Pakistan Textile Council (PTC) has sought urgent policy intervention to support the country’s textile sector, which is facing mounting challenges amid the ongoing conflict in the Middle East. In a letter addressed to Prime Minister Shehbaz Sharif, PTC Chairman Fawad Anwar outlined key issues confronting the sector and proposed remedial measures to navigate the current difficult environment.
Gold prices climbed to a near three-week high on Wednesday as markets reassessed near-term risks after US President Donald Trump agreed to suspend bombing and attacks on Iran for two weeks, easing fears of energy-driven inflation. Spot gold was up 2.3% at $4,812.49 per ounce, as of 0215 GMT. Earlier in the session, bullion rose more than 3% to its highest level since March 19. US gold fut
The dollar sank to its lowest level in a month while the euro, yen, Aussie and kiwi rallied hard in Asian trading on Wednesday after US President Donald Trump said he had agreed to a two-week ceasefire with Iran. The yen strengthened 0.7% against the greenback to 158.50 per dollar. The euro was up 0.7% at $1.1677, while the British pound appreciated 0.8% to $1.3403. The Australian dolla
Oil fell below $100 per barrel on Wednesday after US President Donald Trump said he had agreed to a two-week ceasefire with Iran that was subject to the immediate and safe reopening of the Strait of Hormuz. Brent fell $14.84, or 13.6%, to $94.43 a barrel and WTI slid $16.13, or 14.3%, to $96.82 a barrel as of 0023 GMT. Trump’s turnaround came shortly before his deadline for Iran to open t
Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 1,700 points during the opening minutes of trading on Tuesday. At 9:40am, the benchmark index was hovering at 149,481.28, down by 1,726.53 points or 1.14%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exp