Oil prices extended gains on Tuesday as a smaller-than-expected November output hike by OPEC+ helped to ease some fears of a growing supply glut. Brent crude futures advanced 23 cents, or 0.35%, to $65.70 a barrel by 0356 GMT. US West Texas Intermediate crude climbed 21 cents, or 0.34%, to $61.90. Both contracts settled more than 1% higher in the previous session after the Organization of
Bitcoin hit a new record high on Monday as the world’s largest cryptocurrency by market value continued to benefit from strong investor demand. The rally since the start of the year has been fueled by institutional investors, friendlier policies under U.S. President Donald Trump, and a bitcoin’s increasing connection with global financial systems. Bitcoin rose as high as $125,835.92 after cl
The Pakistani rupee saw a slight gain against the US dollar, appreciating 0.08% during Tuesday’s opening hours of trading in the inter-bank market. At 10am, the currency was hovering at 281.03, a gain of Re0.22 against the greenback. On Monday, the local unit closed at 281.25. Internationally, the Japanese yen weakened to a two-month low against the US dollar on Tuesday as attention in Ja
Hub Power Company Limited (HUBCO), Pakistan’s largest independent power producer (IPP), is exploring multiple options for its 1,100-acre base plant at Hub, including the establishment of an aluminium smelter and a Single Point Mooring (SPM) facility. Topline Securities, which attended the management meeting of HUBCO, shared the development in its report on Tuesday. During the meeting, HUBCO
Further policy rate cuts by the State Bank of Pakistan (SBP) will be determined by the economic fallout from recent floods and the outcome of the ongoing International Monetary Fund (IMF) review, said Governor SBP Jameel Ahmad in an interview with Bloomberg. The development came as the central bank maintains a cautious stance on monetary policy amid renewed inflation risks. As per the report