News

After an overnight unprecedented bloodbath, the Pakistan Stock Exchange (PSX) showed a slight recovery as global markets rebounded from the heavy losses triggered by the US reciprocal tariffs and retaliatory measures, raising fears of a worldwide recession. Ali Najib, head of sales at Insight Securities, said the PSX exhibited some sign of recovery as the index opened with a gain of 1,100 point

Following a reduction in wheat prices, the rates for various types of flour have dropped in the wholesale market. However, only a few retailers have passed on this relief to consumers. Karachi Wholesalers Grocers Association (KWGA) Chairman Rauf Ibrahim said the wholesale price of flour No. 2.5 fell to Rs67 from Rs80 per kg and that of fine flour to Rs76 from Rs84 per kg over the past couple of

A senior US official on Wednesday underscored Washington’s strategic interest in Pakistan’s mineral sector, signalling a push for long-term cooperation in the development of critical mineral resources key to American advanced technologies. “Critical minerals are the raw materials necessary for our most advanced technologies,” Eric Meyer, senior bureau official for the Department of State’s Bure

Oil and Gas Development Company Ltd expects to start production in Abu Dhabi’s Offshore Block-5 by 2027, while also increasing domestic oil and gas output and diversifying into minerals, its CEO said on Wednesday. OGDCL partnered with Abu Dhabi National Oil Company (ADNOC) in 2021 to explore and develop oil and gas resources in the block. Ahmed Hayat Lak, managing director and CEO of OGDCL,

Lucky Investments Ltd on Wednesday raised an unprecedented Rs50 billion during the initial public offering (IPO) of its Lucky Islamic Money Market Fund, shattering all previous subscription records. According to a press release, this landmark achievement marks an extraordinary milestone in Pakistan’s financial sector, where investors nationwide demonstrated overwhelming confidence in the compan