The United Arab Emirates’ energy minister said on Monday that Opec+ is willing to provide the world with the oil it needs, and that if consumers require more, the alliance of top producers was “only a phone call away”. Suhail al-Mazrouei told a major industry event in Abu Dhabi that Opec+, which groups the producer bloc with allies including Russia, can always be trusted to balance oil supply a
Oil prices inched lower on Tuesday, extending losses of one per cent from the previous session as more extensive Covid-19 curbs in China increased fears of slowing fuel demand in the world's second-largest oil consumer. Brent crude for January delivery was down four cents at $92.77 a barrel at 0112 GMT. The December contract expired on Monday at $94.83 a barrel, down 1pc. US West Texas Inter
Pakistan on Monday formally decided to import 300,000 tonnes of wheat from Russia on a government-to-government (G2G) basis and approved a 63 per cent increase in commission to oil marketing companies (OMCs) on the sale of petroleum products. The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Ishaq Dar. Regardin
Bears pulled down the benchmark index of the Pakistan Stock Exchange on Wednesday owing to rising political confrontation. The bloodbath on the trading floor took place as former prime minister Imran Khan unveiled his plan for holding his long march to Islamabad by the weekend, said Arif Habib Ltd. The announcement shook investors’ confidence and pulled down the index to an intraday low of
MCB Bank Ltd posted unconsolidated earnings of Rs8.7 billion in July-September, up 11.7 per cent from a year ago. A stock filing showed on Wednesday the bank announced a third interim cash dividend of Rs5 per share, bringing the total cash dividend for the nine months of 2022 to Rs14 per share. A press release issued by the bank said its profit-before-tax for the first nine months of 2022 in