Oil prices extended gains on Monday, with Brent headed for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East. Brent crude futures jumped $3.09, or 2.74%, to $115.66 a barrel by 2353 GMT after settling 4.2% higher on Friday. US West Texas Intermediate was at $102.56 a barrel, up $2.92
Engro Holdings Limited, one of Pakistan’s largest conglomerates, has announced plans to buy back up to 45 million of its ordinary shares, representing approximately 3.73% of its total outstanding shares. The development was observed in a notice to the Pakistan Stock Exchange (PSX) on Monday. The company intends to purchase the shares through the PSX at the current market price, in line with
Selling pressure persisted at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index shedding nearly 1,000 points during the opening minutes of trading on Friday. At 10am, the benchmark index was hovering at 151,912.59, down by 995.37 points or 0.65%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploratio
Asian stock markets were swept up in a global rout on Friday, tracking Wall Street lower as the threat of a protracted energy shock out of the war-torn Middle East sent borrowing costs spiralling higher. Investors took a modicum of comfort from U.S. President Donald Trump’s decision to extend his ultimatum to strike Iranian power plants by 10 days, after pushing back his initial 48-hour deadl
The Indian rupee is set to weaken past 94 per dollar, pressured by risk aversion, rising U.S. Treasury yields and Brent crude holding past $100 a barrel on concerns the war in Iran will drag on. The 1-month non-deliverable forward indicated the rupee will open in the 94.20-94.25 range versus the US dollar, after settling near its lifetime low of 93.9775 on Wednesday. Indian financial mark