Stocks rise sharply as inflation eases

[ KARACHI: Investors resorted to robust buying of attractive shares at the Pakistan Stock Exchange (PSX) on Monday as the benchmark KSE-100 index soared around 1,350 points and closed just a few points short of the 150,000 mark. The market exhibited a sustained momentum throughout the session, during which the index climbed to the intra-day … Read more

EU extends Rs350 million emergency aid for flood victims

The European Union (EU) has announced Rs350 million (€1.05 million) emergency assistance to support victims of devastating floods in Pakistan that have claimed hundreds of lives and left thousands displaced and many missing. “Our heartfelt condolences go out to the families of the victims and all those affected by this disaster,” the EU said in … Read more

EU sanctions on India’s Nayara trigger supply cuts by Aramco, SOMO

Saudi Aramco and Iraq’s state oil company SOMO have stopped selling crude oil to India’s Nayara Energy in the aftermath of sanctions imposed in July by the European Union on the Russian-backed refiner, three sources familiar with the matter said. The halting of supply from the two Gulf exporters means Nayara, majority-owned by Russian entities … Read more

Europe rebounds, Asia falters on tariffs

[ TOKYO/ BENGALURU: Euro zone factory activity expanded for the first time since mid-2022 as domestic demand offset the impact from US tariffs, while the Asian manufacturing sector saw shrinkage, private surveys showed on Monday. There were mixed signals over the Chinese economy, however, as one such survey unexpectedly indicated modest expansion, contradicting an official … Read more