Oil and Gas Development Company Limited (OGDCL) has commenced crude oil production from its Bobi Deep-1 discovery well in Sindh on a fast-track basis, less than a month after announcing the discovery. In a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, OGDCL said it had successfully connected the Bobi Deep-1 well to the existing Bobi processing plant through a newly laid 4-inc
Pakistan’s capital market continued its strong growth momentum during the first half of 2026 as the Securities and Exchange Commission of Pakistan (SECP) approved ten Initial Public Offerings (IPOs) for listing on the Pakistan Stock Exchange (PSX). Nine companies have successfully completed their IPOs, raising more than Rs. 20 billion, while the book building for LSE SPAC-II is scheduled to tak
Auto experts and analysts have voiced concerns over the recently announced federal budget, warning that some of its measures could hurt Pakistan’s automobile sector and calling on the government to introduce safeguards for the industry. Speaking to Business Recorder, Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) senior vice chairman and auto analyst Shehryar Qadi
Gold fell over 1% on Tuesday and was set for a fourth straight monthly decline, as uncertainty in the Middle East gave way to expectations of US interest rate hikes to tame inflation. Spot gold declined 1.5% to $3,957.74 per ounce by 0112 GMT and was set for a monthly fall of 12.7%. US gold futures for August delivery lost 1.7% to $3,971.60. The US dollar was headed for a monthly gain,
Oil prices dipped on Tuesday and were poised for a monthly decline, with investors eyeing potential US-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. Brent August crude futures, which expire on Tuesday, were down 0.9%, or 64 cents, at $72.51 a barrel as of 0356 GMT. These levels are around $20, or 22%, lower than last month’s closing. The more actively trade