Oil prices surged close to $100 per barrel on Tuesday as major crude producer Russia sent troops into two breakaway regions of Ukraine. But after heavy falls at the open, European stocks bounded into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine and Western nations held off on imposing draconian sanctions. Brent North Sea crude oil reached $99
Pakistan Stock Exchange witnessed a dreary session on Monday, as the benchmark KSE-100 index lingered in negative territory for most of the day and finally closed lower by 313 points. Taking cue from the bearish global equities due to prevailing tensions between Russia and Ukraine, Pakistan’s bourse remained under pressure and market players opted to stay on the sidelines. Even fresh appreci
The Sensitive Price Indicator (SPI) for the week ended February 17, 2022 registered an increase of 0.22% for the combined income group, going up from 169.23 points during the week ended February 10, 2022 to 169.61 points in the week under review. The SPI for the combined income group rose 18.09% compared to the corresponding week of previous year. The SPI for the lowest income group decreased 0.16
The rupee strengthened against the US dollar at Rs175.75 in the inter-bank market on Monday compared with Friday’s close of Rs175.86, according to the State Bank of Pakistan (SBP). On December 29, 2021 the rupee hit an all-time low of Rs178.24 against the greenback as demand for the dollar stood higher compared to its supply in the wake of an expanding current account deficit, swelling imports, ri
Large steel producers of the nation have said that smuggled steel from Afghanistan and Iran was destroying the domestic industry. In a letter written to the Federal Board of Revenue Member Customs Operations Syed Muhammad Tariq Huda, Pakistan Association of Large Steel Producers (PALSP) General Secretary Syed Wajid Bukhari stated that contraband steel was denting the earnings of local steel pro