Russia, OPEC willing to increase oil output under US pressure

Raising production would ease 17 months of strict supply curbs amid concerns that a price rally has gone too far, with oil having hit its highest since late 2014 at $80.50 a barrel this month

KPMG UK undertaking internal review into its audit of Abraaj: Report

The proximity of ties between top executives at KPMG and Abraaj in Dubai will also come under the scanner

Rupee further plunges against the dollar, touches Rs119.05 in kerb market

On Tuesday, credit rating agency Moody’s projected the rupee could plunge by 7.75 percent and touch Rs125 to the dollar by June 2019.

Tax amnesty scheme’s success contingent on apex court decision

Till now, around Rs10 billion have been declared under the tax amnesty scheme announced early last month and Rs500 million has been collected as tax

Abraaj took out $200 million from buyout fund to finance its own business: Report

U.S private equity firm TPG is in negotiations with investors in Abraaj’s healthcare fund to overtake management of the assets of the $1 billion fund

IMF to incorporate Islamic finance to market surveillance in 2019

Islamic finance, which bans interest payments and pure monetary speculation, is estimated to have over $2 trillion of assets globally and is offered in over 60 countries, according to the IMF

Asian shares shaky but North Korea’s stance soothes nerves

MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while South Korea’s Kospi pared much of its earlier loss of 0.9 percent. Japan’s Nikkei was up 0.1 percent

Oil prices dip, as Russia hints it may gradually raise output

U.S. crude oil production has risen by more than a quarter in the last two years, to 10.73 million barrels per day (bpd)

Noor Financial sells 2.49 percent stake in Meezan Bank to foreign investors

Earlier this month Noor Financial Investment Company (Noor) had sought State Bank of Pakistan’s (SBP) approval for divestment of 9.59 percent of its 49.1 percent stake in Meezan Bank Limited

Auto sales may decline, after barring non-tax filers from purchasing cars

An industry source said data of the filers would now be utilized to purchase cars which would contribute to the practice of premium or ‘own-money’ amount rising

Dollar spikes to Rs118.7 in kerb market amid supply constraints

KARACHI: The State Bank of Pakistan’s stipulation for submission of identification proof before buying and selling of foreign currency more than $500 has caused...

Market Daily: KSE 100 Index closes up 27.43 points, settles at 42,772.25

LAHORE: What an anticlimax to such a brilliant run-up from the 22nd of May, as market momentum fizzled out in the wake of concerns...

Oil prices edge lower, OPEC may ease supply curbs

OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply

D.G Khan Cement announces completion of Pakistan’s largest cement plant

The cement produced in the trial run is being dispatched to customers. The announcement of commercial production will be made in due course of time, said D.G Khan Cement

Asian shares weak as Trump tempers Sino-U.S. trade optimism

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, while Japan’s Nikkei lost as much as 1.4 percent to hit a 1-1/2-week low and the Shanghai Composite Index retreated 0.6 percent

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Funds of GHPL being used by PLL, PLTL, sources

ISLAMABAD: Billion rupees worth of funds of the Government Holding Private Limited (GHPL) are allegedly being used by Pakistan LNG Ltd (PLL) and Pakistan LNG...

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