The State Bank of Pakistan’s (SBP) foreign exchange reserves fell by more than USD 1 billion in the first week of FY27 due to heavy external debt repayments, after reaching a record high of USD18.4 billion at the end of the previous fiscal year. The SBP’s achievement of building foreign exchange reserves to USD 18.47 billion proved short-lived, as its reserves fell below the USD 18 billion mark
The federal government has further tightened conditions attached to the ongoing privatisation of Pakistan International Airlines Corporation Limited (PIACL), directing the Privatisation Commission (PC) to secure firm corporate guarantees and regulatory confirmations to safeguard the integrity of the transaction. According to official documents and informed sources, the Cabinet Committee on Priv
Oil prices inched higher on Friday after the US and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of Hormuz and with Tehran asking the Houthi movement to stand ready to shut the Red Sea export route. Brent crude futures rose $1.05, or about 1.25%, to $85.28 a barrel by 0118 GMT, and US West Texas Intermediate futures rose $1.03, or 1.3%,
Gold was on track for its biggest weekly loss in six on Friday, as escalating US-Iran clashes lifted oil prices, adding to inflationary pressures and strengthening the case for higher US interest rates. Spot gold was up 0.3% at $3,980.64 per ounce by 0455 GMT, having touched its lowest since July 1 earlier in the session. US gold futures for August delivery lost 0.2% at $3,984.10. The metal,
The Pakistan Stock Exchange (PSX) closed higher on Wednesday, with the benchmark KSE-100 Index extending its recovery from the previous session's steep losses as investors continued value buying. The benchmark KSE-100 Index concluded Wednesday's trading session at 175,285.78, up 1,766.97 points or 1.02%. The index remained positive throughout the day, touching an intraday high of 176,701.38