Pakistan plans to boost domestic storage for crude oil and refined products to increase its energy security, according to a government document that was shared with oil producers and some of the world's leading trading firms. Despite depending on supplies through the Strait of Hormuz for up to 90% of its oil and liquefied natural gas imports, Pakistan has no strategic petroleum reserves. T
Pakistan's upcoming federal budget for FY27 is shaping up to be less about headline?grabbing relief measures and more about reinforcing a commitment to economic stabilisation, despite mounting political, social and economic pressures. After three years of adjustments under the International Monetary Fund (IMF) programme, the government now faces the challenge of balancing fiscal discipline with de
Oil prices jumped more than 3% on Thursday after Iran's Revolutionary Guards said they targeted a US airbase in response to a U.S. attack near Bandar Abbas airport. Brent crude futures rose $3.51, or 3.72%, to $97.8 a barrel by 0344 GMT, while the more active August contract gained $3.35 or 3.63%, to $95.6. The July contract is set to expire on Friday. The US West Texas Intermediate futu
Soneri Bank, one of the leading commercial banks in Pakistan, was recognized at the Global Diversity, Equity and Inclusion (DEI) Benchmark Awards 2026, receiving recognition across 11 key categories. Representing Soneri Bank at the awards ceremony, Syed Naveed Ul Zafar, Head of Learning and Development, Human Resources, Dr Sanya Shahid, Head of Marketing, Communications and Brand Management and
Gold prices fell to a two-month low on Thursday as fresh US attacks on Iran boosted the dollar and pushed oil prices higher, stoking concerns about rising inflation and clouding the interest rate outlook. Spot gold was down 1.7% at $4,380.62 per ounce, as of 0409 GMT, earlier falling to its lowest level since March 26. US gold futures for June delivery fell 1.6% to $4,377.10. The dollar r