Karachi, April 21, 2020: Ciena Group of USA has expressed its interest in reviving Tuwairqi Steel Mills Limited (TSML), a cutting-edge $ 340 million 1.28 MTPY Direct Reduction of Iron (DRI) plant which has been lying idle since 2013. After coming into production in January 2013, TSML’s DRI plant had to be shut-down in September…
Pensioners without pensions. Schools without students. Wells without water. Karachi, April 21, 2020: A report issued jointly by ACCA (the Association of Chartered Certified Accountants) and IFAC (the International Federation of Accountants), Is cash still king? Maximising the benefits of accrual information in the public sector not only confirms that a complete public sector transition…
Karachi, April 21, 2020: Market opened -478 points today and continued the descent throughout the session, which extended to -1199 points by the end of session. The benchmark index closed -1078 points. Concerns raised by IMF over G20 debt relief, announced last week by the Government, as well as hinting higher than expected inflation with…
Karachi, April 21, 2020: Large scale manufacturing (LSM) contracted by 1.15 percent YoY during the month of Feb-2020, compared to a decline of 5.96 percent YoY in Jan-2020. On MoM basis, LSM contracted by 0.91 percent. After this month, LSM decline in 8MFY20 amounted to -3.03 percent YoY. The decline in LSM was relatively muted…
US running out of places to store oil Islamabad, April 21, 2020:In a bizarre movement in the oil market, the oil prices turns Into negative territory on Monday. The price of a barrel of oil went negative due to lower demand and uncertainty in the oil market. The Future contract for the month of May…