Gold rose 2% on Monday after US and Iran officials said they had reached a preliminary deal to end their conflict, pushing oil prices lower and easing concerns about inflation and higher interest rates. Spot gold was up 2% at $4,304.11 per ounce, as of 0122 GMT, hitting its highest level since June 9. U.S. gold futures for August delivery rose 2% to $4,325.20. US and Iranian officials sai
Oil prices slipped to their lowest since March on Monday after US President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz. Brent crude futures fell $3.58, or 4.10%, to $83.75 a barrel by 0004 GMT and US West Texas Intermediate was at $80.87, down $4.01, or 4.72%. Both contracts tumbled
Waves Home Appliances Limited (WAVESAPP) announced on Monday that it had restarted the assembly operations of its air conditioner (AC) product range. The company announced the development in a notice to the Pakistan Stock Exchange today. “Following the imposition of country-wide import restrictions in 2022, driven by macroeconomic pressures and monetary tightening measures, the company’s wor
Asian stocks joined a global rally on Friday on hopes a Middle East peace deal may finally materialise, while the dollar and bond yields dropped and oil prices fell to two-month lows, tempering inflation fears. All eyes are on the hotly-awaited market debut of Elon Musk’s SpaceX, which has made history with the biggest-ever initial public offering. The IPO raised a record $75 billion, valuing
Pakistan’s unemployment rate rose to 7.1% in 2024-25, up from 6.3% a year earlier, even as the country’s economy returned to growth, according to the Pakistan Economic Survey 2025-26 released by the Finance Ministry on Thursday. According to the latest Labour Force Survey 2024-25, released in the Economic Survey 2025-26, the working-age population increased from 159.8 million to 179.6 million,