Oil prices rose on Monday on optimism that the US government shutdown could end soon and lift demand in the world’s top oil consumer, offsetting concerns about rising supplies globally. Brent crude futures rose 45 cents, or 0.71%, to $64.08 a barrel by 0426 GMT. US West Texas Intermediate crude was at $60.23 a barrel, up 48 cents, or 0.80%. An end to the historic US government shutdown, n
The Pakistan Stock Exchange (PSX) lost further ground on Wednesday as the benchmark KSE-100 index dropped over 1,700 points, mainly due to the absence of major triggers required to encourage investors to build their positions. A day ago, the market had shed 1,521 points, driven by profit-taking at higher valuations. Though the market started Wednesday's session on a positive note and remained i
The government mobilised Rs973.8 billion through the auction of Pakistan Investment Bonds (PIBs) on Wednesday, reflecting strong investor interest despite expectations of steady rates in the near term. According to results released by the State Bank of Pakistan (SBP), bids worth Rs1.44 trillion were received against various maturities, including two-year, three-year, five-year, 10-year and 15-y
Pakistan aims to enhance bilateral trade with Egypt to $2 billion from the current $232 million, as both countries explore stronger economic ties under the "Look Africa" policy. The target was outlined during Egyptian Ambassador Dr Ihab Abdelhamid's visit to the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday. According to a statement, LCCI President Faheemur Rehman Saigol said t
Pakistan has prepared a comprehensive market entry package for Malaysia to achieve the export target of $200 million. The action plan was submitted during a meeting of the Prime Minister's Committee on Meat Exports to Malaysia. Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan chaired the meeting. Four working groups, established earlier under the committee