Oil prices rose on Thursday as the International Energy Agency (IEA) joined producer group Opec in forecasting strong growth in global oil demand and as cold winter weather disrupted US crude output while the government reported a big weekly draw in crude inventories. Oil traders also worried about geopolitical risks in the Middle East. Brent crude futures gained 66 cents, or 0.9 per cent, to $
Tensions with Iran and Afghanistan could lead to uncertainty in the country and destabilise the exchange rate, as the demand for dollars will rise, said currency dealers in Karachi. A currency dealer mentioned that the grey market, which had disappeared after the crackdown, started showing activity on Thursday. “I am not sure about the grey market activity. If the situation leads to more unc
Balochistan exporters have urged the federal government to devise a comprehensive plan to resume trade at the Chaman border stations with Afghanistan, which has been suspended for more than three months. The closure of border customs stations has significantly impacted exporters in Balochistan and Karachi. They are unable to fulfil export orders from Central Asian States, particularly Turkmenis
Pakistan has so far produced 8.2 million bales of cotton as both Punjab and Sindh provinces have had almost equal output during 2023-24. The Pakistan Cotton Ginners Association (PCGA) on Thursday reported that the country produced 8.258m bales by Jan 15, which is 3.3m bales or 67 per cent more than the total yield of the previous crop year when the country could produce only 4.9m bales mainly d
Pakistan and Dubai on Thursday inked two agreements worth over $3 billion on cooperation in railways, economic zones and infrastructure projects. According to an official press release, the inter-governmental framework agreements were signed to strengthen relations in the marine and logistics sectors, including the establishment of a dedicated freight corridor and economic zone near Karachi.