Auto sales, including those reported by companies that aren’t members of the Pakistan Automotive Manufacturers Association, declined in September by seven per cent on a month-on-month basis to about 13,000 units. According to data compiled by Topline Securities, auto sales dropped 51pc on an annual basis amid escalating prices, expensive auto financing and low purchasing power of consumers. Th
Oil prices struggled to find their footing in Asian trade on Thursday after easing in the previous session on the back of a weakening global demand outlook. Brent crude futures dropped seven cents, or 0.1 per cent, to $92.38 a barrel by 0310 GMT. US West Texas Intermediate crude was down 21 cents at $87.06 a barrel, or 0.2pc. Both Opec and the US Energy Department have cut their demand outlo
Saudi Arabia rejected as “not based on facts” criticism of an Opec+ decision last week to cut its oil production target despite United States objections and said Washington’s request to delay the cut by a month would have had negative economic consequences. The Opec+ decision was adopted through consensus, took into account the balance of supply and demand and was aimed at curbing market volati
A new World Bank report says that aggregate productivity in Pakistan has been stagnant or declining during the past decade, mostly driven by firms and farms becoming less productive over time. The World Bank report, titled “From Swimming in Sand to High and Sustainable Growth” focuses on growth in Pakistan, and key aspects of its proximate determinants: productivity, capital and talent accumul
The Securities and Exchange Commission of Pakistan (SECP) registered 2,434 new companies in September, showing a month-on-month increase of 9 per cent. The total number of registered companies now stands at 178,733. The SECP said 55 new companies have foreign investors from Afghanistan, China, Canada, Denmark, France, Germany, Italy, Jordan, Malaysia, Philippines, Portugal, Saudi Arabia