Briefs

Samsung, Jazz to launch Galaxy S8

By our correspondent

KARACHI: Samsung and Jazz have partnered together with the objective of launching the much-anticipated flagship devices Galaxy S8 and S8+ across Pakistan, a statement said on Saturday. All Jazz and Warid customers can avail of access to free 3G and LTE for a month on the purchase of every Samsung Galaxy S8 and S8+, it added. “A growing number of urban smartphone users love Samsung Galaxy products, as they inspire millions of people worldwide,” said J H Lee, president of Samsung Electronics, Pakistan and Afghanistan. “As we join hands with Jazz, our aim is to unleash a similar inspirational spirit for our fans in Pakistan,” he added.

US gasoline demand falls: EIA

NEW YORK: U.S. gasoline demand fell 2.4 percent in February from a year earlier, the second straight monthly decline, according to data released on Friday by the U.S. Energy Information Administration that suggested the market may have trouble repeating last year's record volumes.Gasoline demand fell 218,000 barrels per day to 8.988 million bpd in February, according to the EIA's petroleum supply monthly report.  January demand for gasoline fell 1.9 percent from last year, EIA data showed.  U.S. refiners have said weather issues cut demand early this year. They still expect gasoline demand will rise modestly from last year's record levels, executives said in an earnings calls this week.  U.S. total oil demand in February fell 2.5 percent, or 492,000 bpd from a year ago, to 19.18 million bpd, EIA data showed.

Trump to order study on trade deals

WASHINGTON: President Donald Trump will sign an executive order on Saturday seeking to identify any problems caused by the nation´s existing trade agreements, including an examination of U.S. involvement in the World Trade Organization, a top trade official said.  Commerce Secretary Wilbur Ross said his department would work to issue a report in 180 days outlining challenges with these trade deals and possible solutions.  Ross singled out the World Trade Organization as an entity that may need to make some changes, although he cautioned that the administration had not made any decisions yet.  "There´s always the potential for amending organization´s charters like the WTO, particularly when you´re in the position we are," he said.

S Arabia, Central Asia in oil accord

DUBAI: Saudi Arabia's Energy Minister Khalid al-Falih said on Saturday there was consensus with Central Asia over oil markets and production levels.  Falih, who had arrived on a visit to Turkmenistan earlier and is on a tour of Central Asian nations, also tweeted there was agreement with the region on the necessity of sticking to production cuts.

Point of View

Margaret Hodge

If some corrupt official, who earns £40,000 a year, buys a house in the UK for £2 million, there is unexplained wealth

— UK opposition Labour MP

Rupee may remain stable

By our correspondent

The rupee is likely to remain stable next week on sufficient external liquidity available to meet importers’ demand, analysts said on Saturday.  “The rupee/dollar parity seems to trade within the range of 104.70 and 104.80 due to expected strong supply of the US currency,” a currency analyst said. In the interbank market, the rupee opened the week on a quiet note. It showed a stable trend over the previous week’s closing and was traded at 104.84/104.82, amid low trading activity. However, it posted gains during the last two sessions on sluggish demand by importers.