Category: News & Announcement

The COVID-19 outbreak has upended the global economy, causing stocks to plummet. Investors are selling off everything due to the uncertainty of when conditions will stabilize and we’ll return to some sense of normal. While market conditions could get worse before they eventually improve, investors with a long-term outlook could have a rare opportunity to buy high-quality companies at attractive values. One sector where that’s the case is renewable energy. Three stocks that stand out as the top buys right now are Brookfield Renewable Partners (NYSE:BEP), First Solar (NASDAQ:FSLR), and NextEra Energy (NYSE:NEE). Getting bigger and better…

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LAHORE: Despite expressing resolve to take advantage of record low crude oil and liquefied natural gas (LNG) prices, Pakistan is not maintaining energy supply chain mainly due to lack of a coherent and systematic approach, according to an expert opinion. Unlike regional countries, the capacity of LNG import infrastructure is not being fully utilised. Oil imports are also not up to the mark, keeping in view availability of attractive import window. Essentially, there is lack of systematic approach in meeting energy needs of all sectors, especially power, fertiliser and CNG…

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IMF has announced it would consider Islamabad’s request for financial assistance DESPARDES — Prime Minister Imran Khan has announced a stimulus package of several hundred billion rupees for laborers, lower fuel prices, reduced or abolished taxes on food items, amid ongoing lockdowns in major cities designed to curb the spread of the COVID-19 virus. Khan has also called for debt rescheduling and economic assistance for the developing countries. Media report citing Foreign Office said the call “has gathered traction in recent days, evidenced by the joint statement of IMF and the World…

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More than a million jobs in the oilfield service industry (OFS) are expected to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, Norway’s energy intelligence firm Rystad Energy said. Most cuts will come from shale services According to Rystad, more than 5 million people are employed in the OFS sector globally at present and Rystad Energy’s estimates show that this year alone, contractors will scale down their workforce by at least 21%.  Some 13 percentage points are…

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KARACHI: After suffering a massive loss in early trade on Friday morning, the Pakistani Rupee made a sharp recovery against the US dollar in the interbank market, to close at Rs166.5, following the State Bank of Pakistan (SBP) alleged intervention. The analysts believe that the SBP intervened and injected dollars in the market to stabilise the PKR that was being traded at Rs170 against the US dollar: its lowest since June 2019 in early trade. However, a source working in the money markets denied that there was an intervention by the…

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