The business community has appeared sceptical about the petition filed by the Sui Southern Gas Company Ltd (SSGCL) to the Oil and Gas Regulatory Authority (Ogra) seeking an increase of Rs667.44 per mmBtu in its prescribed prices for FY23. Businessmen said that industries should not be overburdened and gas price hikes should be applied to fertiliser, commercial and domestic sectors as well. T
Twitter’s new owner Elon Musk said on Monday the social media company is holding off the relaunch of its blue check subscription service, a delay from his initial tentative timeline to bring back the service on the platform. “Holding off relaunch of Blue Verified until there is high confidence of stopping impersonation,” Musk said in a tweet. “Will probably use different color check for orga
Oil prices rose slightly in early Asian trade on Tuesday, a day after Saudi Arabia denied a media report that it was discussing an increase in oil supply with the Organisation of Petroleum Exporting Countries (Opec) and its allies. Brent crude futures rose 17 cents, or 0.2 per cent, to $87.62 by 0007 GMT. US West Texas Intermediate (WTI) crude futures for January began trading Tuesday, rising s
Foreign direct investment nosedived 52 per cent during the first four months of the current fiscal year (FY23), reflecting the poor economic health and political instability in the country. The State Bank of Pakistan’s latest data issued on Monday showed that the FDI fell to $348.3 million in July-October FY23 from $726.5m during the same period of the last fiscal year (FY22). The FDI has be
The benchmark index of the Pakistan Stock Exchange closed lower on Thursday even though the market opened on a positive note over a decline in international oil prices and the anticipation of $1.3 billion flood-related support from the World Bank. Topline Securities said the initial positivity didn’t sustain as profit-taking made its way in the second half. The rupee’s depreciation and a del