SBP reserves climb $611m to $16.5b

Total deposits stand at $22.1b; gold jumps Rs9,100/tola as global rally gains pace on US employment report KARACHI: The central bank’s foreign exchange reserves recorded a healthy increase during the week ended June 24, 2026 as they rose $611 million to reach $16.53 billion. The increase was mainly driven by government inflows from multilateral institutions,…

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KSA assures Pakistan of financial support

Prime Minister Shehbaz Sharif addresses the nation on Friday. Photo: PMO ISLAMABAD: Saudi Arabia on Friday assured Pakistan of providing full financial support to deal with the issues stemming from the Middle East conflict, extending its helping hand at a time when Islamabad is making nearly $5 billion debt repayments and trying to keep external…

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Gold drops sharply on global selloff

KARACHI: Gold prices in Pakistan declined sharply on Friday, tracking a broad-based selloff in international markets, where bullion fell to a more than one-week low amid a stronger US dollar and rising Treasury yields. In the local market, the gold price per tola dropped to Rs476,862 after a steep decline of Rs15,500 during the day….

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Canada enters surprise technical recession

GDP declines 0.1% as trade uncertainty, tariffs and falling investment pressure economy OTTAWA: Canada’s economy posted a surprise contraction in the first quarter versus the year before, making it two straight quarters of annualised decline – which some economists call a technical recession – as the country struggles with US tariff uncertainty. Gross domestic product…

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Pakistan condemns Al Aqsa storming

ISLAMABAD: Pakistan on Tuesday strongly condemned the storming of the Al-Aqsa Mosque compound and the raising of Israel’s flag within its courtyard by illegal Israeli settlers, calling it a blatant violation of international law. Israeli occupiers had stormed the Al-Aqsa Mosque compound in occupied East Jerusalem on Tuesday, raising the Israeli flag during the incursion…

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The great gold squeeze

PUBLISHED April 12, 2026 KARACHI: Gold, in the subcontinent, has always been much more than just a metal you can buy and sell—it’s embedded in our social and emotional lives. It lives in velvet-lined boxes that smell faintly of stale attar and old wood, in musty bank lockers visited before weddings, in the quiet arithmetic…

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