Oil prices sank by about one per cent a barrel on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels. Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1pc loss, by 1:17pm EDT (1717 GMT). US crude futures for May delivery fell 87 cents to $84.79 per barre
As a high-level Saudi trade delegation arrived on Monday, Privatisation Minister Abdul Aleem Khan has asked the business community and investors to take measures, especially in view of Pak-Saudi investment and export agreements. While presiding over an important meeting of the business community and investors at Sindh Governor House, he said an increase in exports was imperative for enhancing f
Bank Alfalah Ltd (BAFL) on Monday announced its intention to acquire a majority stake in Samba Bank Ltd. The BAFL shared this information through a notice to the Pakistan Stock Exchange (PSX). “We would like to inform that Arif Habib Ltd, manager to the offer, has submitted the public announcement of intention to acquire up to 84.51 per cent shares of the target company, held by Saudi Nation
Pak Suzuki Motor Company Ltd (PSMCL) has said that its corporate data has been leaked due to a cyberattack. In a stock filing on Monday, PSMCL said initial investigations suggest that the server’s data related to human resources, financials, etc., has been ported to a public IP. “We have onboarded a security consultant to conduct a detailed forensic assessment and eliminate potential securit
The 969-megawatt Neelum-Jhelum Hydropower Project (NJHP), completed at an estimated approved cost of more than Rs510 billion, has been partially closed once again within days of its full capacity utilisation after almost 20-month-long repair works. The project was closed in July 2022 due to major cracks in its 3.5km tailrace tunnel (TRT), which was repaired over the next 13 months. Power gener