Federal Minister for Finance and Revenue Muhammad Aurangzeb has termed the blue economy as a ‘game changer’ for Pakistan’s future growth, underscoring its potential to reach $100 billion by 2047 and reaffirming the government’s commitment to policy continuity. He made this statement while delivering a virtual address on Tuesday at the inaugural session of the Pakistan International Maritime Exp
China and Hong Kong stocks closed down on Tuesday, as investors took profits on this year’s outperformers, rotating into defensive sectors during a lull in corporate earnings and policy signals.
Oil prices slipped on Tuesday as investors read OPEC+’s decision to pause output hikes in the first quarter as a signal of oversupply in the market. Brent crude futures fell 37 cents, or 0.6%, to $64.52 a barrel by 0700 GMT. US West Texas Intermediate crude was down 37 cents, or 0.6%, at $60.68 a barrel. On Sunday, the Organization of the Petroleum Exporting Countries and their allies, kn
Gold traded below the $4,000-per-ounce mark again on Tuesday as the dollar remained resilient at over three-month highs, while reduced chances of another U.S. interest rate cut in December and easing U.S.-China trade tensions blunted bullion’s demand. Spot gold was down 0.8% at $3,970.39 per ounce, as of 0625 GMT. U.S. gold futures for December delivery slid nearly 1% to $3,979.30 per ounce.
Oilboy Energy Limited, formerly Drekkar Kingsway Limited, has decided to redirect the funds raised through its Rs250 million right issue towards expanding its trading and logistics operations, marking a shift from its earlier plan to invest in a bio-oil project. The listed company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. The company had raised Rs