Category: Business

ISLAMABAD: The federal government on Friday reiterated that people of Pakistan — not any particular province — have the first right of use over natural gas as they are its ultimate owners. In a written rejoinder to the Sindh chief minister’s assertions that the province was being deprived of its due share of gas, the […]

LONDON: Oil slipped further towards $65 a barrel on Friday as tensions in the Middle East over Iran eased for now and investors focused on rising US inventories and other signs of ample supply. Iran responded to a US drone strike that killed a top Iranian general on Jan 3 with a missile attack on […]

BEIJING: China said on Thursday that Vice Premier Liu He will travel to Washington next week to sign the “phase one” deal with the United States that has lowered trade tensions between the world’s two biggest economies. The signing will cap a nearly two-year spat that threatened to throttle the global economy as the two […]

WASHINGTON: The World Bank says the global economy should see a modest rebound in growth this year. But the 189-nation lending institution is cautioning that a number risks could upend its forecast, including the possibility of renewed trade hostilities between the world’s two biggest economies, the United States and China. In an updated economic outlook […]

KARACHI: Owing to persistent depressed demand the tractor sales plunged to 15,200 units during the first half year of 2019-20 from 38,000 units in the same period last year. In recent years the tractor manufacturers have been facing sharp decline in demand mainly due to poor performance of the agriculture sector especially failure of cotton […]

ISLAMABAD: Federal Board of Revenue (FBR) top tax officials on Thursday met with traders’ representatives to review progress on the agreement towards implementing CNIC condition on sale and purchase of goods from Feb 1. This was the first time both sides have met since the relief package for traders was announced through a Presidential Ordinance […]

Asian stock markets rebounded Thursday as anxiety over potential US-Iranian conflict eased. Tokyo’s benchmark gained more than 2 per cent. Shanghai, Hong Kong and Southeast Asia markets also advanced. Markets sank after Tehran retaliated for the US killing of an Iranian general by launching missiles at American bases in Iraq. But anxiety subsided after reports […]

ISLAMABAD: The multi-billion dollar Turkmenistan-Afghanistan-Pakistan-India (Tapi) Pipeline project has hit fresh snags as its two major stakeholders and prospective gas purchasers — Islamabad and New Delhi — have sought gas price openers before the project could physically take off. On Wednesday, Pakistan formally constituted a five-member price negotiation committee (PNC) to begin talks with Turkmenistan […]

Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in Iraq over the last week — higher insurance bills. According to industry sources, payments known as war risk […]

Airlines are facing higher fuel bills as they reroute flights to avoid airspace over Iran and Iraq due to recent heightened tension between Washington and Tehran, adding further financial pressure to an industry already contending with the prolonged grounding of Boeing’s 737 MAX jets. Tensions in the region surged after a US drone strike killed […]