The Pakistani rupee registered gains against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Friday. At 10am, the local currency was hovering at 280.27, a gain of Re0.18 against the greenback. On Thursday, the local unit closed at 280.45. Internationally, the US dollar languished not far from a five-week low against its major peers on Fr
WTI oil prices were heading for weekly gains of close to 2% in early trading on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow. It would be a second straight week of increases. Prices were little changed at market open on Friday, with Brent crude up 6 cents, or 0.09%, at $63.32 per barrel by 0104 GMT.
The Saudi National Bank (SNB), the majority shareholder of Samba Bank Limited, has received an offer from Najd Gateway Holding Company to acquire SNB’s entire shareholding in Samba Bank Pakistan, representing approximately 84.51% of the bank’s issued shares. Samba disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “The Saudi National Bank (SNB), as the majo
In yet another volatile session, the Pakistan Stock Exchange (PSX) on Wednesday experienced a broad-based decline as investors remained cautious, which pulled the benchmark KSE-100 index down by nearly 1,500 points. In the morning, the market opened on a positive note, which briefly lifted the index, but early gains evaporated when investors trimmed their positions in the absence of positive tr
Positive sentiments returned to the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 index gaining nearly 300 points during the opening minutes of trading on Thursday. At 9:45am, the benchmark index was hovering at 166,416.18, an increase of 270.84 points or 0.16 percent. Across-the-board buying was observed in key sectors, including commercial banks, cement, fertilizer, oil and gas