Oil prices climbed about 4% on Tuesday on signs of higher demand in Europe and China, rising tensions in the Middle East and as buyers emerged the day after prices collapsed to a four-year low on a decision by OPEC+ to boost output. Brent futures rose $2.37, or 3.9%, to $62.60 a barrel at 11:12 am (1512 GMT). US West Texas Intermediate (WTI) crude gained $2.42, or 4.2%, to $59.55. OPEC+ decided
The Senate Panel on Tuesday has urged the Commerce Ministry to address confusion surrounding Pakistan's barter trade policy with Iran, Afghanistan, and Russia, warning that unclear frameworks risk undermining trade potential. The Senate Standing Committee on Commerce Chaired by Senator Anusha Rehman took up the barter trade issues with Iran. The high-level committee meeting focused on mechan
The government may double the excise duty rate on fertiliser to 10% and introduce at least 5% new tax on pesticides in the budget, the two critical inputs for the crops that may get expensive amid heightening challenges for the agriculture sector. Among the other proposals, it is considering starting limiting the tax-free status currently available to the Special Economic Zones from fiscal year
The Pakistan Stock Exchange (PSX) on Tuesday showed a strong upward movement in early trading following another cut in the interest rate. However, towards the end of the session, widespread selling pressure pushed the KSE 100 index into the red, extending overnight losses. Investors’ sentiments remained bearish due to ongoing border tensions. Ahsan Mehanti from Arif Habib Corporation stated tha
The Ministry of Commerce was directed on Tuesday to fast-track amendments to boost barter trade with Iran, Afghanistan and Russia. At its meeting, the Senate Standing Committee on Commerce, chaired by Senator Anusha Rehman, directed the ministry to expedite the necessary summaries for barter trade and the Import Policy Order (IPO). The meeting also discussed the mechanism to achieve the expo