The Government Plans the Price of Oil Over the Daily Exchange Rate
ISLAMABAD: The government has decided in principle to change the pricing mechanism. The pricing mechanism is for petroleum products. To reduce its period to cater to the exchange rate of the changing currency and cut the losses of oil trading companies (WTO) and refineries. The government has also committed to the WTO to increase its […]
Asian Unicorns Trade 40% Cheaper on Private Markets
Asia’s best-known startups are trading 40% cheaper than six months ago in private transactions amid a defeat triggered by headwinds from Chinese regulation and a global economic slowdown. The multibillion-dollar companies affected range from financial technology and e-commerce to mobility and the consumer, according to AJ Patel, a senior member of the second venture capital […]
Corolla, City and Fortuner: How expensive have cars become after the latest price increase?
Automakers, beset by exchange rate volatility, rising taxes, and dwindling parts supply, have recently given their consumers a major shock by raising prices. Some of the companies that have revised their rates are Indus Motor Corporation (IMC), Kia Lucky Motor Corporation (KLMC), Honda Atlas Cars Limited (HACL), and Hyundai Nishat Motors. Indus Motor Corporation According […]
India to Restart Ukraine Sunflower Oil Imports as Trade is Facilitated
India, the world’s largest importer of edible oil, will likely receive its first shipments of sunflower oil from Ukraine starting in September after a five-month gap, according to Sunvin Group. Around 50,000 to 60,000 tons may arrive as Ukraine is ready to open some Black Sea corridors for agricultural exports, said Sandeep Bajoria. Sandeep Bajoria […]
US Crude Exports Gain 21% to Hit Record, EIA Says
U.S. crude exports set a new record as Europe struggles to replace Russian oil supplies amid the superpower’s war against Ukraine. Exports rose 21% to 4.55 million barrels per day during the week ending July 22, according to Energy Information Administration data released Wednesday. Total shipments of crude oil and petroleum products also rose to […]
How a Strong Dollar Affects the Economy and Your Wallet
“My first salary was Rs12,000 in 1996 when a dollar was equal to Rs34. The first salary in the same brokerage industry today is about Rs50,000, even though the dollar rate is higher than Rs228,” said Asif Qureshi. Asif Qureshi is the chief executive of the brokerage Optimus Capital Management. It means that the first […]
Global Investors Sell Most of China Government Bonds in June
Foreign investors cut their holdings of Chinese sovereign bonds by the largest amount on record in June. It is reflecting a surge in capital outflows as global central banks raise rates as Beijing eases. Foreign investors reduced their positions in China’s onshore sovereign bonds by 55.9 billion yuan ($8.3 billion) last month, the most since […]
IMF Seeks Guarantees on Saudi Financing to Pakistan
The International Monetary Fund is seeking to assess Saudi Arabia’s commitment to funding Pakistan, before the multilateral lender disburses fresh funds to the South Asian nation, according to people familiar with the matter. The Washington-based lender wants to make sure Saudi Arabia goes ahead with up to $4 billion in funding to Pakistan to ensure […]
$1.17 billion tranche to be released in three to six weeks: IMF
The International Monetary Fund (IMF) has said its deal with Pakistan would lead to an “immediate” disbursement of $1.17 billion to the country. “It’s an agreement on a combined seventh and eighth review of the program. This will result in the disbursement of some $1.17 million to Pakistan. Pretty much, right away,” IMF Communications Director […]
China’s Real Estate Sector Remains the Biggest Drag on the Economy
China’s housing slowdown showed little sign of improvement in the three months to June. Its output contracting for the fourth straight quarter and clouding growth prospects for the rest of the year. Output in the real estate industry, a key economic contributor, contracted 7% in the second quarter from a year earlier. Found in the […]