20% of global oil, LNG supplies pass through the Strait before US, Israel launched strikes against Iran on February 28 NEW YORK: Oil prices jumped about 6% on Monday as Iran stepped up attacks on the United Arab Emirates and ships in the Middle East Gulf over the past 24 hours. Brent futures rose $6.79,…
Business leaders suggest policies must reflect ground realities to achieve tangible outcomes LAHORE: Every year, Pakistan’s budget exercise begins the same way, ie, ambitious targets are set, confident projections are made, and shortfalls arrive quietly, long after headlines have faded. This year, however, the shortfall has not waited for the budget to be announced. It…
KARACHI: Pakistan’s oil supply chain delivered a mixed but telling performance in April 2026, reflecting contrasting trends across upstream and downstream segments. While refinery operations strengthened on the back of improved product output and higher utilisation, retail fuel demand came under pressure due to elevated prices and shifting consumption patterns amid geopolitical uncertainty. This divergence…
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of shareholding in Rafhan Maize Products Company by a consortium comprising entities of the Nishat Group and associated individuals, following a phase-I review conducted under Section 11 of the Competition Act, 2010. The transaction involves the acquisition of shares of Rafhan Maize Products…
KARACHI: Trading at the Pakistan Stock Exchange (PSX) remained highly volatile on Tuesday, as investors reacted to fresh macroeconomic data and shifting intra-day sentiment. According to the Pakistan Bureau of Statistics (PBS), the country’s trade deficit widened by 3.82% year-on-year (YoY) in April 2026 to over $4.0 billion, which weighed on investor confidence early in…
Gold prices continued their downward trend on Tuesday in both international and local markets, with notable declines recorded in the rates of gold and silver. In the international bullion market, the price of gold per ounce fell by $21, bringing it down to $4,555. Following the global trend, prices in the local sarafa market also…
KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a strong footing, where the benchmark KSE-100 index surged in early trading. Investor sentiment was buoyed by expectations of a potential peace agreement between the US and Iran. Optimism around stable global oil prices further supported broad-based buying across the market. At 9:34 am, the…
KARACHI: The State Bank of Pakistan (SBP) on Monday injected more than Rs4.6 trillion into the banking system through conventional and Shariah-compliant open market operations (OMOs). The central bank conducted reverse repo purchase operations with tenors of two and four days, accepting a total of Rs4.388 trillion against offers of Rs4.865 trillion. The injection was…
LAHORE: Total cement despatches increased by 11.14% in April 2026, rising to 3.890 million tonnes from 3.500 million tonnes in the same month last year, according to data released by the All Pakistan Cement Manufacturers Association (APCMA) on Monday. Local despatches by the industry during April 2026 were 3.217 million tonnes, compared with 2.677 million…
KARACHI: Few remarks capture the ambiguity of central banking as sharply as former Fed Chair Alan Greenspan’s oft?quoted line: “I know you think you understand what you thought I said, but I’m not sure you realise that what you heard is not what I meant.” It is a fitting lens through which to view the…