US President Donald Trump said Saturday he would “welcome” Chinese investment in Venezuela’s oil industry as the South American country seeks to revive its battered economy following the ouster of leader Nicolas Maduro. Venezuela sits on the world’s largest proven oil reserves and reformed laws this week to open the sector up to private and foreign investment. China had been the dominant buyer
Oil prices fell 3% on Monday as US President Donald Trump said over the weekend Iran was “seriously talking” with Washington, signalling de-escalation with an OPEC member after risks of a military strike drove prices to multi-month highs. Brent crude futures were down $2, or 2.9%, to $67.28 per barrel at 0100 GMT. U.S. West Texas Intermediate crude also fell $2, or 3.1%, to $63.17 per barrel.
Buying returned at the Pakistan Stock Exchange (PSX) after a day of massive selling pressure, with the benchmark KSE-100 Index gaining nearly 1,600 points during the opening minutes of trading on Friday. At 9:20am, the benchmark index was hovering at 183,916.88, an increase of 1,578.76 points or 0.87%. Buying interest was observed in key sectors, including commercial banks, cement, fertilize
The Pakistan Stock Exchange (PSX) witnessed a bloodbath sell-off after a recent period of buoyancy and closed on a decisively bearish note on Thursday, with heavy selling pressure dragging the benchmark KSE-100 index down by more than 6,000 points to 182,338. Investors were rattled by escalating tensions in the Middle East and disappointing corporate earnings, which combined to trigger panic-drive
The combined profitability of Pakistan's top 15 state-owned companies decreased last year to a mere Rs622 billion, and there was only one firm with annual profits exceeding Rs100 billion, according to a new report by the Ministry of Finance. The report, which has been approved by a cabinet committee, also pointed out serious flaws in the governance structures of all the public sector companies,