Business News
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Oil tops $110, equities sink on rising Ukraine war fears
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[ad_1] Brent topped $110 for the first time since 2014, while WTI moved closer to that figure.- The News/File HONG KONG: Crude surged past $110 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Vladimir Putin’s invasion of his neighbour…
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Oil spikes past $110 as markets avoid Russian supply | The Express Tribune
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[ad_1] LONDON: Oil prices surged to seven-year highs on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures gained $5.30, or 5%, to $110.23 a barrel at 0419 GMT, a level…
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‘Long-term policies to steer sustainable growth’ | The Express Tribune
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[ad_1] LAHORE: The incentives announced by Prime Minister Imran Khan under the industrial package will provide impetus to economic growth and lead the country towards economic prosperity, said Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar. Addressing a ceremony at the Governor House on Tuesday, he said that enhancing manufacturing base was vital to…
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Telecom sector posts record Rs644b revenue in FY21 | The Express Tribune
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[ad_1] KARACHI: The telecom sector posted the highest-ever revenue of Rs644 billion in fiscal year 2020-21 as compared to the revenue of Rs592 billion in the previous year. The sector attracted $202 million in foreign direct investment (FDI) and contributed Rs226 billion to the national exchequer, according to Pakistan Telecommunication Authority’s (PTA) annual report for…
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Oil rises 9% as reserve release disappoints | The Express Tribune
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[ad_1] NEW YORK: Oil prices surged 9% on Tuesday, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia’s invasion of Ukraine, and instead underscored concerns about growing disruptions. Members of the International Energy Agency (IEA), which include the United States and Japan, agreed to release 60 million…
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Inflation eases to 12.2% in February | The Express Tribune
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[ad_1] ISLAMABAD: The inflation rate eased to 12.2% in February 2022 due to the slow pace of increase in prices of non-food items but food inflation rose again on the back of surge in prices of perishable goods, the Pakistan Bureau of Statistics (PBS) reported on Tuesday. There was a significant rise in prices of…
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K-Electric tariff may rise by Rs2.9 | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is all set to allow an increase of Rs2.9 per unit in K-Electric’s tariff on account of fuel cost adjustment (FCA) for January 2022. The prime minister’s relief package echoed in a public hearing of K-Electric’s petition for a tariff hike of Rs3.4 per unit under…
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Profits of listed companies jump 47% | The Express Tribune
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[ad_1] KARACHI: The top 100 companies listed at the Pakistan Stock Exchange (PSX) posted a hefty increase of 47% in their net profit to an all-time high at Rs940 billion in the year ended December 31, 2021. However, the benchmark KSE 100 index – containing the best 100 firms – failed to exhibit a similar…
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Businessmen laud govt for reducing petrol, power cost | The Express Tribune
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[ad_1] The reduction of Rs10 per litre in prices of petroleum products and Rs5 per unit in electricity tariff will relieve the public during the ongoing tough times, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. In a statement on Monday, he lauded the relief measures extended to the public and…
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Semiconductor industry can bring $4b annually | The Express Tribune
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[ad_1] BEIJING: The semiconductor chain has penetrated into nearly every aspect of modern life and semiconductor has blossomed into a multitrillion-dollar industry. According to SEMI 2020 report, the global semiconductor market for just chips is currently valued at around $425 billion per year and by some estimates, it is forecast to hit $1 trillion by…
