Asian shares took a breather from their recent rally on Thursday as investors positioned for month- and quarter-end flows, while the Japanese yen tested fresh lows against the euro and a surging Swiss franc. Oil prices slipped, after surging over 2% overnight to seven-week peaks as a surprise drop in US crude inventories added to supply worries amid export issues in Iraq, Venezuela and Russia.
Oil prices eased in Asian trade on Thursday, retreating from a seven-week high reached in the prior session as some investors took money off the table due to uncertainty around the supply-demand outlook. Brent futures slipped 26 cents, or 0.4%, to $69.05 a barrel by 0350 GMT, while US West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.4%, to $64.72 a barrel. Both benchmarks gain
Iran’s oil sales to China would continue even if UN sanctions, are reimposed under a so-called snapback mechanism, Iran’s Oil Minister Mohsen Paknejad said on Wednesday, as Iran and European powers struggle to reach a deal to avert the sanctions. The foreign ministers of France, Britain and Germany - the so-called E3 - along with the EU’s foreign policy chief Kaja Kallas - held talks with their
In a bid to boost affordable housing in the country, the government of Pakistan has introduced a new Markup Subsidy and Risk Sharing Scheme under the title “Mera Ghar-Mera Ashiana” for Affordable Housing Finance. The initiative is aimed at enabling first-time homeowners to purchase or build small housing units at subsidised rates through participating banks and financial institutions. Accord
Din Textile Mills Limited (DINT) announced on Thursday that its Board of Directors had approved the expansion of its value-added home textile stitching unit. The company shared this in a notice to the Pakistan Stock Exchange (PSX) today. “The expansion will double the unit’s production capacity by increasing the number of stitching machines,” the listed company informed the bourse. It add