Oil prices fell more than 2% in early Asian trade on Tuesday after US President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East. Brent futures for July delivery fell $3.01, or 2.7%, to $109.09 a barrel as of 0001 GMT, while US West Texas Intermediate crude for June delivery fell $1.38, or 1.3%, to $107.28. The two benchm
Selling pressure was observed at the Pakistan Stock Exchange (PSX) as tensions in the Middle East escalated, with the benchmark KSE-100 Index shedding nearly 1,600 points during the opening hours of trading on Monday. At 11:44am, the benchmark index was hovering at 164,025.57, down by 1,570.50 points or 0.95%. Selling was observed in key sectors, including automobile assemblers, cement, comm
Service Long March Tyres Limited’s (SLM) Initial Public Offering (IPO) book building was fully subscribed within the first 5 seconds of opening on Monday, marking one of the fastest-ever book building transactions in the history of the Pakistan Stock Exchange (PSX). The IPO is being offered at a price band of Rs14.25 to Rs19.95 per share, while the book building process is scheduled for May 18
Pakistan State Oil (PSO) announced a major reduction in jet fuel prices on Sunday, slashing rates by Rs 111.44 per litre. To shield consumers from a recent spike in ex-refinery costs for petrol, the government adjusted the Petroleum Levy (PL) on both petrol and HSD effective from Saturday. According to the PSO’s official website, the jet fuel price was brought down to Rs 330.22 per litre, sp
Gold prices fell on Monday to their lowest point in more than a month, as Middle East tensions pushed oil prices higher, fuelling inflation fears and reinforcing expectations of higher-for-longer interest rates. Fundamentals Spot gold was down 1.1% at $4,488.99 per ounce, as of 0052 GMT, hitting its lowest level since March 30. The Week in Breakingviews newsletter offers insights and id