Governor State Bank of Pakistan (SBP), Jameel Ahmad, has emphasised the urgent need for Pakistan to transition from short-lived stabilisation efforts to a durable, sustainable, and outward-looking growth model. Speaking at the opening session of the Pakistan Business Council’s (PBC) ‘Dialogue on the Economy,’ on Wednesday, Ahmad highlighted that while Pakistan has repeatedly cycled through phas
Gold was broadly steady on Thursday after hitting a near two-week high in the previous session, as market participants weighed the possibility of a December U.S. interest rate cut amid conflicting signals from the Federal Reserve. Spot gold was down 0.2% at $4,154.09 per ounce, as of 0200 GMT. U.S. gold futures for December delivery fell 0.3% to $4,151.20 per ounce. “At this moment the Fed i
The Asian Development Bank (ADB) on Wednesday approved an additional USD48 million loan to Pakistan for the Balochistan Water Resources Development Sector Project, aiming to address critical water management challenges in the province. The funding will enable the completion of key project components, including the Churi Infiltration Gallery subproject, the development of the Siri Toi Dam comman
Oil prices fell on Thursday on expectations of a Ukraine‑Russia ceasefire which could pave the way for the unwinding of Western sanctions against Russian supply, though trading was set to remain thin due to the US Thanksgiving holiday. Brent crude futures shed 21 cents, or 0.3%, to $62.92 a barrel as of 0108 GMT, while U.S. West Texas Intermediate crude futures dropped 21 cents, or 0.4%, to $58
The Pakistani rupee strengthened further against the US dollar, appreciating 0.05% during the opening hours of trading in the inter-bank market on Thursday. At 10am, the local currency was hovering at 280.42, a gain of Re0.14 against the greenback. On Wednesday, the local unit closed at 280.56. Internationally, the US dollar was on the back foot on Thursday, with trade thinned ahead of the U