Oil prices gained further ground on Wednesday as supply concerns lingered after a winter storm disrupted US crude output and exports, while Middle East tensions lent additional support. Brent crude futures rose 28 cents, or 0.4%, to $67.85 a barrel by 0410 GMT, while US West Texas Intermediate crude climbed 35 cents, or 0.6%, to $62.74 a barrel. Both benchmarks surged about 3% on Tuesday. US
Gold broke through $5,200 for the first time on Wednesday, after rising more than 3% on Tuesday, as the dollar plunged to a near four-year low amid persisting geopolitical concerns, ahead of a US Federal Reserve monetary policy decision. Spot gold rose 0.6% to $5,219.97 per ounce, as of 0153 GMT, after scaling a record high of $5,224.95 earlier, up more than 20% since the start of the year.
China has approved its first batch of Nvidia’s H200 artificial intelligence chips for import, two people familiar with the matter told Reuters, marking a shift in position as China seeks to balance its AI needs against spurring domestic development. The approval covers several hundred thousand H200 chips and was granted during Nvidia Chief Executive Jensen Huang’s visit to China this week, the
Pakistan has offered to match global rice prices through a government-backed support mechanism and supply both basmati and non-basmati rice to Türkiye at internationally competitive rates. The development came during a high-level meeting between Federal Minister for Commerce Jam Kamal Khan and the Turkish Ambassador to Pakistan, Dr Irfan Neziroğlu, at the Ministry of Foreign Affairs (MoFA) to r
Packages Limited (PKGS), Pakistan’s largest paper and board producer, said on Wednesday that it had approved the redemption of 2,000,000 preference shares/convertible stock held by the International Finance Corporation (IFC), based in Washington D.C., as requested by IFC. The listed company disclosed development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. A redemption noti