The long-pending merger of Telenor Pakistan and Ufone is finally entering its closing phase and is likely to be formally concluded in the first week of December. After a year of deliberations and procedural completion from competition and op efficiency perspective, it has been learnt that all major milestones have been cleared and the final approvals are now underway. According to the proces
Gold prices dropped for a third consecutive session on Monday, as the dollar firmed near six-month highs, while investors awaited more clarity on the US interest rate trajectory. Spot gold was down 0.4% at $4,045.58 per ounce, as of 0536 GMT. US gold futures for December delivery fell 0.9% to $4,042.50 per ounce. “The dollar index is up near six-month highs, it’s above 100 and if it continue
Oil prices took a breather on Monday after last week’s fall of about 3%, as investors weighed the chances for a US rate cut against the prospect of a Russia-Ukraine deal that could free up more Russian supply through an easing of sanctions. The United States and Ukraine were set to resume work on a revised plan for the peace deal ahead of a Thursday deadline set by US President Donald Trump, af
The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10am, the currency was hovering at 280.43, a gain of Re0.19 against the greenback. During the previous week, the Pakistan rupee posted marginal gain as it appreciated by Re0.10 or 0.04% against the US dollar in the inter-bank m
The Pakistan Stock Exchange (PSX) extended its bullish momentum on Thursday, when investors drove a broad-based rally across key sectors as they took cue from earnings announcement by an automaker and a $330 million energy loan from the Asian Development Bank (ADB). The benchmark KSE-100 index closed at 162,936.94, marking an increase of 710.66 points, or 0.44%. It traded between the intra-day