Wall Street stocks headed lower on Thursday and US benchmark Treasury yields scaled the highest level since April in light, post-Christmas trading. The modest but broad-based sell-off pulled all three major US stock indexes modestly lower despite the so-called Santa Claus rally, in which stocks often get a holiday season boost from low liquidity, tax loss harvesting and investment of year-end b
OGDCL has revived and enhanced the production of oil to 900 barrels per day (BPD) from 480 BPD from Pasakhi-5 Well, located in District Hyderabad, Sindh. This well is part of the Pasakhi Development and Production Lease (D&PL) in which OGDCL holds a 100pc working interest, the company said in a stock filing on Thursday.
India’s Bharat Petroleum Corp (BPCL) plans to invest $11 billion in southern Andhra Pradesh state for a new refinery and petrochemical project to meet rising fuel demand in the world’s fastest-growing major economy, its chairman said. “We feel there is a big opportunity in refining sector. India’s primary energy demand itself is also going to increase three to four times as its economy expands,
Turkiye’s central bank lowered its key interest rate on Thursday, the first cut in nearly two years as it battles with double-digit inflation. The bank’s monetary policy committee decided to reduce the policy rate from 50 per cent to 47.5pc, with a statement citing improvement in “inflation expectations and pricing behaviour”. The last cut was in February 2023.Thursday’s decision signals t
After witnessing a consistent increase for several weeks, the State Bank of Pakistan (SBP) foreign exchange reserves noted an outflow of $228 million to $11.85 billion during the week ended on Dec 20. On Thursday, the central bank announced that the reserves fell due to external debt payments. The country is required to repay $26.1bn during the current fiscal year. The government has partial