Oil prices fell slightly on Friday, but were on track for a second weekly rise as the stalemated US-Iran war continues to disrupt supply from the key Middle East producing region. Brent crude futures fell 23 cents, or 0.3%, to $93.55 a barrel by 0142 GMT, after climbing 2.4% in the previous session. US West Texas Intermediate crude futures slipped 33 cents, or 0.4%, to $86.50 a barrel, after
Buying interest returned at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining over 900 points during the opening minutes of trading on Thursday. At 9:50am, the benchmark index was hovering at 177,771.47, up by 925.11 points or 0.52%. Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs
Following a meeting with local refineries, the Petroleum Division has announced a major adjustment in High Speed Diesel (HSD) prices effective from August 20. The fuel saw a sharp drop of 8.1 percent, providing significant financial relief to transporters and farmers. With this revision, HSD prices fell by Rs32.63 per litre, bringing the new rate from Rs395.69 to Rs363.06 per litre. Conversely,
Hutchison Ports Pakistan, the country’s only state-of-the-art deep-water container terminal, has announced a major upgrade to its operations with a USD 76 million investment program spanning 2026 and 2027. The investment includes two electric remote-controlled Quay Cranes (QCs), 17 electric remote-controlled Rubber Tyre Gantry Cranes (RTGCs), 70 e-trucks, and 50 trailers. As part of efforts
Finance Minister Muhammad Aurangzeb on Wednesday confirmed that Pakistan has formally sought a USD 10 billion Exchange Stabilisation Support Facility from the United States, saying the initiative is aimed at strengthening foreign exchange stability and sending a positive signal to international capital markets rather than securing a conventional loan or credit line. Talking to Business Recorder