Connect with us

Business

New railway corridors to benefit K-P businesses | The Express Tribune

Published

on

New railway corridors to benefit K-P businesses | The Express Tribune



ISLAMABAD:

Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan on Saturday reaffirmed the government’s commitment to addressing the challenges faced by the business community in Khyber-Pakhtunkhwa (K-P).

He said this while chairing a meeting with a delegation of the Sarhad Chamber of Commerce and Industry (SCCI), which focused on the key issues faced by the chamber, said a news release.

Haroon Akhtar assured the delegation that, on the directives of Prime Minister Shehbaz Sharif, all issues raised by the chamber would be addressed promptly. He added that the premier was working actively for the uplift of small, micro and large businesses across the country.

The PM aide emphasised that all policies and efforts of the Ministry of Industries & Production were focused on resolving business challenges and strengthening the national economy. He highlighted that new railway corridors connecting Uzbekistan and Kazakhstan to Pakistan would bring significant benefits to businesses in K-P.

Improved regional connectivity, he added, would also help address challenges related to security, infrastructure and underdevelopment.

He noted that the upcoming National Industrial Policy would include comprehensive solutions to taxation issues and the broader concerns of the business community. Haroon Akhtar directed all stakeholders to submit concrete proposals for resolving their issues and formally included the Sarhad Chamber in various government committees.

The chamber delegation highlighted that Peshawar holds tremendous potential in sectors such as gemstones, pharmaceuticals and other emerging industries. However, they noted that inadequate finished product facilities and the lack of infrastructure were hindering the city’s export capabilities.

The chamber informed the PM assistant that although the Peshawar Expo Centre was nearing completion, the project had suffered delays and required urgent government intervention. They stressed that high taxation, rising utility costs and inadequate facilities pushed SMEs in Peshawar to the brink of collapse.



Source link

Business

Saudi Oil Supply Assurance Lifts Pakistan Stock Market – SUCH TV

Published

on

Saudi Oil Supply Assurance Lifts Pakistan Stock Market – SUCH TV



KARACHI: The Pakistan Stock Exchange rallied on Thursday after Saudi Arabia assured Pakistan of facilitating crude oil shipments through the Red Sea port of Yanbu Port, easing concerns over potential fuel supply disruptions.

The benchmark KSE-100 Index climbed sharply during the trading session, rising 4,439.93 points (2.85%) to reach an intraday high of 160,217.14 points.

Market Recovery

Analysts attributed the market rebound to renewed institutional buying and improving investor sentiment after Saudi assurances on oil supplies.

Market expert Ahsan Mehanti, CEO of Arif Habib Commodities, said easing fuel supply concerns played a key role in the recovery.

He added that rising global crude prices, expectations of a new International Monetary Fund loan tranche for Pakistan, and positive economic indicators also boosted investor confidence.

Alternative Oil Route

Pakistan sought an alternative supply route after Iran announced the closure of the Strait of Hormuz, a crucial global oil transit corridor.

Federal Petroleum Minister Ali Pervaiz Malik held talks with Nawaf bin Said Al-Malki, requesting Saudi support for uninterrupted energy supplies.

Saudi authorities reportedly assured Pakistan that oil shipments could be routed through Yanbu, and one crude vessel has already been prepared for dispatch.

Global Oil Market Impact

Oil prices continued to rise amid tensions in the Middle East conflict involving Iran, Israel and the United States.

Brent crude: up 3.26% to $83.99 per barrel

West Texas Intermediate (WTI): up 3.70% to $77.42 per barrel

Energy markets remain volatile as shipping disruptions threaten supply through the Strait of Hormuz, a route that handles nearly 20% of global oil trade.

Analysts say the Saudi assurance helped calm fears about Pakistan’s energy supply chain, contributing to the strong recovery at the PSX.

 




Source link

Continue Reading

Business

Asian stocks today: Markets inch higher mirroring Wall Street gains; Kospi jumps 10%, Nikkei up 1,400 points – The Times of India

Published

on

Asian stocks today: Markets inch higher mirroring Wall Street gains; Kospi jumps 10%, Nikkei up 1,400 points – The Times of India


Asian stocks inched higher on Thursday, after days of trading in red amid ongoing Middle East tensions. This comes as equities were lifted by a rebound on Wall Street as oil prices paused their recent spike and economic updates painted a more positive picture of the American economy. In South Korea, Kospi hit a pause on its downward rally to add a whopping 10% or 513 points, to reach 5,606. Japan’s Nikkei 225 also climbed 2.7% to 55,713. Hong Kong’s HSI also traded in green, rising 353 points to 25,603 as of 9:10 am. Shanghai and Shenzhen added 0.9% and 1.7% respectively. Gains elsewhere in the region were more modest. Australia’s S&P/ASX 200 added 0.3% to 8,927.20, while New Zealand’s benchmark index moved 0.9% higher. In contrast, US futures indicated a subdued start ahead. Futures linked to the Dow Jones Industrial Average were almost unchanged, while S&P 500 futures ticked up 0.2%. The S&P 500 advanced 0.8% on Wednesday, clawing back much of the decline seen since the onset of the Iran conflict. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq Composite outperformed with a 1.3% gain. Globally, market sentiment has remained sensitive to developments in the Middle East, with oil price swings continuing to steer trading direction. Crude prices eased during Wednesday’s session. Brent crude briefly moved above $84 a barrel before settling at $81.40, roughly matching the previous day’s level. US benchmark crude edged up 0.1% to finish at $74.66 per barrel. By early Thursday, however, oil was on the rise again. Brent crude climbed 2.4% to $83.32 per barrel, while U.S. benchmark crude jumped 2.5% to $76.53 per barrel.



Source link

Continue Reading

Business

China sets lowest economic growth target since 1991

Published

on

China sets lowest economic growth target since 1991



It is also the first time the target has been lowered since it was cut to “around 5%” in 2023.



Source link

Continue Reading

Trending