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KARACHI: Pakistan's fiscal deficit for the first three months of fiscal year 2011/12 was 1.1 percent of gross domestic product, a Finance Ministry official told Reuters on Wednesday.

KARACHI: Askari Islamic banking business recovered from huge losses reported last year. In current year, it recovered 95.33 percent year on year (YoY) of the losses.

KARACHI: Government is likely to announce the name of State Banks Governor today as the deadline for appointing a governor of central bank has been expired on Monday.

LAHORE: Lahore Chamber of Commerce and Industry demanded, Federal Board of Revenue to impose 25 percent regulatory duty on copper export.

KARACHI: The Halal stock KMI 30 share index expected to be range-bound as investors seemed to be cautious on the back of mixed triggers.

KARACHI: Gold rates remained steady on Monday in major bullion markets of the cities. Gold prices in Karachi recorded at Rs. 55,500 per tola (11.66 grams). The price of 10 grams gold was recorded at the level of Rs. 47,571.

KARACHI: The foreign investment plunged enormously by 49 per cent to $236 million in the first quarter (Jul-Sep) of the current fiscal 2012, according to the latest statistics released by State Bank of Pakistan (SBP).

ISLAMABAD: Foundation laying stone of Diamir Bhasha dam will be held on Tuesday (today). President Asif Ali Zardari will be the chief guest of groundbreaking ceremony.

CHILAS: Prime Minister Syed Yusuf Raza Gilani Tuesday laid foundation stone of the US 12 billion dollar Diamir Bhasha dam that would generate 4500 MW electricity and store over 8 Million Acre Feet of water to meet country's growing power and irrigation needs.

KARACHI: GlaxoSmithKline Pakistan Limited (GSK) net profits during the third quarter of calendar year 2011-2012 (3QCY11-12) trimmed by 13.54 percent year on year (YoY) to Rs 236.454 million.