If there is a single lesson of the ongoing Russia-Ukraine war for us, it is that self-reliance in energy should become Pakistan’s number one goal from this point forward. This eight-month yet unfinished war will keep the international energy trade severely disrupted in the foreseeable future. The foremost objective of western countries is to take every punitive action that blocks Russia’s crude
Pakistan is expected to finally exit the ‘increased monitoring list’ — commonly known as grey list — of the Financial Action Task Force (FATF) on Oct 21, after languishing in the infamous category for almost 52 months. “The first FATF Plenary under the two-year Singapore Presidency of T. Raja Kumar will take place on October 20-21, 2022,” said the Paris-based global watchdog on dirty money. Del
The stock market went through another range-bound session on Thursday even though the benchmark opened and closed in the green zone. Arif Habib Ltd said investors’ participation remained low, which caused the trading volume to decline sharply. The index fluctuated in both directions, but ended up in the green as the IT sector remained in the limelight. Analyst Ahsan Mehanti noted that selec
Auto sales, including those reported by companies that aren’t members of the Pakistan Automotive Manufacturers Association, declined in September by seven per cent on a month-on-month basis to about 13,000 units. According to data compiled by Topline Securities, auto sales dropped 51pc on an annual basis amid escalating prices, expensive auto financing and low purchasing power of consumers. Th
Oil prices struggled to find their footing in Asian trade on Thursday after easing in the previous session on the back of a weakening global demand outlook. Brent crude futures dropped seven cents, or 0.1 per cent, to $92.38 a barrel by 0310 GMT. US West Texas Intermediate crude was down 21 cents at $87.06 a barrel, or 0.2pc. Both Opec and the US Energy Department have cut their demand outlo