Day: March 24, 2025

Yemen Attacks on Ships: Rising Tensions Lead to Petrol Price Hike

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Yemen Attacks on Ships

The recent escalation of attacks on commercial ships in the Red Sea by Yemen’s Houthi rebels has triggered global concerns, particularly regarding fuel prices. With major shipping routes under threat, oil transportation has been disrupted, leading to fears of a surge in petrol prices. Impact on Global Oil Supply The Red Sea is a crucial transit point for oil shipments from the Middle East to Europe and other parts of the world. Any disruption in this area forces oil tankers to take longer, more expensive routes, such as around the…

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Selling pressure at PSX: KSE-100 sheds over 2,000 points

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Selling pressure

Market faces downward pressure amid IMF concerns The Pakistan Stock Exchange (PSX) faced selling pressure on Monday as the benchmark KSE-100 Index lost over 2,000 points, with analysts attributing the downturn to concerns related to the International Monetary Fund (IMF) loan. The market remained under pressure throughout the trading session, dragging the KSE-100 to an intra-day low of 116,257.51. At close, the benchmark index settled at 116,439.62 level, a decrease of 2,002.55 points or 1.69%. “The market faced downward pressure due to IMF concerns over the lack of adjustments to…

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Oil firms as market weighs Iran sanctions and talks over Russia-Ukraine ceasefire

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Oil prices

Oil prices strengthened in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. Brent crude futures rose 32 cents, or 0.44%, to $72.48 a barrel by 1252 GMT. U.S. West Texas Intermediate crude was up 34 cents, or 0.5%, at $68.62. “Crude remains rangebound as traders continued to weigh the impact of new U.S. tariffs, the risk of an economic slowdown, as well as increased…

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Pakistan’s sugar maker to install 200KW solar power plant

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solar energy

Tariq Corporation Limited (TCORP), engaged in the manufacturing of sugar and its by-products, has become the latest company to adopt renewable energy, as it announced plans to set up a 200KW solar power system at its facility. The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform you that Tariq Corporation Limited (TCORP) has decided to install a 200 KW solar power system, reinforcing its commitment to improve sustainability and operational efficiency. “It is expected to significantly reduce…

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PPIB Seeks Sindh Govt’s Intervention in UEPL Lease Payment DelayPending Bank Challans Hindering Second-Term Land Lease Rental Payment

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Power genration

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has urged Chief Secretary Sindh to intervene in the delayed issuance of bank challans required for the second-term land lease rental payment of UEP Wind Power Private Limited (UEPL). In a letter to the Chief Secretary, PPIB Managing Director Shah Jahan Mirza referenced UEPL’s February 27, 2025, request, highlighting prolonged delays despite multiple follow-ups with relevant authorities. UEPL, a *99MW wind power project under the China-Pakistan Economic Corridor (CPEC) framework, signed an *Energy Purchase Agreement (EPA) with the Central Power Purchasing Agency…

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