Category: Highlights

US oil may retest a support at $65.46 per barrel, with a good chance of breaking below this level and falling to $64.27. The contract is riding on a wave (c) from $74.23, which observes closely two sets of projection levels on the downtrend from $75.52 and the trend from $74.23. This wave is expected to travel to $62.70, as it has extended below $65.42. The current bounce may end around a resistance at $67.10, as indicated by a falling channel. A break above $67.10 could lead to a gain…

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Pakistan has received the third largest workers’ remittances amounting to $2.71 billion in July, the first month of current fiscal year, making the much-needed finances available to pay for increasing imports which is a must to achieve the planned higher economic growth. This was the sixth month in the past 13 months when the inflows of remittances sent home by overseas Pakistanis remained over $2.5 billion. Moreover, July was the fourteenth successive month in which the receipts remained above the threshold of $2 billion, according to the State Bank of…

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Oil prices fell by almost 3 per cent on Monday, extending last week’s steep losses on the back of a rising US dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand. A United Nations panel’s dire warning on climate change also added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month. Brent crude futures fell by $1.87, or 2.6 per cent, to $68.83 a barrel by 1330…

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Businesses in Pakistan operate with the same short-term mentally as the governments in the country do. They stop long-term investment at the first sign of crisis akin to governments curtailing development funds for public appeasement. The result is that most of the enterprises concentrating on short-term gains have failed to grow up to their potential. A few entrepreneurs who continued their investment in periods of stress have become more resilient to crises that occur so frequently in our country. Successful entrepreneurs realise that the majority of our population is young,…

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On a consolidated basis, Lucky Cement Limited reported a profit after tax of Rs 28.23 billion of which Rs 5.37 billion is attributable to non-controlling interest for the year ended June 30, 2021. This translates into earnings per share (EPS) of Rs 70.69/ share as compared to Rs 18.96/ share reported last year. Further, on a consolidated basis, the Company achieved gross turnover of Rs 267.73 billion which is 64 percent higher as compared to last year’s turnover of Rs 162.87 billion. During the year under review, the Company’s consolidated…

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