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Showing posts with label trading. Show all posts
Showing posts with label trading. Show all posts

Gilani positive over govt’s fate

Govt can’t afford subsidies on POL products
Special Correspondent
LAHORE: Prime Minister Syed Yousuf Raza Gilani looks determined and confident over despite latest political move, as on Sunday he said that government is not going anywhere. He was talking to the newsmen here in Lahore after meeting with former JI Ameer Qazi Hussain Ahmed. Prime Minister Gilani said that MQM’s departure makes no difference to the government and says that he doesn’t see any crisis or the government’s collapse.
Gilani asserted that government would continue to function with or without any coalition partner. He was optimistic that PML-N Chief Nawaz Sharif is in favor of democratic process and would not let it derail.
To a question on the recent increase in the prices of petroleum products, Gilani said that government could not afford to grant any more subsidies on petroleum products, added that prices of the petroleum products was determined by an independent authority, that adjust the local fuel prices keeping its international prices in fore.
Prime Minister Gilani replying to another question said that PPP government doest not believe in horse-trading. Gilani said that government has no intention to bring amendments in the blasphemy law, while Sherry Rehman has submitted the motion in her personal capacity, added that govenment can’t even think of doing so.

Oil slips under $91; US inventory data in focus

US jobless claims at lowest in more than two years
LONDON: Oil prices slipped under $91 in thin trading volumes on Thursday ahead of the release of the latest weekly US oil inventory data, expected to show a drawdown in crude stocks for the fourth consecutive week. US crude for February delivery fell 57 cents to $90.55 a barrel by 1415 GMT. ICE Brent crude shed 41 cents to $93.73
Oil prices brushed off a positive reading of new US jobless claims, which fell to their lowest levels in two years, suggesting the labour market could be regaining strength. Prices have traded range-bound near $91 a barrel after touching 26-month highs of $91.88 a barrel at the start of the week, but weakened during the penultimate trading session of 2010.