ISLAMABAD: State-run Oil & Gas Development Company Ltd (OGDCL) on Monday announced to have started drilling of first shale gas well in Hyderabad for exploration of unconventional hydrocarbon deposits. The company said in a statement that it had technically planned to drill the well, named KUC-01, in two phases. “The first well is planned to be drilled in vertical section …

ISLAMABAD: The Competition Comm­ission of Pakistan (CCP) has imposed a fine of Rs75 million on Pakistan Flour Mills Association (PFMA) for fixing the price of wheat flour, fixing the quantities of production of wheat flour among its members and providing a platform to share commercially sensitive information. The commission took notice of various news items suggesting an unusual price hike …

KARACHI: Stocks maintained the rising momentum on Monday as the KSE-100 index stormed past 41,000-level to settle firmly at 13-month high 41,644.88. It indicated massive gains of 728.29 points (1.78 per cent) with market capitalisation up by Rs178 billion to cross over Rs8 trillion. The index opened bullish and kept climbing to touch intraday high of 782 points. Oil and …

ISLAMABAD: Pakistan is required to undertake structural reforms to improve its exports for attaining a sustainable economic growth rate of above 3.8 per cent, suggests a new study released by the Asian Development Bank on Monday.The study — Why Pakistan’s Economic Growth Continues to be Balance of Payments Constrained — says this requires an upgrade in the country’s international specialisation …

ISLAMABAD: Estimating power sector losses rising by four per cent since the financial year 2016 to 29pc, the Asian Development Bank (ADB) and the government have agreed to raise about Rs469 billion revenues through consumer tariff during the current fiscal year and shift about Rs800bn of the circular debt stock to public debt in three years. This is part of …

WELLINGTON: Uncapped paceman Kyle Jamieson was drafted into the New Zealand Test squad Tuesday after injury sidelined Lockie Ferguson for the rest of the Test series against Australia. The Black Caps had high hopes that Ferguson´s lightning pace would make an impression on his Test debut in Perth, but he pulled up with a calf strain on the opening day …

LONDON: Ben Stokes starred as England won the World Cup for the first time before producing one of the most memorable innings in Ashes history as Australia´s Steve Smith enjoyed a successful return to the international stage after the ´sandpaper´ ball-tampering scandal. But they were not the lone standout performers in 2019. Below AFP Sport looks back at five memorable …

JOHANNESBURG: South Africa on Monday named six uncapped players in a 17-man squad for the first two of the four-Test home series against England, starting at Centurion on Dec 26. Five players who played in a recent 3-0 series defeat in India were dropped, while fast bowler Lungi Ngidi was not considered because of a hamstring injury. The squad will …

LAHORE: After conclusion of the ICC Women’s Championship ODI series, the focus has now shifted to the shorter format of the game with Pakistan and England women locking horns in three T20 Internationals at Kinrara Oval in Malaysia from Tuesday. With the ICC Women’s T20 World Cup 2020 in Australia just two months away, the series provides both the teams …

LAHORE: Director National Cricket Academy (NCA) and former Test all-rounder Mudassar Nazar on Monday hailed world record maker Abid Ali’s feat in the Rawalpindi Test and said the opener has a lot of talent and should have played for Pakistan a couple of years ago. In an exclusive interview with Dawn, Mudassar also stressed on the importance of club cricket …