Oil prices climbed about two per cent to a four-month high on Monday on lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the US. Brent futures rose $1.45, or 1.7pc, to $86.79 a barrel by 1:50pm EDT (1750 GMT), while US West Texas Intermediate (WTI) crude rose $1.54, or 1.9pc, to $82.58. That pushed both benchmarks into technically o
ISLAMABAD: Commerce Minister Jam Kamal on Monday met separately with sugar millers and ethanol manufacturers with the former seeking unrestricted molasses exports and the latter requesting that it be converted into a value addition before being shipped out of the country. The meetings held at the commerce ministry aimed at fostering dialogue and finding feasible solutions to the challenges face
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to NBFCs involved in digital lending to ensure best practices in advertisements and call centre management. The guidelines were designed to prioritise borrower protection and to prevent deceptive marketing and unethical call centre practices. Non-banking financial companies (NBFCs), licensed by the SEC
ISLAMABAD: Continuing with perpetual electricity price shocks suppressing demand, the Central Power Purchasing Agency (CPPA) has sought about Rs5 per unit increase in fuel cost adjustment (FCA) in upcoming bills on account of electricity consumed in February to generate another Rs35 billion for ex-Wapda Distribution Companies (Discos). The additional FCA demanded by the CPPA, 113pc higher than
With an apparent understanding reached during the final review of the $3 billion Standby Arrangement, the visiting staff mission of the International Monetary Fund (IMF) and Pakistani authorities agreed on Monday to extend talks overnight to conclude the Memorandum of Economic and Financial Policies (MEFP). The finance ministry had earlier announced the schedule of review talks ending on M