The safe-haven dollar advanced broadly in early Asian trade on Monday, as peace talks between the US and Iran broke down and the US Navy prepared a blockade of Iranian ports. The euro was down 0.3% at $1.1684, while the British pound fell 0.5% to $1.3398. The risk-sensitive Australian dollar was 0.6% lower at $0.7030, and the New Zealand dollar was off 0.4% at $0.5816. US President Donald
Gold prices fell to a near one-week low on Monday, pressured by a stronger dollar, while a surge in oil prices following failed US-Iran peace talks fuelled inflation worries and dampened expectations for Federal Reserve interest rate cuts this year. Spot gold was down 0.6% at $4,718.98 per ounce, as of 0222 GMT, after hitting its lowest level since April 7 earlier in the session. US gold
Oil prices climbed above $100 a barrel on Monday as the US Navy prepared to block ships to and fromIran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war. Brent crude futures rose $6.96, or 7.3%, to $102.16 a barrel by 0430 GMT after settling 0.75% lower on Friday. US West Texas Intermediate was up $8.1
Shield Corporation Limited (SCL), a Pakistani manufacturer of baby care and hygiene products, have proposed purchasing 209,598 ordinary shares—representing 5.37% of the company’s paid-up capital—for Rs750 per share. “We hereby convey the acceptance of the majority shareholders/sponsors under PSX Regulation No. 5.14.7 to purchase the ordinary shares of Shield Corporation Limited at a PSX propose
Federal Minister for Commerce Jam Kamal Khan has directed authorities to prepare a proposal to reduce the general sales tax (GST) on dairy products from 18% to 10%, in a move that could provide significant tax relief and support to Pakistan’s dairy sector. Jam Kamal chaired a meeting with a delegation of the Pakistan Dairy Association (PDA), led by CEO Dr Shehzad Amin. The meeting was also atte