Oil hits highest in almost 3 years as supply tightens
Oil hits highest in almost 3 years as supply tightens
Brent futures rose 84 cents, or 1.1%, to settle at $78.09 a barrel - Highest close for Brent since Oct 2018, while U.S. WTI Crude rose 68 cents, or 0.9%, to settle at $73.98.
Brent could hit $80 by the end of September due to stock draws, lower OPEC production and stronger Middle East demand, UBS analysts wrote.
Source: CNBC
Link: https://www.cnbc.com/2021/09/24/oil-markets-supplies-opec-and-allies.html
ADB projects Pakistan's economy to grow by 4pc in FY22
ADB projects Pakistan's economy to grow by 4pc in FY22
The growth forecast witnessed recovery in private investment as consumer confidence and business actively improved amid the ongoing vaccination rollout and various economic stimulus measures announced in the budget for 2021-22.
"Inflationary pressures will likely come from ongoing economic recovery and rising global oil prices but should be tempered by expenditure reform and the government's commitment not to borrow directly from the central bank."
Source: Dawn
Link: https://www.dawn.com/news/1647800/adb-projects-pakistans-economy-to-grow-by-4pc-in-fy22
Chip Shortage to Cost Automakers $210 Billion in Sales
Chip Shortage to Cost Automakers $210 Billion in Sales
The forecast, estimates that the shortage will cost the auto industry $210 billion globally in lost revenue in 2021, up sharply from the May projections of $110 billion in forgone sales and 3.9 million fewer vehicles built.
Source: Entrepreneur
Link: https://www.entrepreneur.com/article/387384
Technology exports surge 80.6pc in August
Technology exports surge 80.6pc in August
Pakistanâ technology exports have increased by 80.6 percent in Aug'21 compared to Aug'20.
During FY 2020/21, Pakistanâs IT exports increased 47.4 percent, and crossed $2 billion mark for the first time in the countryâs history, whereas, in fiscal year 2019/20, the exports were $1.44 billion.
Source: The News
Link: https://www.thenews.com.pk/print/893229-technology-exports-surge-80-6pc-in-august
Textile, clothing exports grow 29 percent to $2.93 Billion
Textile, clothing exports grow 29 percent to $2.93 Billion
Pakistanâs textile and clothing exports posted impressive growth in the first two months of this year increasing by 28.67 per cent to $2.93 billion compared to $2.28bn over the year, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday.
Source: Dawn
Link: https://www.dawn.com/news/1646951/textile-clothing-exports-grow-29pc-in-2mfy22
Billionaire Investor Mark Cuban predicts that Stablecoins will be one of âthe first to get regulatedâ
Billionaire Investor Mark Cuban predicts that Stablecoins will be one of âthe first to get regulatedâ
Stablecoins are cryptocurrencies that are meant to be pegged to a reserve asset, such as gold or the U.S. dollar, to keep their value stable.
In his tweet he says, "...Is it stable? Do buyers understand what the risks are? It needs standards"
Source: CNBC
Link: https://www.cnbc.com/2021/09/17/mark-cuban-stablecoins-will-be-one-of-the-first-to-get-regulated.html
RDA inflows reach $2.114bn
RDA inflows reach $2.114bn
The State Bank of PakiÂstanâs data shows that the RDA inflows have significantly gone up since June this year, which puts the government in a better position to face a much bigger current account deficit expected in FY22. Out of the total inflows Naya Pakistan CertiÂficates attracted $1,475m so far.
Source: Dawn
Link:
https://www.dawn.com/news/1645149/rda-inflows-reach-2114bn
Decentralized finance could help decrease wealth inequality around the globe.
Decentralized finance could help decrease wealth inequality around the globe.
Economists Marion Laboure and Juergen Braunstein characterize DeFi as âan opportunity to democratize finance and decrease wealth inequality.â
Source: Entrepreneur
Link: https://www.entrepreneur.com/article/379012
