Asia Top News and Analysis Pakistan

  • Gold Bricks

    The International Monetary Fund's executive board on Friday was discussing selling some of the fund's gold to provide low-interest loans to poor countries and shore up its internal finances.

  • Andrew Busch

    While the loss of life in Mumbai is horrific, the financial markets are reacting by selling risk and this is manifested in selling equities and buying US dollars. We have not seen any panic running into short-term US Treasuries.

  • PAKISTAN.jpg

    The International Monetary Fund has agreed to lend Pakistan $9 billion, a source familiar with the negotiations told CNBC. There will also be another meeting in November to negotiate for more aid with Gulf countries.

  • The Pakistani government will ask for $10 billion from the International Monetary Fund on Monday, CNBC has learned.

  • PAKISTAN.jpg

    The Pakistani government will ask for $10 billion from the International Monetary Fund on Monday, CNBC has learned.

  • Pakistan President Pervez Musharraf.

    Nuclear-armed Pakistan's beleaguered President Pervez Musharraf announced his resignation on Monday in the face of an impending impeachment motion by the ruling coalition government.

  • Pakistan President Pervez Musharraf.

    Pakistan's President Pervez Musharraf will resign rather than face impeachment by parliament, the Financial Times said on its Web site, citing government officials and a member of his circle.

  • Malaysia

    Malaysia's largest lender, Malayan Banking, has bought a strategic stake in Pakistan's MCB Bank for $680 million, betting on a brighter economic future for the troubled frontier state.

  • Pakistani woman voter casts her vote in the conservative city of Peshawar, Pakistan on Monday, Feb. 18, 2008. Pakistanis voted Monday for a new parliament in elections shadowed by fears of violence and questions about the political survival of President Pervez Musharraf, America's key ally in the war on terror. (AP Photo/B.K.Bangash)

    Pakistani President Pervez Musharraf's opponents headed for election victory on Tuesday after voters rejected his former ruling party, raising questions about the future of the U.S. ally who has ruled since 1999.

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    India's lucrative outsourcing industry struggled Thursday to overcome Internet slowdowns and outages after cuts in two undersea cables sliced the country's bandwidth in half.

  • Pakistan President Pervez Musharraf.

    Keeping food and energy prices under control while presiding over a growing economy will be a key task for any government that emerges from the February elections, Finance Minister Salman Shah tells CNBC.com.

  • Locals ride a canoe past oil instalations belonging to the Mobil oil company in Bonny Island, Nigeria, Thursday, Aug. 17, 2006. Militant groups using kidnappings and sabotage attacks to press their demands for a share of the region's oil wealth, which they accuse the central government of stealing, have made southern Nigeria a volatile place. (AP Photo/George Osodi)

    Oil retreated further from the $100 a barrel mark on Friday as gloomy U.S. jobs data heightened concern over the health of the U.S. economy. Equities markets and the dollar also fell after a government report showed the U.S. unemployment rate rose to 5 percent in December -- its highest in more than two years.

  • oil_rigs_AP.jpg

    Oil fell Thursday as traders took profits from a record rally that had pushed oil to $100 per barrel two days in a row -- a level that has raised a red flag over global economic growth.

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    Oil prices, which on Wednesday hit $100 a barrel for the first time, will probably go up further in the next five years unless economic growth falters and slows fuel demand.

  • Locals ride a canoe past oil instalations belonging to the Mobil oil company in Bonny Island, Nigeria, Thursday, Aug. 17, 2006. Militant groups using kidnappings and sabotage attacks to press their demands for a share of the region's oil wealth, which they accuse the central government of stealing, have made southern Nigeria a volatile place. (AP Photo/George Osodi)

    Oil closed at a record $99.62 a barrel after briefly hitting $100, as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying.

  • Pakistan's Election Commission on Wednesday postponed a general election by six weeks due to the turmoil sparked by the assassination of Benazir Bhutto.

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    U.S. crude futures finished a volatile session slightly lower, slipping from an earlier high in thin, pre-holiday trading as traders squared books at year's end and January products futures contracts approached expiration.

  • Benazir Bhutto

    Pakistan will delay parliamentary elections by at least four weeks after a wave of violence triggered by the assassination of Benazir Bhutto.

  • Benazir Bhutto

    Pakistan's Election Commission will decide on Tuesday whether to postpone a Jan. 8 general election meant to complete a transition to civilian rule, a commission official said on Monday.

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    Oil prices fell in late trading to close lower after being up most of the day on U.S. supply concerns, the slumping dollar and mounting tensions in Pakistan and northern Iraq.