Oil prices were up more than 1% on Friday after renewed fighting broke out between the US and Iran, threatening a shaky ceasefire and dashing hopes for progress on reopening the Strait of Hormuz, a key oil and gas transit route. Brent crude futures were up $1.41, or 1.41%, at $101.47 a barrel as of 0123 GMT. West Texas Intermediate (WTI) US crude futures rose by $1.12, or 1.18%, to $95.93 a b
Buying continued at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 700 points during the opening minutes of trading on Thursday. At 9:50am, the benchmark index was hovering at 172,974.55, up by 1,269.80 points or 0.74%. Buying was observed in key sectors, including automobile assemblers, commercial banks, oil exploration companies, OMCs, power generation,
Asian stocks soared to record highs on Thursday while the US dollar slipped and oil nursed steep losses as traders embraced the prospect of a peace deal in the Middle East, although the fate of the critical Strait of Hormuz remains unresolved. Japan’s Nikkei returned from a long holiday to cross 62,000 for the first time, catching up on a blistering AI-led rally after robust earnings that has
Federal Minister for Economic Affairs Ahad Cheema said that the government is closely coordinating with all provincial governments to effectively achieve the World Bank’s Country Partnership Framework (CPF) objectives. The minister made his remarks during a meeting with Bolormaa Amgaabazar, Country Director of the World Bank, read a statement on Wednesday. The discussion focused on the key o
Finance Minister Muhammad Aurangzeb said the country has sufficient internal resources to support investment and growth, stressing that local investors will play a central role in financing key sectors as capital markets are strengthened to unlock long-term funding. Addressing the Capital Market Development Fund (CMDF) Signing Ceremony organised by the SECP at the SECP Office in Islamabad, the