Express
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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…
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Banks reluctant to open LCs for oil import | The Express Tribune
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[ad_1] KARACHI: The Oil Companies Advisory Council (OCAC) has once again approached the State Bank of Pakistan (SBP) governor, requesting him to intervene following reluctance of banks to open Letters of Credit (LCs) for oil import in the wake of rapidly rising crude prices. The oil industry group, comprising refineries and oil marketing companies (OMCs),…
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World’s biggest crypto exchange refuses to block Russian accounts | The Express Tribune
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[ad_1] Cryptocurrency exchange Binance refused to ‘freeze’ accounts of Russian users, despite requests coming from Ukraine, where Russian troops are currently conducting a military operation, RT reported. “We are not going to unilaterally freeze millions of innocent users’ accounts,” a spokesperson for Binance told CNBC on Monday. “Crypto is meant to provide greater financial freedom…
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Market watch: Stocks rally on PM’s relief package | The Express Tribune
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[ad_1] KARACHI: Bulls maintained their grip on the Pakistan Stock Exchange on Tuesday, as the announcement of a relief package by Prime Minister Imran Khan instilled a ray of optimism among investors. The benchmark KSE-100 index stayed in the positive territory throughout the day and staged a handsome rally, gaining 342 points by the end…
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Oil prices soar as Ukraine conflict stokes supply concerns | The Express Tribune
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[ad_1] LONDON: Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release. May Brent crude futures were up $5.14, or 5.25%, to $103.11 a barrel by 1145 GMT. The benchmark touched a seven-year high of $105.79 after the…
