Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets. US benchmark West Texas Intermediate plunged eight percent at the open in Asia but clawed back some ground and was trading 5.7 percent lower, at $26.72 مزید پڑھیں

Luckin Coffee, rival to Starbucks, apologised on Sunday after it revealed a top executive may have faked 2.2 billion yuan (US$310 million) worth of sales in 2019. The company’s former chief operating officer, Liu Jian, and several of his staff have been suspended pending an internal investigation, it said in a US Securities and Exchange مزید پڑھیں

The United States Dollar (USD) registered a decline against the Pakistani Rupee (PKR) on Thursday with a decrease of Rs0.23 in value in the interbank market. The greenback is currently being traded at Rs166.60 falling from the previous Rs166.80. The dollar held gains on Thursday as investors rushed to the safety of the world’s most مزید پڑھیں

All Karachi Tajir Ittehad chairman Atiq Mir has said that complete lockdown is causing huge losses to the traders. Expressing his views, while talking to private news channel he said, the traders are not against the government’s decision of lockdown, but they should be allowed to work two or three days atleast a week. ” We مزید پڑھیں

The price of oil has sunk to levels not seen since 2002 as demand for crude collapses amid the coronavirus pandemic. Brent crude fell to $22.58 (£18.19) a barrel at one point on Monday, its lowest level since November 2002. Meanwhile the price of US West Texas Intermediate (WTI) fell below $20 a barrel and مزید پڑھیں

Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh on Thursday chaired the meeting of Economic Coordination Committee (ECC) and approved an emergency fund to be established for tackling coronavirus outbreak. The ECC meeting also approved release of Rs 5 billion to the National Disaster Management Authority (NDMA) for provision of logistics and مزید پڑھیں

World Bank and International Monetary Fund (IMF) have urged its bilateral creditors to suspend debt payments from International Development Association countries to help them combat the COVID-19 pandemic. Pakistan being part of IDA countries, will also get a marginal benefit if the creditor countries agree to the joint proposal of IMF and the World Bank. مزید پڑھیں

The State Bank of Pakistan on Tuesday announced yet another cut in the interest rate, this time slashing it by 1.5% to 11%, saying there was “considerable uncertainty” over the impact of the coronavirus pandemic. In a press release, it said the move — almost a week after the policy rate was cut by 75 مزید پڑھیں

As part of preventive measures to contain the spread of novel coronavirus, the State Bank of Pakistan on Monday directed all the banks in the country to provide authenticated and disinfected currency notes to the people. In a series of tweets, the central bank said that it will ensure to clean, disinfect, seal and quarantine مزید پڑھیں

US ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products more affected by coronavirus fallout. Refining margins for gasoline and jet fuel have tanked because of decreased demand for مزید پڑھیں