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Hong Kong shares end flat, Hang Seng Index dipped 16.83 points HONG KONG: Hong Kong shares closed flat Friday as OPEC's decision to maintain output sent oil prices tumbling -- hammering energy firms but boosting airlines.The Hang Seng Index dipped 16.83 points, to 23,987.45 on turnover of HK$90.24 billion ($11.64 billion).The Organization of the Petroleum Exporting Countries (OPEC) on Thursday said it would "maintain the production level of 30 million barrels per day", where it has been for the past three years.The 12-nation cartel, which pumps a third of global oil supplies, made the move despite calls from around the world -- including from some of its own members -- to cut output as prices had fallen by a third since June.The news was greeted with a huge sell-off on oil markets, with both main crude contracts diving around five percent to four-year lows.Energy firms took a battering, with PetroChina losing 3.33 percent to HK$8.41 and CNOOC tumbling 5.50 percent to ...


Unilever lauds Pakistan's business potential ISLAMABAD: Pakistan is an emerging market with high potential for long-term growth and this positive outlook builds on the four-fold growth of the local business in last eight years.In a statement received here on Friday Chief Executive Officer, Unilever Paul Polman acknowledged Unilever's operations in Pakistan and said that it was amongst the best performing businesses units within company's global operations.He said that this positive outlook builds on the four-fold growth of the local business ...

Committee constituted for uninterrupted supply of gas, electricity to textile units ISLAMABAD: Minister for Textile Industry Abbas Khan Afridi Friday said that Prime Minister constituted a committee headed by Minister for Finance for uninterrupted supply of gas and electricity to the textile units.Replying to questions of legislators during Question Hour in the National Assembly, the minister said that Minister for Petroleum and Textile are the members of the committee for solution the problem.He said that it is observed that units are working as per routine but ...

Iran, China, India can play proactive role for stable Afghanistan: Asif ISLAMABAD: Minister for Defence Khawaja Asif on Friday said that Iran, China, India and Russia can play proactive role for stable Afghanistan.Talking to media outside the Parliament, the minister said that Daish, Taliban and Alqaida are the same elements and Pakistan is fighting against them.He said that "We are fully ready to counter every threat in the country".Replaying to a question Khawaja Asif said that PTI chairman Imran Khan should use the platform of the ...

Gunmen shoot dead Egypt army colonel in Cairo CAIRO: Gunmen in a car shot dead an Egyptian army colonel and wounded two soldiers outside a hotel in eastern Cairo on Friday, security officials said.The attack came hours ahead of planned Islamist protests that have prompted the police and military to boost their presence in the capital and other cities.The identity of the assailants was not clear, but militants have killed scores of policemen and soldiers since the army overthrew president Mohamed Morsi in ...

Pak, Iran gas-pipeline to be completed during present tenure: Khurram LAHORE: Federal Minister for Commerce Engineer Khurram Dastgir Khan has said that Pak-Iran gas-pipe line will be completed during the tenure of the present government.Addressing a dinner organised by former vice president of Rice Exporters Association of Pakistan (REAP) Muhammad Tahir at a local hotel on Thursday night, he said that the governments of Pakistan and Iran were working on improvement of trade, investment and connectivity between the both nations.He said the present government wanted ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln