Stock markets in the Gulf ended mixed on Monday as investors await a likely cut to US interest rates this week, with the Saudi index giving up early gains to conclude in negative territory. The US Federal Reserve is all but certain to cut rates on Wednesday, but the debate is over the size of the … Read more
LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Agriculture has recommended the government deregulate sugar and wheat markets, advocating for a free trade approach. This would allow price signals to reach stakeholders, encouraging investment, increasing competitiveness, and reducing distortions in local supply. FPCCI Chairman of the Agriculture Committee, Ahmad … Read more
A representational image of US dollar bills. — Reuters/File NEW YORK: The dollar slid against some major currencies on Tuesday, consolidating Monday’s gains ahead of key inflation data and a highly anticipated US presidential debate, even though neither outcome is likely to affect overall monetary policy. Safe-haven currencies such as the yen and Swiss franc … Read more
LONDON: Oil futures edged up on Monday as the risk of production disruptions from a potential hurricane approaching the US Gulf Coast helped prices steady after last week’s heavy losses. Brent crude was up 16 cents, or 0.23%, to $71.22 a barrel at 1315 GMT while West Texas Intermediate crude futures were 19 cents, or … Read more
Listen to article The price of gold has dropped in both global and local markets. The price of gold in the local markets has carried its downwards trend from the previous week. The price of 24-karat gold per tola has fallen by 1,100 rupees to 260,400 rupees. Similarly, the price of gold per 10 grams has decreased by … Read more
Global financial markets were jolted on September 3 as both major tech stocks and cryptocurrencies experienced severe downturns, erasing significant market value. The “Magnificent 7” tech giants—comprising Alphabet (Google’s parent company), Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—collectively shed a staggering $550 billion in market capitalisation, marking one of the most substantial single-day losses for … Read more
Listen to article Global markets took a sharp downturn on September 3 as both tech stocks and cryptocurrencies faced significant losses. The “Magnificent 7” tech companies, including Google’s parent company Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, collectively lost $550 billion in market capitalisation. This marks one of the largest daily losses for these tech giants … Read more
An updated image of gold jewellery displayed at a store. — AFP/File NEW YORK: Gold hit a record high on Friday as global stock markets gained on reassuring data about the health of the world’s biggest economy and likely US interest rate cuts. Expectations of US interest rate cuts weakened the dollar, while oil prices … Read more
Pakistan’s gaming industry is experiencing growth after a period of decline, with locally developed games witnessing a slight resurgence. However, these games remain largely unpopular within the country. Experts suggest that Pakistani developers are increasingly targeting the global market to achieve better financial returns. According to the State of Apps 2023 report by IT consultancy … Read more
KARACHI: Pakistan Stock Exchange (PSX), after coming under pressure initially, rebounded and closed with a modest rise of nearly 350 points in the outgoing week as investor interest grew in the face of robust corporate results and recovery in global equities. At the beginning, the market’s momentum was largely influenced by investor hesitation, caused by … Read more