US President-elect Donald Trump’s return to the White House is compelling countries across the whole spectrum of the United States’ major trading partners — China and Europe included — to recalibrate their economic policy. His pledge to impose additional tariffs exceeding 60 per cent on Chinese goods and up to 20pc on imports from Europe and the rest of the world to protect American manufacturers
Pakistan Stock Exchange (PSX) endured yet another day of massive selling on Thursday as it nosedived nearly 4,800 points – the largest single-day drop in the bourse's history. A highly volatile trading session left investors puzzled, which came after a recent prolonged record-breaking spree. The biggest single-day slump followed Wednesday's record fall of 3,790 points, when investors resorted t
The foreign exchange reserves, held by the State Bank of Pakistan, rose $31 million to $12.08 billion in the week ended December 13, 2024, according to data released by the central bank on Thursday. With the fresh increase, Pakistan's total liquid foreign currency reserves reached $16.63 billion, reflecting the country's improving financial position that provided around three months of import c
Oil prices rose slightly on Thursday, supported by falling US crude inventories, though gains were limited after the US Federal Reserve signalled it would slow the pace of interest rate cuts in 2025, a move that could dampen economic growth, reduce fuel demand and strengthen the dollar. Brent crude futures rose 44 cents, or 0.60% to $73.83 a barrel by 1414 GMT. US West Texas Intermediate (WTI)
The cabinet has given the go-ahead for signing revised agreements with eight bagasse-based independent power producers (IPPs), owned by the ruling elite and political barons. According to the revised agreements, the IPPs will reduce their working capital component of tariff by 50% with effect from October 31, 2024. These agreements are estimated to lead to savings of Rs238 billion when opera