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PG shipping rates have seen what can only be called a dramatic start to the year. The steep gains, followed by the freefall have dwarfed the volatility seen in 2020. As we move deeper into 1Q21, and China comes back into the picture after a long holiday, we do expect rates to find some floor. Meanwhile, the stock prices which are otherwise highly correlated, have shown remarkable resilience, seemingly immune to the recent fluctuations in the spot market. The rise On 11 November 2021, the BLPG1 (representative of the Middle…

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KARACHI: Pakistan’s foreign direct investment (FDI) fell 27.4 percent in the seven months of this fiscal year, hurt by dropping investor confidence in the economy due to the stalled International Monetary Fund (IMF) loan programme and slippage in global growth amid the coronavirus pandemic. Data issued by the central bank showed on Monday that the country attracted $1.145 billion in FDI in July-January FY2021, compared with $1.577 billion in the corresponding period of last fiscal year. January’s FDI inflows were $192.7 million, down 12.24 percent from a year ago. FDI…

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OCCUPIED JERUSALEM: The Israeli and Egyptian energy ministers have agreed to build a pipeline to connect Israel’s offshore Leviathan natural gas field to liquefied natural gas (LNG) terminals in northern Egypt, the Israeli minister said on Sunday. Yuval Steinitz hosted a meeting with his Egyptian counterpart, Tarek El Molla, as both countries look for new ways to expand the development of east Mediterranean natural gas. The Leviathan field, located 130 km (80 miles) off Israel’s coast, already supplies the Israeli domestic market and exports gas to Jordan and Egypt. Its…

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Global natural gas demand is set to return to pre-crisis levels as early as this year and will continue to rise in the coming years, thanks to the coal-to-gas switch in Asia, particularly China. The growing gas demand will drive more liquefied natural gas (LNG) consumption and trade, and producers are gearing up for a new cycle of final investment decisions (FIDs) on projects. The recent record-high LNG spot prices in Asia highlighted the more stable prices of the gas for LNG buyers in long-term supply contracts compared to the…

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Economic policy is four actions that governments take in the economic field: tax, government spending, interest rates and money supply. Our national debt is now growing at the rate of Rs18 billion a day. Our electricity sector now loses nearly Rs2 billion a day. Our State Owned Enterprises (SOEs) collectively end up losing Rs1.8 trillion a year. In the natural gas sector, unaccounted-for-gas now amounts to Rs1 billion a day. In the commodities sector, federal and provincial food departments have accumulated a debt of Rs753 billion. Public procurements by the…

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