Cement sales in the first four months of 2022-23 are expected to have gone down by 21-25 per cent on a year-on-year basis. Based on data obtained from the All Pakistan Cement Manufacturers Association, Topline Securities analyst Sunny Kumar said the lower offtake of local cement (-22pc) in the period under review is on the back of higher-than-expected rains across the country, rising constructi
Two state-owned energy companies listed on the Pakistan Stock Exchange said on Monday that they have negotiated and finalised, along with Government Holdings Pakistan Ltd, the definitive agreements for their respective participation in the reconstituted Reko Diq project. Oil and Gas Development Company Ltd, Pakistan Petroleum Ltd and Government Holdings Ltd, another state-owned entity, will eac
A property development company with links to former Punjab minister Aleem Khan is no more interested in buying Silkbank Ltd. The troubled bank, which is one of the smallest among listed lenders, told shareholders on Monday that Park View Enclave Ltd has withdrawn the offer to acquire a majority stake due to a change in its “business priorities”. Park View Enclave expressed its intention in M
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