Oil prices rose more than one per cent on Wednesday after the European Union agreed an additional round of sanctions threatening Russian oil flows, while a larger-than-expected build in US fuel stockpiles last week capped the gains. Meanwhile, producers’ group Opec cut its forecasts for demand growth in 2024 and 2025 for the fifth straight month on Wednesday and by the largest amount yet. Br
Business confidence in Pakistan has improved to negative 5 per cent from 14pc, according to results of the 26th Wave of the Business Confidence Index (BCI) survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI). The survey reflects improvement in overall business confidence compared to the previous wave conducted in March–April 2024. Overseas investors were optim
Conceding almost a record five per cent interest rate on $7bn loan from the International Monetary Fund (IMF), the government said on Wednesday the external financing gap had been met for the current year, leaving no urgency to access international financial markets until Pakistan’s credit rating improved. Testifying before the Senate Standing Committee, Finance Minister Muhammad Aurangzeb said
Pakistan Stock Exchange (PSX) on Tuesday endured a volatile trading session as the KSE-100 index lost nearly 1,100 points in a bearish activity driven by global equity sell-offs, rising geopolitical tensions in the Middle East and disappointing domestic remittances data. Analysts also attributed the market downturn to concerns over a potential shortfall in the government's tax collection, weak
Oil prices rose on Tuesday as markets looked to rising demand in China, the world's largest buyer, and possible tight supply in Europe this coming winter and away from the overthrow of Syria's president. Brent crude futures were up 51 cents, or 0.71%, to $72.64 a barrel at 1643 GMT. US WTI was up 59 cents, or 0.86%, at $68.97. Both benchmarks had risen more than 1% on Monday. Support came fr