Global benchmark Brent crude settles at $102.77 a barrel, losing $10.73, or 9.5%. West Texas Intermediate (WTI) crude ends 8.2%, or $8.93, lower at $99.50 a barrel. Fears of potential lockdowns in China that could deepen cuts to oil consumption. Oil fates sank alongside gaseous petrol, fuel and values, which frequently act as request marker … Read more
The dollar held at a 20-year peak against the euro and multi-month highs against other major peers. Euro was only a fraction above its overnight low of $1.0262. Sterling was also trading down slightly at £1.1965 just off its 18-month intraday low hit overnight. The euro’s drop against the pound was much more muted, slipping … Read more
The FTSE All World index of developed and emerging market equities lost 0.3% on Friday afternoon in London. Europe’s regional Stoxx 600 fell 0.5% after data on eurozone consumer prices that exceeded estimates strengthened hopes that the European Central Bank would hike interest rates. US stocks, which set the tone for global trading, have not … Read more
KARACHI: The price of gold in Pakistan gained Rs1,500/tola to reach the all-time high of Rs134,300/tola on Thursday amid the continuous depreciation in the rupee against the dollar. The local currency remained under pressure as the SBP’s foreign exchange reserves largely depleted due to debt repayments and government payments. The political instability in the country, … Read more
