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SINGAPORE: Oil prices extended losses on profit-taking in Asian trade Friday following sharp gains powered by the US central bank's pledge to retain its massive bond-buying programme, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in August, eased 11 cents to $104.80 a barrel in afternoon trade, while Brent North Sea crude for August delivery shed eight cents to $107.65. WTI hit a 15-month high of $107.45 in New York on Thursday and Brent reached $108.93. "Profit-taking is driving prices down. A lot of investors are taking short positions on oil right now," Kelly Teoh, market strategist at IG Markets in Singapore, told. "But I still expect WTI to have strong short-term support at $102 on upbeat sentiment that Fed tapering will take a backseat for now," she said. US Federal Reserve chairman Ben Bernanke on Wednesday said its $85 billion-a-month stimulus drive, known as quantitative easing (QE), would be kept in place "for the foreseeable future".
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KARACHI: CNG stations would remain closed across Sindh during the next 24 hours as part of gas load management plan, Geo News reported Thursday.
According to schedule, the CNG station would be closed today at 8:00 am across Sindh. The station would reopen on Friday 8:00 am after the closure of 24 hours.
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Sindh province is on top with 84pc mobile phone penetration followed by Punjab where such penetration touched 68.1pc mark till 2012. Other provinces have less than 50 % penetration i.e
KPK 42.2 % and Balochistan 45.9pc. The government and regulator PTA have been encouraging cellular mobile operators to expand their networks in Balochistan and as a..... Read more
After its emergent session presided over by Agha Saiddain Central Chairman Pakistan Tanners’ Association (PTA), the Association appealed to Mian Shahbaz Sharif, Chief Minister of Punjab, to take immediate note on the orders notified by DCO for closure of every kind of leather hide and skin business within the limits of Municipal Corporation limits ..... Read more
