The Pakistan’s cement industry witnessed a sharp downturn in May 2026, with total cement despatches falling by 21.02 percent year-on-year to 3.837 million tonnes compared to 4.858 million tonnes dispatched during the corresponding month of the previous fiscal year, reflecting subdued construction activity and continued challenges facing the sector. Data released by the All Pakistan Cement Manuf
Treet Battery Limited, a Pakistani battery maker, has signed a memorandum of understanding (MoU) with China’s Contemporary Nebula Technology Energy Co., Ltd. (CNTE), a company backed by global battery giant Contemporary Amperex Technology Co., Limited (CATL), to explore opportunities in Pakistan’s energy storage sector, including the potential introduction of advanced battery storage systems and f
Gold prices slipped on Wednesday, as renewed hostilities in the Middle East pushed crude oil prices higher, cementing fears that interest rates would stay higher for longer to tame inflation. Fundamentals Spot gold fell 0.2% to $4,476.50 per ounce by 0103 GMT. U.S. gold futures for August delivery fell 0.3% to $4,504.40. Gulf hostilities flared anew on Wednesday, with the U.S. military
Oil prices climbed more than 1% in early trade on Wednesday as hostilities in the Middle East erupted anew with Iran firing missiles at Kuwait and Bahrain, while diplomatic talks between Iran and the United States showed little progress. Brent futures rose $1.05, or 1.09%, at $97.05 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.01, or 1.08%, to settle at $94.77. Both be
Oil & Gas Development Company Limited (OGDCL) announced an oil discovery from its exploratory well, Bobi Deep-1, located in District Sanghar, Sindh. OGDCL discovered oil reserves in the Bobi and Dhamraki Mining Lease, the company informed the Pakistan Stock Exchange (PSX) on Wednesday. The E&P is the well operator with 100% working interest. “Based on the interpretation of wireline logs, the