Stocks and bonds rallied and the dollar wallowed at the start of the Asian trading session on Wednesday on hopes of a de-escalation in the Iran conflict, while significantly better-than-expected economic data for March propelled a rebound in Korean and Japanese shares. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 2.7%, snapping a four-day losing streak as South Korea’s Kos
OPEC oil output plunged in March to its lowest level since the height of the COVID-19 pandemic in June 2020, a Reuters survey found, as the US-Israeli war against Iran effectively closed the Strait of Hormuz and forced export cuts. Crude output by Organization of the Petroleum Exporting Countries members in March fell by 7.3 million barrels per day month-on-month to 21.57 million bpd, the surve
The Federal Board of Revenue (FBR) has allowed sales tax-registered persons to engage one or more licenced integrators, required for integration of its electronic invoicing hardware and software with the Board’s computerised system. The FBR has issued Sales Tax General Order #01 of 2026/ IR Operations here on Tuesday on the subject of “Issuance of Electronic Sales Tax Invoices and Integration o
Gold prices edged higher on Wednesday to their highest in nearly two weeks, supported by a weaker dollar as US President Donald Trump said the war with Iran could wind down within two to three weeks. Spot gold rose 0.4% to $4,685.79 per ounce by 0228 GMT, having hit its highest level since March 20 at $4,723.21 earlier in the day. US gold futures for April delivery gained 0.8% to $4,713.4
Oil rose more than 1% on Wednesday, with Brent futures extending gains after a record monthly rise in March, as Middle East volatility kept markets jittery despite reports that the US-Israeli war on Iran may be nearing an end. The front-month Brent contract for June climbed $1.40, or 1.4%, to $105.37 per barrel at0430 GMT. Brent logged a record monthly gain of 64% in March, according to LSEG