A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Photo: Reuters Oil prices rose on Friday and were set for weekly gains because of renewed fears of supply disruptions from the key Middle East producing region after renewed fighting between the US and Iran this week curtailed shipping…
Calls overseas Pakistanis valuable asset, says remittances reflected confidence in govt’s policies Prime Minister Shehbaz Sharif on Thursday praised overseas Pakistanis for sending $41.6 billion in remittances during the 2025–26 fiscal year. In a statement, the prime minister said the 8.6% increase in remittances reflected overseas Pakistanis’ confidence in the government’s policies. Calling overseas Pakistanis…
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday addressed a gathering of Pakistani-American business leaders in Chicago, comprising 20 entrepreneurs, technologists and financiers, of which more than a third were former Fortune 500 executives, and invited them to bring their capital, networks and expertise to Pakistan. The minister stressed that…
ISLAMABAD: Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan has emphasised that small and medium-scale enterprises (SMEs) constitute the backbone of Pakistan’s economy and remain central to the strategy for sustainable economic development. He said the government was undertaking comprehensive measures to empower SMEs, improve ease of doing business and…
ISLAMABAD: The International Monetary Fund (IMF) on Wednesday kept Pakistan’s economic growth forecast unchanged at 3.5% for the new fiscal year, while warning about the possibility of a renewed Middle East conflict that could heighten price volatility. In an update to its World Economic Outlook (WEO) report, the IMF showed Pakistan’s economic growth rate at…
Atif Bajwa called on banks to reflect honestly on shortcomings and invest more aggressively in technology and human capital. “Technology is fundamentally changing the way banking is done… Yet, as an industry, we are still not investing enough in technology.”. photo:file KARACHI: The State Bank of Pakistan (SBP) has set an ambitious target to raise…
Index touches an intra-day high of 182,276.81, low of 179,411.35, indicating volatility in session KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish trend during midday trading on Thursday, with the benchmark KSE-100 Index declining by over 900 points amid profit-taking and cautious investor sentiment. The KSE-100 Index stood at 180,701.35 points, reflecting a loss…
KARACHI: Gold prices in Pakistan declined on Wednesday, mirroring losses in the international market where the precious metal came under pressure after oil prices surged and inflation concerns intensified following comments from US President Donald Trump on the US-Iran conflict. In the local market, the price of gold per tola dropped Rs4,700 to settle at…
ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Wednesday assured the downstream petroleum industry that it would share a revised framework and implementation timeline for the settlement of long-pending price differential claims (PDCs), following a meeting with chief executives of oil marketing companies (OMCs). The meeting, chaired by Ogra’s new leadership, brought together chief…
NEW YORK: Oil prices rose more than 2% on Tuesday after reports of attacks on vessels near the Strait of Hormuz revived fears of disruptions to shipping through the critical energy transit route. Brent crude futures gained $1.86, or 2.58%, to $73.85 a barrel, while US WTI crude rose $1.73, also 2.52%, to $70.28 a…