Oil prices rose on Wednesday after an attack on a refinery in Saudi Arabia, the world’s biggest crude exporter, renewed concerns around the risks to supply in the Middle East stemming from the conflict with Iran and its proxies. Brent crude futures rose $1.48, or 1.3%, to $115.36 a barrel as of 0140 GMT. US West Texas Intermediate crude rose $1.22 or 1.22% to $101.12. Yemen’s Houthis
Buying was observed at the Pakistan Stock Exchange (PSX) following the State Bank of Pakistan (SBP) decision to raise the policy rate by 50bps, with the benchmark KSE-100 Index gaining over 950 points during the opening minutes of trading on Tuesday. At 10:05am, the benchmark index was hovering at 163,997.54, up 959.08 points or 0.59%. Buying was observed in key sectors, including cement, comme
The National Assembly was informed on Monday that the government granted tax exemptions, concessions, reduced rates and special treatments worth Rs2.35 trillion in 2024-25, while a comprehensive assessment of the costs and benefits of major tax incentives is targeted for completion by June 2027. In a written reply to a question by Shaista Pervaiz, Minister for Finance and Revenue Muhammad Auran
Brent crude futures finished lower on Monday amid hopes of easing hostilities in the Middle East, but persistent attacks on key producer Saudi Arabia and maritime shipping kept investors wary and prices hovering near six-month highs. Brent finished the day down 91 cents, or 0.8 percent, at USD115.81 a barrel while US West Texas Intermediate crude futures closed down USD1.51, or 1.46 percent, at US
The business and industrial community has strongly criticised and rejected increases in the State Bank of Pakistan’s (SBP) policy rate, warning that the high borrowing costs are undermining industrial growth, discouraging investment, and hampering economic activity. Business leaders argue that an elevated policy rate raises the cost of financing for industries and businesses, limits access to c