ISLAMABAD: A top government official on Thursday conceded that Pakistan Steel products were being sold below the cost price, allegedly to some close f

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NEW YORK: New York crude oil prices fell below 34 dollars a barrel Thursday in a market plagued by weak energy demand reflected in new US data that showed surging crude stockpiles. New York’’s main futures contract, light sweet crude for delivery in March, fell 1.96 dollar from Wednesday’’s closing to 33.98 dollars per barrel. The contract is nearing five-year lows of 32.20 dollars hit on December 18. In London, Brent North Sea crude for March delivery rose 37 cents to 44.65 dollars per barrel. The price differential between New York crude and London Brent oil hit a record of nearly 11 dollars in a move attributed by analysts to speculative trading and high US inventory levels.”We continue to have very large inventories number in the United States, double of what was expected,” said Bart Melek of BMO Capital Markets. “And we continue to see a decline on the demand side of the equation, and the prospects are that it’’s not getting better any time soon. This has been the biggest recession for 60 years,” Melek said. The US Department of Energy (DoE) said in its weekly report on Wednesday that American crude stockpiles soared by 4.7 million barrels in the week ending February 6. That beat market expectations of a 3.0-million-barrel gain. Elsewhere, the industrialized nations” energy watchdog, the International Energy Agency (IEA), on Wednesday again cut its forecast for global oil demand this year.

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ISLAMABAD: All senators from Sindh are likely to be elected unopposed and there will be no need for polling on March 4, according to experts and analy

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IslamabadThe Ministry of Health is piloting a maternal and neonatal tetanus vaccination campaign in six districts of Punjab to reduce morbidit

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LAHORE: Special US Representative for Afghanistan and Pakistan Richard Holbrooke held separate meetings with PML-N Quaid Nawaz Sharif, Shahbaz Sharif,

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The United States on Thursday welcomed as a “good step” Pakistan’s arrest of six suspects in the Mumbai siege, adding that Islamabad shows it is serious about cooperating in the probe.

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BANNU: Heavy exchange of fire was reported between militants and security forces after militants lodged rocket attacks at Meryan police station in Bannu on Thursday. But no immediate report on causalities was confirmed, sources said.According to sources, five rockets were fired at Meryan police station in Bannu which triggered exchange of fire between militants and security officials, sources added saying, local armed persons also helped security officials fire on militants.Sources told Geo News, police station building received minor damages in the attack.

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IslamabadChief Commissioner Kamran Lashari Thursday said that steps would be taken to provide maximum sports facilities to youth of the federa

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IslamabadA division bench of the Islamabad High Court (IHC), comprising Justice Muhammad Munir Paracha and Justice Raja Saeed Akram Khan, on T

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KarachiThe federal government on Thursday stopped the Karachi Electric Supply Company (KESC) from materialising its earlier notification, whic

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