Oil prices fell on Friday, extending losses from the previous session after US President Donald Trump canceled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week. Brent futures fell $1.21 or 1.3% to $89.17 a barrel at 0042 GMT, while US West Texas Intermediate (WTI) crude was $1.23, or 1.4%, lower at $86.48. On a weekly
Selling pressure continued at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index shedding over 300 points during the opening minutes of trading on Thursday. At 9:39am, the benchmark index was hovering at 169,091.20, down by 336.24 points or 0.20%. Meanwhile, selling pressure was observed in key sectors including automobile, cement, and commercial banks. On Wednesday, the b
Asian stocks fell on Thursday, weighed down by a Wall Street selloff after a hotter-than-expected U.S. inflation reading, while renewed US strikes on Iran fuelled a rise in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9%, led by a 3% drop in South Korea’s KOSPI. S&P 500 e-mini futures were 0.3% lower. The United States began a fresh round of strikes aga
The Federal Board of Revenue (FBR) has decided to arrange a technical briefing on the federal budget including Finance Bill 2026, taxation measures, revenue implications and amendments in the federal tax laws on Friday. The technical briefing will be held at the FBR House after conclusion of the budget speech in the Parliament. This will allow journalists and stakeholders to receive detailed
National Electric Power Regulatory Authority (NEPRA) has closed show cause notice issued to Lalpir Power Company Limited (LPCL) over its alleged failure to timely restart operations following the nationwide power system collapse in January 2023. According to official details, the countrywide blackout occurred on January 23, 2023 at 07:34:43 hrs, plunging the entire nation into darkness. The sys