Indus Motor Company Limited (INDU) announced that its board has approved an additional investment of Rs1 billion (~$3.59 million) to enhance what it called localisation of production. The company, the maker of Toyota-brand vehicles in the country, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday. “This is in continuation of our letter dated August 30, 2024,
Oil prices were up more than 1% on Monday as peace talks between the US and Iran stalled while shipments through the Strait of Hormuz remained limited, keeping global oil supplies tight. Brent crude futures rose $1.35, or 1.3%, to $106.68 a barrel by 0453 GMT, retreating from early session gains of over $2 a barrel. US West Texas Intermediate was at $95.35 a barrel, up 95 cents, or 1%. Last
Selling pressure continued unabated at the Pakistan Stock Exchange (PSX) amid escalating geopolitical tensions in the Middle East, with the benchmark KSE-100 Index shedding nearly 2,200 points during the first half of the trading session on Friday. At 12pm, the benchmark index was hovering at 167,007.65, down by 2,165.72 points or 1.28%. Selling was observed in key sectors, including automob
Pakistan has cleared all outstanding deposits owed to the United Arab Emirates (UAE), the State Bank of Pakistan (SBP) announced on Friday, as it repaid $1 billion to the Abu Dhabi Fund for Development. “SBP repaid deposit of $1 billion to Abu Dhabi Fund for Development (ADFD), UAE, on 23 April 2026,” said the central bank. “Deposits of $2.45 billion were repaid last week. This completes the
Faysal Bank Limited (FBL) delivered a sound and resilient financial performance in the first quarter of 2026, reporting Profit Before Tax (PBT) of Rs 10.8 billion and net profit of Rs 5.2 billion, translating into Earnings Per Share (EPS) of Rs 3.40. The Bank also declared an interim cash dividend of Rs 1.5 per share (15 percent), reflecting confidence in its performance and outlook. FBL mainta