At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold prices saw a minor decline in Pakistan on Saturday after prices in the international bullion market dropped by $7 per ounce, bringing the new global rate to $1,746 per ounce. Following global trends, local bullion markets also experienced a decline. The…
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 NEW YORK: Oil prices rose towards $100 a barrel on concerns over Saudi Arabia supply disruptions and limited flows through the…
Says temporary suspension part of efforts to stabilise system while maintaining supply to priority segments KARACHI: Sui Southern Gas Company (SSGC) announced on Saturday a 24-hour suspension of gas supply to the industrial sector across Sindh due to a shortfall in the system, aimed at improving pressure and ensuring fair distribution. According to a statement…
Syed Nasir Hussain Shah. PHOTO: Syed Nasir Hussain Shah KARACHI: Sindh Minister for Local Government, Housing and Town Planning Syed Nasir Hussain Shah has said that they will provide all facilities to the industrialists of Gujranwala for establishing their businesses and industries in Karachi. “We will provide single-window facilities to the industrialists from Gujranwala,” he…
ISLAMABAD: Hopes are running high that Pakistan and Iran may revive their gas and oil pipeline projects following peace talks between Iran and the United States. Pakistan and Iran had signed a commercial agreement during the tenure of Pakistan Peoples Party (PPP) in 2009 and later then Iranian president Mahmoud Ahmadinejad and Pakistan’s former president…
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…