Category: Uncategorized

Floods could strain Pakistan’s economy and disrupt food supplies, warns finance ministry

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petroleum

The finance ministry on Thursday warned that Pakistan’s economy faces risks from flood-related damages, which may add fiscal pressures and disrupt food supplies in affected areas. The ministry, in its latest monthly economic outlook, said that Pakistan’s economy entered FY2026 with stable macroeconomic conditions and improved growth prospects, supported by a stronger external and fiscal position. “On a YoY basis, LSM [large scale manufacturing] has been on a steady recovery since April 2025, peaking in June, and is expected to gain further momentum with improvements in automotive and fertiliser output,”…

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Oil ticks up on US crude stocks drop, impact of US tariffs on India

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Oil price

HOUSTON: Oil prices edged higher on Wednesday on a larger-than-expected drop in U.S. crude inventories and the potential impact of new U.S. tariffs on India. Brent crude futures were up 43 cents, or 0.6%, at $67.65 a barrel by 10:58 a.m. ET (1458 GMT). West Texas Intermediate crude futures gained 50 cents, or 0.8%, to $63.77. Both contracts fell by more than 2% on Tuesday. U.S. crude inventories dropped by 2.4 million barrels to 418.3 million barrels last week, the Energy Information Administration said, compared with analysts’ expectations in a Reuters poll…

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AMI meter to be a game-changer in curbing power theft: IESCO CEO

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gas-meter

ISLAMABAD: The Chief Executive Officer Islamabad Electric Supply Company (IESCO), Engineer Ch Khalid Mahmood, has said that the introduction of Advanced Metering Infrastructure (AMI) meters is a revolutionary step in the power sector of Pakistan having many advanced features and fight against electricity theft and in ensuring transparency is one of those. While giving brief Engineer Ch Khalid Mahmood said AMI meters are equipped with modern features that automatically detect and report theft attempts and meter disturbances to the AMI Operation Centre. Recently numerous power theft and meter accuracy disturbance…

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Santos extends exclusivity for $18.7 billion ADNOC-led offer, profit declines

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Australian gas producer Santos on Monday agreed to further extend the exclusivity period for an $18.7 billion takeover bid from a group led by Abu Dhabi National Oil Co (ADNOC), and reported a better-than-feared 22% drop in first-half profit. Its shares rose 1% in early trading after extending the due diligence period to September 19 to give the consortium led by ADNOC’s investment arm XRG more time to secure required internal approvals before making a binding takeover offer. Santos said the consortium had on Sunday “again confirmed it has not…

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Sindh CM orders restoration of 150-year-old historic Banyan tlree at Qasr-e-Naz

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KARACHI (Aug 23): Sindh Chief Minister Syed Murad Ali Shah has directed the restoration of a 150-year-old banyan tree at Qasr-e-Naz, which collapsed due to heavy rains and strong winds. The chief minister has instructed the Secretary Forests to immediately begin restoration work. Chief Conservator Javed Mahar, along with his team, will oversee the revival of the tree. Murad Ali Shah said that centuries-old trees are not only cultural heritage and symbols of ancestors but also vital for protecting the environment. “In the era of climate change, every plant has…

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