On Thursday, Prime Minister Shehbaz Sharif told officials to cancel the licences of petrol pumps that refuse to serve people registered under the Prime Minister’s Fuel Relief Programme. He gave the order at a meeting in Islamabad to review the subsidy scheme. The warning comes as petrol prices fall for the third time in a… Continue reading PM Shehbaz Orders Action Against Pumps Denying Fuel Subsidy
The Bank of England raised interest rates on Thursday, its first increase since August 2023. Its main rate rose by a quarter point, from 3.75% to 4%. The aim is to stop higher energy costs from the Iran war spreading through the wider UK economy. Governor Andrew Bailey said the move should not be seen… Continue reading Bank of England Raises Interest Rates to 4% as Iran War Lifts Inflation
The KSE-100 index jumped almost 4,000 points on Wednesday, November 4, in one of the strongest single-day gains in its recent history. Investors at the Pakistan Stock Exchange (PSX) bought heavily after the US midterm results raised hopes of calmer relations between Washington and Tehran. The benchmark closed at 172,013.48 points, up 3,994.62 points, or… Continue reading KSE-100 Index Surges Nearly 4,000 Points After US Midterms
Alphabet, Intel and Amazon shares fall as investors question huge AI spending and weaker cash flow. The numbers behind the tech sell-off, explained.
UK diesel prices have reached a record high as the ongoing conflict involving Iran continues to disrupt global energy markets. The average diesel price reached 199.18 pence per litre on Monday, according to the RAC. That figure surpassed the previous record of 199.09 pence set in June 2022. The latest increase means filling an average… Continue reading UK Diesel Prices Hit Record High Amid Iran War
Wall Street ended lower on Monday after President Donald Trump rejected an Iranian proposal aimed at easing the conflict. The decision pushed oil prices higher and renewed concerns about inflation. Higher energy costs also lifted U.S. Treasury yields. As a result, investors grew more cautious about the Federal Reserve’s interest-rate path. The Trump Iran peace… Continue reading Trump Iran Proposal Rejection Sends Wall Street Lower
Pakistan and Malaysia are working to strengthen cooperation in the halal agri-food sector, rice exports and food security. Senior Pakistani officials held a series of meetings in Kuala Lumpur with Malaysian authorities and industry representatives. The discussions focused on expanding agricultural trade and improving cooperation on halal certification standards. Pakistan Malaysia Halal Cooperation Focuses on… Continue reading Pakistan Malaysia Halal Agri-Food Cooperation Expands
US Treasury Secretary Scott Bessent says American efforts to isolate Iran economically are producing results, as Washington increases pressure on the country’s banks and airlines. Bessent said Saturday that he had sent US officials to countries around the world to push governments to take action against Iran. He said the campaign has focused on restricting… Continue reading US Pressure on Iran Grows as Treasury Targets Banks and Airlines
A US appeals court has ruled that Kalshi prediction markets can face state gambling regulation, dealing a setback to the company’s effort to keep its sports event contracts under federal oversight. The Sixth US Circuit Court of Appeals ruled Friday that Ohio and Tennessee can enforce their gambling laws against Kalshi’s sports-related event contracts. The… Continue reading Kalshi Prediction Markets: Court Allows State Regulation
Oil prices slipped on Friday as traders weighed the possibility of a ceasefire between the United States and Iran against fresh attacks on Saudi Arabia. The market remained cautious after a week of sharp price swings. Brent crude fell 87 cents, or 0.82%, to $105.73 a barrel at 0212 GMT. US West Texas Intermediate (WTI)… Continue reading Oil Prices Iran Truce Hopes Keep Markets on Edge
