Buying rally continued at the Pakistan Stock Exchange (PSX), amid optimism over government measures to address the crippling circular debt, with the benchmark KSE-100 Index gaining over 500 points during the opening minutes of trading on Thursday. At 10:05am, the benchmark index was hovering at 158,758.04, a gain of 521.37 points or 0.33%. Buying momentum was observed in key sectors includin
Asian shares took a breather from their recent rally on Thursday as investors positioned for month- and quarter-end flows, while the Japanese yen tested fresh lows against the euro and a surging Swiss franc. Oil prices slipped, after surging over 2% overnight to seven-week peaks as a surprise drop in US crude inventories added to supply worries amid export issues in Iraq, Venezuela and Russia.
Oil prices eased in Asian trade on Thursday, retreating from a seven-week high reached in the prior session as some investors took money off the table due to uncertainty around the supply-demand outlook. Brent futures slipped 26 cents, or 0.4%, to $69.05 a barrel by 0350 GMT, while US West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.4%, to $64.72 a barrel. Both benchmarks gain
Iran’s oil sales to China would continue even if UN sanctions, are reimposed under a so-called snapback mechanism, Iran’s Oil Minister Mohsen Paknejad said on Wednesday, as Iran and European powers struggle to reach a deal to avert the sanctions. The foreign ministers of France, Britain and Germany - the so-called E3 - along with the EU’s foreign policy chief Kaja Kallas - held talks with their
In a bid to boost affordable housing in the country, the government of Pakistan has introduced a new Markup Subsidy and Risk Sharing Scheme under the title “Mera Ghar-Mera Ashiana” for Affordable Housing Finance. The initiative is aimed at enabling first-time homeowners to purchase or build small housing units at subsidised rates through participating banks and financial institutions. Accord