Asian stocks soared to record highs on Thursday while the US dollar slipped and oil nursed steep losses as traders embraced the prospect of a peace deal in the Middle East, although the fate of the critical Strait of Hormuz remains unresolved. Japan’s Nikkei returned from a long holiday to cross 62,000 for the first time, catching up on a blistering AI-led rally after robust earnings that has
Federal Minister for Economic Affairs Ahad Cheema said that the government is closely coordinating with all provincial governments to effectively achieve the World Bank’s Country Partnership Framework (CPF) objectives. The minister made his remarks during a meeting with Bolormaa Amgaabazar, Country Director of the World Bank, read a statement on Wednesday. The discussion focused on the key o
Finance Minister Muhammad Aurangzeb said the country has sufficient internal resources to support investment and growth, stressing that local investors will play a central role in financing key sectors as capital markets are strengthened to unlock long-term funding. Addressing the Capital Market Development Fund (CMDF) Signing Ceremony organised by the SECP at the SECP Office in Islamabad, the
The Pakistani rupee strengthened against the US dollar, appreciating 0.01% in the inter-bank market on Wednesday. At close, the local currency settled at 278.72, a gain of Rs0.03 against the greenback. On Tuesday, the local unit closed at 278.75. Moreover, the US dollar fell against most major currencies on Wednesday. The Japanese yen strengthened sharply to a more than two-month high as
Investors are showing signs of diversifying away from U.S. Treasuries as global debt levels hit a record of nearly $353 trillion by end-March, a report by the Institute of International Finance published on Wednesday found. IIF’s quarterly Global Debt Monitor said that strengthening international demand for Japanese and European government bonds contrasted with broadly stable demand for U.S. Tr