Oil prices eased on Monday after rising two per cent in the previous session, as investors focused on short-term demand concerns stemming from crucial upcoming US inflation data and refinery maintenance in Asia and the United States. Brent crude futures fell 74 cents, or 0.9pc, to $85.65 a barrel by 0400 GMT after a 2.2pc gain on Friday. US West Texas Intermediate crude was at $78.99 a barrel,
Prime Minister Shehbaz Sharif on Sunday issued directives for speedy completion of solar and wind energy projects. While chairing a meeting on renewable energy, he said it was the government’s main priority to encourage the production of electricity through solar and wind energy sources. The renewable sources would produce low-cost and environment-friendly electricity, he added. PM Shari
The Securities and Exchange Commission of Pakistan (SECP) has warned the public about falling prey to unauthorised lending apps — MoneyBox and MoneyClub. The SECP on Monday observed that these apps were using the names of licenced non-banking finance companies (NBFCs) to gain public confidence in offering lending services without any regulatory approval. The regulator has not granted any pe
Big businesses have demanded that the National Finance Commission (NFC) award, which is the basis for resource distribution among federal and provincial governments, should be renegotiated to enable the federation to manage its fiscal account. The Pakistan Business Council (PBC), which is a policy advocacy platform backed by some of the biggest private-sector companies, said the provinces sho
Remittances sent by overseas Pakistani fell below $2 billion in January, showing a 31-month low and resulting in a loss of about $2bn during the first seven months of the current fiscal year (FY23). The State Bank reported on Monday that the remittances stood at $1.89bn in January, the lowest since May 2020, showing a decline of 13 per cent year-on-year and 10pc month-on-month. The country