Brent drops to $106, WTI to $101 as fragile Iran ceasefire, Trump-Xi summit fuel market uncertainty An oil tanker anchors near the oil hub of the port of Fos-Lavera at sunset near Marseille, southern France. PHOTO: REUTERS Oil prices fell on Wednesday, snapping a three-day rally as investors awaited developments around the fragile Middle East…
KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday witnessed a mixed yet largely negative session as investors remained cautious amid geopolitical uncertainty surrounding US-Iran peace negotiations. After commencing trading on a firm footing, the benchmark KSE-100 index moved higher in early trade as renewed buying interest pushed the market to the intra-day high of 171,571.56…
LAHORE: Federal Minister for Energy (Power Division) Awais Ahmed Khan Leghari on Tuesday announced that no new imported fuel-based Independent Power Producers (IPPs) would be established in the country, while the government plans to shift 10 million electricity consumers to Advanced Metering Infrastructure (AMI) meters during the current year. Addressing a workshop on power-sector fundamentals…
KARACHI: Pakistan and China have signed more than 300 memorandums of understanding (MoUs) and over three dozen joint venture agreements over the last two years, with a cumulative value exceeding $13 billion, Pakistan’s Ambassador to China Khalil Hashmi has said, according to a statement issued on Monday. Speaking at a meeting with a 70?member Chinese…
CEO stresses technology, market access; D-8 meeting targets $500b intra?trade by 2030 LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) has reaffirmed its commitment to promote regional economic cooperation through B2B linkages, knowledge sharing and market facilitation at the 9th meeting of the D-8 SME Governmental Bodies, according to a statement issued on Monday….
ISLAMABAD: A delegation of National Steel Complex Limited met Federal Minister for Commerce Jam Kamal Khan to discuss issues relating to industrial competitiveness, tariff rationalisation, value-added manufacturing, and operational challenges being faced by steel and engineering sectors. The delegation briefed the minister on concerns arising from the existing duty structure applicable to raw materials, intermediate…
Trading volume stands at 284,031,410 shares with a total traded value of Rs12,022,767,811 Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express KARACHI: In a volatile trading session on Tuesday, the Pakistan Stock Exchange (PSX)…
ISLAMABAD: Pakistan LNG Limited (PLL) has rejected bids for two spot liquefied natural gas (LNG) cargoes, which demanded higher rates and could force consumers to pay an additional $22 million for one LNG cargo. At a briefing, the Senate Standing Committee on Petroleum was informed that an LNG cargo was expected to arrive at Karachi…
ISLAMABAD: The petroleum division is set to move a summary to the Economic Coordination Committee (ECC) to amend the oil refinery policy, aiming to remove sales tax on the import of machinery and address the issue of operational sales tax, according to an official statement. Federal Minister for Petroleum Ali Pervaiz Malik chaired a high-level…
KARACHI: Investors offloaded their holdings at the Pakistan Stock Exchange (PSX) on Monday over uncertainty surrounding US-Iran negotiations for a peace deal, which pulled the KSE-100 index down by 610 points. In the morning, trading commenced on a negative note, with the benchmark index sliding 1,433.57 points, or 0.84%, within minutes to hit 169,682.25 at…