Oil rose towards 12-week highs above $79 on Monday, driven by investor appetite for commodities and energy risk, with macroeconomic indicators in top consumers the United States and China showing slower but sustained growth. U.S. September crude CLc1 rose 24 cents to $79.19 a barrel by 0200 GMT, having reached a 12-week high of $79.69 [...]
Oil prices extended gains in light Asian trade Tuesday, riding a rebound the previous session following a modest rise on Wall Street, analysts said. New York’s main contract, light sweet crude for delivery in August, rose 24 cents to 76.78 dollars a barrel on its last day of trade, while Brent North Sea crude for [...]
Oil eased to below $77 a barrel on Wednesday, falling from a two-week high, after a weekly industry report showed a surprise increase in U.S. crude inventories and European equities turned lower. U.S. crude stockpiles rose by 1.7 million barrels, the American Petroleum Institute reported on Tuesday. European stocks fell after gaining in the previous [...]
WASHINGTON: The World Bank on Thursday approved a four-year $6.2 billion lending program for Pakistan that seeks to boost tax revenues, make energy supplies more reliable and improve conditions in conflict-hit areas. While the lending strategy from 2010 to 2013 is slightly less than the $6.5 billion committed during the last four-year period, the program [...]
The UK economy continued to grow in the second quarter of this year, according to a survey by the British Chambers of Commerce (BCC). The organisation, which collected data from 5,600 businesses across the country, predicted growth for the three months to the end of June of between 0.6% and 0.7%. However, serious concerns over [...]
One energy company is facing investigation on a postcode lottery over bills, with another also facing action from the regulator. The two, which have not been named, have been asked “serious questions” by Ofgem over price differentials. One must explain why the cost of energy is apparently different in one area of the country compared [...]
Leaders at the G20 summit in Canada have agreed to cut national budget deficits while endeavouring to promote economic growth. Host Stephen Harper, the Canadian prime minister, said that despite these cuts, short-term economic stimulus measures would still be needed. Correspondents note that every major G20 country had already committed to halve deficits within three [...]
KARACHI: Chairman Vegetable Exporters Association (VEA), Waheed Ahmed said Saturday seeing the decline in onion production in India, the Pakistani onion is on high demand in international market. He told Geo news, onion is being exported due to excessive production in Pakistan and it is estimated that a total of 400 tonnes of onion will [...]
ISLAMABAD: Federal Minister for Finance Senator Abdul Hafeez Sheikh said Saturday the government has allocated additional subsidy of Rs. 8 billion in federal budget for fiscal year 2010-11 by not hiking power tariff, Geo news reported. This he said talking to Geo news after attending post-budget seminar. A total of 216 development projects will see [...]
CHAMAN: The protracted spans of load shedding could not be abridged in Chaman where the heat-suffering people have been blown away with the exorbitant ice price, which is raging at Rs50/kilogram, Geo News reported Wednesday. The spell of load shedding continued unabated in the second largest border and commercial city of Balochistan as the 20-hour [...]
