Oil prices climbed sharply on Wednesday after US President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela, raising fresh geopolitical tensions at a time of concerns over demand. Brent crude futures were up 53 cents, or 0.9% at $59.46 a barrel at 0105 GMT, while US West Texas Intermediate crude rose 55 cents, up 1%, to $55.82 a b
The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Wednesday. At 10am, the local currency was hovering at 280.13, a gain of Re0.17 against the greenback. On Tuesday, the local unit closed at 280.30. Globally, the US dollar was steady on Wednesday and near its lowest since the start of October after d
The Pakistan Stock Exchange (PSX) opened the week on Monday with renewed optimism and rose to a record high above 170k, reflecting the extension of bullish momentum from the previous week. Investors remained somewhat upbeat ahead of the monetary policy announcement later in the day, when the central bank unexpectedly cut its policy rate by 50 basis points. The rally was largely driven by buying
Bulls continued to make further inroads at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 800 points during the opening minutes of trading on Tuesday. At 9:35am, the benchmark index was hovering at 171,513.01, a gain of 771.67 points or 0.45%. Buying interest was observed across the board in key sectors, including automobile assembler, cement, fertiliser,
Federal Minister for Petroleum Ali Pervaiz Malik held a meeting in Kuwait with Tariq Sulaiman Al-Roumi, Minister of Oil of the State of Kuwait, to discuss matters of mutual interest and strengthen bilateral cooperation in the petroleum sector. According to an official statement on Monday, the meeting was also attended by Sheikh Nawaf Al-Sabah, Chief Executive Officer of Kuwait Petroleum Corpora