Pakistan News

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  • India ride-hailing firm Ola sideswiped as Uber, Didi team up in China

    NEW DELHI: Didi Chuxing's acquisition of Uber's China business last week reshapes the landscape in Asia's growing ride-hailing sector, and leaves India's Ola more vulnerable to attack by Uber in its $12 billion home market...

    Four months ago, Ola executives met with Didi hoping the Chinese firm would invest fresh capital to help it fight Uber Technologies Inc which, with its deeper pockets, has made rapid inroads into India...

  • Drivers' strike paralyses Uber, Ola services in Delhi

    UL] and Ola drivers demanding better pay has paralysed the ride-hailing services that have grabbed business from traditional taxi and rickshaw operators with their cheaper fares...

    Both Uber and Ola faced disruptions, with their apps showing 'No Cars Available' when attempts were made to book a ride near Connaught Place, in Delhi's city center, around midday on Monday...

  • BoE ends 2015 with interest rates on hold

    LONDON: The Bank of England (BoE) has kept interest rates at a half a per cent, it announced on Thursday in the last monetary policy decision of the 2015...

    “The MPC’s decision to leave interest rates on hold again today highlights how the UK is set to tread the middle path between a loosening ECB and tightening US Fed,” said Capital Economics economist Scott Bowman...

  • City govt raises chicken rates

    KARACHI: The city government, for some unexplained reasons, has started pushing up the rates of chicken at a time when the retailers are inclined to sell it at rates cheaper than before...

    Earlier in May the official rates of live bird and its meat were Rs134 and Rs200 per kg, respectively, while the consumers were paying up to Rs220 per kg for live bird and up to Rs380 for its meat...

  • Commercial or subsidised rates?: Land for Sahiwal BISE not acquired yet

    SAHIWAL: Stakeholders have failed to settle down differences on the rates of 200 kanals for the construction of Sahiwal Board of Intermediate and Secondary Education’s (BISE’s) building in Sahiwal division...

    The district government, in collaboration with the provincial Revenue Department, has allocated land on subsidised rates for the sub-campuses of the Bahauddin Zakariya and COMSATS universities...

  • Freight rates increased by up to 64pc

    ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Friday notified up to 64 per cent increase in freight rates for the movement of oil products by oil tankers...

    In a notification sent to the Oil Companies Advisory Council (OCAC), the regulator said it had revised uniform freight (road) slab rates with effect from Nov 1 and desired its implementation...

  • India’s central bank holds rates, cuts growth outlook amid slowdown

    MUMBAI: India’s central bank held interest rates at a seven-year-low on Wednesday as it downgraded growth forecasts for Asia’s third largest economy amid a slowdown following recent high-profile reforms...

    Prime Minister Narendra Modi sought to allay slowdown concerns, saying his government’s performance must not be judged based on just one quarter...

  • FIFA rates Russia’s World Cup preparations ‘good’

    MOSCOW: Preparations for next year’s World Cup finals in Russia are on track but lots of work remains to be done, a top official of global football’s governing body FIFA said on Thursday...

    “In general the state of readiness is good, planning is good and on track,” Colin Smith, FIFA’s director of competitions, told reporters in Moscow after an inspection of host cities
  • State Bank cuts interest rates to historic low of 7%

    ISLAMABAD: State Bank of Pakistan (SBP) on Saturday slashed the benchmark interest rates to a 42-year low of seven per cent, hoping to stimulate growth in the long dormant economy...

    “The State Bank (of Pakistan) is cutting the monetary policy rates by 100 basis points, aiming at boosting investment in the country,” the SBP Governor Ashraf Mahamood Wathra told a press conference in the federal capital...

  • Call rates

    It is perhaps now more than six months that after this de-establishment the call rates have not come to pre-October 2012 level...

  • Asian central banks cut rates, spur bubbles

    The central bank of New Zealand Thursday lowered interest rates even in the face of a booming property market in the nation’s largest city...

    The Reserve Bank of Australia governor Wednesday said he may lower rates again, even as he wrung his hands over what he dubbed as “crazy” Sydney house prices...

  • Du Plessis rates Gibson top choice for SA coach

    CAPE TOWN: Eng­land bowling coach Ottis Gibson is South Africa’s preferred choice as new head coach, the Proteas’ Test captain Faf du Plessis said on Thursday...

    Du Plessis made the announcement, which followed media speculation in both countries, at a press conference on the teams return home from England, where Gibson helped mastermind the hosts’ 3-1 Test series win
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