Connect with us

Business

US wants to cooperate with Pak in energy sector: envoy

ISLAMABAD: A senior US official has said that the United States was keen to cooperate with Pakistan in the energy sector.

William (Chip) Laitinen, Counsellor for Economic Affairs at the US Embassy here said that many US companies were interested to explore Pakistan for the export of LNG.

“The country [Pakistan] could overcome its energy shortages by developing close ties with the US,” he said while addressing the business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI).

“USAID is working in Pakistan to contribute for improving its economy,” the counsellor said, adding that Pakistan has taken advantages of US’s GSP scheme as its exports to the US were improving.

Laitinen further went on to say that the US wanted continuous engagement with Pakistan for the economic benefit of both countries and added that people to people contacts were important to realise these objectives.

Business

PSX: Marred by political ambiguity the bourse experiences low-key activity today!  

SANA MAHMOOD

KARACHI: The prevailing vagueness in the economic as well as political scenario of the country forced PSX fall flat closing at 42,750 points on the week’s last trading day.

Rs. 5.45b worth of 132m shares changed hands, with value of the shares of 167 companies augmenting, 170 plummeting and 26 remaining stagnant.

Technology, Power and Textile sectors dominated the bourse with trading of 24.4m, 12.5m and 11.7m shares today.

Top five leading handlers of shares on the last trading day of the week were: WorldCall Telecom, 17.6m shares (+2.62pc); Engro Polymer, 8.9m shares (+3.03pc); K-Electric Ltd., 6.8m shares (+0.48pc); Dewan Motors, 6.4m shares (+4.82pc); Bank of Punjab, 6.3m shares (-1.87pc).

Continue Reading

Business

PSX: Raid at Dar’s house & Model Town Report let bears bleed the bourse red!

SANA MAHMOOD

KARACHI: News that last night NAB personnel raided the house of Federal Finance Minister Ishaq Dar armed with an arrest warrant forced bulls leave the bourse after many sessions.

Court’s orders to make the judicial report of Model Town carnage public too allowed the bears growl forcing KSE-100 Index close at 42,800 today post shedding 572 points.

Today Rs. 8.7b worth of 165.7m stocks changed hands. The value of the shares of 253 companies plummeted, 94 augmented while 33 remained unchanged.  

Technology, Power Generation and Gas Sectors led the trade today with 18.9m, 15.1m and 15m shares.

Today’s top five traders of the shares were K-Electric Ltd., 12.5m shares (+1.30pc); Sui Southern Gas 11.2m shares (-0.18pc); Engro Polymer, 9.9m shares (+1.66pc); WorldCall Telecom, 8.6m shares (+1.78pc); TRG Pak Ltd., 8.3m shares (-4.44pc).

Continue Reading

Business

European consortium Airbus inaugurates first completion/delivery center in China

MMA

TIANJIN: European consortium Airbus has inaugurated a $240m completion center here that will be receiving large bodied aircraft A330s from France.

 

 

Continue Reading

Trending