RIYADH: Saudi Aramco hit the $2 trillion target sought by de-facto Saudi leader Crown Prince Mohammed bin Salman on Thursday as its shares racked up a second day of gains, despite some scepticism about the state-owned oil firm’s value. Aramco’s initial public offering (IPO) is the centrepiece of the Saudi crown prince’s vision for diversifying the kingdom away from its …

The World Bank will provide $406.6 million for the Khyber Pass Economic Corridor (KPEC) project which will promote economic development and uplift areas adjoining the expressway and falling in Khyber Pakhtunkhwa (KP). An agreement to this effect was signed in Islamabad on Friday, according to a statement by the Economic Affairs Division. Economic Affairs Division Secretary Dr Syed Pervaiz Abbas …

ISLAMABAD: The Karachi-based Intelligence and Investigation department of the Federal Board of Revenue (FBR) has unearthed another scandal involving illegal transfer of over Rs5 billion to bank accounts and its withdrawal in Quetta without payment of taxes, Dawn has learnt from official sources. The amount has been transmitted into three bank accounts in Quetta. A tax official told Dawn that the FBR had identified …

The fourth day of the opening Test between Pakistan and Sri Lanka was called off without a ball being bowled on Saturday due to rain and a wet outfield. The two-match series marks Pakistan’s first Tests on home soil since an attack in 2009 on Sri Lanka’s team bus in Lahore. The weather-hit opening match has not had full play …

WELLINGTON: New Zealand running great Peter Snell, a triple Olympic gold medallist, has died at the age of 80, sports historian Ron Palenski said on Saturday. Palenski, a close friend, said Snell´s wife Miki had phoned him from their home in Dallas to tell him of the death. The couple were preparing to go shopping when “Peter nodded off, as …

RAWALPINDI: Pakistan Cricket Board, in a press release issued here on Friday, tried to defend the scheduling of the historic first Test against Sri Lanka in Pindi after nearly two thirds of the Test match has got washed out or cancelled due to bad light so far, thus depriving thousands of fans who had thronged stadium on all three days …

AHMEDABAD: The world’s biggest cricket stadium, with space for 110,000 spectators, is taking shape in India and is likely to host its first international match early next year. The new stadium in Ahmedabad, built at a cost of around $100 million, will seat more fans than Australia’s Melbourne Cricket Ground which can accommodate around 100,000 spectators. According to reports, the …

PERTH: Australia quick Mitchell Starc tore through New Zealand’s batting-order shortly before stumps on a dramatic day two, as the hosts gained a stranglehold of the first Test here at the Perth Stadium on Friday. In reply to Australia’s first innings of 416, New Zealand teetered at 109 for five at the close with veteran Ross Taylor unbeaten on 66 …

CAPE TOWN: Former South Africa captain Graeme Smith is the ideal candidate for the role of director of cricket for the home series against England that starts later this month, according to acting Cricket South Africa (CAS) chief executive Jacques Faul. CSA announced the interim appointment of Smith on Wednesday and he will stay in the role for a three-month …

Overnight rain and poor light continued to mar Pakistan’s first home Test in a decade on Saturday, with officials calling the fourth day off before play had begun. Groundsmen wiped water from the pitch covers and rolled out a super sopper, but overcast conditions and poor light forced umpires Richard Kettleborough and Michael Gough to call off play at noon. …