The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Tuesday. At close, the local currency settled at 278.10, a gain of Re0.01 against the greenback. On Monday, the rupee closed at 278.11 against the dollar. Meanwhile, in the broader market, the dollar was on shaky ground as investors continued to pare back expectations of U.S. rate hikes this year foll
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said on Tuesday that the current account performance remains strong due to record remittance flows. “We do expect our overall remittances for this year to close anywhere between $41 and $42 billion.” Addressing the second edition of Pakistan Banking Summit 2026 at a local hotel here, he said that the last fiscal year was clo
Treet Corporation Ltd is expanding its footprint in Pakistan’s automotive industry after the Competition Commission of Pakistan (CCP) approved the company’s acquisition of additional shareholding in auto parts manufacturer Loads Ltd through a rights issue. Documents available with the Business Recorder show that the Commission has authorized Treet’s subscription of additional ordinary shares in
Gold eased on Wednesday to its lowest level in nearly a week, as US strikes on Iran boosted oil prices and the dollar, raising concerns that inflation could keep interest rates higher for longer and weigh on non-yielding bullion. Spot gold fell 0.1% to $4,100.32 per ounce by 0107 GMT, after dropping to its lowest since July 2 earlier in the day. US gold futures for August delivery shed 1.1
Oil prices climbed nearly 2% on Wednesday after the US military launched airstrikes against Iran and reimposed crude sales sanctions, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again. The US airstrikes were in response to Iranian attacks on three commercial vessels that were transiting the Strait of Hormuz, US Central Command said on Tuesday.