NAB law being amended in next few weeks: Tarin (Neutral)
Finance Minister Shaukat Tarin believes the NAB Law would need to be changed, and some progress is expected in the coming weeks. He claimed that LNG was first imported from Qatar at a price that was 13.7 percent more than Brent, and then at a price that was 10.4 percent higher. Despite the reduced import rate, the NAB has demanded the agreement’s files.
NCOC decides to call in army (Neutral)
The army was summoned by the National Command and Operation Centre (NCOC) on Tuesday to apply the obligatory coronavirus Standard Operating Procedures (SOPs). According to a statement from the forum, the NCOC also decided to make coronavirus vaccine mandatory for internal travel beginning August 1.
Oil Dips After Hitting 2018 High With Market Poised to Tighten
With an industry data indicating to a significant drop in U.S. crude stockpiles, oil slipped lower after closing at its highest level since October 2018, adding to concerns of a quickly tightening global market.
Asian shares lower on U.S. inflation jitters (Neutral)
On Wednesday, Asian stocks tumbled after data showing the largest increase in U.S. inflation in 13 years fueled market expectations that the Federal Reserve will withdraw pandemic-era stimulus sooner than expected. However, after surging a day earlier on the inflation news, US bond rates and the currency were weaker in Asian trade.