Qaiser Sheikh terms 30-year extension without bidding illegal; cabinet referred matter back ISLAMABAD: Investment Minister Qaiser Sheikh has termed a 30-year lease extension for the Engro VoPak Terminal a violation of public procurement rules and said it would damage the promotion of petrochemical industries, in a move that could result in a review of the…
US pizza chains face weak demand as inflation, high costs and GLP-1 drugs push healthier eating A view of a Pizza Hut store, in London, Britain, December 30, 2024.File PHOTO: REUTERS Yum Brands said on Tuesday it would sell its Pizza Hut chain for $2.7 billion, as the unit struggles with stiff competition in the fast-food…
LAHORE: Pakistan is losing hundreds of millions of dollars in export revenue every month, not because of foreign tariff wars or global trade conflicts, but because of the uncertainty generated by its own policymaking machinery, according to a new study released by economists Azam Chaudhry and Gul Andaman of the Lahore School of Economics (LSE)….
Leading business and industry associations on Monday expressed disappointment over the State Bank of Pakistan's (SBP) decision to maintain the policy rate at 11.5%, arguing that the move would continue to burden businesses with high borrowing costs and slow the pace of economic recovery. The criticism came shortly after the SBP's Monetary Policy Committee (MPC)…
Highest number in nearly two decades; Finmin calls US-Iran deal significant for global economy ISLAMABAD: Service Long March Tyres Limited (SLM) was listed at the Pakistan Stock Exchange (PSX) on Monday, marking the 11th initial public offering (IPO) of the current fiscal year – the highest number in nearly two decades. Federal Minister for Finance…
ISLAMABAD: Chinese investors have reaffirmed their long-term commitment to Pakistan’s capital markets following the resolution of key regulatory matters by the Securities and Exchange Commission of Pakistan (SECP), paving the way for increased investment and deeper cooperation between the two countries, according to an official statement issued on Monday. A delegation of the Chinese consortium,…
KARACHI: Gold prices in Pakistan recorded a sharp increase on Monday, tracking gains in the international bullion market, with the price of the precious metal rising by Rs10,800 per tola to reach Rs455,136. According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of 10-gram gold surged by Rs9,720 to settle…
Positive cues trigger rally as investors welcome budget reforms, easing US-Iran tensions KARACHI: Pakistan Stock Exchange (PSX) on Monday delivered a stellar performance as investors embraced the government’s reform-oriented budget measures and responded positively to reports of a preliminary peace agreement between the United States and Iran. The benchmark KSE-100 index opened on a strong…
Brent crude futures fell $4.11, or 4.71%, to $83.22 a barrel by 1730 GMT, US WTI was at $80.54, down $4.34, or 5.11% Reuters June 16, 2026 Less than a minute read Oil falls $4 to three-month low HOUSTON: Oil prices slumped around $4 a barrel to a three-month low on Monday amid a broad…
Finance secretary says ‘government is in discussions with the IMF; thus, it cannot disclose these numbers’ ISLAMABAD: The government on Monday refused to share the cost of tax relief with the National Assembly (NA) standing finance committee, which will approve the new budget, but the committee chairperson said that the cost was around Rs360 billion….