According to Forex.pk, the current value of 10 grams of 24-karat gold is SAR 4,139, while an ounce of gold is valued at 12,873 Saudi Riyals. The uptick in gold rates reflects ongoing trends in the global commodities market, with the latest pricing update reported at 10:00 a.m. local time. Gold has long held a […]
The official currency of Saudi Arabia, denoted as Saudi Riyal or SAR, is divided into 100 halalas. Managed by the Saudi Central Bank, it has been pegged to the US Dollar since 1986, ensuring stability. Evolving from bimetallic coins to modern currency since 1932, the Riyal reflects Saudi Arabia’s economic resilience. The shift underscores ongoing […]
The escalation came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump’s tariffs already straining ties. Yet there was no sign of panic among investors as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Oil did add 1% to last week’s 13% surge […]
The Monetary Policy Committee (MPC) session, chaired by the Governor SBP, will meet today to decide on the monetary policy, the central bank earlier informed in a statement. The MPC will review overall financial position, fiscal situation, major economic indicators, data of different sectors and major developments since announcement of the previous monetary policy. The […]
He issued these directives while chairing a high-level meeting on Saturday to review the policy framework for the promotion of the electric vehicles industry and usage in the country. During the meeting, the draft of the Electric Vehicles Policy 2025 was thoroughly discussed. The Prime Minister emphasized the need for swift and priority-based measures to […]
The loan adds to a $300 million commitment announced in April, bringing IFC’s total financing for the project to $700 million. The estimated cost of the mine is $6.6 billion, to be funded through a mix of debt and equity from a consortium of lenders. “The estimated total Project cost is $6.6bn, and it will […]
The escalation in hostilities in the Middle East – a major oil producing region – adds a fresh layer of uncertainty for financial markets at a time of heightened pressure on the global economy from U.S. President Donald Trump’s aggressive and erratic trade policies. Market reaction was swift. U.S. S&P E-mini futures slumped 1.7% and […]
Brent crude futures jumped $6.29, or 9.07%, to $75.65 a barrel by 0315 GMT after hitting an intraday high of $78.50, the highest since January 27. U.S. West Texas Intermediate crude was up $6.43, or 9.45%, at $74.47 a barrel after hitting a high of $77.62, the loftiest since January 21. Friday’s gains were the […]
In a notice to the Pakistan Stock Exchange (PSX), OGDCL announced the gas/condensate discovery from the exploratory well, Faakir-1, in Khairpur district. The well is operated by OGDCL, holding a 95% working interest, in joint venture with Government Holdings (Private) Limited (GHPL), which holds the remaining 5% interest. “Faakir-1 was spudded on December 31, 2024, […]
The mood was also shaded by geopolitical concerns after the US president said personnel were being moved from the Middle East as nuclear talks with Iran faltered and fears of a regional conflict grew. The equity losses snapped a recent rally fuelled by talks between Beijing and Washington in London that saw them hammer out […]
