Business News

Albert Einstein finally goes online

At speeds even he could barely imagine, Albert Einstein's private papers and innermost thoughts will soon be available online, from a rare scribble of "E=mc2" in his own hand, to political pipe-dreams and secret love letters to his mistress. Fifty-seven years after the Nobel Prize-winning…

Euro rangebound for lack of trading pegs

The euro moved narrowly in Asia on Wednesday as investors looked for fresh trading pegs. The euro bought $1.3324 and 110.64 yen, compared with $1.3315 and 110.71 yen in New York late Tuesday. The dollar edged down to 82.97 yen from 83.15 yen in New…

Two major US oil cos interested in TAPI pipeline

Two major US oil companies are interested in a four-country pipeline that would ship gas worth billions of dollars from Turkmenistan to India and Pakistan, a US government official said on Friday. The building of the US-backed "TAPI" pipeline through some of Afghanistan's most volatile…

Yen firms on Japan trade surplus

The yen strengthened against the dollar in Thursday morning trade after Japan posted an unexpected trade surplus in February, offering some hope for its plodding economy. The dollar eased to 83.13 yen before rebounding to 83.37 yen in Tokyo, still below 83.87 yen in New…

Lentils prices up by Rs3 to 29 at Utility Stores

Prices of lentils have been increased by Rs3 to Rs29 per kilogram at Utility Stores across the country, Geo News reported Monday. The raise was made by the administration of Utility Stores, sources said. Daal Chana witnessed maximum rise of Rs29 per kg to 107…

Rupee ends weaker at 90.73/80 to dollar

In the currency market, the rupee ended weaker at 90.73/80 to the dollar compared to its close of 90.68/75 on Wednesday due to increased import payments, especially for oil. Dealers expect some pressure on the rupee because of rising global oil prices. Oil was trading…

Yen firms against dollar and euro in Asia

The yen edged up against the dollar and the euro in Asian trade Tuesday as investors adjusted their positions.The dollar was trading at 81.42 yen in Tokyo morning trade, down from 81.53 yen in New York late Monday.The euro was changing hands at…

Forex reserves stand at $16424.5 million: SBP

Pakistan's total liquid foreign reserves stood at $16,424.5 million on February 24, 2012, State Bank of Pakistan said Thursday.According to break-up, foreign reserves held by SBP were $12,062.3 million and net foreign reserves held by banks (other than SBP) $4,362.2 million.

Oil prices higher on positive US data, Iran concerns

Oil prices edged higher in Asian trade Thursday, supported by upbeat US economic data and fears over supply disruptions in the Middle East, analysts said.New York's main contract, light sweet crude for delivery in April, gained one cent to $107.08 in morning trade and…

Euro up on new loan pledges to eurozone banks

The euro edged up in Asia on Wednesday, supported by positive expectations over the European Central Bank's second batch of low-interest loans to eurozone banks.The single currency fetched $1.3482 in Tokyo afternoon trade, compared with $1.3466 in New York late Tuesday. Against the yen,…

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