International coal prices have soared to their highest level since 2008, making further hikes in cement and electricity rates likely in the domestic market. The price of Australian coal, which is used as a benchmark by large coal-burning Asian economies, stood at almost $152 per tonne at the end of last month, up almost 195 per cent from a year…
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Oil prices fell by almost 3 per cent on Monday, extending last week’s steep losses on the back of a rising US dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand. A United Nations panel’s dire warning on climate change also added to the gloomy mood after fires in Greece…
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Businesses in Pakistan operate with the same short-term mentally as the governments in the country do. They stop long-term investment at the first sign of crisis akin to governments curtailing development funds for public appeasement. The result is that most of the enterprises concentrating on short-term gains have failed to grow up to their potential. A few entrepreneurs who continued…
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On a consolidated basis, Lucky Cement Limited reported a profit after tax of Rs 28.23 billion of which Rs 5.37 billion is attributable to non-controlling interest for the year ended June 30, 2021. This translates into earnings per share (EPS) of Rs 70.69/ share as compared to Rs 18.96/ share reported last year. Further, on a consolidated basis, the Company…
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Natural gas prices were also falling in the United States as the week got underway. Henry Hub gained throughout last week, hitting some of its highest seasonal levels in years as a prolonged heat wave approached the eastern half of the country. The prompt month surged past $4 during the week. It closed lower on Monday after a cooler shift…
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Asia’s spot LNG prices soared to new summer highs this week supported by strong regional demand and surging gas prices in European gas hubs, with tight fundamentals meaning there is little prospect of prices easing from current levels. The past week saw spot LNG delivered to Northeast Asia crossing $16/MMBtu for the first time during the Northern Hemisphere summer in…
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The National Forum for Environment and Health (NFEH) has joined hands with the Midas Safety and Orix Modarba to launch a monsoon tree plantation campaign in the Export Processing Zone, Landhi.The same industrial estate of Karachi was selected some three months back to plant 300 plant saplings that have grown much due to proper care and protection. The back-to-back plantation…
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Minister of State for Information and Broadcasting Farrukh Habib Monday said the Clean and Green campaign of Prime Minister Imran Khan turned into a movement as the entire nation has started planting trees across the country. In a tweet, he said the people of Pakistan were fulfilling their national responsibility by enthusiastically participating in the drive to reduce environmental impacts…
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Federal Minister for Economic Affairs Omar Ayub Khan has emphasised that the 5th Extension of Tarbela hydropower project will help meet rapidly increasing requirement of water and electricity in the country. “It will also improve energy security by increasing the share of clean and affordable energy in the country’s energy mix,” he added, according to a statement issued on Monday.…
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The government on Monday asked the National Electric Power Regulatory Authority (Nepra) to immediately approve first part of its three-phased subsidy rationalisation plan envisaging creation of four new tariff slabs and a slight expansion in the definition of lifeline consumers to 100 units per month for gradual reduction of electricity subsidies. Nepra conducted the public hearing on the subsidy rationalisation…
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