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Deal averting Brexit gives modest boost to euro, pound

The euro pushed higher against the dollar Friday as European leaders reached a deal that will keep Britain in the European Union, avoiding a much-feared “Brexit.” Early in the day the dollar was ahead, after US consumer price data for January signaled a pickup in inflation

Oil drops on skepticism of potential producer deal

Oil prices fell Friday as the market took a more skeptical view of producer talks to limit output that had lifted prices earlier in the week. US benchmark West Texas Intermediate for March delivery fell $1.13 to $29.64 a barrel on the New York Mercantile Exchange. Brent North Sea oil

France’s Lagarde named for second term to lead IMF

France s Christine Lagarde, who battled financial fires across Europe as managing director of the International Monetary Fund, was officially named Friday to a second five-year term. “In taking this decision, the board praised Ms Lagarde s strong and wise leadership during her f

Textile sector’s debts deepen in first six months of FY2015-16

Debts of the textile sector have increased by 43 percent in July to December period of the Fiscal Year (FY) 2015-16, Dunya News reported Friday. According to the State Bank of Pakistan (SBP), textile sector collectively is under debt worth around Rs 82 billion with 43 percent increase

Euro slips on ECB hints at more stimulus

The euro continued its week-long slide against the dollar Thursday after minutes from the European Central bank s January meeting showed policymakers discussing possible “preemptive” stimulus. The minutes made clear that fresh easing action was possible at the ECB s next m

US stockpiles, Saudi comments stifle oil rally

A surge in US crude and product stockpiles and Saudi Arabia s rejection of output cuts curtailed a rally in oil prices on Thursday. After surging over 4 percent to almost $32 a barrel, US benchmark West Texas Intermediate for delivery in March finished with just an 11 cent gain at $30

Asia stocks fall as rally fizzles out

The rally in Asia stocks fizzled out Friday, as a renewed weakening in the price of oil dampened sentiment and safe haven assets such as the yen received a boost. US crude fell below $31 a barrel as traders digested news that American stockpiles rose to the highest in more than eight

Asian energy firms dip after oil deal, eyes on Iran-Iraq talks

Energy firms retreated in Asia Wednesday after an oil output freeze by Saudi Arabia and Russia disappointed investors, but crude prices rebounded ahead of a meeting between producer giants Iran and Iraq. The commodity had enjoyed a surge from Friday to early Tuesday as Moscow and Riya

Oil prices recover ahead of Iran-Iraq talks

– Crude prices recovered in Asia Wednesday ahead of a meeting between the Iranian and Iraqi oil ministers and following a Saudi Arabia-Russia agreement to freeze output. At around 0330 GMT, US benchmark West Texas Intermediate for March delivery was 18 cents, or 0.62 percent, hi

Shanghai, Hong Kong stocks down by break

Hong Kong and Shanghai stocks ended the morning session in negative territory Wednesday as traders take their cash off the table following recent rallies. The benchmark Shanghai Composite Index slipped 0.24 percent, or 6.89 points, to 2,829.68 and the Shenzhen Composite Index, which t