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Facebook beats Wall Street targets, stock hits record high

SAN FRANCISCO: Facebook Inc’s (FB.O) fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street’s financial targets and sending shares to a record-high in after-hours trading on Wednesday. The world’s No.1 … Read More

SBP advices banks to ensure availability of ATM services during EID holidays

ISLAMABAD: The central bank of Pakistan advised all the banks to take required measures to ensure the availability of cash in Automatic Teller Machine (ATM) during EID holidays, ARY News reported. State Bank of Pakistan (SBP) issued a statement on … Read More

Yahoo to buy analytics startup Flurry

SAN FRANCISCO: Yahoo Inc (YHOO.O) will buy mobile analytics startup Flurry to beef up a fast-growing mobile advertising business that still lags Google Inc’s (GOOG.O) and Facebook Inc’s (FB.O) in scale. Six-year-old Flurry uses analytics to help target ads at … Read More

Pakistan to repay $ 1.3bn under loans to IMF

ISLAMABAD: Pakistan will repay its loan of $ 1.3 billion to the Internationally Monetary Fund (IMF) this year, ARY News reported Monday.

According to Ministry of Finance, the government has earmarked 42.1% of the budget allocations for repayment of loans. … Read More

KSE 100-Index hits all time high

KARACHI: Karachi Stock Market on Monday hits all time high closing KSE 100-Index at 30413.23 points with a positive change of 188.34 points or 0.62 per cent, ARY News reported. High and Low were 30493.33 and 30224.89 respectively.

Total volume … Read More

Petrol price likely to go up

KARACHI: The petroleum prices are likely to go up this month, sources said. According to sources, Oil and Gas Regulatory Authority (Ogra) is likely to suggest an increase of Rs1.45 per litre in petrol price, Rs1.56 in High Speed Diesel … Read More

Apple should do more to tackle in-app purchases problem: EU

BRUSSELS: Apple has provided no concrete and immediate solutions to tackle the problem of adults and children racking up credit card bills by making “in-app” purchases on tablets and mobile phones, the European Commission said on Friday. Following concerns raised … Read More

PIA privatization process to start from July 22

ISLAMABAD: Government of Pakistan has finally decided to privatize the state owned Pakistan International Airlines (PIA) and the process will start from July 22, 2014, ARY News reported. The national flag bearer will not only be privatized, thousands of employees … Read More

21st Century Fox likely to pursue Time Warner takeover despite rebuff

Rupert Murdoch’s 21st Century Fox Inc said on Wednesday that Time Warner Inc had rebuffed its offer to buy the company, but people familiar with his thinking say he is Rupert Murdoch’s 21st Century Fox Inc said on Wednesday that … Read More

BRICS set up bank to counter Western hold on global finances

FORTALEZA : Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system. The bank aimed at funding infrastructure … Read More