Industrial policy is back in vogue, and now the very institution that for 30 years has been telling us how bad it is has turned 180 degrees. The World Bank’s new flagship report, Industrial Policy for Development, admits that bank policy on industrial policy has not aged well, according to Chief Economist Indermit Gill, who said it now has the practical value of a floppy disk. It might seem lik
The Federal Government, via the Petroleum Division, has announced an increase in the prices of petrol and High-Speed Diesel (HSD) for July 23 following the latest daily price review of petroleum products. The petrol price is up by Rs 6.39 per litre, rising from Rs 320.73 to Rs 327.12 per litre, whereas, High-Speed Diesel (HSD) is up by Rs 7.83 per litre, rising from Rs 367.21 to Rs 375.04 per l
Gold traded below two-week highs on Thursday as an escalating Middle East conflict drove oil prices higher, while traders shifted focus to next week’s Federal Reserve meeting for clues on the timing of potential interest rate hikes. Spot gold was little changed at $4,133.39 per ounce as of 0115 GMT, having climbed to $4,165.87 in the last session, its highest since July 7. US gold futures
Oil prices rose more than 1.5% to their highest in more than six weeks on Thursday, with the United States launching a new round of strikes on Iran and Yemen’s Houthis targeting oil tankers in the Red Sea. Brent crude futures rose $1.93, or 2% to $96 by 0011 GMT, the highest since June 8. It had settled over $3 higher at $94.07 in the previous session, just shy of a six-week high. US West
The Pakistan Stock Exchange (PSX) ended Monday's session marginally higher, with the benchmark KSE-100 Index recovering from steep intraday losses as late-session buying in heavyweight banking and refinery stocks offset earlier selling pressure. Value buying in select blue-chip stocks helped the market erase losses and finish in positive territory. The benchmark KSE-100 Index concluded Monda