A powerful US senator called Monday for Washington to freeze all cooperation with Saudi Arabia over its decision to “underwrite” Russia’s war in Ukraine by slashing oil production. Riyadh, Moscow and other top oil producers agreed last week to a deep cut in production to boost crude prices, in a move denounced by the United […]
Sales
Urea sales likely to show 41pc YoY decrease in June 2021
The country’s urea sales in June-2021 are expected to clock in at 687k tons, down 41pc YoY amid a high base of 1,165k tons in June-2020. To recall, industry had recorded second highest monthly urea sales during June-2020 after clarification emerged that there would be no subsidy on Urea, while subsidy will only be given […]
OMC sales up by 18pc YoY in FY21
The country’s oil sales have increased by 18pc YoY in FY21 to 19.4million tons, a sharp recovery from last year (FY20: down 12pc YoY) which was impacted due to COVID-19 linked lockdowns. Motor Spirit (MS) sales have reached an all time high of 8.2million tons, up 12pc YoY. This was on the back of (1) […]
Local cement sales likely to grow 45-49pc MoM in June
The country’s total cement sales in June are expected to increase by 11-15pc YoY and 30-34pc MoM to 5.1 to 5.3million tons, reaching utilization of around 93pc (adjusted for closed capacities). In absolute terms total June 2021 cement sales are likely to be the third highest monthly sales in history of Pakistan. Previously, October 2020 […]
Cement sales likely to decline by 17-23pc MoM in April
The country’s cement sales in April are expected to clock-in at 3.8 to 4.1mn tons, down by 17-23 percent MoM but up by 45 to 55 percent YoY. The Local cement sales are likely to decline by 17-21 percent MoM due to long Eid holidays (7-8days), wherein four days local sales were zero and in […]
Walmart Q1 profits fall 32pc as pandemic sales growth slows
New York: Walmart reported a drop in first-quarter profits Tuesday with pandemic-related sales growth moderating somewhat, but shares rallied as the results still topped expectations. Profits in the quarter ending April 30 came in at $2.7 billion, down 32 percent from the year-ago period. Revenues were $138.3 billion, up three percent. The world’s biggest retailer, […]