Pakistan State Oil Company (PSO), which is the largest gas importer and fuel retailer, is going to build an import terminal for liquefied natural gas (LNG) at $500 million, Bloomberg News reported on Monday. The import terminal will be located near Karachi and will take four years to complete, the international news agency quoted PSO CEO Syed Muhammad Taha as saying. The company has an under
The Lahore Chamber of Commerce & Industry (LCCI) on Monday termed Prime Minister Shahbaz Sharif’s performance unsatisfactory and urged him to deliver fast to put the country’s economy in the right direction. “This is a fact that he couldn’t come up to our expectations and perhaps he couldn’t deliver due to the much deteriorated economic situation,” LCCI President Mian Nauman Kabir told journali
Oil prices steadied on Tuesday after rising in the previous session on concerns that further United States interest rate hikes this week to tame inflation will curb economic growth and fuel demand in the world’s biggest oil consumer. Brent crude futures for November settlement rose three cents to $92.03 a barrel by 0449 GMT. US West Texas Intermediate crude for October delivery was at $85.76
Profitable publicly listed companies have several ways to return excess cash to their shareholders. Dividend payments are the most common way, but a company can also choose to do a stock buyback or a share repurchase. There’s actually a growing trend among companies in developed equity markets to do stock buybacks as their most favoured form of payouts to their shareholders. The trend is also c
With the new government came a spate of policy statements on promoting solar energy as a substitute for generating power based on imported fuels. The prime minister has made several statements on fast-tracking 10 gigawatts of solar energy, while our energy minister recently unveiled a policy to fast-track the development of 600 megawatts of solar projects that are very attractive to investors.