In The News

Top UAE banks resilient despite profit fall The first-half profit of the top 10 listed UAE banks declined at an average of 38.9 percent against their performance in the same period in 2019 as the overall net profit of 54 …

SBP reserves fall $205mn to $12.15bn The foreign exchange reserves held by the central bank declined 1.7 percent on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On October 2, the foreign …

Tankers steal the show among newbuilding contracting Ship owners turned to tanker ordering over the course of the past week. In its latest weekly report, shipbroker said that it was a week in which tankers attracted all of the attention …

PAKISTAN Record time and money spent using mobile apps in q3 2020: Lockdowns are starting to end and fewer people are now working or studying at home. Despite that, there has been a record increase in user time and money …

World Commodities Trading OPEC: oil demand will grow until late 2030s OPEC expects global oil demand will exceed the pre-pandemic levels in 2022 and grow steadily until the late 2030s, when it will begin to plateau, the cartel said on …

UAE-Israel peace treaty could boost tourism and tech sectors The normalisation of relations by the UAE and Bahrain with Israel is likely to benefit economies of all three nations and contribute to broader geopolitical stability in the region, S&P said. …

Digitisation to assist economy recover The danger of a second wave of Covid-19 pandemic is still looming in Pakistan while the first wave dealt a blow to business operations of small and medium enterprises (SMEs), said Pak-China Joint Chamber of …

Ship owners looking for more deals in the dry bulk segment Ship owners are actively looking for more deals in the dry bulk S&P market. In its latest weekly report, Intermodal said that it was another active week in terms …

PAKISTAN NEWS: Cheaper Tesla ready ‘in about three years’: Tesla founder Elon Musk has announced technology that he says will make Tesla batteries cheaper and more powerful. At a live presentation that Mr Musk labelled ‘Battery Day’ he also teased …

Commodity markets in 2020 Oil prices slide on Libyan export talks, surging European virus cases Oil declined as Libya signaled the resumption of some crude exports, while surging coronavirus cases clouded the outlook for demand and weighed on risky assets. …

Jebel Ali port welcomes container ship HMM GDANSK on maiden visit Gulf: DP World’s flagship Jebel Ali Port has welcomed HMM GDANSK, one of the world’s largest container vessels, which is now on the return leg of her maiden international …

Traders fear 10pc drop in Sept exports Traders have voiced fear that Pakistan’s export revenues will decline further in the coming months and have called on the government to make serious efforts in order to place monthly exports on a …