Oil prices rose on Thursday after data showed US crude stockpiles fell more than expected last week and a fresh attack by Houthi forces on ships off Yemen’s coast underscored the peril facing trade in a key global transit route. Brent crude futures were up $1.29, or 1.6 per cent, to $81.33 a barrel at 1521 GMT , while US West Texas Intermediate crude was up $1.37, or 1.8pc, to $76.46 a barrel.
Caretaker Prime Minister Anwaarul Haq Kakar on Thursday urged the Al-Jomaih Group of Saudi Arabia to invest in the alternative energy sector of Pakistan. Mr Kakar, in a meeting with a four-member delegation, led by the Al-Jomaih Group head Sheikh Abdulaziz Hammad, said Pakistan and Saudi Arabia had brotherly ties which were getting further stronger. Al-Jomaih earlier made a huge investm
After inflows from the International Monetary Fund (IMF), the foreign exchange reserves of the State Bank of Pakistan (SBP) increased enough to cover 1.6 months of imports, helping the exchange rate to remain stable. The SBP reported on Thursday that the reserves of the central bank went up by $243 million to $8.27 billion during the week ending on Jan 19. The IMF Board meeting held on Jan 1
Taking strict notice of the financial autonomy claimed by corporate and autonomous entities and executive departments of the federal government resulting in budgetary slippages, the Ministry of Finance has tightened fiscal controls ahead of a quarterly review with the International Monetary Fund (IMF). The ministry has barred all the federal ministries, divisions and their attached and sub-ordi
The bull took charge at the Pakistan Stock Exchange (PSX) on Wednesday as shares climbed over 300 points on positive investor sentiment. According to the PSX website, at 12:04pm, the benchmark KSE-100 index climbed 512.78 points, up by 0.8 per cent, to stand at 64,967.0 from the previous close of 64,454.22. The bourse retracted marginally and closed at 64,822.43, up by 368.21 points or 0.57p