Oil prices gained by about 1% on Wednesday as investors brushed off oversupply fears, having digested a decision earlier by OPEC+ to restrain production increases next month. Brent crude futures rose 63 cents, or 0.96%, to $66.08 a barrel by 0715 GMT. U.S. West Texas Intermediate crude climbed 66 cents, or 1.07%, to $62.39. The benchmarks settled broadly flat in the previous session as inves
The Board of Directors of Frontier Ceramics Limited, a Pakistani manufacturer of ceramic tiles, has decided against pursuing new expansion projects, noting that the ceramics sector has reached a point of saturation where additional investments are unlikely to generate adequate returns for shareholders. The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PS
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Wednesday announced plans to hold the Pakistan Maritime Investment Conference 2025, aimed at showcasing a wide range of investment opportunities in the maritime sector. Chairing a high-level meeting, Chaudhry said the upcoming conference will present both micro and macro investment opportunities to domestic and internationa
The Pakistani rupee continued to strengthen against the US dollar, appreciating 0.08% during the opening hours of trading in the inter-bank market on Wednesday. At 10am, the currency was hovering at 281, a gain of Re0.22 against the greenback. On Tuesday, the local unit closed at 281.22. Globally, the Indian rupee may inch towards a record low at the open on Wednesday, bogged down by the
Pakistan risks locking itself into a prolonged phase of economic stagnation, warned economist Asad Ali Shah, as the World Bank’s latest update projects growth at just 2.6% for FY25-26 — following a dismal four-year stretch of weak performance. Expressing his views on the social media platform X, Asad, the former president of the Institute of Chartered Accountants Pakistan (ICAP), said: “The Wor