Oil prices settled higher for the third consecutive session on Tuesday as stark differences between the US and Iran over a proposal to end the war in the Middle East raised concerns that supply disruptions upending the global oil market are likely to be prolonged. Brent crude futures gained USD3.56, or 3.42 percent, to settle at USD107.77 a barrel, and US West Texas Intermediate futures closed
The State Bank of Pakistan (SBP) said Wednesday it received about $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). “The amount would be reflected in SBP’s foreign exchange reserves for the week ending on May 15, 2026,” the SBP said. Last week, the IMF Executive Board approved Pakistan’s third
Challenge Fashion, a Chinese apparel manufacturer, plans to significantly expand its operations in Pakistan, with a long-term goal of generating annual exports of $400–500 million. The plans were discussed during a meeting between Federal Commerce Minister Jam Kamal Khan and a Chinese business delegation led by Huwang, Chairman of Challenges Fashion and Karen Chen, CEO of Challenge Apparel, to
Buying interest returned to the Pakistan Stock Exchange (PSX) despite global geopolitical tensions and economic concerns, with the benchmark KSE-100 Index gaining over 900 points during the opening hours of trading on Tuesday. At 9:50am, the benchmark index was hovering at 171,415.35, up by 909.04 points or 0.53%. Buying was observed in key sectors, including automobile assemblers, cement, c
The Institute of Chartered Accountants of Pakistan (ICAP) on Monday presented a range of proposals and recommendations relating to documentation, group taxation structures, export-oriented services, and harmonization of tax treatment across all sectors. During a meeting with the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division on Monday, discussions