Prominent economists called Thursday for governments to introduce windfall profit taxes on energy companies who are set to reap financial benefits from the US-Israeli war on Iran. The war has triggered a surge in prices of oil and gas which will boost the bottom lines of energy firms but is putting the pinch on consumers. “ICRICT is calling on governments to immediately impose a windfall profit
The US dollar was headed for a second consecutive weekly decline on Friday in tentative trade, as a ceasefire between Israel and Lebanon and prospects for fresh Iran talks prompted investors to unwind safe-haven positions. A 10-day ceasefire between Lebanon and Israel went into effect on Thursday and President Donald Trump said the next meeting between the US and Iran could take place over th
Gold held largely steady on Friday and was on track for a fourth straight weekly gain, as hopes for a US-Iran peace deal eased fears of higher inflation and elevated interest rates. Spot gold was unchanged at 4,789.67 per ounce, as of 0229 GMT, but up 0.9% for the week. U.S. gold futures for June were steady at $4,809.30. A 10-day ceasefire between Lebanon and Israel went into effect on
Oil prices fell in early trade on Friday on optimism the Middle East conflict could be nearing an end after a 10-day ceasefire between Lebanon and Israel took effect and President Donald Trump said the US and Iran may meet for talks on the weekend. Brent crude futures declined by $1.34, or 1.35%, to $98.05 a barrel at 0021 GMT. US West Texas Intermediate crude futures fell $1.65, or 1.74
Buying rally continued at the Pakistan Stock Exchange (PSX) with the benchmark KSE 100 index gaining over 2000 points during the opening minutes of trading on Thursday. At 9:44am, the benchmark index was hovering at 170,828.25 points, up by 2,318 points or 1.38 percent. Earlier today, the State Bank of Pakistan (SBP) said it had received funds of US$ 2 billion from Ministry of Finance, Kingd