Business

China’s ambitious Shanghai Free Trade Zone is designed to welcome foreign investment and open up an attractive yuan-denominated financial sector to the rest of the world. But it’s hard to boast about the free trade credentials behind the Great Firewall of China, so media outlets and social networks that are...

KARACHI: The Karachi stock market witnessed a massive decline on Tuesday as decline in the local currency’s value against the dollar, futures rollover week and confusion over brokers’ net capital affected the investor sentiment. The Karachi Stock Exchange (KSE) 100-share index shed 551.48 points or 2.33 percent to close at...

The implosion at BlackBerry (BBRY) has been stunning. Back in 2008, the company had a market value of over $80 billion. As of now, it’s only $4.3 billion. In fact, over the past three years, the company’s market share in North America plunged from about 70% to a meager 5%...

So the deal that should have been done 2 years ago is at last completed: Microsoft MSFT is buying most of Nokia to take control of its smartphone destiny. The 5.44 billion euros ($7.2 billion) deal announced late Monday marks a major step in Microsoft’s push to transform itself from a software maker focused...

At least one million cockroaches have escaped a farm in China where they were being bred for use in traditional medicine, a report said. The cockroaches fled the facility in Dafeng, in the eastern province of Jiangsu, for surrounding cornfields earlier this month after an “unknown perpetrator” destroyed the plastic...

Pakistan is set to become a net wheat importer this year with purchases climbing to the highest in five years after delayed planting and reduced fertilizer use hit domestic output and drove up local prices. The South Asian nation, which has been exporting wheat for the last three years, joins...

Apple's share of the smartphone market dropped in the second quarter to its lowest level in three years, research firm Strategy Analytics said. The share of the iPhone slipped to 13.6 percent in the quarter from 16.6 percent in the same quarter last year. The largest vendor Samsung Electronics, however,...

ISLAMABAD: Despite obtaining a $5.3 billion bailout package from the IMF and multi billion dollars from other donors, Pakistan will be facing a financing gap of $1.2 billion during the current fiscal year that will result into drawing down of foreign current reserves continuously in 2013-14. Finance Minister Ishaq Dar...

MUMBAI: The Indian rupee hit a record low on Monday, escalating worries about the country's current account deficit and complicating the task of the central bank as it tries to loosen monetary conditions to spur an economic recovery. The Foreign investors have been heavy sellers in recent weeks of Indian debt, a...

PHILADELPHIA (CBS) – A career site has released its rankings of the worst and best jobs of 2013. According to CareerCast.com a newspaper reporter was ranked as the worst job of 2013 while an actuary was ranked as the best. CareerCast.com says they reviewed a wide range of aspects that were categorized in four...

A massive earthquake struck Iran near the border with Pakistan on Tuesday and an Iranian official has confirmed 75 casualties and fears hundreds of people were have been killed. Initial reports are coming  - INCPak is updating this developing story. Tremors from the 7.8 magnitude quake were also felt in India and Gulf states,...

A lot of you who are big fans of messaging app Whats App  a popular, cross-platform, instant messaging application for smartphones. If you’re holding a mobile device, odds are there is a Whats app application available for it. The company launched in 2009 and quickly did to SMS what Skype did to international calling...