Oil prices edged higher on Thursday as the market balanced weak demand with supply disruption amid a looming rail stoppage in the United States, the world’s biggest crude consumer. Brent crude futures was up by 2 cents to $94.12 a barrel by 0324 GMT, while US West Texas Intermediate crude rose 18 cents, or 0.2 per cent, to $88.66. “The oil price has been pricing in a global recession, but ev
Bulls lifted the benchmark index of the Pakistan Stock Exchange in the first half of the trading session on Tuesday. However, subsequent profit-taking shaved off the earlier gains even though the index still closed in the positive territory, said JS Global. A lack of triggers resulted in a dull-volume session, it added. According to Arif Habib Ltd, trading remained range-bound because invest
The International Monetary Fund (IMF) is looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday, sources familiar with the matter told Reuters. The plan, which has not previously been reported, will be presented at an informal board session. It would allow the IMF to help Ukraine and ot
India’s restrictions on rice exports have paralysed trading in Asia, with buyers scouring for alternative supplies from Vietnam, Thailand and Myanmar where sellers are holding off on deals as prices rise, industry officials said. India, the world’s biggest exporter of rice, banned shipments of broken rice and imposed a 20% duty on exports of various other types on Thursday as the country tries
The Pakistani rupee has continued to face battering on the seventh consecutive working day, shedding 0.715% (or Rs1.64) on a day-to-day basis to close at a five-week low of Rs229.82 against the dollar in interbank market on Monday. The currency had closed at Rs228.18 against the greenback on Friday, according to the central bank. Currency dealers at the open market continued to sell the dome