Oil prices climbed above $100 a barrel on Monday as the US Navy prepared to block ships to and fromIran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war. Brent crude futures rose $6.96, or 7.3%, to $102.16 a barrel by 0430 GMT after settling 0.75% lower on Friday. US West Texas Intermediate was up $8.1
Shield Corporation Limited (SCL), a Pakistani manufacturer of baby care and hygiene products, have proposed purchasing 209,598 ordinary shares—representing 5.37% of the company’s paid-up capital—for Rs750 per share. “We hereby convey the acceptance of the majority shareholders/sponsors under PSX Regulation No. 5.14.7 to purchase the ordinary shares of Shield Corporation Limited at a PSX propose
Federal Minister for Commerce Jam Kamal Khan has directed authorities to prepare a proposal to reduce the general sales tax (GST) on dairy products from 18% to 10%, in a move that could provide significant tax relief and support to Pakistan’s dairy sector. Jam Kamal chaired a meeting with a delegation of the Pakistan Dairy Association (PDA), led by CEO Dr Shehzad Amin. The meeting was also atte
Buying momentum was observed at the Pakistan Stock Exchange (PSX) with the benchmark KSE -100 Index gaining nearly 2,200 points during the opening minutes of trading on Friday. At 9:39am, the benchmark index was hovering at 167,688.60 points up by 2,171.09 points or 1.31%. Moreover, buying was observed in key sectors including chemical, food and personal care products and OMCs. On Thursda
International Monetary Fund chief Kristalina Georgieva on Thursday said the global lender expected near-term demand for IMF financial support to rise to between USD20 billion to USD50 billion as result of spillovers from the war in the Middle East. Georgieva said the now-paused war was testing the global economy, with a 13 percent cut in the daily flow of the world’s oil and a 20 percent cut in