Oil prices dipped in early trade on Friday, trimming part of the previous day’s surge but remaining on track for a weekly gain, as fresh U.S. sanctions on Russia’s two biggest oil companies over the war in Ukraine fuelled supply concerns. Brent crude futures fell 54 cents, or 0.8%, to $65.45 at 0200 GMT. U.S. West Texas Intermediate crude futures were down 51 cents, or 0.8%, at $61.28. Bo
The Pakistan Stock Exchange witnessed a notable shift in momentum as early gains faded amid aggressive profit-taking during the closing hours, dragging the benchmark KSE-100 index deep into the red by the end of trading. The session began on a bullish note on Wednesday, buoyed by encouraging corporate earnings and signs of macroeconomic stability. This initial optimism pushed the KSE-100 up by
In the international bullion market, the price of gold dropped sharply by $85 per ounce, settling at $4,150. In the local market, the price of gold per tola fell by Rs7,538, reaching Rs437,362, while the price per 10 grams decreased by Rs6,463 to Rs343,732. Read: Gold drops by Rs1,400 per tola in Pakistan, silver also slips Spot gold was up 0.6% at $4,146.47 per ounce, as of 0636 GMT. Bul
The oil crisis in the country may deepen as the industry faces possible collapse due to claims of Rs180 billion on account of the Sindh Infrastructure Development Cess (SIDC) imposed by the Sindh government on petroleum product imports. The Sindh government on Tuesday released one oil cargo of Pakistan State Oil (PSO) that had been stuck at port over the SIDC issue. Now, the provincial governme
Aqib Mehmood, an entrepreneur connected to the world by a government agency to enhance the nation's exports, has now made Indonesia his base for conducting business, aiming to overcome Pakistan's image problem, which was leading to exploitation by foreign buyers. Mehmood, a business partner at a small enterprise, Masairr, was a student of business studies nine years ago at the Institute of Busi