Oil slumps to two-week lows as markets fall, inventories climb
Brent lost 2.2 percent on Wednesday and on Oct 3rd it hit a four-year high of $86.74
Remittances climb up by 13 percent to $5.419b during first quarter of FY19
Remittances from Saudi Arabia grew 2.85 percent to $1.263 billion which was the highest source of remittances in the first quarter of FY19
Car sales inch up by 1.1 percent in July-September 2018
The country’s auto sales grew by 3 percent YoY in September 2018, breaking the trend of falling volumes in the past couple of months
Veon withdraws offer for subsidiary’s stakes in Pakistan and Bangladesh
In July, Global Telecom Holding (GTH) had said it received an offer from VEON Ltd to purchase its assets in Jazz and associated operations in Pakistan for $2.55 billion
Pakistani rupee, the cheapest currency in South Asia: Report
The International Monetary Fund (IMF) has currently projected Pakistan’s current account deficit will contract from 5.9 percent of GDP in 2018 (the worst in emerging markets) to 5.3 percent of GDP in 2019 (again the worst in EM)
Saudi Arabia to supply about four million barrels of extra oil to India in November: sources
India is Iran’s top oil client after China, though several refiners have indicated they will stop taking Iranian barrels because of the sanctions
Domestic cement consumption rebounds, grow 18.9 percent in September
Southern region exports also surged by a gigantic 212.13 percent to 1.044 million tons against 0.334 million during July-September 2017
Dubai Islamic Bank posts Rs1,853m profit after tax
KARACHI:Â Dubai Islamic Bank Pakistan Limited, a wholly owned subsidiary of Dubai Islamic Bank UAE, in its recent board meeting held in Dubai...
ECC forms special committee to resolve stalled K-Electric sale
With Abraaj teetering on the verge of bankruptcy, was Arif Naqvi's meeting with PM Imran Khan meant to extract a return favour for the investment made in PTI's election campaign of 2013, as alleged by his ex-wife Reham Khan
Oil prices rise on signs that Iranian crude exports fall further
Iran’s crude exports fell further in the first week of October, according to tanker data and an industry source
Hascol Petroleum completes acquisition of Marshal Gas’s LPG plant for Rs175 million
In March last year, Hascol Petroleum in partnership with Vitol formed a new company called VAS LNG (Private) Limited that will deal with the activities relating to the LNG sector.
Govt committed to establishing water & hydropower projects
LAHORE:Â The Federal Minister for Water Resources Muhammad Faisal Vawda said on Monday that the government was committed to constructing water and hydropower...
SBP drafts regulations for EMIs
These regulations outline minimum requirements for establishment and operations of EMIs
Automobile sector to face the pinch, as car bookings plummet by 30 percent
The ban was enforced from the 1st of July of the current financial year 2018-19 and a source in the automobile industry shared the trend of car booking during this period reveals annual auto sales will plunge to 168,000 from 240,000 units
Germany probes Audi over South Korea ‘fraud’: report Â
BERLIN:Â German prosecutors are investigating whether Audi fraudulently obtained authorisations for some cars in South Korea by falsifying chassis numbers and test records,...