Oil prices edged lower on Wednesday as a large, surprise build in US gasoline stocks and worries about the outlook for US interest rates next year outweighed easing supply concerns from a ceasefire deal between Israel and Hezbollah. Brent crude futures were down 42 cents, or 0.6 per cent, to $72.39 a barrel by 1:20pm ET (1820 GMT). US West Texas Intermediate crude slipped 51 cents, or 0.7pc, to
Donald Trump on Tuesday named Jamieson Greer his trade representative, a key figure in implementing the president-elect’s economic agenda, particularly his plans to use tariffs to raise revenue and help bring more manufacturing to US shores. Trump also picked Kevin Hassett as his top economic advisor, bringing the member of his first administration to head the White House National Economic Cou
The government on Wednesday announced that it had retired about Rs1.9 trillion debt while taking advantage of the unprecedented surge in revenues from petroleum development levy (PDL) and the State Bank of Pakistan’s (SBP) profits driven by the highest interest rate and projected further decline in inflation. In its Monthly Economic Update & Outlook (November 2024), the Ministry of Finance (MoF
In a turbulent session at the Pakistan Stock Exchange (PSX), the KSE-100 index registered its largest-ever single-day drop as it plummeted 3,506 points, or 3.57%, due to rising political instability concerns among investors. Analysts attributed the political instability to the ongoing protests being held by the Pakistan Tehreek-e-Insaf (PTI), compounded by weakening investor sentiment and forei
The Pakistan Stock Exchange (PSX) faced volatility on Tuesday, with the benchmark KSE-100 Index experiencing its largest single-day drop, plummeting by over 3,500 points. The sharp decline came amid growing concerns over the political situation in Islamabad, where the Pakistan Army was called in to prevent escalating protests. The market opened lower, with the KSE-100 Index hitting an intra-