The Asian Development Bank (ADB) is likely to approve a financing facility of around USD 1.2 billion for the rehabilitation of Pakistan Railways’ Main Line-1 (ML-1) project from Karachi to Rohri section, for which the bank is also planning to bring in other development partners as co-financiers. This was revealed by well-placed sources while talking to Business Recorder. Speaking about ADB-s
Pakistan’s current account swung back into deficit in April as a sharp rise in imports, driven largely by higher global oil prices, outweighed earlier gains. The State Bank of Pakistan (SBP) reported on Monday that the current account posted a deficit of USD324 million in April 2026, compared with a surplus of USD1.134 billion in March 2026, which was the highest in a year. Current account p
Gold held steady on Tuesday as the dollar weakened and crude oil prices fell after U.S. President Donald Trump paused a planned attack against Iran, easing concerns about inflation and prolonged high interest rates. Fundamentals Spot gold was steady at $4,565.40 per ounce, as of 0103 GMT, after hitting its lowest level since March 30 in the previous session. US gold futures for June delive
Oil prices fell more than 2% in early Asian trade on Tuesday after US President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East. Brent futures for July delivery fell $3.01, or 2.7%, to $109.09 a barrel as of 0001 GMT, while US West Texas Intermediate crude for June delivery fell $1.38, or 1.3%, to $107.28. The two benchm
Selling pressure was observed at the Pakistan Stock Exchange (PSX) as tensions in the Middle East escalated, with the benchmark KSE-100 Index shedding nearly 1,600 points during the opening hours of trading on Monday. At 11:44am, the benchmark index was hovering at 164,025.57, down by 1,570.50 points or 0.95%. Selling was observed in key sectors, including automobile assemblers, cement, comm