China’s crude oil imports from Russia reached a record high in 2024, rising 1% from 2023, while shipments from Saudi Arabia fell 9%, according to data released Monday. Refiners prioritized reduced Russian supplies to cushion weak margins. Data from the General Administration of Customs showed that China imported 108.5 million metric tons of crude from … Read more
Prime Minister Muhammad Shehbaz Sharif on Friday congratulated the nation on the record increase in foreign remittances in December 2024, saying the claims of those who were chanting to halt the country’s economy have been proven to be baseless. Foreign remittances increased during December 2024 to $3.1 billion compared to November 2024, recording a monthly … Read more
“Wicked” is very, very popular – on the big screen, and now on video on demand. In a rare show of transparency regarding its final earnings, Universal said the big-budget musical grossed $26 million on its first day and $70 million in its first week of digital release in the United States and Canada. “Wicked” … Read more
Tesla reported a record year in China with sales exceeding 657,000 vehicles in 2024, representing an 8.8% increase compared to the previous year. Despite this strong performance in the world’s largest auto market, global Tesla deliveries fell for the first time, falling 1.1% year-on-year to 1.79 million vehicles. China accounted for 36.7% of Tesla’s global … Read more
KARACHI: The outlook for Pakistan’s stock market remains favorable, driven by expectations of continued monetary easing and improving macroeconomic environment. “The deflationary environment, coupled with easing external financing requirements, makes the stock more attractive, especially with the market trading at a P/E of 5.0x and a DY of 10.2%,” analysts at AKD Research noted. The … Read more
Consumers across the United States spent an unprecedented $10.8 billion online during Black Friday, according to data from Adobe Analytics, as reported by *The News*. This marks a major milestone in the holiday shopping season, as online spending increased 10.2% compared to last year. Black Friday, which traditionally signals the start of the holiday shopping … Read more
The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Tuesday, with the KSE-100 index falling by 3,505.62 points, or 3.57%, to close at 94,574.16. The market opened on a bearish note, falling more than 600 points early in the day, as political tensions engulfed the federal capital. Intraday trading witnessed a brief spike at … Read more
Climatologists working within the European Union Copernicus Climate Change Service have announced that 2024 is “virtually certain” to be the hottest year on record. According to its ERA5 dataset, the agency said it is “virtually certain” that the annual temperature for 2024 will be more than 1.5 degrees Celsius above the pre-industrial level, and will … Read more
A stock broker monitors stock prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on May 16, 2022. — AFP Circulation remains strong, with 587 million notes in circulation. Systems, Lucky, Cherat, Hubco, Engro, are among the top performers. Analysts say Qatar and Saudi Arabia’s investment pledges have boosted sentiment. Stocks … Read more
Islamabad: In a positive development for the Pakistani economy, the State Bank of Pakistan (SBP) has hinted that remittances for October 2024 are expected to reach or exceed $3 billion. This trend, revealed during the Monetary Policy Committee’s recent briefing, is expected to significantly reduce the current account deficit to negligible levels. The expected remittance … Read more