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Pakistan and Turkey agreed on Wednesday to upgrade their strategic partnership and step up political and economic cooperation.

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China on Friday dismissed as "unnecessary" the concerns of Pakistani businesses over the possibility of local markets getting flooded with cheap Chinese goods due to tax exemption under the CPEC project

ISLAMABAD: Pakistan and the United States agreed to go beyond security related relations and to promote public private partnership in business and trade ties. The agreement came during meeting between finance minister Dr. Abdul Hafeez sheikh and US deputy secretary of state, Mr. Thomas Nides in Islamabad.

ISLAMABAD: The Competition Commission of Pakistan (CCP) Tuesday provided 100 percent reduction in penalty to a multi-national Siemens Company for breaking a decade-long cartel in switchgear and transformer sectors.

KARACHI: The inflow of foreign direct investment (FDI) in Pakistan has declined by 48.4 percent to $ 666.7 million in July-April 2012, compared to $ 1.292.8 billion in July-April 2011.

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ISLAMABAD: Saudi Arabian Ambassador to Pakistan Abdullah M. al-Zahrani Friday said findings of probe into Mina stampede would be made public. Talking to Chairman Senate, Raza Rabbani, the Saudi envoy informed that a probe into Mina tragedy had been ordered and 'its findings would be made public.'

WASHINGTON: Chairman Privatization Commission Mohammad Zubair will announce Pakistan's power sector privatization programme at a roadshow being held in Washington on Thursday (Oct 8). The Chairman arrived in the US capital this week accompanied by Secretary Privatization Commission, Ahmad N Sukhera, Secretary Ministry of Water and Power, Mohammad Younus Dagha and Senior Advisor NEPRA, Hussnain Zaigham to participate in the event.

Australian Defence Minister John Faulkner has blocked a shipment of scientific equipment to Pakistan, fearing it could be destined for a weapons of mass destruction programme, a media report on Tuesday said.

Annual trade between India and Pakistan could reach $10 billion once both countries begin export and import through the Integrated Customs Check Posts at Wagha border, Indian High Commissioner Sharat Sabharwal said Thursday.

Pakistan has sought direct shipping links with Bangladesh to boost bilateral trade.

Pakistan's National Economic Council (NEC) Friday approved a development budget of Rs.663 billion ($7.8 billion) for fiscal 2010-11 beginning July 1.

Prime Minister Yousuf Raza Gilani has said that the authorities must focus on regional countries, including India and China, to increase exports.

Pakistan's auditor general has exposed the claims of good governance and better fiscal policies of the government by unearthing widespread financial irregularities of a whopping Rs.6.98 trillion in 2008-09, the first fiscal year of the ruling coalition.

Food prices have shot up in Pakistan by a whopping 74 percent in past three years, leading to an increase in hunger in the country, the authorities say.

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