Gold fell 1% on Tuesday as thin trading persisted across major Asian markets due to the Lunar New Year holidays, while a firmer dollar also pressured prices. Spot gold dropped 0.9% to $4,947.98 per ounce by 0110 GMT, after losing 1% earlier in the session. US gold futures for April delivery lost 1.6% to $4,966.80 per ounce. The US dollar index rose 0.2% against a basket of currencies, mak
Oil prices were steady on Tuesday as investors assessed risks of supply disruption after Iran conducted naval drills near the Strait of Hormuz right ahead of nuclear talks with the U.S. later in the day. US President Donald Trump said on Monday that he would be involved “indirectly” in the talks in Geneva, adding he believs Tehran wants to make a deal. At the weekend, Trump said that regime
Selling pressure continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding nearly 2,000 points during the intra-day trading on Monday. At 1:50pm, the benchmark index was hovering at 176,574.00, a decrease of 3,029.73 points or 1.69%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companie
Asian shares were quietly consolidating recent hefty gains on Monday as holidays made for thin trading, and dismal economic data out of Japan took some of the heat out of that booming market. China, South Korea, Taiwan and the United States were among the centres off, leaving currencies, commodities and bonds all becalmed. The major data of the week are not out until Friday when surveys of g
United Bank Limited (UBL) has successfully executed a PKR 20 billion Interest Rate Swap (IRS) transaction with a subsidiary of Engro, one of Pakistan’s leading conglomerates. This landmark deal further strengthens UBL’s position at the forefront of Pakistan’s developing derivatives and risk management market, following its historic PKR 75 billion IRS transaction earlier this year — the largest suc