The International Energy Agency trimmed its forecast of next year’s global oil supply glut for the first time since May on Thursday, flagging higher demand prospects due to a stronger world economy and lower supply from nations under sanctions. Oil prices have been under pressure for months due to predictions from the IEA, which advises industrialised countries, and other analysts of a looming
The Directorate General of Customs Valuation, Karachi, has fixed new values of meat and bone meal imported from Brazil/Paraguay/ Argentina for assessment of duties and taxes. According to the valuation ruling number 2031 of 2025 issued on Thursday, the Customs values of meat and bone meal were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No. 192412024 dated 03.12.
Oil prices rose on Friday supported by concerns of Venezuelan supply disruptions, though they remained on track for a weekly drop amid cautious market sentiment and optimism over the prospects for a Russia-Ukraine peace deal. Brent crude futures rose 43 cents, or 0.70%, to $61.71 a barrel by 0352 GMT, and U.S. West Texas Intermediate crude was at $58.03 a barrel, up 43 cents, or 0.75%. The
The Pakistani rupee strengthened against the US dollar, appreciating 0.08% during the opening minutes of trading in the inter-bank market on Friday. At 10am, the local currency was hovering at 280.15, a gain of Re0.22 against the greenback. On Thursday, the local unit closed at 280.37. Internationally, the US dollar headed for its third straight weekly drop on Friday, hurt by the prospect of
Pakistan’s central bank is expected to retain interest rates at 11% on Monday, a Reuters poll showed, as analysts push back rate-cut forecasts to late 2026 after the IMF warned inflation risks persist and policy must stay “appropriately tight”. All 12 analysts surveyed expect no cut in the policy meeting on Monday. A majority of them see inflation hovering at 6%–8% in the coming months before r