China’s stimulus plans also failed to inspire investor confidence while markets continued to watch for potential Israeli attacks on Iranian oil infrastructure. PHOTO: REUTERS SINGAPORE: Chinese independent refiners have bought Iranian oil at premiums to Brent for the first time in years, after benchmark prices fell and amid expectations that India might purchase more cargoes…
A hydrocarbon facility in Qatar. PHOTO: oilandgasmiddleeast.com ISLAMABAD: The local gas industry has welcomed the US-Iran ceasefire by terming it a gateway to substantive future progress in international oil and gas trade, which will lower global inflation and fiscal pressure by normalising trade routes. The regional development will also lead to significant progress in Pakistan’s…
The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, U.S., April 21, 2017. REUTERS ISLAMABAD: The World Bank on Thursday cut Pakistan’s economic growth forecast to 3% for this fiscal year due to adverse implications of the Middle East war, which is significantly lower than the estimates that Islamabad…
State Bank of Pakistan. Photo: File KARACHI: Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a modest increase of $19 million on a weekly basis to reach $16.4 billion, according to the latest data released by the SBP. The country’s total liquid foreign reserves stood at $21.89 billion, indicating a…
Experts say sustainable future of Pakistan’s maritime sector is in green shipping plan. PHOTO: EXPRESS ISLAMABAD: Pakistan and Ethiopia have agreed to explore the establishment of a trilateral maritime alliance, potentially involving Djibouti, aimed at enhancing trade connectivity between Asia and Africa. The understanding was reached during a meeting between Federal Minister for Maritime Affairs…
Gains driven by easing Middle East tensions as investors eye reopening of Hormuz shipping route A man walks past a screen displaying stock index prices outside a brokerage in Tokyo, Japan, on March 30, 2026. PHOTO: REUTERS Asian stocks advanced on Friday, putting them on track for their best week in more than three years,…
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY KARACHI: Gold and silver prices increased in local markets on Friday after a surge in the international bullion market. The price of gold per ounce rose by $30, reaching $4,753. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), in the…
Flags recovery but warns inflation may rise to 6.5% by FY2027 amid global uncertainty, Middle East tensions A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila. Photo: Reuters/ File Pakistan’s economy is expected to grow by 3.5% in fiscal year 2026 and 4.5% in FY2027, as a recovery in manufacturing and…
Iran renewed attacks on the United Arab Emirates on Tuesday, causing oil loading at the port of Fujairah to be at least partly halted after the third attack in four days. FILE IMAGE: PIXABAY HOUSTON: Oil prices pared gains to rise about 1% on Thursday after Israel said it would start direct negotiations with Lebanon…
Three-day event to showcase diversity, competitiveness as economy shows cautious optimism KARACHI: As the economy is rebounding, the industrial city of Gujranwala, widely regarded as a byproduct of Pakistan’s Green Revolution in the 1960s, is set to showcase its industrial strength, innovation and craftsmanship at a three-day exhibition at the Karachi Expo Center from April…