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KARACHI: Microfinance industry in Pakistan is a growing industry and it is currently serving approximately two million customers said Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan.

ISLAMABAD: Fruit and vegetable export from the country during the first two months of current financial year grew by 60.46 per cent and 80.87 per cent respectively.

KARACHI: Mr. Syed Ali Hamdani has been appointed as the new Chief Executive Officer of the Siemens Pakistan.

WASHINGTON: Finance Minister Dr Abdul Hafeez Shaikh met with leaders of major financial institutions here on Thursday during the IMF-World Bank meetings and discussed cooperation for Pakistan's development.

NEW YORK: Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis.

ISLAMABAD: Export of fish and fish preparations increased by 10.10 percent during the first two months of the current fiscal year (2011-12) compared to the exports of the same period of last year.

KARACHI: The Sui Northern Gas Pipelines (SNGPL) is planning to partially shut down Qadirpur gas field for maintenance of compressors and other gas fields, which could disrupt the supply of gas provided to the SNGPL network.

KARACHI: According to the latest data released by the All Pakistan Cement Manufacturers Association (APCMA), the local cement dispatches increased by 13.68 percent to 3.68 million tons during Aug-Jul compared to the same period last year.

KARACHI: Syed Samar Hasnain, Director, Agricultural Credit & Microfinance Department, State Bank of Pakistan said that the paid up capital requirement set by the central bank for the microfinance banks is high. But it is necessary at the same time to ensure a sound financial system.

SINGAPORE: Gold prices dipped 1 percent on Friday, headed for their sharpest weekly loss since May, amid a sell-off in commodities sparked by fears the global economy could plunge back into a recession.

KARACHI: The rupee firmed on Tuesday to close at 87.42/52 to the dollar, compared with Monday's close of 87.43/53 but dealers expect pressure on the rupee due to negative sentiment surrounding the country's economic outlook.

KARACHI: The Asian Development Bank (ADB) has presented a modest economic growth forecast of 3.7 percent for Pakistan for FY12, lower than government's target of 4.5 percent.

KARACHI: Refinery sales witnessed higher output along with 14 percent growth in the first two months of fiscal year 2011-12 (2MFY11-12). High Speed Diesel (HSD) and petrol contributed as their growth outshined by 91 percent during the period under review.

SINGAPORE: Gold slipped more than half a percent on Thursday after equities rose and the euro ticked up on optimism over tentative steps by European policy makers to resolve and limit the region's debt crisis.

Karachi: All Pakistan Textile Mills Association (APTMA) has embraced the proposed Liquefied Natural Gas (LNG) Policy 2011 and appreciated the efforts of federal government for taking interest in bringing LNG into the system, said by APTMA Chairman Gohar Ejaz.

KARACHI: The sales of Oil & Marketing Companies (OMCs) dropped by 6 percent during the month of August to 1.740 million tons, according to the latest data released by Oil Companies Advisory Committee (OCAC).

ISLAMABAD: The negotiations between the government and commercial banks remained successful on Tuesday to resolve the mounting circular debt issue of Rs 400 billion in the power sector of the country.

ISLAMABAD: Rising circular debt issues and ongoing power riots have brought Prime Minister Syed Yousuf Raza Gilani into action as he asked the inter-ministerial committee on energy to submit report in the special Cabinet meeting on October 12.

ISLAMABAD: Owing to timely monsoon rains, bumper kinnow crop is expected during the current year (2011-12), raising the chances to surpass the exports figures of previous year.

ISLAMABAD: The Federal Board of Revenue (FBR) has realized a total provisional collection of Rs.373.819 billion during the first quarter of July-September 2011-12 showing an overall increase of 27.4 percent as compared to same period of last fiscal year.