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Saturday 22, November 2014

 
 
 




 

Commodities


Oil prices down in Asian trade

By: Web Desk, Uploaded: 20th November 2014

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Thursday as dealers anticipated Gulf members of the OPEC cartel to reject production cuts unless they are guaranteed market share, analysts said. US benchmark West Texas Intermediate for December fell 12 cents to $74.46 while Brent crude for January was down four cents at $78.06 in mid-morning trade. “The...


KCCI offered 100 free booths at 2nd China-South Asia Expo, 22nd China Kunming Expo

By: Web Desk, Uploaded: 19th November 2014

KCCI offered 100 free booths at 2nd China-South Asia Expo, 22nd China Kunming Expo KARACHI: Deputy Director General of Yunnan International Expositions Bureau, Wang Guoping has offered 100 free booths to KCCI at 2nd China-South Asia Expo and 22nd China Import and Export Fair scheduled to be organized from June 6 to 10, 2014. Karachi Chamber of Commerce and Industry (KCCI) delegation had a meeting with Mr. Wang Cuoping...


Oil prices mixed as hopes dim for OPEC output cut

By: Web Desk, Uploaded: 19th November 2014

Oil prices mixed as hopes dim for OPEC output cut SINGAPORE- Oil prices were mixed in Asia Wednesday as dealers predicted that leading producer Saudi Arabia will resist pressure from other OPEC members to cut output in a bid to prop up falling prices. US benchmark West Texas Intermediate for December delivery fell 20 cents to $74.41 while Brent crude for January rose 10 cents...


PESCO notifies power shutdown in Peshawar

By: Web Desk, Uploaded: 18th November 2014

PESCO notifies power shutdown in Peshawar PESHAWAR: Due to necessary maintenance work, power supply will remain off from 132 KV Peshawar Cantt Grid Station on November 20, 22  and 26 from 08:00 am to 02:00 p.m.,  resultantly consumers of 11KV MES, Mall Road feeders will face inconvenience, PESCO notifies on Tuesday. Power supply will remain off from 132 KV Hayatabad Grid...


CNG sector: LNG price for end users to be considerably high

By: Web Desk, Uploaded: 18th November 2014

CNG sector: LNG price for end users to be considerably high The LNG price for end users of CNG sector will be considerably high with 81 percent price parity of petrol (Rs 106 per kg) against the current CNG price of 48 percent parity (Rs 71.52). The price calculated by a committee constituted by the Economic Co-ordination Committee (ECC) of the Cabinet does not include Gas...


Government allows power plants on 46 gas fields: National Assembly panel told

By: Web Desk, Uploaded: 18th November 2014

Government allows power plants on 46 gas fields: National Assembly panel told Federal Minister for Petroleum and Natural Resou-rces, Shahid Khaqan Abbasi Monday said the government has allowed installation of power plants on 46 gas fields with utilisation of 280 Million Cubic Feet per Day (mmcfd) of gas increasing power production by 1,000 megawatts. Briefing the National Assembly Standing Committee on Petroleum and Natural Resources here, the...


SSGC to provide desired pressure level to CNG stations during winter

By: Web Desk, Uploaded: 16th November 2014

SSGC to provide desired pressure level to CNG stations during winter KARACHI: Sui Southern Gas Company (SSGC) would provide desired level of gas pressure to all CNG stations during the winter season. This was stated by Managing Director of SSGC Shoaib Warasi  in a meeting with  a delegation of All Pakistan CNG Association (APCNGA) Sindh Zone. The delegation led by its Chairman Shabbir Sulemanjee called on...


New SIMs being issued through biometric verification system: PTA

By: Web Desk, Uploaded: 14th November 2014

New SIMs being issued through biometric verification system: PTA ISLAMABAD: All new SIMs are being issued through biometric verification system (BVS) across the country since August 1 to ensure their issuance to genuine users, said a Pakistan Telecom Authority (PTA) spokesman on Friday. He said the PTA had conducted many surveys regarding efficiency and user-friendliness of new system, which found that the system had...


Gas supply to Punjab textile units restored

By: Web Desk, Uploaded: 14th November 2014

Gas supply to Punjab textile units restored The government Thursday restored gas supply to the textile units in Punjab by suspending the gas-load management, while connections already closed are also being restored. The decision was taken by Finance Minister Ishaq Dar with the approval of Prime Minister after meeting with a delegation led by S M Tanveer, Chairman, All Pakistan Textile Mills...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 12th November 2014

Oil prices down in Asian trade SINGAPORE- Oil prices fell in subdued Asian trade Wednesday following sustained speculation about the dim prospects for an OPEC oil production cut in the face of abundant global supplies. US benchmark West Texas Intermediate for December delivery fell 46 cents to $77.48 while Brent crude for December was down 39 cents to $81.28 in late-morning...


LNG import to start in March 2015

By: Web Desk, Uploaded: 11th November 2014

LNG import to start in March 2015 ISLAMABAD: Federal Minister for Finance, Senator Mohammad Ishaq Dar was informed that the Liquified Natural Gas (LNG) import would commence in March 2015. He was chairing a high level meeting held here on Tuesday to discuss important matters regarding import of LNG. The meeting informed the minister that the LNG would preferably be made available...


Oil extend losses on dim prospects of OPEC output cut

By: Web Desk, Uploaded: 11th November 2014

Oil extend losses on dim prospects of OPEC output cut SINGAPORE- Crude prices extended losses in Asia Tuesday as the prospects of a production cut by the OPEC oil cartel dimmed, despite a global supply glut, analysts said. US benchmark West Texas Intermediate (WTI) for December delivery fell 11 cents to $77.29 while Brent crude for December eased 22 cents to $82.12 in mid-morning trade....


Minister orders confiscation of vehicles on tax default

By: Web Desk, Uploaded: 10th November 2014

Minister orders confiscation of vehicles on tax default KARACHI: Sindh Minister for Excise and Taxation Gayan Chand Israni has ordered to update checking schedule and to confiscate vehicles over tax default. The minister issued this directive at a meeting of the Motor Registration Wing’s officials after paying a visit to the wing at the Civic Centre, here on Monday morning. The minister directed...


Various Types of Consumers Exempted from Retail Sales Tax: KE

By: Web Desk, Uploaded: 10th November 2014

Various Types of Consumers Exempted from Retail Sales Tax: KE Karachi: K-Electric issued a statement to counter the news reports that it is wrongfully collecting sales tax from non-retail consumers. According to its press statement, the utility company said that it did not impose a blanket retail sales tax on all consumers. The statement said that the electric power tariff for the consumers is classified...


Oil prices up in Asian trade

By: Web Desk, Uploaded: 10th November 2014

Oil prices up in Asian trade SINGAPORE- Oil prices rose in Asia on Monday as dealers digested mixed US jobs data while anticipating a surge in fuel demand during winter months in the northern hemisphere, analysts said. US benchmark West Texas Intermediate for December delivery rose 32 cents to $78.97 while Brent crude for December was up 45 cents at $83.84...


Shale oil and its environmental impact

By: Humair Rana, Uploaded: 9th November 2014

Shale oil and its environmental impact The fledgling US shale gas exploration is making headlines not only in every media outlet ,but also every corner of business arena is feeling its trembling and economic benefits have acquired the center stage in this debate as it has revolutionized the entire energy sector raising the US gas reservoir from conventional source, and now having drilled...


PR decides to increase its revenue target: Saad

By: Web Desk, Uploaded: 8th November 2014

PR decides to increase its revenue target: Saad LAHORE: Federal Minister for Pakistan  Railways (PR) Khawaja Saad Rafique said on Saturday that the department had decided to increase its revenue target  from Rs 28 billion to above Rs 31 billion for the fiscal year 2014-15. Speaking at a press conference at the Railways Headquarters, he said the department was allowed to make expenses...


Petroleum prices cut in international market

By: Humair Rana, Uploaded: 8th November 2014

Petroleum prices cut in international market The perplexing plummet in oil prices over the past few months has gripped the investors that have brought about the questions with regard to crude as a safe haven status-crude prices was hovering around 105.47 dollar in 1st/June/2014 and now has plunged to 80.89 so far - and murmurs has become talk of the town in every corner of the world....


Cooking oil, steel prices likely to be reduced

By: Web Desk, Uploaded: 7th November 2014

Cooking oil, steel prices likely to be reduced KARACHI: Ghee, cooking oil and steel prices are likely to be slashed in a couple of days because of the considerable reduction in the petroleum prices by the Federal Government. This was stated by Atif Ikram Shaikh, the chairman of the Pakistan Vanaspati Manufacturers Association and Managing Director Mujahid Steel Re-rolling Industry. Talking to APP...


Oil prices down in Asian trade

By: Web Desk, Uploaded: 7th November 2014

Oil prices down in Asian trade SINGAPORE- Oil prices fell in Asia Friday after the OPEC oil cartel slashed its longer-term global demand outlook, while a stronger dollar also weighed, analysts said. The benchmark US futures contract, West Texas Intermediate for December delivery, dropped 36 cents to $77.55 while Brent crude for December eased 52 cents to $82.34 in afternoon trade....


Gas prices to be increased: Khaqan

By: Web Desk, Uploaded: 7th November 2014

Gas prices to be increased: Khaqan Federal Minister for Petroleum and Natural Resources, Shahid Khaqan Abbasi has informed the Senate Standing Committee that the import of Liquefied Natural Gas (LNG) would save up to $800 million per annum. Briefing the Senate Standing Committee on Petroleum and Natural Resources here on Thursday, the minister said that the government would increase gas prices...


OPEC stance in Price reduction

By: Humair Rana, Uploaded: 6th November 2014

OPEC stance in Price reduction The plummeting crude price as a result of lower than expected economic recovery, strong dollar and USA Shale oil has resulted in shocking waves amidst the producers as well as investors .Over the past quarter, price of  WTI crude has fallen from  96 dollar per barrel  to 79.98 dollar while Brent crude has sharply decreased...


Oil prices up in Asian trade

By: Web Desk, Uploaded: 6th November 2014

Oil prices up in Asian trade SINGAPORE- Oil prices, which saw sharp losses earlier this week, climbed in Asia Thursday after a smaller-than-expected increase in US stockpiles rekindled optimism about demand in the world’s top crude consumer. US benchmark West Texas Intermediate for December delivery rose 18 cents to $78.86 while Brent crude for December was up 13 cents to $83.08...


OGDCL makes oil discovery in Tando Allah Yar

By: Web Desk, Uploaded: 6th November 2014

OGDCL makes oil discovery in Tando Allah Yar Oil and Gas Development Company Limited (OGDCL) has made another oil discovery from its exploratory Well – Jarwar Well No 1, which is located in district Tando Allah Yar, Sindh in NIM Block with OGDCL ownership at 95 percent and Government Holding (Pvt) Limited at five percent. This is the second oil discovery which OGDCL...


Gold plumbs another four-year low

By: Web Desk, Uploaded: 5th November 2014

Gold plumbs another four-year low LONDON- Gold prices dived Wednesday to a fresh four-year low, as demand was dented by the soaring dollar after Republicans cruised to victory in US midterm elections, dealers said. At about 0855 GMT on the London Bullion Market, the precious metal plunged to $1,143.47 per ounce — which was its lowest level since April 23,...


PIA brings back over 41,000 hajjis

By: Web Desk, Uploaded: 1st November 2014

PIA brings back over 41,000 hajjis KARACHI: PIA Post Hajj operation of bringing back hajjis from Saudi Arabia to Pakistan is continuing with on time arrivals in Pakistan. PIA till 1st November, the 25th day of its Post Hajj Operation has carried more than 41,000 hajjis to Pakistan through 94 Hajj flights and regular scheduled flights, PIA spokesman said here on...


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