Gold rebounded on Friday, recovering from a nearly one-week low in the previous session, as investors awaited key US inflation figures for guidance on interest rate direction following robust jobs data that reduced expectations of rate cuts. Spot gold was up 1.3% at $4,982.59 per ounce, as of 0311 GMT, and has gained 0.4% so far this week. US gold futures for April delivery climbed 1.1% to $
Oil prices were little changed on Friday after falling in the previous session, and are set for their second weekly decline, on receding concerns of an Iranian conflict that could affect supply and on forecasts supply will exceed demand this year. Brent crude oil futures were up 3 cents, or 0.04%, at $67.55 a barrel at 0205 GMT after falling 2.7% in the previous session. US West Texas Interm
Habib Metropolitan Bank Limited has approved an increase in the capital of its 100% owned subsidiaries, HabibMetro Exchange Services Limited and Habib Metropolitan Financial Services Limited to ensure smooth operations. The HabibMetro Exchange Services’ capital is being raised from Rs1 billion to Rs1.5 billion, a notice to the Pakistan Stock Exchange (PSX) read. The decision was taken by the
The United Arab Emirates (UAE) has agreed to roll over $2 billion deposits for two months, reported The News. According to the report, the assurance came after Pakistan Deputy Prime Minister Ishaq Dar contacted the UAE’s top officials earlier this week. Citing top Pakistani officials, the report said the UAE has granted a rollover until April 17 at an interest rate of 6.5% Earlier, reports i
Selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding nearly 1,100 points during the opening hours of trading on Thursday. At 10:40am, the benchmark index was hovering at 181,965.55, down 1,084.25 points or 0.59%. Selling was observed in key sectors, including cement, commercial banks, oil and gas exploration companies and refineries. I