The Pakistani rupee gained further ground against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Thursday. At 10:15am, the local currency was hovering at 280.92, up by Re0.2 against the US dollar. On Wednesday, the local unit closed at 281.12. Internationally, the US dollar slipped on Thursday as the Sino-US trade war sapped investor sent
Finance Minister Muhammad Aurangzeb, in a meeting with Benjamin Black, CEO of the US International Development Finance Corporation (DFC), highlighted Pakistan’s vast investment potential across the oil and gas, minerals, agriculture, IT, and pharmaceutical sectors, while welcoming the DFC’s interest in facilitating private sector-led financing for development projects. Aurangzeb, who is on an o
A day after heavy selling, bulls returned to the Pakistan Stock Exchange (PSX) as investor sentiment improved amid signs of easing geopolitical tensions and reduced political noise. The benchmark KSE-100 Index gained nearly 5,800 points during intra-day trading on Tuesday. At 2:30pm, the KSE-100 Index was hovering at 164,227.39, an increase of 5,783.97 points or 3.65%. Across-the-board buyin
European stocks dipped on Tuesday on renewed worries about a U.S.-China trade war and as Michelin’s shares slid to a more than two-year low after the French tyre maker cut its annual forecast. The pan-European STOXX 600 index was down 0.6% as of 0718 GMT, hitting a near two-week low following a short-livedbounce on Monday. Global stocks sold off sharply on Friday after U.S. President Donald
Pakistan Oilfields Limited (POL) announced on Tuesday that the Razgir-1 well was brought onstream on October 12 at the Tolanj Production Facility after securing approvals from the regulatory authorities. The company shared the development in a notice to the Pakistan Stock Exchange (PSX). “Production from the well is being gradually ramped up and is expected to reach the flow rate of 25.1 mil