AsiaPak Investments, a private investment firm with operational assets in Pakistan and Hong Kong, and Middle Eastern oil and gas company Montage Oil have bid for a 75.01 per cent stake in Lotte Chemical Pakistan, according to a notice filed by the manager to the offer with the Pakistan Stock Exchange on Thursday. “The due diligence and price discovery for a share price agreement is yet to h
With system losses at a record 16.16 per cent, the Oil and Gas Regulatory Authority (Ogra) on Thursday notified up to 2pc increase in the price of Regasified Liquefied Natural Gas (RLNG) for sale to consumers by the two Sui gas companies for February. Karachi-based Sui Southern Gas Company Ltd (SSGCL) serves consumers in Sindh and Balochistan, and Ogra approved an increase in its system losses
The State Bank of Pakistan’s (SBP) foreign exchange reserves plunged by over half a billion dollars in less than a month. On Thursday, the central bank announced that its forex holdings recorded an outflow of $252 million to $11.166 billion during the week that ended on Feb 7. However, the SBP reserves witnessed a steep decline of $559m from $11.725bn on Jan 10, mainly due to external
Pakistan and Turkiye discussed on Thursday the need to revamp their preferential trade agreement with a view to addressing existing challenges and unlocking the business potential between the two countries. The understanding was reached at a meeting between Commerce Minister Jam Kamal Khan and his Turkish counterpart, Prof Dr Omer Bolat. According to an official announcement, the two ministe
US President Donald Trump announced plans Thursday for sweeping “reciprocal tariffs” hitting both allies and competitors, in a dramatic escalation of an international trade war that economists warn could fuel inflation at home. Speaking in the Oval Office, Trump said he had decided to impose the reciprocal duties, telling reporters that US allies were often “worse than our enemies” on trade iss