Asian stocks got off to a rocky start on Friday as the drag from chipmakers weighed on global equity indexes, while oil prices were set for their sharpest weekly rise in three months as tensions in the Middle East erupted anew. Investors this week rotated out of semiconductor plays into other sectors such as banking after robust earnings from major lenders, leaving Asia vulnerable to the sell
The government is likely to increase electricity tariff by Rs1.20 per unit for June 2026 across the country under monthly Fuel Charges Adjustment (FCA) formula, official sources told Business Recorder. Central Power Purchasing Agency Guarantee Limited has submitted power generation data with the National Electric Power Regulatory Authority (Nepra). The main reason of higher FCA for June 2026
The State Bank of Pakistan’s (SBP) foreign exchange reserves fell by more than USD 1 billion in the first week of FY27 due to heavy external debt repayments, after reaching a record high of USD18.4 billion at the end of the previous fiscal year. The SBP’s achievement of building foreign exchange reserves to USD 18.47 billion proved short-lived, as its reserves fell below the USD 18 billion mark
The federal government has further tightened conditions attached to the ongoing privatisation of Pakistan International Airlines Corporation Limited (PIACL), directing the Privatisation Commission (PC) to secure firm corporate guarantees and regulatory confirmations to safeguard the integrity of the transaction. According to official documents and informed sources, the Cabinet Committee on Priv
Oil prices inched higher on Friday after the US and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of Hormuz and with Tehran asking the Houthi movement to stand ready to shut the Red Sea export route. Brent crude futures rose $1.05, or about 1.25%, to $85.28 a barrel by 0118 GMT, and US West Texas Intermediate futures rose $1.03, or 1.3%,