Service Long March Tyres Limited’s (SLM) Initial Public Offering (IPO) book building was fully subscribed within the first 5 seconds of opening on Monday, marking one of the fastest-ever book building transactions in the history of the Pakistan Stock Exchange (PSX). The IPO is being offered at a price band of Rs14.25 to Rs19.95 per share, while the book building process is scheduled for May 18
Pakistan State Oil (PSO) announced a major reduction in jet fuel prices on Sunday, slashing rates by Rs 111.44 per litre. To shield consumers from a recent spike in ex-refinery costs for petrol, the government adjusted the Petroleum Levy (PL) on both petrol and HSD effective from Saturday. According to the PSO’s official website, the jet fuel price was brought down to Rs 330.22 per litre, sp
Gold prices fell on Monday to their lowest point in more than a month, as Middle East tensions pushed oil prices higher, fuelling inflation fears and reinforcing expectations of higher-for-longer interest rates. Fundamentals Spot gold was down 1.1% at $4,488.99 per ounce, as of 0052 GMT, hitting its lowest level since March 30. The Week in Breakingviews newsletter offers insights and id
Oil prices extended gains on Monday as efforts to end the US-Israeli war on Iran appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as US President Donald Trump is expected to discuss military options on Iran. Brent crude futures climbed $1.44, or 1.32%, to $110.70 a barrel by 2337 GMT after touching the highest since May 5 earlier in the
The US-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis. A review of corporate statements since the start of the conflict by companies listed in the United States, Europe and Asia offers a sobering look at the fallout. Businesses are grappling with soaring energy prices, fractured supply chains an