and indicates employment, one of the best indicators of economic momentum, continues to struggle.Kilduff said oil markets are pricing in a continued decline in economic activity. “The energy markets appear as unappreciative of the stimulus efforts as any of the other markets and the pricing in of doom and gloom are producing price levels that transcends reality,” he said.

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Pakistan News

Additional District and Sessions Judge (South) Asif Ahmed remanded four bank managers to police custody till December 31 for alleged involvement in a

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KARACHI: The Inspector General of Police (IGP), Sindh, Sultan Salahuddin Khattak, has issued directives for maintenance of strict security on the occasion of Christmas here in metropolis. Police and rangers officers have been deployed in and around the hotels, shopping centers and Churches in the city.According to sources, as many as 329 Churches are present in Karachi including both Protestants and Catholic school of thoughts.For avoiding any security lapse, all the shops and offices located nearby Churches, have got closed earlier Wednesday evening.A statement here said that IGP issued directives to this effect to Capital City Police Officer (CCPO), Karachi, and regional Police Officers of Hyderabad and Sukkur. The IGP directed snap checking especially in Karachi and the motorcycle and mobile patrolling be made more effective. Plain-clothed policemen be deployed at important places, he ordered.

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LAHORE: The Lahore stock market saw bears losing substantial control as a dozen shares moved up on Wednesday with companies rising on their own streng

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LAHOREPRIME Minister Yousaf Raza Gillani has said the federal government would fully cooperate with the provincial government in advancing hea

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