Tribune
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Cotton production slows as white fly attacks crop | The Express Tribune
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[ad_1] KARACHI: Pakistan has reported a jump of 62% in cotton production to 5.99 million bales in the first three and a half months of the current season, reducing reliance on imports significantly. The production of the commodity, however, slowed down in recent weeks compared to the initial growth of around 80% as “white fly…
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Oil surges 2% amid US storage draw | The Express Tribune
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[ad_1] NEW YORK: Oil prices climbed about 2% to a two-week high on Wednesday on a bigger-than-expected US storage draw and as rising tensions in the Middle East threaten to disrupt oil supplies from the region, with Iran calling for an oil embargo on Israel. Brent futures rose $1.46, or 1.6%, to $91.36 a barrel…
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Plan for G2G oil deal with Russia shelved | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to shelve plans for a long-term oil import deal with Russia under a government-to-government (G2G) arrangement and has allowed refineries to strike direct commercial agreements with companies of the European nation. Earlier, Pakistan and Russia agreed to set up a Special Purpose Vehicle (SPV) with the objective of crude…
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Rupee falls first time in four weeks | The Express Tribune
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[ad_1] KARACHI: After recovering 11% in the past 28 consecutive working days, Pakistani currency on Tuesday depreciated 0.07% and closed at Rs277.03 to a dollar in inter-bank market on the back of uptick in demand for the greenback. Market talk suggests the rupee has reached its “fair value” at Rs277/$ and the slight correction did…
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Turkiye eyes $5b trade in next two years | The Express Tribune
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[ad_1] KARACHI: Ambassador of Turkiye to Pakistan Dr Mehmet Pacaci has said that Pakistan and Turkiye can easily push bilateral trade to $5 billion in the next one to two years. However, in the long term, the bilateral trade could reach $20-25 billion, he anticipated. “We should make full use of mutually shared multilateral platforms…
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Development spending halts | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s federal development spending has come to a grinding halt as a mere Rs57 billion, or equal to 6% of annual budget, was spent during the first quarter of this fiscal year, which delayed the execution of some crucial projects but compensated for fiscal slippages in other areas. Half of the total amount,…
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Pace of rupee rise slows down | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its uptrend in inter-bank market for the 28th successive working day on Monday but it gained less than Rs1 against the US dollar for third day in a row, indicating the currency is gradually entering the stabilisation phase. Earlier, on most of the days in the past four weeks, the…
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Roosevelt Hotel may be declared cultural heritage | The Express Tribune
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[ad_1] ISLAMABAD: As efforts are accelerated to sell Roosevelt Hotel, Pakistan has expressed hope that New York authorities will declare the hotel as a cultural heritage after completion of 100 years since its construction. The matter was highlighted in a recent meeting of the Cabinet Committee on Privatisation (CCOP). The caretaker government has directed the…
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Oil dips on report of US-Venezuela deal | The Express Tribune
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[ad_1] HOUSTON: Oil futures fell on Monday on a report the US and Venezuela could soon reach a deal to ease sanctions on Venezuela if a presidential election date is set, while traders see the Israel-Hamas conflict not affecting crude supplies in the short term. Brent futures were down 59 cents, or 0.67%, at $90.27…
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Triggering Sixth Extinction | The Express Tribune
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[ad_1] ISLAMABAD: Over the Earth’s 4.5-billion-year history, five catastrophic extinctions have changed its biological foundation. The Ordovician-Silurian Extinction, 443 million years ago, was likely caused by severe ice ages, whereas the Devonian Extinction, 359 million years ago, was caused by changing ocean oxygen levels. The worst, the Permian-Triassic Extinction, killed most life 252 million years…
