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Turkish Army Pension Fund To Buy British Steel


August 16, 2019

The Turkish military pension fund OYAK said Friday it had signed a provisional deal to buy British Steel after the UK steelmaker was forced into liquidation in May Ankara, (UrduPoint / Pakistan Point News – APP – 16th Aug, 2019 ) :The Turkish military pension fund OYAK said Friday it had signed a provisional deal to buy British Steel after the UK steelmaker was …

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OECD Commercial Oil Stocks Stand 67 Mln Barrels Above 5-Year Average In June – OPEC Report


August 16, 2019

The commercial oil stocks in countries members of the Organization for Economic Cooperation and Development (OECD) stood at 2,955 million barrels and were 67 million barrels above the five-year average in June, according to the August 2019 OPEC Monthly Oil Market Report MOSCOW (UrduPoint News / Sputnik – 16th August, 2019) The commercial oil stocks in countries members of the Organization for Economic …

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Saudi Arabia Reduces Oil Production To 9.58Mln Bpd In July – OPEC


August 16, 2019

Saudi Arabia reduced in July its oil production by 202,000 barrels per day month-on-month to 9.58 million barrels per day, downplaying the growth that it showed in June, the Organization of the Petroleum Exporting Countries (OPEC) said in its monthly oil report, released on Friday, citing data provided by the country MOSCOW (UrduPoint News / Sputnik – 16th August, 2019) Saudi …

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OPEC Oil Production Averaged 29.61 Mln Bpd In July – Monthly Oil Market Report


August 16, 2019

OPEC oil production in July decreased month on month by 246,000 barrels per day – to 29.61 million barrels per day, according to the August 2019 OPEC Monthly Oil Market Report MOSCOW (UrduPoint News / Sputnik – 16th August, 2019) OPEC oil production in July decreased month on month by 246,000 barrels per day – to 29.61 million barrels per day, according to the August 2019 OPEC Monthly OilMarket Report. “According …

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State Bank Of Pakistan Injects Rs 330 Bn Into Market


August 16, 2019

State Bank of Pakistan on Friday injected Rs 330 billion into money market as reverse repo purchase through its open market operation KARACHI, (UrduPoint / Pakistan Point News – APP – 16th Aug, 2019 ):State Bank of Pakistan on Friday injected Rs 330 billion into money market as reverse repo purchase through its open market operation. Eighteen quotes of Rs …

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IMF warns increasing US tariffs could cut China growth sharply


August 16, 2019

WASHINGTON: China´s economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday. The International Monetary Fund trimmed its growth forecast for China to 6.2 percent this year, assuming no new tariffs are imposed. However, new US tariffs of …

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‘Trade tensions and a weaker yuan drive Chinese crypto demand’


August 15, 2019

LONDON: Trade tensions between the United States and China and a weakening Yuan are boosting demand for cryptocurrencies among Chinese investors, market players from Asia to New York said. Exchanges, researchers and brokers told Reuters they have seen an uptick in activity at crypto trading venues popular with Chinese. They said over-the-counter (OTC) brokers, which act as middlemen for buyers …

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Kinno growers reject low prices


August 15, 2019

ISLAMABAD: Citrus growers have rejected the purchase rate of Rs600 per 40 kg for kinno in the upcoming season terming it a conspiracy by traders to fleece orchid owners. The reaction came after the recent decision by All Fruits and Vegetables Exporters, Importers and Merchants Association (PFVA) and processing plants owners for the produce harvested in 2019-20 season. A group …

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Sepa approves coal storage project amid serious environmental concerns


August 15, 2019

KARACHI: Ignoring court directives and its own law that calls for subjecting a project likely to cause adverse effect to a process of environmental impact assessment (EIA) followed by a public review, the Sindh Environmental Protection Agency (Sepa) recently granted approval to a coal storage facility, sources told Dawn. The environmental watchdog, sources said, approved the 23-acre coal storage project …

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Law to protect ownership rights of indigenous goods in foreign markets


August 15, 2019

ISLAMABAD: After a delay of more than 18 years, the government has finally decided to table Geographical Indication (GI) Bill in the National Assembly to protect ownership rights of goods produced in the country. Due to the absence of GI legislation, international brands continue selling Pakistan-origin goods such as Paul Smith’s Peshawari Chappal, Morrocan Ajrak and California Basmati, depriving the …

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