Oil prices rose in early trade on Wednesday after industry data showed a surprise drop in United States crude stockpiles, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude futures picked up 17 cents, or 0.1 per cent, to $94.82 a barrel at 0014 GMT, while US West Texas Intermediate (WTI) crude futures rose 26 cents, or 0.3pc, to $88.63 a barre
Entrepreneurs are getting increasingly pessimistic about the conditions of their businesses owing to the country’s political and economic situation, according to a Gallup Pakistan survey conducted in the ongoing quarter of 2022. The Gallup Business Confidence Index showed 65 per cent of business owners believe their businesses are facing bad conditions. Industrial machines businesses are doi
The Oil and Gas Regulatory Authority (Ogra) has increased the price of liquefied petroleum gas (LPG) by Rs2 per kg. The decision comes as an energy crisis looms with the onset of winter. According to a notification issued by Ogra on Tuesday, owing to Rs2,529 increase (per tonne), the domestic cylinder rate has been increased by Rs35 and that of commercial cylinder by Rs134. The new rates of LPG
The uncertain political situation kept investors away from active market participation on Monday. JS Global said the range-bound activity is likely to continue going forward. The main opposition party led by former premier Imran Khan is holding a long march to the capital to demand early general elections. “We recommend investors should wait for political clarity before availing this downsid
The Global Economy is transitioning to a new multipolar world order, the most significant shift in the global balance of power since the second world war. The Russia–Ukraine war has accelerated this transition that was already underway with the BRIC (Brazil, Russia, India, China) countries rising contribution to global production and trade, outstripping the growth in the US and EU economies in the