Pakistan Textile Council (PTC) Chairman Fawad Anwar has urged the government to adopt the textile and apparel industry’s budget recommendations for FY2026-27, warning that these proposals represent the minimum requirements necessary to preserve the viability of Pakistan’s largest export sector. Speaking on behalf of the country’s leading textile and apparel associations, Fawad Anwar said that t
The Consumer Price Index-based inflation surged to 11.7 percent year-on-year (YoY) in May 2026, the highest in 23 months, amid worsening Middle East tensions that have intensified energy-related pressures. According to the Monthly Review on Price Indices released here on Monday by the Pakistan Bureau of Statistics (PBS), this marks a steady escalation from the 10.9 percent reported in April 202
OPEC+ oil-producing countries will likely agree a further hike in their output target for July when they meet on Sunday, three sources said, though the Iran war has so far prevented several from delivering previous increases. Another quota increase would show the group is approaching business as usual despite the disruption caused by the Strait of Hormuz closure and the unexpected exit in May o
The U.S. dollar steadied on Tuesday as markets took a wait-and-see approach to Middle East peace talks, with Lebanon announcing a limited ceasefire between Hezbollah and Israel, although broader geopolitical uncertainties kept traders on edge. Investors have treated any progress toward ending the Iran conflict with caution, given the fragility of a U.S.–Iran ceasefire struck in early April.
Gold held steady on Tuesday as investors parsed a partial ceasefire between Hezbollah and Israel and awaited further details on the status of U.S.-Iran talks amid conflicting news. Spot gold was steady at $4,481.53 per ounce, as of 0217 GMT. U.S. gold futures for August delivery gained 0.1% to $4,511.20. “At the start of this week, there was a lot of expectation that maybe we’d get a 60-