CHICAGO, June 29 (ABC): Chicago Board of Trade (CBOT) agricultural futures fell across the board on Thursday, led by corn. The most active corn contract for December delivery plunged 38.25 cents, or 5.51 percent, to settle at 6.555 U.S. dollars per bushel. September wheat fell 39.5 cents, or 3.99 percent, to settle at 9.4925 dollars per bushel. November soybean lost …

HONG KONG, June 29(ABC): Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian markets tumbling Wednesday, tracking a sharp drop on Wall Street. The hefty selling came after more than a week of gains across the world caused by hopes that any signs of contraction could give central banks room to ease …

WEB DESK, June 29(ABC): Oil prices fell on Wednesday after rising in the previous three sessions but losses were limited to the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production. U.S. West Texas Intermediate (WTI) crude futures slid 44 cents, or 0.4%, to $111.32 a barrel …

WASHINGTON, June 29(ABC): US President Joe Biden’s administration added five companies in China to a trade blacklist on Tuesday for allegedly supporting Russia’s military and defense industrial base, flexing its muscle to enforce sanctions against Moscow over its invasion of Ukraine. The Commerce Department, which oversees the blacklist, said the targeted companies had supplied items to Russian “entities of concern” …

ISLAMABAD, June 28(ABC): The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Tuesday, losing 112.95 points, a negative change of 0.27 percent, closing at 41,765.62 points against 41,878.57 points on the last working day. A total of 257,163,743 shares were traded during the day compared to the trade of 247,901,404 shares the previous day, whereas the …

MUMBAI, June 28(ABC): The Indian rupee hit record lows against the US currency on Tuesday after higher oil prices raised concerns of sustained inflation, although intermittent dollar selling by the central bank helped limit losses. The partially convertible rupee was trading at 78.75/76 per dollar by 0745 GMT, compared to its close of 78.34 on Monday. The unit touched an …

KARACHI, June 28(ABC): Pakistan’s current account deficit — the gap between the country’s higher foreign expenditure and low income — widened to $1.4 billion in May 2022 in the wake of a decline in remittances and exports on account of the Eid ul Fitr holidays. According to the State Bank of Pakistan, the current account deficit of the country has …

ISLAMABAD, June 28(ABC): The Federal Board of Revenue (FBR) has collected Rs6 trillion in taxes since the start of the outgoing fiscal year 2021-22 to date, recording a growth of 29%. According to the provisional information, the FBR generated Rs6 trillion in taxes from July 1 to June 28 of the current financial year (2021-22), showing an increase of nearly …

KARACHI, June 28(ABC): The price of gold in Pakistan receded on Wednesday by Rs350 after an increase in its price a day earlier. According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of the yellow metal settled at Rs141,500 per tola in the local bullion market. Meanwhile, the price declined by Rs301 per 10 grams to settle …

WEB DESK, June 28(ABC): Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly while political unrest in Libya and Ecuador added to those supply concerns. U.S. West Texas Intermediate (WTI) crude futures rose $1.13, or 1 per cent, to $110.7 a …