Oil prices hovered at two-week highs on Monday as investors expect a Federal Reserve interest rate cut this week that will lift economic growth and energy demand while eyeing geopolitical risks that threaten oil supplies from Russia and Venezuela. Brent crude futures rose 4 cents, or 0.06%, to $63.79 a barrel by 0008 GMT, while U.S. West Texas Intermediate crude was at $60.15 a barrel, up 7 cen
The Pakistani rupee strengthened against the US dollar, appreciating 0.07% during the opening minutes of trading in the inter-bank market on Monday. At 10am, the local currency was hovering at 280.23, a gain of Re0.19 against the greenback. During the previous week, the Pakistan rupee posted a marginal gain, appreciating by Re0.10 or 0.04% against the US dollar in the inter-bank market. T
Bullish momentum was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 1,100 points during the opening minutes of trading on Friday. At 9:30am, the benchmark index was hovering at 167,424.92, an increase of 1,141.37 points or 0.69%. Across-the-board buying interest was observed in key sectors, including automobile assemblers, cement, fertilizer, com
Saudi Arabia has extended the maturity of its $3 billion deposit placed with the State Bank of Pakistan (SBP) for another year, continuing a financial lifeline that has helped bolster the country's foreign exchange reserves amid ongoing liquidity challenges. The extension, made through the Saudi Fund for Development (SFD), maintains a facility that has been in place since 2021 and rolled over r
Japan’s investment in Pakistan has crossed USD 1.3 billion, the Japanese Ambassador Akamatsu Shuichi said on Tuesday, highlighting over seven decades of diplomatic and economic relations between the two nations. Speaking at the Annual Gala Dinner of the Pakistan-Japan Business Forum (PJBF) held at local hotel, the Ambassador said that ties between the two countries date back more than 70 years,