The United Arab Emirates’ ADNOC Gas announced on Monday a $1 billion deal to provide liquefied natural gas to France’s TotalEnergies as Europe scrambles to find alternatives to Russian energy sources. The liquefied natural gas provided under the three-year supply deal “will be delivered to various export markets around the world”, a company statement said. The agreement is valued at between
Though closed since June 2015, Pakistan Steel Mills (PSM) is reported to have earned after-tax-profit of about Rs7.45 billion in 2021-22 even though its accumulated losses of Rs206bn went beyond its current assets worth Rs195.5bn. In the qualified opinion of on financial statements, the independent auditors — Crowe Hussain Chaudhry & Co — said the PSM fully disclosed its dispute with Sui Southe
Pakistan’s exports to nine regional countries dipped 28.28 per cent in the first nine months of FY23 mainly driven by a drop in shipments to China, data compiled by the State Bank of Pakistan showed. The decline is not confined to exports but imports especially from China also saw a deep decline during the current fiscal year. As part of government austerity measures, import containers are awai
Bankers and currency dealers have anticipated over $2.5 billion in remittances in April like the preceding month which helped the country to record a current account (C/A) surplus. At the same time, they believe the country could post a C/A surplus for the second month in a row which would reduce pressure on the dwindling foreign exchange reserves held by the State Bank of Pakistan (SBP). “D
Notwithstanding the nearly flat economic growth expected for 2022-23 amid record-high inflation, after-tax income reported by the representative firms of the country’s corporate sector remained at Rs877.6 billion in the first nine months of the current fiscal year, up 8.8 per cent from a year ago. According to data compiled by Arif Habib Ltd, combined earnings rose 12.7pc year-on-year in the la