KARACHI – The energy-starved Pakistan has signed a Memorandum of Understanding (MoU) with the government of Qatar for import of 500 million cubic feet of Liquefied Natural Gas (LNG) per day. This was stated by Prime Minister Yusuf Raza Gilani while inaugurating the Rs2.55 billion LPG Terminal here on Saturday at Port Qasim. “I am happy to inform you that during my recent visit to the brotherly... 

CHINA: China’s Premier Wen Jiabao said Tuesday his country was ready to increase its participation in efforts to resolve Europe’s debt crisis, after holding talks with EU leaders in Beijing. Wen said China wanted to see Europe — its biggest trading partner — “maintain stability and prosperity”, a day after ratings agency Moody’s downgraded Italy, Spain and... 

NEW DELHI: Industrial output growth slowed to 1.8% in December due to sustained sluggishness in the manufacturing sector and decline in mining and capital goods sectors. Data released by the Central Statistics Office on Friday showed the index of industrial production rose 1.8% in December, lower than the 5.9% growth posted in November and 8.1% registered in the same year-ago month. During April and... 

Official figures reveal that the British economy faces a looming double-dip recession, having shrunk by 0.2 percent in the last quarter. Figures released by Britain’s Office of National Statistics shows that the British economy contracted by 0.2 percent, despite forecasts of a 0.1 percent contraction. If the contraction in the country’s Gross Domestic Product (GDP) is not revised upwards... 

New Delhi offers to export petrol and diesel to Pakistan. NEW DEHLI: Economic ties between Pakistan and India were already warming up – further acceleration may now be provided by Indian fuel – literally. The country offered to export petrol and diesel to Pakistan and said its domestic refineries might even consider building a pipeline if Pakistan provides long-term guarantees. “India mooted... 

The World Bank warned developing countries on Wednesday to prepare for the real risk that an escalation in the euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09. In a report sharply cutting its world economic growth expectations, the World Bank said Europe was probably already in recession. If the euro area debt crisis deepened, global economic forecasts...