Business News
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SBP to launch financing facility for maize crop | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) is all set to launch Electronic Warehouse Receipt Financing (EWRF) for maize crop on Tuesday, the central bank announced in a statement. At a ceremony to be held in Chunian tehsil, Kasur district, banks will sign system usage agreements to commence operations under the newly developed system.…
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Contraband steel threatens local industry | The Express Tribune
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[ad_1] KARACHI: Large steel producers of the nation have said that smuggled steel from Afghanistan and Iran was destroying the domestic industry. In a letter written to the Federal Board of Revenue Member Customs Operations Syed Muhammad Tariq Huda, Pakistan Association of Large Steel Producers (PALSP) General Secretary Syed Wajid Bukhari stated that contraband steel…
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LNG industry rebounds in 2021 | The Express Tribune
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[ad_1] ISLAMABAD: As economies rebound from the impact of Covid-19 pandemic, the global trade of liquefied natural gas (LNG) registered an increase of 6% to 380 million tonnes in 2021, according to a report published by an energy company on Monday. The rising LNG demand coupled with supply constraints kept gas prices volatile throughout the…
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CDWP okays scheme for railways | The Express Tribune
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[ad_1] ISLAMABAD: The Central Development Working Party (CDWP) on Monday approved the Replacement of Track Machines project, which envisaged procurement of track lifting, levelling, aligning and tamping machine with integrated stabiliser and self-propelled track inspection and recording car. The approval was given in a meeting chaired by Planning Commission Deputy Chairman Mohammad Jehanzeb Khan. The…
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Nickel hits its highest level since 2011 on Russia unrest, tight supply
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[ad_1] Nickel hits 2011 high on Russia unrest. — Glencore LONDON: The price of nickel, a key component in stainless steel and electric car batteries, hit the highest level in more than a decade Monday on Russia-Ukraine tensions and tight supplies. Russia is one of the world’s largest producers of nickel plus other key commodities…
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Market watch: Geopolitical turmoil takes toll on bourse | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange witnessed a dreary session on Monday, as the benchmark KSE-100 index lingered in negative territory for most of the day and finally closed lower by 313 points. Taking cue from the bearish global equities due to prevailing tensions between Russia and Ukraine, Pakistan’s bourse remained under pressure and market players…
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Oil rises as tight market looks to Russian-Western diplomacy | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Monday as fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from supply concerns that have kept oil prices near $100 a barrel. Brent crude futures were up $0.41, or 0.4%, at $93.95 a barrel at 1225 GMT. US West Texas Intermediate (WTI) crude futures rose $0.49,…
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Arresting the soaring trade deficit | The Express Tribune
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[ad_1] KARACHI: The robust increase in exports is often regarded as one of the biggest achievements of the government by different ministers, and rightly so. But the positive impact of double-digit increase in exports is being offset by the surge in imports. In fiscal year 2018-19, when the current PTI government came to power, Pakistan…
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Focus on improving productivity | The Express Tribune
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[ad_1] KARACHI: My previous article, titled “Need for export-oriented strategies”, highlighted the low level of exports as a percentage of GDP in Pakistan and the importance of improving global and regional integration. Pakistani producers must become more productive to achieve sustainable growth in exports. This will help address the external account challenges and escape from…
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Rampant commodity speculation | The Express Tribune
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[ad_1] LAHORE: The print and electronic media is highlighting the upward revision in prices of petroleum products by mentioning that the current level of prices has set a record. Some commentators are of the opinion that the prices may cross Rs200 per litre in the days to come, which implies that many people are bullish…
