Daewoo Pakistan Express Bus Services Limited, one of the country’s leading inter-city transport service providers, has successfully raised Rs4 billion through the issuance of its third short-term Sukuk, with the Shariah-compliant offering drawing subscriptions worth 2.24 times the amount on offer. “We are proud to announce Pak Oman’s continued role in supporting Daewoo Pakistan Express Bus Serv
Wafi Energy Pakistan Limited has expanded its fuel storage infrastructure with the inauguration of a 7.4 million-litre motor gasoline storage tank at its Tarru Jabba terminal in Nowshera, Khyber Pakhtunkhwa, the company said on Wednesday. According to a statement, the new storage facility is aimed at strengthening the company’s fuel storage capacity and improving the reliability of fuel supplie
Gold prices firmed on Friday and were en route to their biggest weekly gain since January, helped by weaker oil prices, while investors awaited key US nonfarm payrolls data for clues on the interest rate outlook. Spot gold was up 0.4% at $4,254.11 per ounce, as of 0156 GMT after hitting a seven-week high in the previous session. Prices were up over 5% for the week. US gold futures gained
Oil continued its rise on Friday amid further concerns around the opening of the Strait of Hormuz as Iran, working with Oman, suggested banning vessels deemed hostile from the strait and heavily fining those who violated the proposed rules. Brent crude futures rose 99 cents, or 1.2%, to $83.48 a barrel by 0010 GMT. US West Texas Intermediate futures rose 85 cents, or 1.1%, to $78.84. Oi
The Pakistan Stock Exchange (PSX) staged a strong rebound on Wednesday, with the benchmark KSE-100 Index gaining nearly 2,932 points as broad-based buying returned across heavyweight sectors, led by commercial banks, fertilizer, cement, investment companies, and oil & gas exploration stocks. Investor sentiment improved as oil prices remained largely stable following sharp declines over the prev