Author: Web Desk

[ad_1] Image of solar panels and win turbines. — Reuters/FileGlobal demand for critical metals may increase by 2040.Some minerals are critical to making electric vehicle batteries.China processes 50% of the world’s cobalt.PARIS: After nearly a century of geopolitical tension over access to oil, experts worry that the global transition to clean energy is creating new dependencies on the critical minerals needed for solar panels, wind turbines and electric vehicle batteries.Control over most of these essential elements is concentrated in a handful of countries, none more than China, they note.Which metals are key for the energy transition?Cobalt, nickel, manganese and lithium…

[ad_1] An investor can be seen looking at the digital stock board at the Pakistan Stock Exchange. — AFP/File Stocks opened in green on FATF grey list exit.It was a range-bound day for the apex bourse.Profit-taking ensued after intraday high of 42,672 points.KARACHI: Stocks printed modest gains on Monday after profit-selling cut an early rally short despite Pakistan’s exit from the international money-laundering and terror-financing watchdog’s list of extensively monitored countries, as political noise remains a concern.Topline Securities in a note said equities commenced the trading week on a celebratory note due to the approval of $1.5 billion from the Asian Development…

[ad_1] A currency dealer exchanging Pakistani rupee notes. — Reuters/FileRupee closes at Rs220.41 in interbank market.Improvement in rupee comes after FATF’s decision.Tresmark says rupee is expected to trade at 216 in the next 10 days.KARACHI: The Pakistani rupee continued to recover for the second consecutive session on Monday, gaining Rs0.43 against the US dollar in the interbank market.The data released by the State Bank of Pakistan (SBP) showed that the local currency closed at Rs220.41 per dollar after appreciating 0.20% compared to Friday’s close of 220.84.As per market experts, the improvement in the rupee comes after the Financial Action Task Force…

[ad_1] A representational image of gold jewellery. — Reuters/FileGold price in Pakistan rise by Rs1,300 per tola.Demand in Pakistan increase as wedding season kicks off.Investors look for hints on a shift in Fed monetary policy.KARACHI: Gold demand in Pakistan, a small market for gold at the global level, rose on Monday as key festivals and the wedding season boosted the appeal for the yellow metal.Data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of the precious metal declined by Rs1,300 per tola and Rs1,115 per 10 grams to settle at Rs147,700 per tola…

[ad_1] A Pakistan International Airlines (PIA) plane landing at an airport. — AFPFive-member CAA delegation to meet European Commission, IASA.European authorities to conduct technical meeting with delegation.Commission, IASA will visit Pakistan in 2023 to review measures.KARACHI: Pakistan International Airlines (PIA) will be resuming its flights in the United Kingdom after a two-year ban, sources told Geo News on Monday. A five-member delegation of the Civil Aviation Authority has left for Brussels to meet officials of the European Commission and International Aviation Safety Assessment (IASA) on October 25, said the sources.The sources further said that the European authorities had summoned CAA to conduct a technical…

[ad_1] Prime Minister Shehbaz Sharif meeting with Saudi Crown Prince Mohammed Bin Salman. —APP/FileSaudi Arabia to establish state-of-the-art refinery in Hub.Project revived due to efforts of Shehbaz Sharif government.Saudi Crown Prince expected to visit Pakistan in November.ISLAMABAD: The Shehbaz Sharif government has succeeded in persuading Saudi Arabia to revive a major project shelved during the PTI government and establish a state-of-the-art deep conversion refinery along with a petrochemical complex in Pakistan, a top official at the Energy Ministry told The News.The official confided to the publication that a high-powered delegation of the kingdom, headed by Crown Prince Mohammad Bin Salman, is…

[ad_1] General view of Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. — ReutersUS executives head to kingdom despite political friction.Riyadh striving to diversify oil-dependent economy.Investment levels remain below target.DUBAI: A public spat between the United States and Saudi Arabia will not deter top Wall Street executives and US business leaders from a flagship investment event starting on Tuesday where the kingdom will seek deals to reduce its economy’s reliance on oil.President Joe Biden has vowed “consequences” for US-Saudi ties over an OPEC+ decision this month to cut oil output targets, which Riyadh…

[ad_1] Image showing a sign board with the words FATF inscribed on it. — ReutersBusiness community says development would attract foreign direct investment, promote export, and improveg credit ratingsSays move will also address liquidity issues as releases from  multilateral and other donor agencies.Pakistan had borne accumulative financial losses to the tune of $40 billion during the last three years as it was put on the grey list of FATF.ISLAMABAD: Hailing the Financial Action Task Force’s (FATF) decision of Pakistan’s removal from the grey list, the business community on Sunday said coming out of the watchdog’s increased monitoring process would boost…

[ad_1] World Bank Vice President for South Asia Martin Raiser. — TwitterMartin Raiser says Pakistan would have to take internal steps.Says international community should help Pakistan. He adds Pakistan needs roadmap for flood recovery. Pakistan will have to take internal measures along with help from the international community by implementing economic reforms to recover from the cataclysmic floods, said World Bank Vice President for South Asia Martin Raiser on Sunday. In an interview with Geo.tv, Raiser talked about Pakistan’s situation after facing heavy flooding and said that the country has been badly affected by the climate change. He said that the depth of the crisis is unprecedented. The…

[ad_1] A person counting notes. — AFP/File Analysts predict multilateral creditor’s assistance will strengthen rupee. Rupee expected to trade at 216 to the dollar in next 10 days. Analysts see interest rates in US topping 5%.KARACHI: Rupee is likely to appreciate against the US dollar in the coming week, depending on the expected inflows from the Asian Development Bank (ADB) and Pakistan’s removal from the Financial Action Task Force’s (FATF) grey list, The News reported. The local currency dropped against the dollar by 0.89% this week in the interbank market. However, in the final trading session on Thursday, the rupee drove up to 220.84 due to positive news…