Oil prices fell more $2 a barrel on Thursday as fears of a wider Middle East conflict eased at the same time that US demand showed signs of weakening. Brent crude futures were down $2.28, or 2.53 per cent, at $87.85 a barrel by 12:40pm CDT (1740 GMT), having settled nearly 2pc higher on Wednesday. US West Texas Intermediate crude futures slid by $2.10, or 2.41pc, to $83.29 a barrel. Fears of
After failing to get any buyer for the Pakistan Steel Mills (PSM), the government has decided to revive the country’s largest steel production unit through the Ministry of Industries and Production. The Senate Standing Committee on Industries and Production was informed on Thursday that three out of four Chinese companies vying for PSM withdrew their interests. MQM’s Khalida Ateeb, chairpers
The first quarter of the current fiscal year witnessed a marginal growth of three per cent in exports to nine regional countries, mainly driven by an increase in shipments to China, data compiled by the State Bank of Pakistan showed on Thursday. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives rose to $981.39 million in July-Septemb
The rupee’s rally triggered in early September by a government clampdown on smuggling and hoarding of foreign currency might prove to be short-lived due to its financing risks, Goldman Sachs Group Inc. has warned. “The recent appreciation of the Pakistani rupee will likely be short-lived, given soaring interest costs and only short-term arrangements with the International Monetary Fund and bila
The benchmark of the Pakistan Stock Exchange inched up on Wednesday on encouraging earnings announcements. Topline Securities Ltd said the bullish sentiment, which was influenced by the corporate results especially in the banking sector, played a significant role in creating positive vibes in the stock market. Investors exercised some caution in anticipation of the forthcoming announce