Gold surged to a record high above $5,000 an ounce on Monday, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical uncertainties. Spot gold rose 1.79% to $5,071.96 per ounce by 0159 GMT, after touching $5,085.50 earlier. US gold futures for February delivery gained 1.79% to $5,068.70 per ounce. The…
KARACHI: National Savings has announced major shake-up in profit rates for its savings products, effective January 23, 2026. Central Directorate of National Savings (CDNS) dropped bombshell as profit rates on famous savings schemes took a sharp dive. From Defence Savings Certificates to Special Savings and Islamic accounts, returns that many had relied on for steady…
Venezuela wants to boost oil production by at least 18 percent this year through reforms that will fully open the sector to private investors, the head of the state oil giant PDVSA said Saturday. The country’s interim president, Delcy Rodriguez, proposed the legislative reforms last week and it passed a first reading Thursday in parliament,…
ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said maritime sector posted a record Rs100 billion ($360 million) profit in 2025 after a year of sweeping reforms that improved port efficiency, cut costs and cleared long-delayed policies aimed at positioning the country as a regional trade and logistics hub. Junaid Anwar Chaudhry, outlining…
Silver prices rose above $100 an ounce for the first time ever on Friday, while gold hit another record en route to $5,000/oz as investors pile into safe-haven assets amid geopolitical turmoil and on expectations for U.S. interest rate cuts. Spot silver jumped 4.5% to $100.49 an ounce by 1649 GMT. “Silver should continue to…
NEW YORK/LONDON: Oil prices rose on Friday after U.S. President Donald Trump ratcheted up pressure against Iran through fresh sanctions on vessels that transport its oil, and announced that an armada was heading towards the Middle Eastern nation. Trump’s statements renewed warnings to Tehran against killing protesters or restarting its nuclear program. The escalating pressure…
Davos: International Monetary Fund (IMF) Managing Director Kristalina Georgieva has praised the economic reforms undertaken by the Pakistani government under the leadership of Prime Minister Shehbaz Sharif. Speaking to the media at the World Economic Forum in Davos, Switzerland, Georgieva said she has the “utmost respect” for Prime Minister Shehbaz Sharif. “The Prime Minister is…
LAHORE: Chief Minister (CM) Punjab Maryam Nawaz Sharif has approved the launch of interest free loans for house expansion under the Apni Chhat Apna Ghar project, extending the facility to families living in joint households. Under the decision, residents of joint family homes will also be eligible to obtain interest free loans for expanding their…
KARACHI: The Saudi Riyal (SAR) strengthened to Rs74.97 against the Pakistani Rupee (PKR) in today’s open market, a notable rebound from Rs74.65 yesterday and still below the mid-2025 peak of Rs76.03 seen in July, currency dealers confirmed. The selling rate adjusted to Rs75.54. This gentle recovery, driven by renewed buying interest and steady remittance inflows,…
UAE Dirham to Pakistani Rupee exchange rate strengthened to Rs 76.54 on Thursday, 23 January 2026, climbing 22 paisas from last month’s close of Rs 76.32, according to live interbank and open-market feeds. The fresh uptick pushes the AED/PKR pair toward the upper end of its established 76.30–76.80 trading band, offering improved returns for remittance…