Oil prices rose in early trade on Wednesday after industry data showed United States crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil. Brent crude futures gained 25 cents, or 0.3 per cent, to $88.61 a barrel at 0101 GMT, while US West Texas Intermediate (WTI) crude futures rose 35 cent
Nomura has warned that seven countries — Egypt, Romania, Sri Lanka, Turkiye, Czech Republic, Pakistan and Hungary —are now at a high risk of currency crises. The Japanese bank said that 22 of the 32 countries covered by its in-house “Damocles” warning system have seen their risk rise since its last update since May, with the largest increases in the Czech Republic and Brazil. It meant the su
The benchmark of Pakistani shares stayed range-bound on Monday as investors looked for clarity on the appointment of a new army chief, upcoming repayment of $1 billion Eurobond and a review of the International Monetary Fund loan programme. Topline Securities said equities closed slightly up with major positive contributions coming in from technology shares. Trading opened in the positive te
After another chaotic week of mass staff departures and policy reversals, Twitter’s future seems highly uncertain, with users — and everybody else — increasingly asking one question: What would a world without the so-called bird app even look like? With about 237 million daily visitors at the last count in late June, Twitter’s user base is still smaller than Facebook’s nearly two billion, TikTo
How is the Water and Power Development Authority (WAPDA) structured? MUZAMMIL HUSSAIN: When WAPDA was established in 1958, the Tennessee Valley Authority’s (TVA) model was used as the base for its business structure. The TVA model’s legal and constitutional position allows WAPDA to be an independent authority in terms of financial power. The Authority comprises three members – Water, Finance and