Oil prices rose nearly 2 per cent on Wednesday, recovering from a sharp slide early this week, as data showed relatively strong US demand, and as investors assessed the stability of a ceasefire between Iran and Israel. Brent crude futures were up $1.22, or 1.8pc, at $68.36 a barrel at 12:50pm EDT (1650 GMT), while US West Texas Intermediate crude (WTI) rose $1.25, or 1.9pc, to $65.62, both pari
The Trump administration’s tariff plans may well just cause a one-time jump in prices, but the risk it could cause more persistent inflation is large enough for the central bank to be careful in considering further rate cuts, Federal Reserve Chair Jerome Powell told a US Senate panel on Wednesday. Though economic theory may point to tariffs as a one-off shock to prices, “that is not a law of na
Retail payment volumes rose by 12 per cent year-on-year to 2,408 million transactions in the third quarter of FY25, while the overall transaction value increased by 8pc to Rs164 trillion, according to the State Bank of Pakistan. In its third Quarterly Payment System Review released on Wednesday, the SBP noted that digital channels accounted for 89pc of all retail transactions, reflecting the on
In a bid to boost mineral trade with China, the Balochistan Board of Investment and Trade (BBoIT) has initiated efforts to attract Chinese investment in local mineral processing and expand copper ore exports through enhanced cooperation. A virtual meeting held between the BBoIT, the Consul General of Pakistan in Shanghai, and the Trade Development Authority of Pakistan (TDAP) explored avenues t
Prime Minister Shehbaz Sharif on Wednesday reaffirmed the government’s commitment to revitalising the agriculture sector, urging relevant authorities to reduce tax burden on the sector. He also called for introducing sustainable reforms to boost the sector. Describing the agriculture sector as the backbone of the national economy, the prime minister emphasised that the introduction of sustainab