KARACHI: Pakistanis are returning to shopping with zest and zeal at special events and bazaars, say exhibitors, as despite continuing economic crisis,

More: continued here

BAGHDAD: OPEC is likely to decide to cut oil production targets when it meets in March, which should help prices gradually rise back above a fair pric

More: continued here

KARACHI: The corporate results announcement season for the period ended last December and the appearance of a number of investment-friendly news this

More: continued here

India’s Congress Party on Saturday said the international community should consider declaring Pakistan a terrorist state in light of the latter’s release of a scientist who sold nuclear secrets around the globe.

More: continued here

ISLAMABAD: The World Bank plans to lend Pakistan $2 billion this year, the bank said in a statement on Saturday, as the South Asian country struggles to combat inflation and prop up sagging economic growth.”The bank plans to provide up to $2 billion in credits during this fiscal year to support economic growth and the government’’s poverty-focussed programmes,” the statement quoted the country’’s director for Pakistan, Yusupha Crookes, as saying.The statement came at the end of an official visit to Pakistan by the bank’’s Managing Director, Ngozi Okonjo-Iweala, who praised the government’’s efforts to correct macroeconomic imbalances.”Pakistan is now moving in the right direction,” Okonjo-Iweala said.After years of healthy growth, Pakistan’’s economy was hit by surging oil and food prices in 2008, while investment dried up because of political uncertainty and security challenges posed by Islamist militancy.The State Bank of Pakistan is expecting about 3.7 percent gross domestic product (GDP) growth in the 2008/09 fiscal year to June 30, down from 5.8 percent in the previous year.Pakistan is also faced with the worst inflationary pressure since the 1970s. The consumer price index rose 23.34 percent year-on-year in December.The International Monetary Fund approved a $7.6 billion package for Pakistan in November to help it avert a balance-of-payment crisis and support its dwindling foreign exchange reserves.Pakistan has also been trying to drum up support from other donors and international lending agencies to expand its social safety net and boost development spending.

More: continued here

India Saturday said the international community should consider declaring Pakistan a terrorist state in light of the latter’s release of the scientist who sold nuclear secrets around the globe.

More: continued here

Polish authorities in Pakistan say they are monitoring local reports that Taliban militants have executed a kidnapped Polish engineer.

More: continued here

Pakistan on Saturday sought to allay international concerns that the release of its disgraced nuclear scientist Abdul Qadeer Khan could lead to renewed nuclear proliferation.

More: continued here

DUBAI: India has displaced Australia as the number two team in ICC’’s ODI rankings after New Zealand defeated the world champions by six wickets in the second ODI in Melbourne. India, who have made steady upward progress after its winning streak of nine consecutive ODI triumphs, now have 122 rating points to be just three points behind top-rankers South Africa. The Proteas recently climbed to the top of the table at Australia’’s expense. Australia (121) have been pushed to the third place while New Zealand follow on fourth rung with 117 points. Pakistan is further down the ladder at fifth while England and Sri Lanka are sixth and seventh respectively. Australia, who have been on the decline in the last few months, have just about managed to retain their place as the number one team in the longer version of the game despite losing the Test series at home to South Africa. South Africa and India are now the top challengers to Ricky Ponting’’s team in both the versions.In ICC Test rankings, Australia have 126 points while second-placed South Africa is 121 and would get a chance to topple Australia when they take on Ponting’’s men in a home series beginning later this month. India is placed third with 118 points. The number one ODI team on April 1 will be richer by USD 175,000 with the runners-up getting USD 75,000.

More: continued here

A Taliban militant group said Saturday that it killed a Polish geologist kidnapped four months earlier in northwestern Pakistan after failing to agree on a prisoner swap with the government.

More: continued here
Pakistan News