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Oil prices retreat on profit-taking SINGAPORE: Oil prices fell in Asia on Friday as investors locked in profits following a six-day rally, with a rise in OPEC's output in March also adding to downward pressure, analysts said.US benchmark West Texas Intermediate (WTI) for May delivery dipped 43 cents to $56.28 and Brent crude for June eased 48 cents to $63.50 in late-morning trade."After a sustained increase in both the WTI and Brent over the past week, traders are selling... and this has led to the downward pressure in prices we see today," said Daniel Ang, an investment analyst at Phillip Futures in Singapore.Prices rose for the sixth day running on Thursday -- with WTI hitting its highest level since December -- on news that US shale output, which has contributed to a global supply glut, may be on the cusp of easing.But Ang said the oversupply was unlikely to end soon due to strong production ...

Imran failed to give evidence to prove his baseless allegations: Pervaiz Rashid ISLAMABAD: Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid here on Thursday said even today Imran Khan failed to give evidence to prove his baseless allegations about elections.In a statement, he said Imran Khan was wasting time of the nation and if he had proofs, he would not have made lame excuses today.Imran provoked the nation for one year on the basis of his baseless allegations, he added.The Minister asked how a party ...

Pakistan to consolidate economic gains for long-term: Finance Minister Dar WASHINGTON: Having achieved macroeconomic stability despite some longstanding challenges, Pakistan is now endeavoring to consolidate economic gains in a wide array of sectors through far-reaching steps, Finance Minister Senator Ishaq Dar said Thursday. Speaking at the Carnegie Endowment for International Peace, Dar also said Islamabad is striving for a 5 percent GDP growth this year on the back of a series of positive indicators that have seen the economy expand and foreign exchange reserves rise ...

IMF says yuan on path to inclusion in SDR basket WASHINGTON: China's economic reform plans, including opening up its capital account and deepening financial markets, should help Beijing meet the IMF's criteria to join its Special Drawing Rights currency basket, the head of the IMF said on Thursday.International Monetary Fund Managing Director Christine Lagarde earlier this year said it was a question of when, not if, China's yuan will be included in the SDR basket - currently made up of dollars, yen, pounds and euros.The ...

Chinese president to visit Pakistan, hammer out $46-billion deal ISLAMABAD: Chinese President Xi Jinping will launch energy and infrastructure projects worth $46 billion on a visit to Pakistan next week as China cements links with its old ally and generates opportunities for firms hit by slack growth at home.Also being finalised is a long-discussed plan to sell Pakistan eight Chinese submarines. The deal, worth between $4 billion and $5 billion, according to media reports, may be among those signed on the trip.Xi will visit ...

Iraq PM welcomes Iran aid, but says must respect sovereignty WASHINGTON: Iraq's Prime Minister Haider al-Abadi on Thursday welcomed Iran's assistance in the fight against Islamic State jihadists, but warned Tehran to respect Baghdad's sovereignty."Everything must be done through the government of Iraq," Abadi told an audience of US policy experts at a Washington think tank on his first trip to the United States as prime minister."We welcome the Iranian government's support for us," Abadi added, on the third day of a visit aimed at ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln