Sluggish internet causes anxiety, fears of business losses on August 25, 2024Gathered outside a restaurant in Pakistan’s Karachi this week, a group of delivery drivers were staring at their phones struggling with poor Internet connectivity and worrying about their income taking a hit. One delivery driver, Mohammad Tariq, said he and his colleagues “were struggling to start our shift because there is no Internet,” adding that […]
Oil climbs $2/barrel on August 25, 2024US light crude oil gained more than $2 a barrel on Friday after comments by US Federal Reserve Chair Jerome Powell indicated the central bank was preparing to cut interest rates. Brent crude futures rose by $1.88, or 2.43%, to $79.01 a barrel at 12:55 p.m. CDT (1755 GMT). US West Texas Intermediate (WTI) crude […]
Robert F. Kennedy Jr suspends US presidential campaign, backs Trump on August 25, 2024Independent presidential candidate Robert F. Kennedy Jr endorsed Donald Trump on Friday after announcing the suspension of his campaign. His national support had fallen to just 4 percent, according to an opinion survey held earlier this month. Independent presidential candidate Robert F. Kennedy Jr. said on Friday he would suspend his campaign, and endorsed Republican […]
Pakistani singles seek love on their own terms on August 25, 2024Dozens of young singles gathered this week to meet potential marriage partners in Pakistan’s eastern city of Lahore, the first attempt by a UK-based matrimonial app to help people find spouses in person in the conservative Islamic country. Typically, marriages in Pakistan are arranged by parents who look for suitable matches for their children from […]
One case of clade 2 mpox detected in Pakistan, new strain not detected on August 20, 2024One case of the mpox virus has been detected in Pakistan of the clade 2 variety, the country’s ministry of health said on Monday, adding that no cases of the clade 1b strain of the disease have been diagnosed. Clade 1b has triggered global concern because it seems to spread more easily though routine close […]
China’s July aluminium imports rise 11.1% y/y on August 19, 2024China’s imports of unwrought aluminium and aluminium products rose 11.1% in July from the same month last year to 260,000 metric tons, customs data showed on Sunday. Imports for the first seven months of this year totalled 2.3 million tons, up 60.6% from the same period a year earlier, according to the data from the […]
China’s gasoline exports fall 35.7% in July as profit margins weaken on August 19, 2024China’s gasoline exports fell 35.7% in July from a year earlier, customs data showed on Sunday, as refiners lowered crude runs and held back from shipments due to weakening profit margins. Gasoline exports stood at 790,000 metric tons last month, or 5.77 million barrels per day, data from the General Administration of Customs showed. China […]
US natural gas slips on August 19, 2024US natural gas futures dropped more than 3% to a one-week low on Friday on forecasts for less hot weather than previously expected and oversupply of gas in storage, even though a federal weekly report showed a surprise draw in inventories this week. Front-month gas futures for September delivery on the New York Mercantile Exchange […]
Russian rouble continues to weaken on Kursk escalation risks on August 15, 2024The Russian rouble weakened against the dollar on Wednesday after touching a 10-month low and then rebounding in the previous day’s session on risks of escalation following Ukraine’s biggest attack on the Russian territory since the start of the war. By 0745 GMT, the rouble was 1.7% weaker at 92.10 to the dollar, according to […]
Survival of the fittest: Petrochemical makers battle global glut on August 11, 2024Petrochemical producers in Europe and Asia are in survival mode as years of capacity build-up in top market China and high energy costs in Europe have depressed margins for two consecutive years, forcing firms to consolidate. The sector’s weakness is troubling for a global oil industry looking at petrochemicals to keep profits rolling in as […]