Pakistan Today

KARACHI: Karachi Port Trust and Metro Gas (Pvt) Ltd have entered a memorandum of understanding for establishment of a 'virtual pipeline system' to disseminate LNG across the country. The MoU was signed by KPT General Manager Rear Admiral Zakaur Rehman and Metro Gas CEO Owais Mir. The ceremony was also attended by KPT trustees and officials as well as members...

LAHORE: Normalisation of working capital and deferral of loans will help improve liquidity of Maple Leaf Cement Factory Limited (MLCF), analysts say.  Shahrukh Saleem, an investment analyst at AKD Securities Limited, said after adjusting working capital cycle, incorporating details of deferred loans under State Bank of Pakistan (SBP’s) scheme and recent announcement of extension in Waste Heat Recovery (WHR) capacity...

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a grant of $150 million for the purchase of Covid-19 vaccine. Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired the ECC meeting in Islamabad on Friday. Industries & Production Minister Hammad Azhar, Economic Affairs Division Minister Khusro Bakhtiar, Adviser to PM on Institutional Reforms...

KARACHI: Bears took charge of the Pakistan Stock Exchange (PSX) on Friday, with the indices succumbing to selling pressure ahead of the rollover week. Global equity markets, on the other hand, displayed a positive trend, whereas crude oil prices also moved north from the previous close; WTI oil price appreciating 0.67pc to $42.18 while Brent crude price rising 0.88pc to...

LONDON: Gilead’s remdesivir is not recommended for patients hospitalised with Covid-19, regardless of how ill they are, as there is no evidence the drug improves survival or reduces the need for ventilation, a World Health Organization panel said on Friday. “The ... panel found a lack of evidence that remdesivir improved outcomes that matter to patients,” the guideline said. “Especially given...

The central bank's foreign exchange reserves rose 1.5pc on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On November 13, the foreign currency reserves held by the SBP were recorded at $12,931.2 million, up $191 million compared with $12,740.5 million in the previous week. The overall liquid foreign currency reserves held by the...

ISLAMABAD: Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood said on Friday that following the prime minister's visit to Kabul, the Ministry of Commerce will start engaging all stakeholders on items to be placed in the proposed Pak-Afghan Perennial Trade Agreement (PTA), starting next week. "We are looking at engineering, pharmaceutical, cement, building materials, fruit and vegetables...

LONDON: Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful Covid-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the virus capped gains. Prospects for effective Covid-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil markets this week. Brent crude...