The World Bank projects that global commodity prices will fall 3 per cent in 2024, but the conflict in the Middle East could halt the inflationary decline. “The World Bank commodity price index is expected to fall 4pc in 2024, following a projected decline of nearly 24pc in 2023, the sharpest drop since the pandemic”, noted the latest Commodity Markets Outlook (CMO) released on Thursday. Ene
Following Finance Minister Muhammad Aurangzeb’s extensive visit to Washington, the United States and Pakistan renewed a key framework on Wednesday to promote bilateral trade. The Trade and Investment Framework Agreement (TIFA), signed in 2003, is a vital platform for addressing bilateral trade issues. The US and Pakistan concluded the 9th TIFA meeting in February 2023. The last intersessional t
After scaling an all-time high overnight, the benchmark KSE 100 index faltered despite a positive start on Tuesday amid reports of oil refining units shutting down and Shanghai Electric Power’s withdrawal of an offer to buy K-Electric. Ahsan Mehanti of Arif Habib Corporation attributed the depressed market performance to the expectations of prudent SBP monetary policy announcement next week ah
Attock Refinery Limited (ARL) has become the first victim of smuggled petroleum products as the refinery on Monday shut down its main distillation unit, reducing its capacity to only 33%, owing to the piling up of unsold diesel stocks. Oil industry sources warned that other refineries were also likely to close their units if the unbridled smuggling of petroleum products was not stopped. Oil
Saudi Arabia’s sovereign wealth fund PIF has agreed to buy a 51% stake in Telecommunication Towers Company Ltd (TAWAL) from STC Group, paving the way for the creation of the region’s largest telecom tower company, PIF and STC said on Monday. Under the agreement, PIF and STC will combine TAWAL and Golden Lattice Investment Company (GLIC) to set up a newly-formed company with around 30,000 mobile