Global oil and gas demand could grow until 2050, the International Energy Agency said on Wednesday, departing from its previous expectations of a speedy transition to cleaner fuels and predicting that the world will likely fail to achieve climate goals. The IEA, the West’s energy security watchdog, has been under pressure from the U.S. for a shift in recent years toward a focus on clean energy
Treet Corporation Limited, a Pakistani diversified business group, has announced plans to expand its hygiene razor segment, approving a capital expenditure of Rs430 million (~ USD 1.5 million) to meet surging local and export demand. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. “Treet Corporation Limited announces that due to e
The Pakistani rupee saw marginal improvement against the US dollar, appreciating 0.05% during the opening hours of trading in the inter-bank market on Wednesday. At 10am, the currency was hovering at 280.63, a gain of Re0.15 against the greenback. On Tuesday, the local unit closed at 280.78. Internationally, the US dollar eased on Wednesday after private-sector US jobs data stoked worries
After days of buying momentum, selling returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 2,600 points as investors adopted a cautious stance amid rising political noise during trading on Tuesday. At 1:35pm, the benchmark index was hovering at 158,932.16, down 2,606.24 points, or 1.61%. Selling pressure was observed in key sectors including automobi
Fauji Fertilizer Company Limited (FFCL) has announced plans to acquire the remaining 25% shareholding in its associated company, FFBL Power Company Limited (FPCL), from its parent entity, Fauji Foundation, via a share-swap arrangement. FFCL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We wish to inform the exchange of the decision of the Board of