Selling pressure gripped the Pakistan Stock Exchange (PSX) amid escalating geopolitical tensions in the region, driving the benchmark KSE-100 Index below the 153,000 level on Monday. At 9:22am, the benchmark index was hovering at 152,991.15 , down by 15,071.01 points or 8.97%. Following the nearly 9% drop, trading activity at PSX was halted and will reopen at 10.22am. “All TRE Certificate
The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of Al-Haj Automotive (Private) Limited by Bestway Automotive (Private) Limited, a wholly owned subsidiary of Bestway Cement Limited, following a Phase-I competition assessment conducted under the Competition Act, 2010. According to a statement released on Saturday, Bestway Automotive (Private) Limited filed a pre
The UAE has ordered its stock markets closed on Monday and Tuesday as the country reels from Iran’s retaliatory missile and drone strikes, in a sign of the growing economic disruption sweeping the Gulf. The UAE Capital Markets Authority said the Abu Dhabi Securities Exchange and Dubai Financial Market would remain shut on March 2 and March 3, citing its supervisory and regulatory role over the
Oil prices surged on Monday and shares slid as military conflict in the Middle East looked set to last weeks, sending investors flocking to the relative safety of the dollar and gold. Brent jumped 4.5% to $76.07 a barrel, though it had briefly topped $82.00 at one stage, while US crude climbed 3.9% to $69.59 per barrel. Gold rose 1.0% to $5,327 an ounce . Military strikes by the United State
Gold prices rose on Monday after the US and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty. Spot gold was up 1% at $5,329.39 an ounce, as of 0201 GMT, after hitting its highest point in more than four weeks. Earlier in the session, bullion prices climbed as much as 2%. US gold