Trump rails against high oil prices, OPEC pushes back

Trump gave no details on what action his administration might take regarding oil or OPEC, and the White House did not respond to requests for comment-Photo: FileWASHINGTON/JEDDAH: US President Donald Trump accused OPEC on Friday of…

Alibaba ‘doing a lot of research’ on driver less cars: Jack Ma

Alibaba CEO Jack Ma. Photo: AFPE-commerce giant Alibaba is steering resources towards driverless car technology, its CEO Jack Ma confirmed on Thursday, joining a global race to shape the future of driving.Despite fresh safety fears after a woman…

China looks to speed up chip plans as US trade tensions boil – sources

BEIJING: China is looking to accelerate plans to develop its domestic semiconductor market amid a fierce trade stand-off with the United States and a US ban on sales to Chinese phone maker ZTE that has underscored the country’s reliance on…

OPEC’s new price hawk Saudi Arabia seeks oil as high as $100

DUBAI/LONDON: Top oil exporter Saudi Arabia would be happy to see crude rise to $80 or even $100 a barrel, three industry sources said, a sign Riyadh will seek no changes to an OPEC supply-cutting deal even though the agreement’s original target…

Federal cabinet approves Budget Strategy Paper for next fiscal year

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IMF sees solid near-term global growth but risks beyond

IMF predicts world growth of 3.9 percent in 2018 and 2019, unchanged from January despite raised estimates for US and EU growthWASHINGTON: The global economy is expected to grow at a solid pace through next year, boosted by faster expansion in the…

Netflix shares surge seven percent on subscriber gains

WASHINGTON: Shares in Netflix Inc neared a record high on Tuesday after the online video streaming service reported a rise in subscriber additions for the fourth straight quarter.The shares rose more than 7 percent in premarket trading as at least…

Not satisfied with country’s economic progress: Miftah Ismail

Adviser to the prime minister on Finance Miftah Ismail. Photo: FileAdviser to the Prime Minister on Finance Miftah Ismail said on Monday he is not satisfied with the rate of economic progress in the country.“The gross domestic product (GDP) of…

US adds India to currency watch list with China

India has a $23 billion trade surplus with the United States. Photo: Asian Age WASHINGTON: The US Treasury added India to its watch list of countries with potentially questionable foreign exchange policies, joining China and four others, according…

Oil hovers near highest since 2014 as OPEC sees tighter market

A man fixes a sign with OPEC’s logo next to its headquarters’ entrance before a meeting of OPEC oil ministers in Vienna, Austria. Photo: Reuters LONDON : Oil prices edged off highs last reached in late 2014 due to rising US stocks but remained…

Quetta to Kandahar rail service to start with China’s cooperation: Ahsan Iqbal

inister for Planning, Development and Reforms Ahsan Iqbal. Photo: File BEIJING: Minister for Planning, Development and Reforms Ahsan Iqbal said on Thursday that Pakistan and Afghanistan are planning to start a railway service from Quetta to…

Pakistan’s tax amnesty scheme likely to benefit country: Moody’s

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Facebook shares rise despite US senators’ grilling of Zuckerberg

The Facebook logo is seen on a screen inside at the Nasdaq Marketsite in New York, US, May 18, 2012. REUTERS/Shannon Stapleton/Files WASHINGTON/SAN FRANCISCO: Facebook Inc shares rose Tuesday to their highest in almost three weeks as chief…

Pakistan a safe place to do business, PM tells Alibaba CEO

Pakistani prime minister Shahid Khaqan Abbasi meeting with Alibaba’s CEO Jack Ma. Photo: Geo NewsPakistani Prime Minister Shahid Khaqan Abbasi met with Alibaba’s CEO Jack Ma at the sidelines of the Boao Forum for Asia Conference 2018 on…

Facebook CEO apologises, says company did not do enough to prevent misuse

WASHINGTON: Facebook Inc Chief Executive Mark Zuckerberg told Congress in written testimony released on Monday that the social media network did not do enough to prevent misuse and apologised.“It’s clear now that we didn’t do enough to…

SECP proposes tax exemption for overseas Pakistanis to boost investment: sources

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has put forward a series of tax-related recommendations to boost investment in the country, sources informed Geo News Sunday.Sources privy to the matter said the SECP has proposed…

FATF concerns: Miftah Ismail says tax amnesty scheme doesn’t violate money laundering laws

Adviser to Prime Minister on Finance, Miftah Ismail talking to media. Photo: APPAdviser to the prime minister on Finance Miftah Ismail on Saturday assuaged the concerns of the Financial Action Task Force (FATF) and assured the tax amnesty scheme…

Surprised at prior beneficiary Imran Khan decrying amnesty scheme: Miftah

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SBP issues warning against cryptocurrency transactions

BACKGROUND: A Bitcoin is seen at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Illustration/Benoit Tessier/Files; SUPERIMPOSED: A Pakistani flag flies in Islamabad, March 20, 2005. REUTERS/Mian Khursheed/Files KARACHI: Pakistan’s…

Pakistan resumes fuel oil imports after four-month halt

Photo: ReutersPakistan State Oil (PSO) this week issued its first fuel oil import tender for the year after suspending purchases at the end of 2017 ahead of an expected pickup in demand during summer.PSO, Pakistan’s main oil importer, in December…

Facebook shares rise four per cent as Zuckerberg reassures investors

Facebook CEO Mark Zuckerberg. Photo: ReutersShares of Facebook Inc rose as much as 4.2 percent on Thursday after Chief Executive Officer Mark Zuckerberg said the social network had not seen any meaningful impact on usage or ad sales in the wake of…

PM announces tax reforms package, amnesty scheme for non-filers and undeclared assets

Prime Minister Shahid Khaqan Abbasi was addressing a press conference in Islamabad on Thursday, April 5, 2018. Video: Geo News2 ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Thursday announced a reduction in income tax rates…

Bahrain says new discovery contains an estimated 80 billion barrels of tight oil

A new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom’s biggest ever find, Bahrain’s oil minister said. Photo: Reuters file1MANAMA: A new discovery off the coast of Bahrain is…

Boeing, Apple lead slide as China-US trade spat intensifies

Traders react as they work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., April 4, 2018. Photo: Reuters  Boeing and Apple led a slide in big US manufacturers and technology companies on Wednesday,…

Government will present budget before tenure ends: Miftah Ismail

Miftah Ismail. Photo: File Miftah Ismail, the prime minister’s adviser on finance, has said the present government will present the upcoming budget before it completes its tenure on May 31.In an interview to a news organisation, Ismail said the…

Spotify shares jump in record-setting direct listing

The Spotify logo hangs inside the New York Stock Exchange (NYSE) as the company lists its stock with a direct listing in New York, US, April 3, 2018. REUTERS/Lucas Jackson NEW YORK/SAN FRANCISCO: Shares of Spotify Technology SA ended up 12.9…

Cryptocurrency profits in Asia strong despite evaporating arbitrage boom

Bitcoins — created by enthusiast Mike Caldwell are seen in a photo illustration — at his office in Sandy, Utah, US, September 17, 2013. REUTERS/Jim Urquhart/Files SHANGHAI/SINGAPORE: When China closed its local cryptocurrency exchanges late…