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Dollar subdued as markets eye ceasefire talks; yen pressured by BOJ delay

April 21, 2026 2:32

HONG KONG: The dollar and yen were under pressure on Tuesday, with investors poised to buy riskier currencies and hoping for a U.S.-Iran deal to reopen ‌Gulf shipping, while a sticky inflation reading lifted the New Zealand dollar. With the ceasefire set to expire this week, the fate of Iran peace talks remained uncertain as Tehran has yet to decide how to proceed with the diplomatic process following a recent escalation in tensions. However, investors think both sides are motivated to reach a deal. President Donald Trump said negotiations are happening “relatively quickly” and will ⁠yield better terms than previous agreements. The euro stood at $1.1782 and sterling traded at $1.35225 , both down roughly 0.1% so far on the day. The risk-sensitive Australian dollar weakened 0.1% to $0.7171 in early trading. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was steady at 98.087 after a 0.2% decline on Monday. “I think the talks between those two parties will be the key driver in the next 24 hours,” said Carol Kong, currency strategist at the Commonwealth Bank of Australia. “Markets are just in a wait-and-see mode.” Trump appears eager to reach a deal with Iran and end the war quickly, but ‌it’s ⁠very much dependent on the outcome of the negotiations, she added. Thai baht/US dollar weaker on Thursday “We still see two-sided risks to the U.S. dollar.” Central bank moves watched The yen was steady at 158.955 per dollar, continuing to hover near the crucial 160 level that traders see as the line in the sand for intervention. The Bank of Japan is likely to hold off raising interest rates ⁠next week, five sources familiar with its thinking said, as fading prospects of a near-term end to the Middle East war keep the country’s economic and price outlook uncertain. The kiwi traded at $0.59085 , up 0.3%. New Zealand’s annual inflation rate was unchanged ⁠at 3.1% in the first quarter, above the central bank’s target range, increasing the likelihood of further rate hikes this year. Meanwhile in the U.S., Kevin Warsh, Trump’s nominee to lead the Federal Reserve, will tell lawmakers ⁠at his Senate confirmation hearing on Tuesday that he is “committed to ensuring that the conduct of monetary policy remains strictly independent.” Attention will be paid to U.S. retail sales for March later today, with analysts predicting a chunky 1.4% increase. [...]

Rupee gains ground against US dollar

April 20, 2026 3:45

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279.30, 279.27, 279.26, 279.25, 279.22, 279.21, 279.20, 279.17, 279.16, 279.15, 279.12, 279.11, 279.10, 279.07, 279.06, 279.05, 279.02, 279.01, 279.00, 278.97, 278.96, 278.95, 278.92, 278.91 ], borderColor: 'black', borderWidth: 1, fill: false, pointRadius: 3 }] }, options: { responsive: true, plugins: { legend: { display: false } }, scales: { x: { title: { display: true, text: 'Date' } }, y: { title: { display: true, text: 'Closing Rate' } } } } }); The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Monday. At close, the local currency settled at 278.91, a gain of 0.01, against the greenback, according to the State Bank of Pakistan (SBP). On Friday, the local unit closed at 278.92. Meanwhile, the US dollar firmed to its highest level in a week against major currencies on Monday. The euro slipped 0.14% to $1.1746 and sterling fell 0.29% to $1.3479. The risk-sensitive Australian dollar sank 0.3% to $0.7145 in early trading. The dollar index, which measures the US currency against six peers, was at 98.38, hovering near its highest in a week and recouping some of its recent losses. The index is down 1.5% in April as investor appetite for risk picked up during the month as hopes had risen for a peace deal. The index had surged 2.3% in March on haven demand after the war broke out. Analysts at Barclays said their sentiment data showed investors still favoured the dollar, so it had more room to drop should the situation in the Middle East normalise. “Any (market) wobble would likely have less space to extend and may even prove opportune to re-establish short dollar exposures,” they said in a note dated Sunday. “The question here remains on whether this wobble is even ‌worth trading ⁠given all the related noise and uncertainties.” Oil prices jumped about 5% in Monday trading on fears that the ceasefire between the United States and Iran could collapse after ‌the US seized an Iranian cargo ship and traffic through the Strait of Hormuz remained largely halted. Brent crude futures advanced $4.37, or 4.8%, to $94.75 a barrel by 1148 GMT and US West Texas Intermediate was up $4.76, or 5.7%, at $88.61. Inter-bank market rates for dollar on Monday BID Rs 278.91 OFFER Rs 279.11 Open-market movement In the open market, the PKR lost 3 paise for buying and 5 paise for selling against USD, closing at 279.37 and 280.25, respectively. Against Euro, the PKR gained 81 paise for buying and 64 paise for selling, closing at 327.63 and 331.08, respectively. Against UAE Dirham, the PKR remained unchanged for buying and gained 3 paise for selling, closing at 76.04 and 76.94, respectively. Against Saudi Riyal, the PKR lost 1 paisa for buying and gained 4 paise for selling, closing at 74.26 and 75.09, respectively. Open-market rates for dollar on Monday BID Rs 279.37 OFFER Rs 280.25 [...]

S&P 500, Nasdaq retreat as mounting US-Iran tensions dampen sentiment

April 20, 2026 2:34

The S&P 500 and the Nasdaq eased from record highs on Monday, after a stunning rally on Wall Street last week, as renewed U.S.-Iran tensions threatened a ceasefire collapse and dented investor sentiment. Iran opened the Strait of Hormuz on Friday, fueling a broad market surge, with the S&P 500 and the Nasdaq posting record highs for a third straight session and marking their biggest weekly gains since May. However, Tehran closed the waterway again after the U.S. said it had seized an Iranian cargo ship that tried to run its blockade. Iran’s foreign ministry said on Monday there were no plans for a second round of negotiations with the U.S. “One explanation for this diplomatic whiplash is the power vacuum at the heart of the Iranian government. It may also be that both sides are increasing their leverage ahead of the next round of talks while still fundamentally in search of a deal,” said Lizzy Galbraith, senior political economist at Aberdeen. Wall Street Week Ahead: Surging record-high US stocks to wade deeper into earnings season “Progress towards a lasting ceasefire and the reopening of the Strait of Hormuz remains a case of two steps forward, one step back.” Oil prices jumped 5% on Monday, lifting the energy sector on the benchmark S&P 500 up 0.9%. At 10:05 a.m. ET, the Dow Jones Industrial Average rose 11.67 points, or 0.01%, to 49,459.10, the S&P 500 lost 7.29 points, or 0.10%, to 7,118.77 and the Nasdaq Composite lost 59.97 points, or 0.24%, to 24,408.51. Gains in Goldman Sachs and JPMorgan Chase buoyed the Dow. The S&P 500 consumer discretionary and communication services indexes were the biggest weights, dragged down by declines of about 1.5% each in Amazon.com and Meta Platforms, respectively. Tech stocks on the S&P 500 were subdued, with losses countered by a 1.4% gain in Apple. Marvell Technology advanced 4.4% after The Information reported on Sunday that Alphabet’s Google was in talks with the chipmaker to develop two new chips to run AI models more efficiently. The CBOE Volatility Index, known as Wall Street’s “fear gauge”, gained after falling for the past eight sessions and was last up 1.50 points at 18.98, a one-week high. The small-cap Russell 2000 index was subdued after notching a record high on Friday. Quarterly earnings will be in focus as investors wait to assess the impact of the Iran war on corporate results and on the broader economy, with companies including Lockheed Martin and IBM scheduled to report later this week. Tesla will kick off results from the so-called “Magnificent Seven” cohort on Wednesday. Data compiled by LSEG I/B/E/S expects first-quarter earnings from S&P 500 companies to grow 14.4%, compared with 13.7% a year ago. Among other movers, QXO shares dipped 7.2% after the construction supplies distributor struck a $17 billion deal to acquire building products distributor and installer TopBuild, whose shares jumped 16.8%. Declining issues outnumbered advancers by a 1.05-to-1 ratio on the NYSE and by a 1.13-to-1 ratio on the Nasdaq. The S&P 500 posted 28 new 52-week highs and no new lows while the Nasdaq Composite recorded 103 new highs and 24 new lows. [...]

Middle Eastern bourses fall on renewed US-Iran tensions

April 20, 2026 2:00

Gulf equities ended lower on Monday, on fears the ceasefire between Washington and Tehran could unravel after the U.S. seized an Iranian cargo vessel, while traffic through the Strait of Hormuz remained largely suspended. Hopes for a more lasting peace in the region dimmed after Iranian state media reported that Tehran had rejected fresh talks and would not take part in a second round of negotiations the U.S. had hoped to convene before the ceasefire expires on Tuesday. Now in its eighth week, the war has triggered a historic shock to global energy supplies, sending oil prices soaring as the Strait of Hormuz remains effectively closed. Dubai’s main share index retreated 2.1%, snapping four sessions of gains, hit by a 2.3% fall in blue-chip developer Emaar Properties and a 2.9% slide in toll operator Salik Co . Budget airline Air Arabia finished 3% lower. Renewed Middle East tensions hit sentiment, with regional markets driven by geopolitical headlines and the Strait of Hormuz in focus after a shift in rhetoric over the weekend, said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group. Resilient domestic fundamentals may help limit the downside, while signs of de-escalation or strong earnings could support a rebound. In Abu Dhabi, the index lost 0.8%, dragged down by a 2.7% decline in Aldar Properties . The United Arab Emirates has begun talks with the United States on a potential financial backstop should the U.S.-Israeli war on Iran deepen the Gulf nation’s crisis, the Wall Street Journal reported on Sunday. Reuters could not immediately verify the report. Saudi Arabia’s benchmark index closed 0.9% lower, weighed down by a 1.2% fall in Al Rajhi Bank. On the other hand, Saudi Aramco gave up early gains to end flat. According to Takieddine, elevated oil prices could offer a supportive backdrop, helping to cushion downside risks and stabilize sentiment. Brent crude futures advanced $4.37, or 4.8%, to $94.75 a barrel, as investors dealt with conflicting messages about the war. The Qatari index lost 0.4%, with Qatar Islamic Bank dropping 1.8%. U.S. President Donald Trump had earlier warned that the United States would destroy Iran’s bridges and power plants if Tehran refused his terms, repeating threats he had made throughout the war. Iran, meanwhile, said any U.S. attack on its civilian infrastructure would trigger strikes on power stations and desalination plants in neighboring Gulf Arab states. Outside the Gulf, Egypt’s blue-chip index slipped 1.1%, with Commercial International Bank losing 1.6%. Saudi Arabia fell 0.9% to 11,367Abu Dhabi down 0.8% to 9,842Dubai retreated 2.1% to 5,862Qatar lost 0.4% to 10,672Egypt declined 1.1% to 51,813Bahrain slipped 0.8% to 1,934Oman down 0.7% to 8,259Kuwait lost 0.5% to 9,469 [...]

Gold price per tola drops by Rs4,900 per tola in Pakistan

April 20, 2026 1:33

Gold prices in Pakistan decreased on Monday in line with their loss in the international market. In the local market, gold price per tola reached Rs501,162 after a decline of Rs4,900 during the day. Similarly, 10-gram gold was sold at Rs429,665 after it fell by Rs4,201, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola reached Rs506,062 after a gain of Rs4,500 during the day. The international rate of gold declined by $49 to reach $4,788 per ounce (with a premium of $20). Meanwhile, the price of silver also decreased by Rs145 to reach Rs8,417 per tola. [...]

India bonds edge up in choppy session as traders weigh truce prospects

April 20, 2026 1:11

MUMBAI: Indian government bonds inched higher in a choppy session on Monday, with elevated crude oil prices and uncertainty over a truce expiring this week keeping traders cautious. The yield on India’s benchmark 6.48% 2035 bond settled at 6.8901%, versus 6.9049% on Friday. Bond yields move inversely to prices. Benchmark Brent crude futures were last at $94.77 a barrel, up 4.82% from the previous session after the U.S. seized an Iranian cargo ship that tried to run its blockade and Tehran vowed to retaliate, putting a fragile truce in jeopardy. The two-week ceasefire expires on Wednesday. Crude oil imports constitute around one-fourth of India’s total imports, making the country vulnerable to global oil price shocks. “Traders are still hopeful this war will end soon, which led to same late session buying,” Debendra Kumar Dash, senior vice president of treasury at AU Small Finance Bank. Dash said he favors shorter-tenor notes given the war and domestic liquidity conditions. “If the Reserve Bank of India maintains ample liquidity, the shorter-end of the curve will give better risk-adjusted returns,” he said. The yield on the benchmark 5-year note has climbed nearly 19 bps since the war began on February 28, while the 10-year bond yield has risen around 23 bps. India’s banking system liquidity surplus widened in April to levels last seen four years ago. It stood at 4.28 trillion rupees as of April 19. Traders also held back before a bout of fresh debt supply on Tuesday. Indian states will borrow 169 billion rupees on Tuesday through the sale of 7-30 year bonds. Rates India’s overnight index swap rates fell on Monday, led by the shorter-end, as traders scaled back some bets of imminent rate hikes this year. The one-year OIS rate eased 2.25 bps to 5.78%, while the two-year swap rate fell 2.75 bps to 5.9750%. The liquid five-year rate was down 2.25 bps at 6.3525%. [...]

Palm ends higher on crude oil and rival edible oils

April 20, 2026 12:30

JAKARTA: Malaysian palm oil futures closed higher on Monday, tracking strength in crude oil prices, while gains in rival edible oil pricesat the Dalian and Chicago markets provided additional support. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 47 ringgit, or 1.06%, to 4,497 ringgit ($1,138.19) a metric ton at the close. “The futures are trading slightly higher, mainly supported by stronger crude oil prices, as renewed tensions in the Middle East have once again reduced shipping activity in and out of the Gulf, helping prices recover some of last Friday’s sharp losses,” said Kang Wei Cheang, Singapore-based analyst from StoneX. At the same time, Dalian markets have rebounded from Friday’s losses, providing additional support to sentiment, while the Chicago soyoil complex is mixed, with soyoil recovering on oil/meal spreading and firmer crude oil prices, he added. Oil prices jumped more than 6% in early Monday trading on fears that the ceasefire between the United States and Iran could collapse after the U.S. seized an Iranian cargo ship and traffic through the Strait of Hormuz remained largely halted. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Dalian’s most-active soyoil contract edged up 0.17%, while its palm oil contract added 0.39%. Soyoil prices on the Chicago Board of Trade were up 1.24%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. According to independent inspection company AmSpec Agri Malaysia, exports of Malaysian palm oil products for April 1 - 20 fell 25.6% compared to March 1 - 20, while according to cargo surveyor Intertek Testing Services, they fell 25.8%. The ringgit, palm’s currency of trade, weakened 0.03% against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. [...]

Indian shares end little changed ahead of Mideast ceasefire deadline

April 20, 2026 12:23

Indian equity benchmarks ended little changed on Monday, as earnings-fuelled gains in banks were offset by concerns that the ceasefire between the U.S. and Iran might not hold. The U.S. seized an Iranian cargo ship that tried to run its blockade and Iran vowed to retaliate as efforts to build a more lasting peace in the region appeared under threat, with Tehran saying it would not participate in a second round of talks. The ceasefire between the two sides ends on Tuesday. Brent Crude oil rose to $95 per barrel. India imports a bulk of its crude and gas requirements and a prolonged spike in prices could worsen the growth and inflation outlook for the economy. “The market undertone is positive thanks to strong earnings from banks and a slight improvement in newsflow from the Middle East,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. “However, lack of certainty over whether the ceasefire will remain in place is keeping investors cautious.” India’s benchmark Nifty 50 rose 0.05% to 24,364.85, and the Sensex advanced 0.03% to 78,520.3. Both indexes settled at their highest closing levels since March 6. Nine of the 16 major sectors gained while the broader small-caps and mid-caps fell 0.5% and 0.2%, respectively. Banks advance Financials rose 0.1% as investors reacted to earnings from several private lenders over the weekend. ICICI Bank added 0.7% after beating fourth-quarter earnings estimate, while HDFC Bank dropped 0.6% as its weaker-than-expected net interest margin disappointed investors. India’s largest lender State Bank of India led the gains among bank stocks, rising 2.6% on prospects for improved earnings. Business updates and earnings of lenders released so far indicate that the rest, including SBI, are likely to have outperformed, according to analysts led by Param Subramanian at Investec. [...]

Apple withholds data in India antitrust case, watchdog sets final hearing

April 20, 2026 11:00

NEW DELHI: Apple has not submitted data sought by India’s antitrust body after an investigation found the U.S. firm abused its dominant position in the iPhone apps market, prompting the watchdog to fast-track a decision on penalties to a final hearing next month, an order shows. The Competition Commission of India (CCI) said in an April 8 order that Apple has not submitted details of its financials and its views on the investigation since October 2024, and instead cited a separate case pending in the Delhi High Court where the company has challenged India’s entire antitrust penalty law. The CCI typically requires financial information from companies to calculate penalties when they are found to have contravened the law. Apple, which denies any wrongdoing in the case, has said it fears it could be fined up to $38 billion if the watchdog uses its global turnover to calculate penalties in the case. Apple has “been afforded adequate opportunities to file” its objections or suggestions to the investigation report and has also “not submitted the requisite financial information,” said the CCI order, which is not public but was reviewed by Reuters. India weighs greater phone-location surveillance; Apple, Google and Samsung protest Apple and the CCI did not respond to Reuters queries. The Indian case is among the many Apple faces around the globe for alleged antitrust breaches. India is a key market for Apple where its iPhones have an 9% market share, compared to just 4% two years ago, Counterpoint Research says. Although the CCI has given Apple two more weeks to file its responses, it has for the first time fixed a final hearing date of May 21. Hearing date significant step Lawyers said the setting of a final hearing date signals the watchdog is hardening its stance. “Apple has the opportunity right now to submit its financials supported by an auditor’s certificate and then argue on quantum of penalty during the hearing based on these financials,” said Gautam Shahi, an antitrust partner at Dua Associates. “In case it fails, its arguments on quantum of penalty will be constrained accordingly.” The Apple case started way back in 2021 after a non-profit group opposed Apple’s practices. Later, Tinder-owner Match and Indian startups also opposed Apple. CCI investigators issued a report in 2024 that Apple exploited its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system. Apple denies wrongdoing by arguing it is a small player in India, where phones that use Google’s Android system are dominant. In its April 8 order, the watchdog also noted Apple requested the CCI in March to put its proceedings “in abeyance” while the Delhi High Court hears its challenge to penalty law. The CCI rejected that demand. The watchdog has maintained that Apple is trying to stall the antitrust case by challenging the penalty law. [...]

India central bank partially withdraws restrictions on certain Indian rupee trades

April 20, 2026 10:55

MUMBAI: The Reserve Bank of India on Monday rolled back some of the restrictions on certain types of rupee derivative trades, which it had initiated earlier in April to arrest the currency’s slide to successive record lows. The RBI withdrew instructions that barred authorized dealers from offering resident and non-resident users non-deliverable forwards. It also took back curbs barring users from rebooking any foreign exchange derivative contract canceled after April 1. Indian rupee falls most in a week as traders brace for US-Iran ceasefire expiry The central bank’s fresh notification also said authorized dealers could not enter into FX derivative contracts involving INR with their related parties, except for cancelling or rolling over existing contracts and transactions done with non-related non-resident users on a back-to-back basis. [...]

Indian rupee falls most in a week as traders brace for US-Iran ceasefire expiry

April 20, 2026 10:50

MUMBAI: The Indian rupee logged its steepest one-day fall in a week on Monday, with wary investors bracing for the end of the U.S.-Iran ceasefire a day later amid rising tensions in the Middle East. The Indian rupee declined to 93.1275 against the dollar, 0.2% lower than the previous session, its steepest fall since April 13. While the local currency had strengthened in early trading, it reversed course as dollar demand from state-run and foreign banks picked up, likely on behalf of merchant and foreign investor clients, traders said. A large Indian conglomerate was also spotted bidding for dollars, a trader at a Mumbai-based bank said. Elevated Brent crude oil prices also weighed, with futures last up more than 5%. The ceasefire was in doubt after the U.S. seized an Iranian cargo ship and Tehran vowed retaliation. The U.S. had hoped to start negotiations in Pakistan shortly before the two-week ceasefire expired, but Iran has refused to join for now. “The stop-start nature of peace talks does focus attention on when energy flows can fully restart and whether high oil prices will start to seep into other areas of the economy,” analysts at ING said in a note. For India, the uncertainty raises risks on both the current and capital account fronts by threatening to lift the country’s energy imports, and dampening foreign portfolio flows into local stocks and bonds. Overseas investors have already net sold nearly $20 billion of assets over March and April. The outflows, alongside other factors, have pummelled the Indian rupee and prompted the central bank to tap crisis-era tools to support the currency. “We see INR as a good example of where central bank smoothing has limited the currency’s underperformance throughout the shock, but where the degree of smoothing seen so far would be difficult to sustain if the pressures from the shock extend further,” per analysts at Goldman Sachs. [...]

Sterling dips as US-Iran peace talks falter

April 20, 2026 9:19

LONDON: The pound slipped on Monday after tensions between the US and Iran rose sharply over the weekend, raising the prospect that a two-week ceasefire might collapse and pushing investors towards the safe-haven US dollar. Market participants were also keeping an eye on UK assets as British Prime Minister Sir Keir Starmer prepared to address parliament as he faces calls to resign after it emerged former US ambassador Peter Mandelson had failed a vetting process. The pound was last down 0.1% at $1.3503 as the dollar rose. The euro was 0.1% higher against the pound at 87.10 pence. The US currency rose as stocks fell and oil prices climbed after Iran said it would not participate in a second round of negotiations. Tensions were running high after the US said it had seized an Iranian cargo ship that tried to run its blockade of the Strait of Hormuz. “Fresh worries are percolating about the fragility of the Iran ceasefire, sending oil prices higher and keeping investors on edge,” said Susannah Streeter, chief investment strategist at Wealth Club. The pound was not too far off Friday’s two-month high of $1.3599, however, reflecting market optimism that the worst of the Iran conflict is over. Sterling has climbed 2% this month, after falling 1.9% in April, as hopes of a ceasefire deal have caused investors to sell the dollar. Yet the pound could fall if Starmer is ousted due to the latest scandal over Mandelson’s appointment as US ambassador, which was ignited over the latter’s close ties to convicted paedophile Jeffrey Epstein. On Thursday, The Guardian reported that Mandelson had failed a security vetting process, heaping further pressure on Starmer. “This will be a tough session for PM Starmer and one which will extend into tomorrow, when the top civil servant involved in the approval process also appears at a parliamentary hearing,” said Chris Turner, global head of markets at ING. “GBP/USD could well hand back a big chunk of recent gains this week.” Some investors say Starmer’s replacement could lead Labour policies further to the left, increasing government borrowing. [...]

Euro zone yields rise on US-Iran ceasefire worries

April 20, 2026 7:49

LONDON: Euro zone bond yields rose on Monday, as concerns grew that the ceasefire between the United States and Iran might not hold, though borrowing costs were still meaningfully below their late March highs hit before the ceasefire was announced. Germany’s 10-year bond yield, the benchmark for the euro zone, rose 3 basis points to 2.99%. Rate-sensitive two-year yields rose nearly 5 bps to 2.47%. Efforts to build a more lasting peace appeared to be on shaky ground, as Iran said it would not participate in a second round of negotiations that the US had hoped to kick off before the ceasefire expires on Tuesday. In the short term, the US said it had seized an Iranian cargo ship that tried to run its blockade and Iran vowed to retaliate. That sent benchmark Brent crude futures up 6.6% on the day to $95 a barrel, underscoring worries for bond investors that sustained high energy costs could force central banks to hike rates to prevent a broader surge in inflation. Money markets see a small chance of a European Central Bank rate hike later this month, but see a 25 bp hike as likely by June and are close to fully pricing two such moves by year-end. Before the war, markets thought the ECB would remain on hold this year, but with a possibility of a rate cut. However, at times in March they were pricing three 25-bp rate hikes, sending Germany’s two-year yield as high as 2.77%. Italian bonds underperformed the German benchmark on Monday, with its 10-year yield up 6 bps to 3.74% and its 2-year yield nearly 5 bps higher to 2.66%. [...]

European shares set to open lower as hopes for US-Iran peace fade

April 20, 2026 7:48

Futures tracking Europe’s main stock indexes fell more than 1% on Monday, as hopes for peace in the Middle East ebbed with tensions reigniting after Washington seized an Iranian cargo ship that tried to run its blockade and Tehran vowed to retaliate. Futures tracking the STOXX 600 index slid nearly 1.5% by 0645 GMT, with contracts tracking Germany’s DAX and France’s CAC 40 index down 1.5% and 1.3%, respectively. The setback comes despite tentative signs of normalization at the Strait of Hormuz. Although Iran has reimposed a closure of the critical waterway, Kpler data revealed more than 20 vessels carrying oil, metals, gas, and fertilizer passed through on Saturday - the busiest traffic day since March 1. Still, markets have grown increasingly jittery as the US-Iran ceasefire, set to expire Tuesday, appears fragile. Iran rejected fresh peace talks with the US, according to its state news agency, just hours after President Donald Trump announced he would dispatch envoys to Pakistan while threatening new strikes unless Tehran accepts his terms. The uncertainty marks a sharp reversal from Friday’s optimism, when the STOXX 600 jumped more than 1% and secured its fourth consecutive weekly gain after Iran declared the Strait of Hormuz open. The strait is a conduit for one-fifth of global energy shipments. Elevated oil prices continue to weigh heavily on energy-dependent European economies, keeping investors cautious. Oil majors are expected to post strong gains as crude prices surged. Travel and industrial sectors might face steep declines, bearing the brunt of higher energy costs. [...]

Pakistan could cut fuel cost to Rs30 per litre via EV shift: Atif Mian

April 20, 2026 7:22

Pakistan could cut the effective cost of fuel to around Rs30 per litre equivalent by switching to electric vehicles powered by solar energy, a massive drop from the current petrol prices near Rs300, showing gaps in energy policy. The remarks were made by Atif Mian, a noted Pakistani-American economist and currently a professor of economics at Princeton University. “Petrol at Rs30/litre in Pakistan sounds crazy. It is not. What is crazy is the policy failure that prevents it,” said Atif in a post on a social media platform on Saturday. Atif maintained that petrol prices, which are currently around Rs300 per litre, excluding government levy, can effectively be Rs30 per litre. “People do not consume petrol for its own sake; they use it to travel. The average Pakistani rides a motorbike. A fuel-efficient motorbike can travel about 60km on one litre. An efficient electric scooter can travel about 30km per kWh, so it needs only 2 kWh to cover the same 60 km,” he said. The economist highlighted that in Pakistan, which is one of the best places in the world for solar, with an all-in LCOE (Levelised Cost of Energy or Electricity) cost of around 5 cents per kWh. The electricity cost is 10 cents or Rs30 per litre. “The Rs 30/litre calculation remains the same for cars,” he said. Atif said that the 300-versus-30 gap is the cost of bad policy. “It reflects billions of dollars of savings that could instead finance EV infrastructure: charging, distribution, battery swapping, and smart pricing software, etc. - boosting much-needed domestic investment,” he said. Not just a peacemaker, Pakistan helped make the world over $3tn richer: Atif Mian Highlighting the advantages of solar, Atif said that since being ‘highly modular’ does not need massive scale to get reasonable efficiency. “That creates business and employment opportunities for small domestic power producers. Instead, Pakistan leaned into large fossil-fuel plants financed by dollar-denominated borrowing and guaranteed returns. “Local firms face credit constraints, but solar creates a natural collateralizable cash flow through electricity sales to the grid. With the right regulatory framework, this could have unlocked large private domestic investment and employment. “Battery swapping is another area where small local businesses could have emerged and scaled,” he added. The economist maintained that an abundant solar supply will lower prices, allowing poor households and firms to shift usage to cheaper hours, which will lead to automatic demand stabilisation. “Green technology industries could be developed domestically with the right industrial policy, easing balance-of-payments pressure while raising employment and investment. “Instead, Pakistan chose imported-fuel power plants, protected a backwards-looking domestic auto sector, and raised electricity prices by burdening them with the fixed costs of those plants and heavy taxation, slowing EV adoption. Then came the net-metering fiasco, all to keep zombie power plants alive. “Pakistan’s energy policy may be the clearest example of a broken nervous system. I hope someone fixes it, because people are paying the price, 300-versus-30,” he concluded. [...]

LESCO commissions Padhana-II Feeder

April 21, 2026 12:10

LAHORE: The Lahore Electric Supply Company (LESCO) has formally commissioned the 11kV Padhana-II feeder at the Air Avenue Grid Station in the Burki area of Lahore. The inauguration ceremony was attended by National Assembly Speaker Sardar Ayaz Sadiq as the chief guest. Speaking at the ceremony, the LESCO officials stated that the previous 11kV Padhana feeder was connected to the 132kV Ghazi Grid Station and was operating at an approximate load of 400 amperes. This resulted in voltage drops and increased line losses. To improve system performance, a new 11kV Padhana-II feeder was established under area planning and linked to the 132kV X-Air Avenue Grid Station, significantly enhancing the efficiency and stability of power distribution. The newly installed feeder will ensure improved and more reliable electricity supply to several areas, including Padhana Village, Rampura Chhota, Rampura Bara, Surja Marja, Ganiyake Dera, Baba Umar Din’s Dera, and Pathanke. Consumers in these localities are expected to experience substantial relief from low voltage, frequent tripping, and unreliable power supply. The project was completed at a total cost of Rs34.446 million. Addressing the ceremony, Speaker Sardar Ayaz Sadiq said the government remains committed to providing better facilities to the public, adding that such development projects play a vital role in public welfare. LESCO Chief Executive Engineer Muhammad Ramzan Butt stated that the project would reduce line losses and improve voltage levels, ensuring the provision of quality and uninterrupted electricity to consumers. The ceremony was also attended by senior LESCO officials, including General Manager Technical Rai Muhammad Asghar, Chief Engr Planning and Development Faisal Zakria, Superintending Engineer South Muhammad Hussain, Project Director Construction Mohsin Ali, and Executive Engineer Defense Cantt Aziz Bhatti. Copyright Business Recorder, 2026 [...]

Jam, Ethiopian envoy explore new avenues for trade

April 21, 2026 12:10

ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan and Ethiopian Ambassador to Pakistan, Dr Oumer Hussein Oba, held a detailed meeting to explore new avenues for strengthening bilateral trade, industrial collaboration, and regional connectivity between Pakistan and Ethiopia, with a particular focus on expanding engagement across African markets. During the meeting, both sides expressed satisfaction over the growing momentum in Pakistan–Ethiopia relations and emphasized the need to translate this engagement into practical, results-oriented partnerships. The Commerce Minister noted that recent bilateral interactions have laid a “fresh foundation” for jointly exploring not only each other’s markets but also broader opportunities across Africa. He proposed organising a multi-country business forum in Islamabad, inviting East African nations to witness Pakistan’s industrial capabilities firsthand. He stressed that such direct exposure would help reshape global perceptions about Pakistan and unlock new trade and investment opportunities. Highlighting Pakistan’s strengths, the Minister underscored the country’s robust small and medium enterprise (SME) sector, which produces a diverse range of goods including home appliances, engineering products, agricultural machinery, and consumer goods. He pointed to strong potential for cooperation in agriculture and engineering industries, particularly in tractor manufacturing, noting that Pakistan’s expertise in these sectors could support mechanization and boost productivity in African economies. A key area of discussion was the cosmetics and personal care industry, where the Minister noted significant growth in Pakistan over the past four to five years. He proposed joint ventures between Pakistani and Ethiopian firms in cosmetics, perfumes, and related products to tap into rising consumer demand in both regions. Referring to Pakistan’s industrial success stories, the Minister invited the Ethiopian delegation to visit Sialkot, describing it as a unique model of private-sector-led development. He highlighted that the city’s business community, led by the Sialkot Chamber of Commerce and Industry, has independently developed infrastructure, including an international airport. Sialkot remains a global hub for sports goods, surgical instruments, leather products, and footwear, with exports reaching billions of dollars annually, including to the European Union. On trade logistics, the Minister stressed the importance of improving connectivity and reducing reliance on third-country transshipment hubs such as Jebel Ali Port. He proposed enhancing direct maritime links through feeder vessels to African ports, which could significantly cut transit time from over 10–12 days to just 2–3 days. He also highlighted Pakistan’s geographic advantage, particularly Karachi, as a gateway for African exports to Central Asia through regional maritime corridors, including Djibouti Port. The Minister further emphasized the immense tourism potential in both countries, noting that Ethiopia’s natural beauty and climate are “truly remarkable,” while Pakistan remains a “sleeping giant” in the tourism sector. During the discussion, Dr Oumer Hussein Oba informed the Minister that a Single Country Exhibition of Ethiopia is planned to be held in Islamabad by the end of this year, following a successful exhibition previously organized in Ethiopia. The Commerce Minister welcomed the initiative and described it as an important step toward strengthening bilateral trade ties. The Ambassador also shared that Ethiopian Airlines is planning to launch direct flights to Lahore, which will significantly enhance business-to-business (B2B) linkages, improve connectivity, and promote cultural exchange between the two countries. The Ethiopian side appreciated Pakistan’s economic progress and acknowledged the country’s skilled human resource base and strong hospitality sector. Dr Oba emphasized that human capital remains the most critical resource and called for deeper cooperation in education, skills development, and institutional collaboration. Both sides agreed that Pakistan and African countries stand at a pivotal moment, where diversification, industrial cooperation—including agriculture, engineering, and tractor manufacturing—tourism promotion, and practical business engagement can unlock substantial economic opportunities. They reaffirmed their commitment to enhancing bilateral trade, promoting joint ventures, and building a long-term, quality-driven economic partnership. Copyright Business Recorder, 2026 [...]

Rs35m penalty imposed on real estate developer: CAT upholds CCP’s order against housing society

April 21, 2026 12:10

ISLAMABAD: The Competition Appellate Tribunal (CAT) has upheld the Competition Commission of Pakistan (CCP)’s order dated 27th May 2025 against a housing society, directing the real estate developer to deposit a penalty of Rs 35 million for misleading consumers about the location and approval status of its housing project. During the proceedings, the Commission observed that said housing society had engaged in deliberate deceptive marketing by portraying its project, actually located in Mouza Choora, Rawalpindi, as in Islamabad through billboards, social media, and other advertisements, thereby misleading consumers to command higher value. It is further added that the project was being widely promoted as “NOC approved” even before formal approvals were obtained, indicating a calculated strategy to deceive. In its detailed judgment, the Tribunal endorsed the Commission’s findings, holding that the company had clearly misrepresented the project by advertising it as “Kingdom Valley Islamabad” despite its actual location in Rawalpindi. It noted that advertisements had been launched prior to obtaining approvals, reinforcing the element of deception. Rejecting the housing society’s defence that similar practices were prevalent in the sector, the Tribunal observed that “the deception angle becomes insurmountable when violation occurs in broad daylight,” adding that “two wrongs never make one right.” While upholding the violation under Section 10(2)(b) of the Act, relating to dissemination of false or misleading information to consumers, the Tribunal maintained the penalty of Rs 35 million, terming the misstatement of the project’s location a “grave default.” It emphasised that such practices are particularly harmful in the real estate sector, where consumers are frequently misled by exaggerated claims, often resulting in significant financial losses. The Tribunal further directed that failure to deposit the penalty within 20 days would result in restoration of the Commission’s original order in its entirety, exposing the company to higher financial liability. The CCP’s original ruling came with a broader warning from the CCP regarding the systemic risks posed by deceptive marketing in Pakistan’s real estate market. In its original order, the Commission highlighted that real estate remains a critical pillar of the economy, with strong linkages to multiple sectors, yet continues to suffer from weak regulation and the proliferation of misleading schemes. “The importance of responsible and accurate advertising in relation to real estate should not, in any circumstance, be undermined,” the Commission had noted, pointing out that for most Pakistanis, property investment represents a lifetime financial decision, often financed through savings or bank credit. Misleading claims, therefore, carry far greater consequences than ordinary consumer transactions. The CCP further observed that deceptive marketing practices in the sector not only harm individual buyers but also undermine market integrity and long-term economic sustainability. It noted that Kingdom Valley’s advertising campaign—spanning digital platforms, billboards and print media — was disseminated widely and appeared to be part of a sustained business strategy rather than an isolated lapse. The Commission also flagged the company’s lack of cooperation during the investigation and stressed the need for deterrence, warning that unchecked deceptive practices could distort competition and erode consumer trust The ruling reinforced the CCP’s enforcement stance against deceptive marketing, particularly in the real estate sector, which has come under increasing scrutiny due to persistent consumer complaints and misleading advertising practices. Copyright Business Recorder, 2026 [...]

US-Iran tensions, firmer dollar push gold to one-week low

April 21, 2026 12:10

NEW YORK: Gold prices were down on Monday after falling to a one-week low earlier in the session, as the dollar and oil prices climbed on Iran’s threat of retaliation in response to the US takeover of an Iranian cargo vessel. Spot gold was down 0.3percent at USD4,818.03 per ounce, as of 9:23 a.m. EDT (1323 GMT), after hitting its lowest price since April 13 earlier in the session. US gold futures for June delivery fell 0.8percent to USD4,839.10. The US dollar rose to its highest level in a week before paring gains to trade up 0.1percent, as renewed US-Iran tensions caused uncertainty in markets about the chances of a peace deal. Benchmark 10-year US Treasury yields gained, increasing the opportunity cost of holding non-yielding bullion. “The situation in the Middle East has clearly intensified again, shifting our gold forecast tilted slightly to the downside amid increased risks of another sharp spike in oil prices, which could result in a higher dollar and bond yields,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. A ceasefire between the US and Iran appeared in jeopardy on Monday after the takeover of the cargo ship. Oil prices jumped around 5percent on fears the ceasefire would collapse, and as flows through the Strait of Hormuz remained largely halted. Though gold is considered an inflation hedge, demand for the non-yielding asset is dampened when global interest rates are high. Rates could remain higher for longer as a result of heightened inflation due to the war in the Middle East. “Gold traders on this day are choosing the bearish daily elements (higher dollar, yields) for the metals. Technically, June gold futures bulls’ next upside price objective is to produce a close above solid resistance at USD5,000,” Jim Wyckoff, senior analyst at Kitco Metals, said in a note. Among other metals, spot silver lost 0.8percent to USD80.18 per ounce, platinum fell 1.2percent to USD2,077.35, and palladium was down 0.3percent at USD1,554.48 after touching a one-week low earlier. [...]

Need stressed to improve trade balance with China

April 21, 2026 12:10

KARACHI: In a strategic push to improve trade balance with China, Saquib Fayyaz Magoon Senior Vice President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Chairman Businessmen Panel Progressive (BMPP) met with Shahzad Ahmed, Consul General of Pakistan in Shanghai. The core message was: without targeted investment in value-added production, Pakistan cannot hope to transform its export mix to China. Both sides agreed that Pakistan’s agriculture and food sectors hold immense potential, with investment flows into processing, packaging, and quality control. Magoon stressed that shifting from raw products to value-added goods requires capital infusion in cold chains, certification labs, and branding. He called for detailed market research to identify high-demand items in China, urging farmers and exporters to align cultivation with Chinese requirements—backed by investment in modern farming and post-harvest facilities. The discussion also highlighted that even the best products fail without superior presentation. Improved packaging, branding, and quality standards were identified as urgent investment priorities to make Pakistani goods competitive and appealing to Chinese consumers. Opportunities in information technology were also reviewed. Both leaders emphasised that promoting IT exports and software development joint ventures depends on sustained investment in digital infrastructure, skills training, and technology parks. Pakistan’s rapidly growing tech industry, they noted, is ready for Chinese partnership capital. Another key issue was the progress of the Naphtha Cracker Plant project, for which a memorandum of understanding was signed last year. The project faces delay due to financing hurdles on the Chinese side. Both parties emphasised the urgency of resolving these investment bottlenecks, given the project’s strategic importance for Pakistan’s industrial growth and petrochemical sector—a value-added industry by definition. Shahzad Ahmed lauded FPCCI’s efforts in trade diplomacy and assured full support from the Consulate General in Shanghai, not just in facilitating exports but in actively helping Pakistani businesses attract Chinese investment for value-added ventures. He reiterated that China remains a vital strategic and economic partner for Pakistan, and that closer collaboration between business communities would yield long-term benefits. Saquib Fayyaz Magoon reaffirmed FPCCI’s commitment to playing a proactive role in expanding Pakistan-China trade ties, attracting investment, and fostering cooperation in key sectors for mutual advantage. The message was consistent throughout: investment in value addition is no longer optional — it is the only path to transforming Pakistan’s export mix to China. Copyright Business Recorder, 2026 [...]

July-March exports to Kenya jump 32pc to USD319.9m YoY

April 21, 2026 12:10

KARACHI: Pakistan’s exports to Kenya have recorded a significant increase during the first nine months (July-March) of this fiscal year (FY26). According to official data, exports reached USD 319.9 million, compared to USD 251.6 million during the same period last year, reflecting an impressive 32 percent growth. This remarkable performance places Kenya among Pakistan’s top five export destinations globally and firmly establishes it as the largest export destination in Africa. On this development, Rafique Suleman President of the Pakistan Kenya Business Council, and former Chairman of the Rice Exporters Association of Pakistan (REAP) said that Pakistan’s growing footprint in the Kenyan market is highly encouraging for the country’s export sector. Rice exports have played a pivotal role in driving this growth, while access through Mombasa has enabled Pakistani products to penetrate not only Kenya but the broader East African region, he mentioned. He further added that alongside rice, Pakistan is also exporting a diversified range of products to Kenya including used clothing, pharmaceuticals, textiles, garments, sports goods, IT services and software solutions, as well as solar and renewable energy products, which are steadily gaining traction in the East African market. He highlighted that the Port of Mombasa serves as a key trade gateway for the region, facilitating the movement of Pakistani goods to neighboring countries such as Uganda, South Sudan, Rwanda and beyond, thereby amplifying Pakistan’s export reach. He extended special thanks to the government of Pakistan and key stakeholders for their support. He acknowledged the leadership of Jam Kamal Khan, Federal Minister for Commerce, whose policy direction has significantly contributed to export growth. He also appreciated the efforts of Pakistan’s High Commissioner to Kenya, Ibrahim Khan, and Commercial Counsellor Adila younis for their active role in strengthening bilateral trade relations. Furthermore, he recognized the valuable contributions of Senior Vice Chairman REAP Javed Jelani for his continuous support and guidance to exporters and for promoting the rice sector in international markets. The statement also emphasized that ongoing efforts by Pakistan’s leadership to promote peace and stability in the region are commendable. The role of Field Marshal Chief of Army Staff General Asim Munir and the Shahbaz Sharif Prime Minister of Pakistan in de-escalating tensions and fostering regional stability is crucial. A peaceful and stable environment will pave the way for enhanced trade opportunities and open new avenues for Pakistan’s exports globally. Copyright Business Recorder, 2026 [...]

Maryam highlights importance of blue economy programme

April 21, 2026 12:10

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has expressed her resolve to rehabilitate barren lands across the province by converting them into economic zones under the ‘Blue Economy Programme.’ Significant progress has been achieved in developing infrastructure for shrimp farming projects in Sargodha Estate, Ali Wala and Shah Garh. The chief minister appreciated the team for expediting work on the projects. In the Sargodha shrimp farming project, excavation of 118 ponds has been completed, while boring of 116 tube wells and 100 per cent land clearing and survey over 365 acres have also been finalised. Construction of the warehouse is 90 percent complete, while work on the admin block and feed store is progressing rapidly. The project spans a total area of 500 acres. For the Ali Wala shrimp estate, 90 percent of the allocated 1,267 acres have been cleared. Excavation of 642 out of 737 ponds has been completed, while 91 percent work on the drainage system and 100 percent excavation of MDC drains have been finalised. A survey and clearing of a 9,000-metre road network have been completed, and 80 percent earth filling work has also been achieved. Construction foundations for the admin office, hostel, ware house and labour residences have been completed. At the Shah Garh shrimp farm, 90 percent work on water supply, 95 percent electrification and 97 percent construction of the access road have been completed. Experts have submitted their reports to the authorities. The chief minister said that promotion of aquaculture and shrimp farming of international standards would help rehabilitate barren lands, create employment opportunities and boost exports. Under her vision, the Blue Economy Programme has been launched to develop unused lands across Punjab. This marks the first government-backed initiative in the province introducing a modern scientific system for shrimp farming. According to experts, the water temperature has been found suitable for shrimp cultivation. The report further stated that shrimps are being provided 114 kilograms of feed daily, while supplements have shown encouraging results in improving both quality and yield to international standards. Maryam Nawaz commended the team for their rapid progress and reiterated that the initiative would help transform Punjab into a hub of aquaculture. Copyright Business Recorder, 2026 [...]

CTIS 2026 at London: Global leaders tapped for investment partnerships

April 21, 2026 12:10

ISLAMABAD: Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, held a series of high-level bilateral meetings with global business leaders and institutional representatives on the sidelines of the Commonwealth Trade and Investment Summit 2026 (CTIS 2026), which is under way in London. The minister’s engagements are aimed at strengthening Pakistan’s investment partnerships and promoting economic cooperation. During the engagements, the Federal Minister met with Clive Vacher, CEO of De La Rue; Ash Brooke, Director at TPP; Gibraltar MP, Hon Christian Santos; Minister of Trade for Cameron; Rt Hon Lord Marland, Chairman Commonwealth Enterprise and Investment, Lord Swire and Professor Asif Chaudhary (Board Member CWEIC); Yazeed Saleh, CEO of Saudi Eksab; Deputy PM of Malta along with other notable officials. In these meetings, the Minister highlighted Pakistan’s improving economic outlook under the dynamic leadership of Prime Minister Shehbaz Sharif and Field Marshal Asim Munir. Pakistan continues to advance as a stable, secure, and investment-friendly country. The government’s coordinated efforts in economic reforms, institutional strengthening, and investor facilitation are reinforcing global confidence and positioning Pakistan as an increasingly attractive destination for foreign investment. The Federal Minister presented Pakistan’s diverse investment opportunities across priority sectors, including information technology, energy, infrastructure development, agriculture, and manufacturing. He particularly emphasized the potential of Special Economic Zones (SEZs), which offer attractive incentives, modern infrastructure, and strategic connectivity, making Pakistan a gateway to regional markets. Discussions with international counterparts focused on exploring joint ventures, enhancing trade linkages, and fostering collaboration in financial services, digital solutions, and industrial development. The engagements also reflected growing international interest in Pakistan’s reform agenda and its efforts to position itself as a competitive investment destination. Copyright Business Recorder, 2026 [...]

Govts of SAARC nations urged to focus on economic cooperation

April 21, 2026 12:10

KARACHI: Spokesperson of the Businessmen Panel (BMP) South and former Chairman of the Rice Exporters Association of Pakistan (REAP), Rafiq Suleman has urged the governments of SAARC countries to set aside minor political differences and focus on economic cooperation by reducing trade barriers, improving connectivity, and harmonizing regulations. He also emphasized greater collaboration in sectors such as tourism, healthcare, pharmaceuticals, education, and agriculture, which hold strong potential for cross-border partnerships. Congratulating the leadership of the SAARC Chamber of Commerce and Industry (SCCI), particularly its Vice President Anjum Nisar, on the completion and inauguration of the Chamber’s headquarters in Islamabad, he stated that the establishment of the SAARC Chamber’s central secretariat in Pakistan marks an important and positive development towards promoting regional trade. The newly established headquarters will facilitate trade, policy dialogue, and research-based initiatives. Rafiq Suleman emphasized the need for stronger regional trade integration among South Asian countries, noting that intra-regional trade within SAARC remains limited to only 5 percent despite vast potential. He expressed hope that Pakistan’s ongoing positive efforts to help ease tensions between Iran and the United States—efforts that are being recognized globally—have enhanced Pakistan’s importance in South Asia. In such circumstances, the new infrastructure of the SAARC Chamber will support efforts to boost economic cooperation and provide a platform for a joint strategy to promote regional trade. He highlighted that South Asia, which accounts for nearly 20 percent of the world’s population, offers a vast consumer base and production capacity, yet remains one of the least economically integrated regions. He stressed that effectively promoting trade among SAARC countries could significantly improve economic indicators of member states and reduce dependence on non-regional markets. Comparing with other regional blocs, the BMP spokesperson noted that intra-regional trade stands at around 36 percent in ASEAN and over 60 percent in the European Union, whereas it remains limited to about 5 percent within SAARC. This disparity, he said, reflects structural and policy gaps that need to be addressed through coordinated efforts. Copyright Business Recorder, 2026 [...]

Oil prices rise 6pc on fears of US-Iran ceasefire collapse

April 21, 2026 12:10

NEW YORK: Oil prices jumped around 6 percent in Monday trading on uncertainty over peace talks between the US and Iran after violence flared around the Strait of Hormuz. Brent crude futures settled USD5.10, or 5.64 percent, higher to USD95.48 a barrel. US West Texas Intermediate advanced USD5.76, or 6.87 percent, at USD89.61. Both contracts had tumbled by 9% on Friday for their largest daily declines since April 18 after Iran said that passage for all commercial vessels through the Strait of Hormuz was open for the remainder of the ceasefire. Over the weekend, the US seized an Iranian cargo ship that tried to break through its blockade while Iran said it would retaliate, heightening fears of a resumption in hostilities. READ MORE: Oil prices rise 5% on fears of US-Iran ceasefire collapse “The goodwill that was generated on Friday has totally evaporated,” said Bob Yawger, director of energy futures at Mizuho. With a two-week ceasefire set to expire later this week, the renewed hostilities cast doubts over prospects for a second round of talks between the US and Iran in Pakistan. Iran is considering attending the peace talks, a senior Iranian official told Reuters on Monday, but no decision had been made. The Gulf nation’s Foreign Minister Abbas Araqchi told his Pakistani counterpart Ishaq Dar that the US “continued violations of the ceasefire” are a major obstacle to the continuation of the diplomatic process, an Iranian foreign ministry statement said on Monday. Trump, asked over the weekend about the chance of a ceasefire extension, said: “I don’t know. Maybe not. Maybe I won’t extend it. But the blockade is going to remain.” [...]

Apple names insider John Ternus as CEO, Cook to become executive chairman

April 20, 2026 11:17

SAN FRANCISCO: Apple on Monday named insider John Ternus as its next CEO, tasking the long-time hardware chief to steer the company after Tim Cook as the iPhone maker gears up for an industry change spurred by artificial intelligence. Ternus, who joined Apple in 2001, has played a key role in reigniting sales of products such as Apple’s Mac computers, which have gained market share in recent years. At 50, Ternus is the same age Cook was when he took over CEO duties from Apple co-founder Steve Jobs. He most recently showed the company’s iPhone Air last autumn, the biggest revamp of the iPhone since 2017 and a key proving ground for several new chips. READ MORE: Apple to bring paid ads to maps to US, Canada this summer Ternus, who helped bring about now-ubiquitous products such as iPads and AirPods, will be tasked with helping Apple navigate a technology landscape upended by AI, after losing its crown as the world’s most valuable company to Nvidia. Ternus will have to fend off Nvidia, which has announced its own personal computer and is working on chips that can power laptops, as well as rivals such as Meta Platforms, whose augmented-reality glasses have become a surprise hit with just a fraction of the capabilities - and price tag - of Apple’s Vision Pro headset. “The promotion of Mr. Ternus indicates the company will focus on new hardware devices such as folding phones, glasses, VR devices and AI pins,” said Gil Luria, managing director of D.A. Davidson & Co. Cook will become the company’s executive chairman, Apple said in a statement. Apple stock has soared twenty-fold since Cook took over as CEO in August 2011. Cook, who presented a custom golden plaque to U.S. President Donald Trump, will also continue to engage with policymakers, the company said. In naming Ternus chief executive, Apple is shifting from a supply-chain guru who helped turn Apple into a global brand that churns out hundreds of millions of units per year, to a leader who has long focused on design and products. Ben Bajarin, CEO of technology consulting firm Creative Strategies, said Ternus is well-liked within Apple “and will bring fresh energy.” Separately, Apple said that Johny Srouji, who has overseen Apple’s custom chip and sensor designs, has been named chief hardware officer. [...]

Pakistan upsizes Eurobond to $750mn after ‘strong investor demand’

April 20, 2026 6:30

Pakistan has increased its three-year Eurobond issuance to $750 million after exercising the greenshoe option and placing an additional $250 million with global institutional investors, reflecting stronger-than-expected demand following its return to international capital markets after four years, Advisor to the Finance Minister Khurram Schehzad said on Monday. The bond was initially issued at $500 million under the government’s Global Medium-Term Note (GMTN) programme, marking Pakistan’s first Eurobond issuance in four years. Khurram Schehzad had earlier said the issuance attracted strong investor interest despite ongoing global economic and geopolitical uncertainties, signaling renewed confidence in Pakistan’s economic outlook. According to the latest update, the successful exercise of the greenshoe option highlights sustained investor appetite and broadens participation by global institutional investors. Officials said the upsizing would enhance the depth and liquidity of Pakistan’s sovereign yield curve and strengthen the country’s re-engagement with global capital markets. The development is also expected to build momentum for future issuances under the GMTN Programme and provide a fresh pricing benchmark for upcoming international fundraising. Schehzad had said the bond was priced at competitive terms, reflecting improving macroeconomic indicators and stabilising financial conditions. He noted that the successful return to global markets marked a key milestone in the government’s broader strategy to diversify external financing sources and reduce reliance on short-term funding. “The strong demand underscores renewed investor trust and reflects the government’s disciplined debt management approach,” he had said. The proceeds from the Eurobond will support Pakistan’s external financing needs and help strengthen foreign exchange buffers. Pakistan had also recently repaid $1.3 billion in Eurobond obligations on schedule, which officials said helped improve investor sentiment and reinforced the country’s credibility in international debt markets. Preparations are also underway for the appointment of financial advisors for upcoming GMTN and international Sukuk programmes, while progress on the Panda Bond initiative continues. Pakistan’s return to the Eurobond market comes amid easing energy prices and gradual macroeconomic stabilisation, factors that have helped improve the country’s risk perception among global investors. [...]

Rupee gains ground against US dollar

April 20, 2026 3:45

S&P 500, Nasdaq retreat as mounting US-Iran tensions dampen sentiment

April 20, 2026 2:34

Strait of Hormuz closure: Pakistan faces LNG crunch as three cargoes stuck in Persian Gulf

April 20, 2026 2:11

At least three Liquefied Natural Gas (LNG) cargoes destined for Pakistan are currently stranded in the Persian Gulf, according to Bloomberg’s vessel-tracking data. The South Asian country has gone more than a month without receiving any LNG shipments due to the closure of the Strait of Hormuz, raising the risk of increased power outages as temperatures begin to rise, said the report. Last week, Minister for Power Sardar Awais Ahmad Khan Leghari said that power load-shedding during peak hours will continue until the supply of LNG is restored, which is currently unavailable due to a force majeure declared by Qatar. Pakistan ramps up furnace oil use, delays nuclear maintenance amid LNG shortages The country is facing a shortfall ⁠of around 3,400 megawatts due to reduced hydropower output, as rainfall and lower irrigation demand have limited water releases from reservoirs, Awais Leghari told a press conference. There has also been a sharp drop in LNG-based generation, prompting load management of up to 6–7 hours in some areas, Leghari added. Pakistan’s LNG-fired plants, with about 6,000 MW capacity, are producing only around 500 MW due to gas shortages, while hydropower output has fallen to about 1,600 MW, roughly half of last April’s level, he said. On the global front, the ceasefire in the Iran war, due to run until Tuesday, was in doubt after the U.S. seized an Iranian cargo ship and Tehran’s top military command vowed to retaliate. Iran rejected new peace talks with the U.S., its state news agency reported on Sunday, hours after U.S. President Donald Trump said he was sending envoys ‌for ⁠talks in Pakistan and would launch new strikes on Iran unless it accepts his terms. [...]

Gold eases on firmer dollar as investors await clarity on US-Iran talks

April 21, 2026 2:40

Gold prices eased on Tuesday as the dollar firmed, while investors waited ‌to see if the U.S. and Iran are meeting this week for peace talks after renewed tensions over the weekend. Spot gold was down 0.2% at $4,807.91 per ounce, as of 0217 GMT, extending its fall from Monday when it hit the lowest level since April 13. U.S. gold futures for June delivery were steady at $4,827.30. The U.S. dollar firmed, making greenback-denominated commodities ⁠more expensive for holders of other currencies. Investors are now awaiting “the next headline regarding whether the talks are going to go ahead in Islamabad and then if they do, whether a ceasefire is extended or even better, a peace deal is done,” said Kyle Rodda. “If those things happen, gold will probably be well supported because oil prices will drop. If those things don’t come about, you might start to see some of that volatility come back into the market,” Rodda said. Oil prices fell as investors reassessed supply risks on expectations peace ‌talks ⁠between the U.S. and Iran will take place this week and allow more supply to flow from the key Middle East producing region. Higher crude prices feed into inflation by raising transportation and production costs. Gold is considered an inflation hedge, but high interest rates make yield-bearing assets more attractive, weighing on its appeal. Iran is ⁠considering attending peace talks with the United States in Pakistan, a senior Iranian official told Reuters on Monday, following moves by Islamabad to end a U.S. blockade of Iran’s ports, a significant obstacle to Tehran rejoining peace ⁠efforts as the end of a two-week ceasefire approaches. The two-week ceasefire to the conflict that has killed thousands and roiled the global economy, particularly energy markets, is set to expire this week. Gold ⁠prices have fallen about 8% since the U.S. and Israel launched strikes on Iran in late February. Among other metals, spot silver fell 0.6% to $79.40 per ounce, platinum lost 0.7% to $2,074, while palladium was up 0.3% at $1,556.16. [...]

Stocks rebound as Iran peace talks in focus; Warsh hearing looms

April 21, 2026 2:36

TOKYO: Stocks rebounded in early trading in Asia on Tuesday as markets took heart from reports Iran is considering attending peace talks with the United States in Pakistan, with renewed bets on AI underpinning demand. Investors ‌were also keeping their eyes on a Senate confirmation hearing later for Kevin Warsh, U.S. President Donald Trump’s nominee to lead the Federal Reserve, which Trump has repeatedly criticised for failing to cut rates sooner and more aggressively. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.9%, as South Korea’s Kospi rose 2.1% to hit a fresh record high for the first time since the Iran war began. S&P 500 e-mini futures were up 0.1%, while Brent crude slipped 0.4% to $95.09 a barrel. Japan’s Nikkei 225 tacked on 1.2%, while Australian shares bucked the trend, slipping ⁠0.3%. An uneasy ceasefire between the United States and Iran frayed after the U.S. announced the seizure of an Iranian cargo ship, drawing vows of retaliation from Tehran. Iran said over the weekend it would skip a second round of negotiations, though a senior official later told Reuters the country may yet send delegates to talks expected in Islamabad. Adding to the uncertainty, Vice President JD Vance remained in the United States on Monday, a separate source told Reuters, denying reports he was already on his way to Pakistan for talks. The renewed tensions had reignited a surge in oil prices overnight as traffic through the Strait of Hormuz remained largely paralysed. “While potential talks in Islamabad remain likely, rhetoric from Washington and Tehran continued to point to fragile and strained negotiations,” analysts from Westpac wrote in a research report. Overnight, the S&P 500 was down 0.2% on worries over whether the U.S.-Iran ceasefire would hold, while the Nasdaq Composite ‌snapped a ⁠13-day winning streak, its longest in more than three decades. Warsh’s confirmation hearing before the Senate panel is scheduled to begin at 10 a.m. EDT (1400 GMT) on Tuesday, with his independence from the Trump White House expected to be a key focus. Warsh will say he is “committed to ensuring that the conduct of monetary policy remains strictly independent,” according to his prepared remarks, while economists say his attitudes towards the central bank’s quantitative easing program will also be critical. “In the past, Warsh was a vocal ⁠critic of the Fed’s ‘bloated’ balance sheet, as he called it, and argued that it creates a distortionary impact on asset prices,” said Bansi Madhavani, senior economist at ANZ in London. “His preference for a smaller balance sheet is quite clear, but any guidance around what he thinks will be the optimal size, we think that will be relevant,” ⁠she said on a podcast. The U.S. dollar index , which measures the greenback’s strength against a basket of six currencies, held steady at 98.08, firmly in the middle of the range it has sat in during the past week. The euro was fetching $1.1782 and sterling traded at $1.35225 , both down a touch on the day. ⁠The risk-sensitive Australian dollar also eased 0.1% to $0.7171 in early trading. The yield on the U.S. 10-year Treasury bond was up 0.8 basis point at 4.256%. Bets on so-called dollar debasement languished. Gold was up 0.1% at $4,824.83 after a month of moving sideways. Cryptocurrencies fluctuated in the trading channel they have wallowed in since early February, with bitcoin down 0.3% at $76,072.61 and ether slipping 0.8% to $2,320.92. [...]

Dollar subdued as markets eye ceasefire talks; yen pressured by BOJ delay

April 21, 2026 2:32

Tri-Pack Films Limited

April 21, 2026 2:12

Tri-Pack Films Limited (PSX: TRIPF) was established as a Public limited company in 1993. The company is a joint venture between Mitsubishi Corporation of Japan and Packages Limited of Pakistan. The company is engaged in the manufacturing and sale of Biaxially Orientated Polypropylene (BOPP) films and Cast Polypropylene (CPP) films in Pakistan. Pattern of Shareholding As of December 31, 2025, TRIPF has an outstanding share capital of 38.80 million shares which are held by 1693 shareholders. Associated companies, undertakings and related parties hold 79.58 percent of TRIPF’s shares. Within this category, Packages Limited leads with 26.87 million (or 69.25 percent) shares followed by IGI Investments (Private) Limited holding 3.75 million (or 9.66 percent) shares. After associated companies, local general public forms the next biggest shareholder category accounting for 14.62 percent of TRIPF’s shares. Directors, CEO, their spouse and minor children own 2.12 percent of the company’s shares. The remaining shares are held by other categories of shareholders. Historical Performance (2019-2024) TRIPF’s topline posted growth over the period under consideration. Conversely, its bottomline slid thrice during the period i.e. in 2019, 2022 and 2024. The company posted net loss in 2019, 2024 and 2025. TRIPF’s margins which slightly ticked down in 2019 rebounded for the subsequent two years. In 2022, all the margins deteriorated. In 2023, gross and net margins grew while operating margin slightly dipped. This was followed by a plunge in margins in 2024. In 2025, TRIPF’s margins ticked up. The detailed performance review of the period under consideration is given below. In 2019, TRIPF’s topline registered year-on-year growth of 11 percent to clock in at Rs. 14,683.27 million. This was the effect of improved prices, better sales mix, increased export volumes and new products commercialized during the year. The company sold 48,198 M tons of products, down 1 percent year-on-year in 2019. While export sales multiplied by 462 percent to clock in at 4050 M tons, local sales took 8 percent slide due to general slowdown of economy in 2019. High cost of sales due to Pak Rupee depreciation, high inflation, soaring international commodity prices and elevated energy sector tariff slightly reduced the company’s GP margin from 10.41 percent in 2018 to 10.15 percent in 2019. Gross profit increased by 8.26 percent in 2019. TRIPF’s operating expense grew by 14.76 percent year-on-year in 2019 primarily due to higher fuel rates resulting in towering outward freight charges. Other income increased by 75.76 percent year-on-year in 2019 due to higher scrap sales and liabilities written back during the year. Other expense slumped by 94.47 percent year-on-year in 2019 due to no profit related provisioning made during the year. As a consequence, operating profit grew by 10 percent year-on-year in 2019; however, OP margin slightly ticked down from 5.50 percent in 2018 to 5.45 percent in 2019. Finance cost escalated by 61.47 percent year-on-year in 2019 due to higher discount rate as well as exchange loss. Higher finance cost coupled with increased taxation due to minimum tax on the import of raw plastic materials resulted in net loss of Rs.309.81 million in 2019 as against net profit of Rs.157.36 million in 2018. TRIPF posted loss per share of Rs.8 in 2019 versus EPS of Rs.4.1 in 2018. During 2020, COVID-19 affected all the sectors of the economy – locally as well as globally. Yet, TRIPF was able to achieve a sales volume of 47,972 metric tons, down by a paltry 0.5 percent year-on-year. Local sales volume slightly improved by 1 percent in 2020, however, export sales plunged by 16 percent year-on-year due to restrictions on the movement of goods and people in many export destinations (see the graph of Sales volume). Topline inched up by 2.77 percent to clock in at Rs.15,089.80 million in 2020. Gross profit multiplied by 63.83 percent year-on-year in 2020 with GP margin clocking in at 16.18 percent owing to operational effectiveness, better export margins and reorganizing of product portfolio. During 2020, Admin and distribution cost expanded in line with high fuel cost and certain one-off expenses such as provision for bad debts and legal expenditures. Other income increased by 65 percent year-on-year in 2020 due to onetime gain on re-measurement of GIDC in accordance with the reporting standards. Other charges grew exorbitantly from Rs.1 million to Rs.135.33 million in 2020 owing to statutory charges and loss on trade receivables. Operating profit strengthened by 97.72 percent year-on-year in 2020 with OP margin climbing up to 10.50 percent. The company was able to reduce its finance cost by only 1.28 percent year-on-year despite reduction in the discount rate because of huge exchange loss during the year. Besides low discount rate, the company has reduced its debt-to-equity ratio from 60:40 in 2019 to 54:46 in 2020. TRIPF was able to post net profit of Rs.614.09 million in 2020 with NP margin of 4.07 percent. EPS stood at Rs.15.8 in 2020. 2021 touted an impressive topline growth of 26.27 percent year-on-year. Its net sales clocked in at Rs.19,054.46 million. This was despite 2 percent lower sales volume. In 2021, while many economies were showing signs of recovery post COVID-19, the company faced supplychain disruptions on account of shipping line issues and container shortages which affected the timely supply of raw materials. Local sales volume plunged to 42,810 metric tons (down 4 percent year-on-year) while export sales showed a recovery of 17 percent year-on-year to clock in at 3985 metric tons. The growth in topline and GP margin of 16.83 percent attained in 2021 was the result of higher prices and better margins on export sales. Operating expense grew by 8.25 percent year-on-year in 2021 on account of inflation. Other expenses and other income dropped due to one-time bookings recorded in the last year. Operating profit strengthened by 41.64 percent in 2021 with OP margin climbing up to 11.76 percent. Finance cost increased by 2.14 percent in 2021 despite discount rate cuts owing to exchange loss which grew by 12 percent year-on-year coupled with loss on re-measurement of provision for GIDC. Besides, the company increased its debt-to-equity ratio to 65:35 on account of greater working capital needs and capital investment in new BOPP line project. TRIPF’s net profit grew by 69.66 percent year-on-year in 2021 to clock in at Rs.1041.86 million with NP margin of 5.47 percent and EPS of Rs.26.85 – the highest level since 2017. In 2022, the company was able to maintain its topline growth trajectory. In fact, in 2022, the topline growth of 26.59 percent year-on-year, was the highest growth ever achieved by TRIPF. The company’s net sales clocked in at Rs.24,120.28 million. However, this couldn’t trickle down into a healthy bottomline growth. High sales growth was the result of 41 percent higher export sales volume as well as 1 percent higher local sales volume attained by the company during the year coupled with high prices. Overall, sales volume went up by 4 percent year-on-year in 2022 (see the graph of sales volume). Due to ongoing energy crisis in China, the company tapped new markets for specialized films which were not available before, hence providing impetus to its export sales. In 2022, SSGC switched the company’s gas supply to RLNG which is 3 times as much expensive as normal gas. This increased the cost of sales of TRIPF resulting in a lower GP margin of 15.78 percent in 2022. 30.28 percent higher administrative and sales expenses came on the back of higher outward freight charges owing to improved export sales with inflationary pressure and elevated fuel prices also playing their due role. Other income surged by 48.64 percent year-on-year in 2022 primarily due to higher sale of scrap materials. However, improved other income was absorbed by 45.11 percent increased other expense on the back of loss allowance booked on trade receivable in 2022 versus reversals in the previous year. Operating profit grew by 13.91 percent year-on-year in 2022, however, OP margin slipped to 10.59 percent. Finance cost escalated by 41.80 percent year-on-year on the back on multiple hikes in the discount rate coupled with company’s highly leveraged capital structure. This coupled with the imposition of super tax squeezed the bottomline by 17.12 percent year-on-year in 2022 to clock in at Rs.863.51 million with NP margin dropping to 3.6 percent and EPS clocking in at Rs.22.26. In 2023, TRIPF’s topline attained a paltry 3.31 percent year-on-year rise to clock in at Rs.24,919.17 million. During the year, local sales volume dipped by 15 percent while export sales volume surged by 17 percent. Overall sales volume tapered off by 11 percent in 2024 (see the graph of sales volume). Stability of gross margin despite hiking cost of sales validate upward price revision and higher margin on export sales due to Pak Rupee depreciation. Lower local off-take was due to import restrictions and muted economic activity. Operating expenses mounted by 20.24 percent year-on-year in 2023 on the back of inflation and exorbitant fuel prices. Other income grew by 50.15 percent year-on-year in 2023 due to insurance claim received during the year as fire incident occurred at the company’s film manufacturing facility located at Port Qasim. Other expense slid by 6.27 percent in 2023 as TRIPF recorded loss allowance on trade receivables in 2022 which were reversed in 2023. All these factors culminated into 2.53 percent bigger operating profit posted by TRIPF in 2023 with OP margin clocking in at 10.51 percent slightly lower than the OP margin of 10.59 percent recorded by the company in 2022. Finance cost dropped by 22.38 percent in 2023 due to better working capital management. Net profit multiplied by 13.39 percent year-on-year in 2023 to clock in at Rs.979.118 million with EPS of Rs.25.24 and NP margin of 3.93 percent. In 2024, TRIPF’s net sales posted year-on-year growth of 18 percent to clock in at Rs.29,413 million. Local sales volume grew by 16 percent while export sales volume grew by 57 percent. Overall, the company recorded 23 percent higher sales volume in 2024. Higher sales were supported by lower international prices. Lower margin on export sales due to global recession coupled with higher gas and fuel prices resulted in 5.77 percent downtick recorded in gross profit in 2024. GP margin also fell to 12.82 percent in 2024. Operating expense escalated by 17.33 percent in 2024 due to inflationary pressure and elevated fuel prices. Other income improved by 12.44 percent in 2024 due to higher sale of scrap, income on bank deposits and government grant. The company didn’t book any provisioning for WWF and WPPF in 2024, hence no other expense was recorded. TRIPF booked allowance on ECL worth Rs.35.69 million in 2024. Operating profit nosedived by 14.83 percent in 2024 with OP margin shrinking to 7.58 percent. Finance cost surged by 177 percent in 2024 due to higher discount rate as the company obtained short-term loan to meet working capital requirement and long-term loan to finance the establishment of BOPP line 5. TRIPF posted net loss of Rs.431.446 million in 2024 with loss per share of Rs.11.12. Recent Performance (2025) In 2025, TRIPF recorded 2.69 percent year-on-year growth in its topline which clocked in at Rs.30,203.69 million million. This was driven by higher volume in both local and export markets (see the graph of sales volume). Overall sales volume of the company strengthened by 4.20 percent to clock in at Rs.55,273 tons. Increased dispatches coupled with increase in prices and efficiency achieved from new BOPP line 5 resulted in 14.92 percent stronger gross profit in 2025 with GP margin clocking in at 14.34 percent. Operating expense surged by 23.25 percent in 2025 due to higher payroll expense, freight charges and commission on export sales. The company expanded its workforce from 320 employees in 2024 to 346 employees in 2025. Other income strengthened by 37.97 percent in 2025 due to increased government grant. As against last year, where the company recorded no other expense, TRIPF incurred other expense of Rs. 26.81 million 2025 as it did provisioning for WWF. Allowance for ECL also increased by 80.68 percent in 2025. Operating profit grew by 8.78 percent in 2025 with OP margin inching up to 8 percent. Finance cost surged by 5.58 percent in 2025 despite lower discount rate. This was due to highly leveraged capital structure of the company with debt-to-equity ratio of 79 percent in 2025. This was due to the debt obtained for new BOPP Line 5. Exorbitant exchange loss also contributed in driving up finance cost in 2025. TRIPF posted net loss of Rs.366.734 million in 2055 with loss per share of Rs.9.45. Future Outlook Export sales of the company are expected to grow further on the back of newly identified export destinations. The improvement in macroeconomic indicators will also fuel the growth of local sales. However, high cost of production on the back of expensive RNLG will continue to take its toll on the margins. Competitive pressure is expected to increase on the back of increased supply in the local market and proposed FTA with the Gulf countries. In order to mitigate the risk of increased competition, TRIPF has commissioned a new tape line which will not only strengthen its position in the domestic market but will also enable it to enter into new customer segments. [...]

Power generation: Recovery builds, constraints bind

April 21, 2026 2:06

Pakistan’s national grid power generation in 9MFY26 remains below historical highs, even as recent months point to a gradual but visible recovery in demand. At close to 90 billion kilowatt hours, cumulative output is still around 8 percent lower than the peak recorded in the same period of FY22. Generation trails FY23, sits broadly in line with FY24 and FY21, and is only marginally higher than last year, underscoring that the system is recovering, but not yet back to peak intensity. At the margin, however, momentum has improved. March extended the recent pattern of actual generation exceeding reference levels, with output of 8.9 billion units against a reference of 8.4 billion units. This follows the break observed earlier in the year and suggests that underlying demand is firming up after a prolonged period of compression. This recovery is being driven in large part by the near-complete shift of industrial consumers back onto the grid. Having relied heavily on captive generation in recent years, industries are returning as grid tariffs turn competitive again. Industrial demand has already risen by an estimated 35 to 40 percent year on year. The shift is significant enough that some industrial players are now reconsidering further solar expansion, as grid electricity has, for many, begun to price out incremental solar capacity. A scenario that would have been difficult to imagine even a couple of years ago. The divergence from reference generation in March is best understood through the fuel mix. Hydel generation provided a critical cushion, with its share rising to 24 percent, well above the referenced 15.5 percent. This translated into roughly 800 million additional units, absorbing much of the pressure created by shortfalls elsewhere and preventing a sharper deviation in overall fuel costs. That pressure stemmed primarily from a decline in nuclear and RLNG-based generation. Nuclear output remained around 22 percent below reference levels, while RLNG availability was severely constrained. With supply disruptions limiting inflows, RLNG-based generation fell to just 500 million units, less than a third of the reference level. While the drop in RLNG helped contain fuel costs to some extent, it created a supply gap that had to be filled through other, more expensive sources. Imported coal once again acted as the system’s balancing fuel. Generation from imported coal rose to around 1.2 billion units, roughly three times the reference level, highlighting the extent to which the system leaned on it to maintain stability. As a result, the fuel cost adjustment remained positive for the fourth consecutive month. However, unlike the sharper increases seen earlier, the March adjustment was relatively contained, with lower RLNG usage offsetting some of the upward pressure. What is more critical than the aggregate numbers is the evolving demand profile. The hourly generation curve for March shows a pronounced midday dip, deeper than even two years ago, despite higher overall demand levels. This reflects the growing footprint of off-grid and behind-the-meter solar, which is suppressing daytime grid consumption while leaving evening demand largely intact. The result is a much steeper ramp requirement after sunset. As demand begins to approach 2022 highs, the system now has to manage larger and faster increases in load within a short window. In the absence of sufficient RLNG-based flexibility, this burden is shifting to other, less efficient sources. Hydel, despite its higher overall share, has not consistently provided support during peak ramp hours, further complicating system operations. These pressures are increasingly visible on the ground. Load management, particularly in high-demand regions such as Punjab, is re-emerging as a tool to manage peak stress. What is being framed as peak relief is, in effect, targeted load shedding. At the same time, longstanding transmission bottlenecks between the north and south continue to constrain optimal dispatch. Despite years of investment, evacuation capacity remains a limiting factor, and even modest spikes in evening demand are enough to destabilize the system. The broader context has offered some relief. Pakistan’s rapid expansion in off-grid solar has helped shield overall demand from external shocks, including recent geopolitical disruptions affecting energy markets. But this comes with its own trade-offs. The increasingly pronounced duck curve is making system balancing more complex, shifting the challenge from capacity adequacy to flexibility and timing. Looking ahead, constraints are unlikely to ease. RLNG availability is expected to remain limited, and domestic gas-based generation offers only a fraction of RLNG’s dependable capacity, roughly one-fourth by comparison. Even with full utilization of available gas plants, a shortfall during peak hours appears inevitable. The system is therefore entering a phase where trade-offs are unavoidable. Either higher-cost generation will need to be dispatched to meet evening peaks, or load shedding will continue as a balancing mechanism. In both scenarios, upward pressure on fuel cost adjustments and periodic tariffs is likely to persist, setting the tone for the months ahead. [...]

Incentives rather than coercion will succeed

April 21, 2026 1:05

EDITORIAL: A few days ago, while addressing the business community in Karachi, the interior minister, Mohsin Naqvi, urged Pakistanis to bring back money they had transferred abroad in previous years. The tone suggested a degree of urgency. The government is finding it increasingly difficult to shore up foreign exchange reserves: war-related uncertainty is drying up some inflows, energy import payments are set to rise, and there is also a risk that home remittances could weaken. The government appears to be relying on a carrot-and-stick approach. On the one hand, officials are hinting at some form of incentive in the next budget for those who repatriate their money. This could take the shape of lower taxes or some other concession. But nothing concrete has been announced, and given the federal government’s tight fiscal position, it is difficult to see how meaningful fiscal incentives could be offered. Investors are likely to remain cautious until there is greater clarity. On the other hand, there were also hints of action against those who moved money abroad through informal channels. But once money has left the country, the government cannot realistically force its return through threats or rulings. In the end, the decision rests with individuals. They will bring money back only if they see a credible advantage in doing so. One factor working in the government’s favour is the rising economic risk in the Middle East because of the war. A large share of affluent Pakistani wealth is believed to be parked in the UAE, and that region is now seen as significantly riskier than before. Those who have placed their savings there may be considering diversification, either by moving funds to other jurisdictions or, in some cases, by bringing some of it back home. There are already a few signs that this may be happening on the margin. Hawala rates are negative, trading below the interbank market, and there has been some pick-up in Karachi’s property market. That suggests the outflow of money to the UAE may have slowed, while some capital may also be finding its way back. This is the opening the government and the State Bank of Pakistan should focus on. The right incentives could encourage more people to repatriate funds. Coercion, by contrast, is unlikely to work and could even prove counterproductive. The better approach is to strengthen the carrots. One obvious step would be to raise the limit up to which no questions are asked about remitted funds. In 2017-18, the government allowed up to Rs5 million to be brought back without inquiry, which was roughly $50,000 at the time. That threshold still stands at Rs5 million, but today it is worth less than $20,000. That limit needs to be updated. Fear of the tax authorities will discourage many people from bringing hard-earned savings back to a country where macroeconomic and political risks remain high. An effective threshold should be closer to $250,000, and at the very least not below $100,000. If the government moves in that direction, more people may be willing to repatriate their funds. If it fails to act, however, investors may simply choose a different safe haven instead of the UAE rather than bringing money back to Pakistan. Pakistan should also use its geopolitical relevance, especially at a time when it is emerging as an important player in efforts to mediate between Iran and the US, to seek some flexibility from the IMF and think more creatively about attracting badly needed investment. That includes both domestic and foreign capital, which is essential if the country is to restart its reform agenda. Copyright Business Recorder, 2026 [...]

Pakistan, Egypt special forces conduct Thunder-II exercise

April 21, 2026 12:45

RAWALPINDI: Pakistan and Egyptian armies successfully concluded a two-week joint military exercise, aimed at counterterrorism operations, at Cherat. According to an Inter-Services Public Relations (ISPR) press release issued on Monday, the military exercise, Thunder-II, was designed to enhance interoperability by refining drills, procedures, and techniques related to counterterrorism operations through joint training. Combat teams from the Special Services Group (SSG) of the Pakistan Army and the Egyptian Special Forces actively participated, demonstrating exceptional professionalism and operational skill throughout the exercise. General Officer Commanding, Special Services Group, attended the closing ceremony as the chief guest, while the Commander of Egyptian Paratroopers, Major General Mohamed Saad Abdel Razik, and the Defence Attaché of Egypt also witnessed the event. The exercise also served to further strengthen the longstanding and historic military-to-military relations between the two friendly nations. [...]

Pakistan, Iran pledge closer engagement for lasting peace

April 21, 2026 12:35

ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar on Monday held a significant telephone conversation with Iran’s Foreign Minister Abbas Araghchi, underscoring the urgency of sustained diplomatic engagement to address outstanding regional issues. According to the Foreign Office, the call focused on strengthening bilateral communication and advancing efforts aimed at promoting peace and stability across the region. The interaction comes at a time of heightened diplomatic activity, with both sides signalling a willingness to deepen coordination on matters of mutual concern. During the conversation, Dar emphasised the importance of maintaining continuous dialogue and ensuring early engagement to resolve all pending issues. He stressed that proactive diplomacy remains essential for fostering a stable regional environment and preventing the escalation of tensions. The Pakistani foreign minister highlighted that meaningful negotiations could pave the way for long-term peace and constructive cooperation. Araghchi echoed similar sentiments, with both leaders agreeing that enhanced diplomatic contact would be critical in accelerating efforts towards sustainable peace. The two ministers reaffirmed their commitment to maintaining close coordination and keeping communication channels open at all levels. [...]

July-March exports to Kenya jump 32pc to USD319.9m YoY

April 21, 2026 12:10

People’s Bus Service: Launch of Tando Allahyar-Hyderabad route on 22nd: Sharjeel

April 21, 2026 12:10

KARACHI: Sindh Senior Minister, Sharjeel Inam Memon- holding portfolio of Information, Transport and Mass Transit- on Monday announced that the Sindh government will launch a new route of the People’s Bus Service between Tando Allahyar and Hyderabad on April 22, 2026, expanding its public transport network in the province. Memon said the new service is part of the second phase of the initiative, following its rollout in Shikarpur and Sukkur. He said the project is aimed at facilitating daily commuters and improving connectivity between the two cities. “The People’s Bus Service will provide significant convenience to citizens and help ease routine travel,” he said, adding that the government plans to gradually expand the modern transport system to other districts of the province. He said the service is designed to offer safe, comfortable and dignified travel in line with modern standards, as part of broader efforts to improve public transport infrastructure. The Sindh government is taking practical steps to provide affordable and reliable transport facilities, with more routes expected to be introduced in the coming phases, Memon added. Copyright Business Recorder, 2026 [...]

Sindh govt allows small wheat growers to supply unlimited grain

April 21, 2026 12:10

KARACHI: Sindh Chief Minister Syed Murad Ali Shah, presiding over a meeting, reviewed the ongoing wheat procurement campaign for 2026 and allowed small growers, registered under the scheme, to supply as much grain as they wish by waiving the five -bags-per-acre limit. He directed the food department to accelerate procurement, ensure immediate payments to farmers, and strengthen field-level outreach to meet the provincial target. The meeting was attended by Minister Information Sharjeel Memon, Minister Food Makhdoom Mahboobuz Zaman, Chief Secretary Asif Hyder Shah, PSCM Agha Wasif, Secretary Agriculture Zaman Narejo, Secretary Food Abbas Naich, senior officials, and representatives of Sindh Bank. Procurement drive underway The Chief Minister was informed that the wheat procurement campaign began on April 1, with a target of one million metric tons at a support price of Rs3,500 per 40 kg. The programme covers over 332,000 farmers cultivating wheat on approximately 1.94 million acres across the province. Minister for Food Makhdoom Mahboob Zaman informed the Chief Minister that approximately 8,958 metric tons of wheat had so far been procured against the overall target of 973,900 metric tons. Responding to a query, he stated that the procurement target could not be achieved primarily due to the restriction of five bags per acre imposed on small growers. Taking notice of the issue, Chief Minister Syed Murad Ali Shah immediately abolished the five-bag limit per acre and allowed small farmers to sell their wheat to the government without any quantity restriction. The meeting was told that payments to farmers have been significantly expedited, with funds now being transferred within one day through Sindh Bank. So far, Rs198.3 million has been disbursed among growers. The Chief Minister expressed satisfaction over the improved payment mechanism and said, “Timely payment is crucial for farmers’ trust. We must ensure that every grower is paid promptly and transparently.” Murad Ali Shah directed the district administration, agriculture, and food departments to further intensify the procurement drive and ensure maximum participation of farmers. “All eligible farmers must be encouraged to bring their wheat to government procurement centres. This is essential not only for food security but also for supporting our growers,” he said. He emphasised that farmers selling wheat to the government would remain eligible for future subsidies and support programmes. The meeting was informed that assistant commissioners and mukhtiarkars are regularly visiting procurement centres, while agriculture officials are actively engaging farmers. A control room has also been established for complaint redressal, and 12 additional wheat procurement centres have been opened to facilitate growers. The Chief Minister directed strict monitoring of procurement centres to ensure transparency and eliminate any malpractices. “There should be zero tolerance for irregularities. The entire process must remain farmer-friendly and efficient,” he said. Murad Ali Shah stressed close coordination among all departments to remove bottlenecks and improve operational efficiency. He also directed that non-functional procurement centres be made operational immediately and that logistical arrangements be strengthened in districts with low procurement. Reaffirming his government’s commitment, the Chief Minister said the wheat procurement campaign is a major initiative to support farmers and ensure food security in the province. “Our farmers are the backbone of our economy. We will continue to support them through fair pricing, timely payments, and effective procurement policies,” he concluded. Copyright Business Recorder, 2026 [...]

Pakistan set to install first FIFA Arena mini-football pitch

April 21, 2026 12:10

LAHORE: Pakistan has commenced installation of its first FIFA Arena mini football pitch, marking a significant step towards promoting grassroots football. The initiative has been launched by the Pakistan Football Federation (PFF), with the inaugural modern pitch being constructed at a government school in the Sabzazar area of Lahore. PFF President Mohsin Gilani said the project reflects the federation’s commitment to expanding access to football at the community level. “We are determined to give every child a chance to play football,” he stated. He added that work on a second FIFA Arena pitch is expected to begin soon in Khyber Pakhtunkhwa as part of the broader rollout plan. Copyright Business Recorder, 2026 [...]

CM underscores importance of Chinese language

April 21, 2026 12:10

LAHORE: Punjab Chief Minister Maryam Nawaz Sharif, in her message on Chinese Language Day, said that the Chinese language has gained significant importance on the global stage. She noted that Chinese is one of the six official languages of the United Nations. In her message, the chief minister stated that approximately 1.25 billion people around the world speak Chinese. She added that China’s remarkable development serves as a bright example for the world. Maryam Nawaz Sharif appreciated China’s key role in promoting peace, stability, and global development. She extended her congratulations to the Chinese people on Chinese Language Day and said that language plays a vital role in strengthening connections among people. She further stated that China’s political, diplomatic, and economic importance is widely acknowledged, making awareness of the Chinese language essential. The chief minister remarked that learning Chinese can further strengthen the friendship between Pakistan and China. She also highlighted that Punjab Police personnel assigned to the security of Chinese nationals are being taught the Chinese language. She emphasized that proficiency in Chinese is crucial for connecting with China’s market, adding that learning the language helps in understanding Chinese culture and fostering better relations with its people. Copyright Business Recorder, 2026 [...]

PMDC reviews three ‘scandals’ involving medical institutions

April 21, 2026 12:10

ISLAMABAD: The Pakistan Medical and Dental Council (PMDC) on Monday reviewed three recent scandals involving medical institutions and vowed to take strict action against any individual or institution found guilty of negligence, misconduct, or violations of student protection policies. The council convened a preliminary hearing to review the tragic incident of suicide by Fehmida Leghari, a 3rd year MBBS student in Muhammad Medical College, Mirpurkhas, reportedly linked to harassment. The 21-year-old student died in a suspected suicide on the night between April 8 and 9, her family has accused a teacher and fellow students of harassing her prior to her death. Following her death the relatives of the student blocked Mirpurkhas Toll Plaza for a couple of days in protest which consequently was reopened after the police arrested the accused. The President of PMDC, Prof Dr Rizwan Taj, along with Registrar, Dr. Rehan Naqvi, expressed sorrow over the incidents and emphasized a zero-tolerance policy towards harassment and any negligence in medical and dental institutions. Three preliminary hearings were convened to ensure a fair and informed assessment of the matters at hand before any formal disciplinary proceedings were initiated. Relevant stakeholders, including representatives of the concerned institution, were called to present their accounts so that the factual matrix could be clearly established. The President of PMDC carefully reviewed the initial findings and sought clarifications from the concerned representatives to verify key facts and to assess the sufficiency of evidence. This process was undertaken to determine whether the cases were ready for referral to the Disciplinary Committee for further adjudication. The first hearing was of the doctors with “Operation Theater video leak scandal”. All five doctors, including Dr Tayaba Fatima, Dr Zainab Tahir, Dr Muhammad Essa, Dr Ayesha Afzal, and Dr Maham Amin attended the hearing. The incident involved the circulation of an inappropriate video on social media by the postgraduate trainees of Lady Wellington Hospital, Lahore, showing a race amongst doctors performing surgeries on two tables and making callous comments. Second hearing was on the sad incident of suicide by a final year MBBS student, Fareeha, at Fatima Jinnah Medical College, Lahore. The principal of the College appeared and explained the facts. The third hearing was on the sad incident of suicide by Fehmida Leghari 3rd year MBBS of student of Muhammad Medical College, Mirpurkhas. The principal of the college appeared and explained the facts. After the preliminary hearings, President PMDC forwarded the cases to the PMDC disciplinary committee for final determination/ decisions. The disciplinary committee is scheduled to be held next week. He added that the council is also aware of the importance of effective grievance redressal mechanisms within institutions to prevent such incidents and ensuring a safe and supportive learning environment remains a top priority of PMDC. Copyright Business Recorder, 2026 [...]

Mayor visits KMC’s pension section, addresses complaints

April 21, 2026 12:10

KARACHI: Mayor Karachi Barrister Murtaza Wahab made an unannounced visit to the Karachi Metropolitan Corporation’s (KMC) pension section on Monday, where he reviewed operations and addressed complaints raised by retired employees. During the visit, Wahab listened to pensioners’ grievances and issued on-the-spot directives to resolve pending issues, under-scoring the need for prompt and efficient service delivery. He also inspected other sections of the KMC’s welfare department to assess overall performance. “Retired employees are a valuable asset of this institution, and every possible step will be taken to address their concerns,” Wahab said, adding that negligence or delays in pension-related matters would not be tolerated. The Mayor warned officials that he would personally monitor pension affairs and continue to conduct surprise visits to ensure accountability. Copyright Business Recorder, 2026 [...]

Punjab by-polls: Notices served on minister, SAPM for 'violating' election code of conduct

November 21, 2025 1:33

This collage of pictures show Federal Minister of Power Sardar Awais Ahmad Khan Leghari and Special Assistant to the Prime Minister Huzaifa Rehman. —APP/NA website/FileShow-cause notices have been issued to Minister for Power Sardar Awais Ahmad Khan Leghari and Special Assistant to the... [...]

27th Amendment empowers FCC to hear all constitutional cases: minister

November 20, 2025 7:59

Minister of State for Law and Justice Barrister Aqeel Malik addressing an event on December 21, 2024. — Facebook@BarristerAqeelMalikState Minister for Law Aqeel Malik said on Thursday that the 27th Amendment has vested authority to hear constitutional matters in the Federal Constitutional... [...]

JF-17 attracts strong attention at Dubai Airshow as friendly country inks procurement MoU

November 20, 2025 5:25

Pakistan Air Force JF-17 Thunder fighter jet during World Defence Air Show 2024 held in Riyadh, Saudi Arabia, February 7, 2024. — PPI Pakistan's JF-17 Thunder garnered significant attention at the Dubai Airshow 2025, leading to the signing of a memorandum of understanding with a... [...]

US lawmakers laud Punjab govt's initiative to modernise brick-kiln

November 20, 2025 4:39

Punjab Chief Minister Maryam Nawaz attends ceremony in this undated image. — Facebook/@MaryamNSharifISLAMABAD: The Congressional Pakistan Caucus has applauded Punjab’s drive to modernise its brick-kiln sector, saying the reforms could serve as a pilot for eliminating bonded labour and... [...]

Security forces gun down 30 terrorists in multiple IBOs in KP: ISPR

November 20, 2025 4:38

Frontier Constabulary and army personnel gather stand guard in Kurram, January 17, 2025. — AFPSecurity forces killed 30 Indian proxy Fitna al-Khawarij terrorists during multiple intelligence-based operations carried out by security forces in Khyber Pakhtunkhwa , the military's media wing... [...]

MQM-P calls for new province in Sindh

November 20, 2025 3:56

Muttahida Qaumi Movement-Pakistan Convener Khalid Maqbool Siddiqui addresses a press conference in Karachi, November 20, 2025. — Screengrab via YouTube/Geo NewsKARACHI: With discussions on the 28th Amendment gaining momentum, the Muttahida Qaumi Movement–Pakistan has once again... [...]

US report validates Pakistan military edge over India: PM

November 20, 2025 3:55

Prime Minister Shehbaz Sharif addresses ceremony in Azad Jammu and Kashmir on November 20, 2025. — X/@GovtofPakistanPrime Minister Shehbaz Sharif on Thursday said a recent US report endorsing Pakistan’s downing of Indian aircraft stands as formal validation of the country’s... [...]

Banned TTP poses serious threat to Pakistan security: UNSC panel

November 20, 2025 10:24

Denmark’s Deputy Permanent Representative to United Nations and chair of UNSC's ISIL, Al-Qaeda Sanctions Committee Sandra Jensen Landi. — Screengrab via UN WebTV websiteThe chair of the United Nations Security Council's Daesh and Al-Qaeda Sanctions Committee has cautioned that the... [...]

CM Afridi clarifies remarks on by-poll after ECP requests army deployment

November 20, 2025 10:01

Khyber Pakhtunkhwa Chief Minister Sohail Khan Afridi addresses a gathering at Havelian, Abbottabad on November 19, 2025. — Facbook@ImMuhammadSohailAfridiISLAMABAD: Khyber Pakhtunkhwa Chief Minister Sohail Afridi on Thursday issued a clarification concerning his remarks on the NA-18 by-poll,... [...]

Dubai sees 3.2m Pakistani passengers in 2025 as airport sets new milestone

November 20, 2025 6:16

People sit at a coffee shop as they wait for their flight at the Dubai International Airport, in Dubai, United Arab Emirates, April 17, 2024. — ReutersDUBAI: Dubai International Airport handled 3.2 million passengers travelling from Pakistan in the first nine months of 2025, making the... [...]

Security forces kill 23 Indian proxy terrorists in KP's Kurram

November 20, 2025 5:08

Security forces are seen taking position during an operation. — ISPR/FileRAWALPINDI: Amid country's ongoing fight against the menace of terrorism, security forces have neutralised 23 Indian proxy Fitna al-Khawarij terrorists in separate engagements in Khyber Pakhtunkhwa's Kurram... [...]

Pakistan to construct island to boost oil exploration: report

November 19, 2025 6:26

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas United States. — Reuters/FilePakistan's state-owned energy company, Pakistan Petroleum Limited , has announced plans for an artificial island to boost its oil exploration efforts.Islamabad has intensified its... [...]

Russia ready to mediate Pakistan's issues with India, Afghanistan: envoy

November 19, 2025 6:14

Russia's ambassador to Pakistan has extended his country's offer to mediate Islamabad's conflicts with India and Afghanistan, amid strained relations with its neighbouring countries.Islamabad's relations with India have remained tense since the four-day war in May, while the Afghan Taliban regime... [...]

Security forces neutralise four terrorists in KP IBOs

November 19, 2025 5:12

Soldiers ride on a Pakistan Army vehicle in this undated image. — AFP/FileFour terrorists affiliated with Indian proxy, Fitna al-Khawarij, were killed in a series of operations across Khyber Pakhtunkhwa from November 17 to 18, the Inter-Services Public Relations said on Wednesday.An... [...]

Reclassification of 41 candidates on reserved seats goes beyond SC mandate: Justice Mandokhail

November 19, 2025 4:38

Supreme Court's Justice Jamal Khan Mandokhail addresses an event related to Labour Day in Islamabad on May 1, 2025. — Screengrab/YouTube/Geo NewsISLAMABAD: Justice Jamal Khan Mandokhail has released a detailed dissent in the reserved seats case, stating that the ruling on 41 candidates... [...]

Canada citizenship applications surge as new rules attract record number of Americans

April 21, 2026 2:17

Canada is seeing a sharp rise in citizenship applications following changes to its citizenship laws, with Americans making up the largest share of new applicants.Data from Immigration, Refugees and Citizenship Canada shows nearly 8,900 proof of citizenship applications were received in January up... [...]

Germany summons Russian ambassador after 'threats' targeting firms linked to Ukraine

April 21, 2026 1:53

Germany has summoned Russia’s ambassador over what it described as “direct threats” against targets in the country, according to a statement from Berlin’s Federal Foreign Office.Officials said the threats are linked to Germany’s support for Ukraine in its ongoing war... [...]

Canada tax deadline is approaching: Here's how you could increase your refunds

April 21, 2026 1:30

With the Canada tax deadline approaching on April 30, experts say many taxpayers could be missing out on valuable claims that may increase their refunds.Jeet Dhillon, a senior portfolio manager at TD Wealth, told Global News, that filing taxes does not need to be stressful. “We tend to think... [...]

Lori Chavez-DeRemer resigns as Labor secretary amid misconduct probe and joins private sector

April 21, 2026 1:05

Lori Chavez-DeRemer has stepped down as US Labor secretary and will move to a role in the private sector, the White House confirmed.White House communications director Steven Cheung said in a statement, according to CNN: “Labor Secretary Lori Chavez-DeRemer will be leaving the Administration... [...]

Kash Patel sues The Atlantic for $250mn over report alleging misconduct and excessive drinking

April 21, 2026 12:41

FBI Director Kash Patel has filed a $250 million defamation lawsuit against The Atlantic and reporter Sarah Fitzpatrick over an article about his conduct in office.The lawsuit, filed in a US District Court in Washington, claims the report falsely portrayed Patel as unfit for his role. According to... [...]

Hungary's incoming leader PÃ©ter Magyar says Netanyahu would be arrested if he visits

April 21, 2026 12:22

Hungary’s incoming prime minister Péter Magyar has suggested that Israeli leader Benjamin Netanyahu could be arrested if he visits the country, citing obligations under the International Criminal Court.Speaking to reporters, Magyar said Hungary would be required to act if it remains... [...]

Trump says he is willing to meet Iran leaders as ceasefire deadline nears and tensions rise over nuclear talks

April 20, 2026 11:53

US President Donald Trump said on Monday that he is willing to meet senior Iranian leaders as uncertainty grows over stalled peace talks and a looming ceasefire deadline.Speaking to The Post, Trump said he remained open to direct discussions despite Iran signalling it may boycott the latest round... [...]

Breaking: One killed, several injured as gunman opens fire near Mexico's pyramids

April 20, 2026 7:54

Breaking: One killed, several injured as gunman fires at Mexico's PyramidsIn a tragic incident reported on April 20, a man shot a ‌Canadian woman dead and injured several others before killing himself on Monday at Mexico's Teotihuacan ⁠pyramids, a popular tourist... [...]

US new 'Tariff Refund System': Know how it works

April 20, 2026 7:23

US new 'Tariff Refund System': Know how it worksUS launches new tariff refund system as thousands of importers line up for long awaited change.The refund system set up to allow companies to recover illegally collected tariffs from the United States government has gone live as thousands of... [...]

Who Is Rumen Radev? Know every detail inside Bulgaria's biggest political shift

April 20, 2026 5:12

Who is Ramen Radev? Bulgaria's poised Prime MinisterRumen Radev’s Progressive Bulgaria coalition poised to win Sunday’s parliamentary elections with 44.6% of the vote, according to preliminary results released after 100% of protocols were processed by Bulgaria’s Central Election... [...]

Trump sends JD Vance to Pakistan for high-stakes Iran talks

April 20, 2026 2:51

Trump confirms JD Vance is heading to Iran for ceasefire talksPresident Donald Trump, a day after stating Vice President JD Vance would not go to Pakistan for high-stakes talks over Iran, now confirmed his potential successor is on the way to the South Asian country.“They’re... [...]

Savannah Guthrie fans react to PCSD social media post: 'Nancy has been located'

April 20, 2026 11:18

“I’m beginning to think Pima County Sheriff’s Department is actually a satirical organization."The fans and friends of Savannah Guthrie have reacted to Pima County Sheriff's Department social media as the search for her mother Nancy Guthrie continues in the third month of her... [...]

TfL tube strikes this week: Full dates, affected lines and travel chaos explained

April 20, 2026 11:15

TfL tube strikes this week: Full dates, affected lines and travel chaos explained London commuters and visitors are bracing for looming travel chaos as TfL tube strikes will go ahead this week. As per The Rail, Maritime and Transport union confirmation, its members will go on strike from... [...]

Japan tsunami warning issued after earthquake: Iwate, Hokkaido & Aomori on high alert

April 20, 2026 9:40

Japan tsunami warning issued after earthquake: Iwate, Hokkaido & Aomori on high alert A powerful earthquake has struck off Northern Japan at a depth of 10km, sending tremors hundreds of miles away, reaching as far as the capital, Tokyo. According to the Japan Meteorological Agency, the... [...]

UK economy on brink of recession as Middle East crisis puts 250,000 jobs at risk

April 20, 2026 9:03

UK economy on brink of recession as Middle East crisis puts 250,000 jobs at riskThe UK is reeling from the growing threat of an upcoming recession in the midst of turbulent geopolitical landscape and energy shocks driven by US-Iran conflict. According to the report prepared by the EY Item Club, in... [...]

اسلام آباد، راولپنڈی میں سیکیورٹی ہائی الرٹ، سرکاری ملازمین کا آج ورک فرام ہوم

April 21, 2026 12:04

اسلام آباد اور راولپنڈی میں سیکیورٹی ہائی الرٹ، پاک فوج، رینجرز، اسلام آباد اور پنجاب پولیس تعینات، اسلام آباد میں ریڈ زون ہر قسم... [...]

کراچی: شارع فیصل میٹرو پول کے قریب فائرنگ، ڈاکٹر قتل

April 20, 2026 10:04

—فائل فوٹوکراچی میں شارع فیصل میٹرو پول ہوٹل کے قریب فائرنگ سے ڈاکٹر کے قتل کا واقعہ پیش آیا۔ڈی آئی جی ساؤتھ کے مطابق جاں بحق ہونے... [...]

نواز شریف کی زیرصدارت پارلیمانی بورڈ اجلاس، جی بی الیکشن کے لیے امیدواروں پر مشاورت

April 20, 2026 9:04

گلگت بلتستان کے عام انتخابات کے لیے پارٹی امیدواروں کے ناموں پر مشاورت کے لیے مسلم لیگ ن کے پارلیمانی بورڈ کا اجلاس ہوا۔مسلم لیگ ن کے... [...]

میئر کراچی کا رات گئے شہر کے مختلف علاقوں کا دورہ

April 20, 2026 9:04

میئر کراچی بیرسٹر مرتضیٰ وہاب کا رات گئے شہر کے مختلف علاقوں کا دورہ، جون تک جاری تمام جاری ترقیاتی کاموں کو مکمل کرنے کا اعلان... [...]

وزیراعظم کو صدر یورپی کونسل کا فون، مشرق وسطیٰ کی صورتحال پر گفتگو

April 20, 2026 8:04

وزیراعظم شہباز شریف کو یورپی کونسل کے صدر انتونیو کوسٹا نے ٹیلی فون کیا، اس موقع پر دونوں رہنماؤں نے مشرق وسطیٰ کی موجودہ صورتِ حال... [...]

ریڈ زون میں تمام اداروں کے دفاتر 21 اپریل کو ورک فرام ہوم کریں گے

April 20, 2026 6:04

کابینہ ڈویژن نے ریڈ زون میں واقع تمام وزارتوں، ڈویژنز اور وفاقی اداروں کے دفاتر سے متعلق اہم نوٹیفکیشن جاری کردیا ہے۔نوٹیفکیشن کے... [...]

ریڈ زون کی بندش، وفاقی آئینی عدالت میں 21 اپریل کو کام معطل رہیگا

April 20, 2026 6:04

وفاقی آئینی عدالت میں 21 اپریل کو عدالتی کام معطل رہے گا۔ وفاقی آئینی عدالت کے اعلامیہ کے مطابق ریڈ زون کی بندش کے باعث اسلام آباد میں... [...]

کے پی اسمبلی اجلاس پہلی بار اسمبلی سے باہر پشاور اسٹیڈیم میں بلانے کا فیصلہ

April 20, 2026 5:04

خیبر پختونخوا اسمبلی کا اجلاس پہلی بار اسمبلی احاطے سے باہر بلانے کا فیصلہ کیا گیا ہے۔ صوبائی اسمبلی کا اجلاس 22 اپریل کو سہ پہر 3 بجے... [...]

ہرمز ناکہ بندی خاتمے کے بغیر مذاکرات مشکل ہیں، سفارتی و دفاعی ماہرین

April 20, 2026 5:04

فائل فوٹوسفارتی اور دفاعی ماہرین نے ہرمز کی ناکہ بندی کے خاتمے کے بغیر مذاکرات کو مشکل قرار دیدیا۔جیو نیوز کے پروگرام کیپٹل ٹاک میں... [...]

الیکشن کمیشن نے پی ایس پی کی رجسٹریشن ختم کردی

April 20, 2026 5:04

الیکشن کمیشن آف پاکستان نے مصطفیٰ کمال کی سیاسی جماعت کی رجسٹریشن ختم کردی۔ای سی پی نے پاک سرزمین پارٹی کو ڈی لسٹ کرنے کا نوٹیفکیشن... [...]

بس کی موٹرسائیکل کو ٹکر، پیپر دے کر آنے والی طالبہ جاں بحق، ماں اور دوست زخمی

April 20, 2026 4:04

قصور کے قصبے کوٹ رادھا کشن میں کوسٹر کی ٹکر سے موٹرسائیکل سوار طالبہ جاں بحق جبکہ اس کی والدہ اور سہیلی زخمی ہو گئیں، دونوں زخمیوں کو ... [...]

اوچ شریف: مبینہ طور پر فوڈ پوائزننگ سے دو کمسن بچے اور والد جاں بحق

April 20, 2026 4:04

بہاولپور کی تحصیل اوچ شریف میں مبینہ طور پر فوڈ پوائزننگ سے دو کمسن بچے اور ان کا والد جاں بحق ہوگیا۔ جبکہ 2 سالہ تیسرا بچہ اسپتال میں... [...]

وزیراعلیٰ سندھ نے فی ایکڑ 5 بوری کی شرط ختم کردی

April 20, 2026 3:04

تصویر، سوشل میڈیاوزیراعلیٰ سندھ سید مراد علی شاہ نے گندم کی فروخت کی حد ختم کرنے کا فیصلہ کرلیا۔وزیراعلیٰ کی زیر صدارت گندم کی... [...]

وزیر خارجہ اسحاق ڈار کا ایرانی ہم منصب عباس عراقچی سے ٹیلیفونک رابطہ

April 20, 2026 2:04

فائل فوٹونائب وزیراعظم اور وزیر خارجہ سینیٹر اسحاق ڈار کا ایرانی وزیر خارجہ عباس عراقچی سے ٹیلیفونک رابطہ ہوا ہے۔ مذاکرات میں... [...]

ایئر ایمبولینس سروس کے اخراجات سے متعلق رپورٹ پنجاب اسمبلی میں جمع

April 20, 2026 1:04

فائل فوٹو۔پنجاب حکومت نے ایئر ایمبولینس سروس کے اخراجات سے متعلق مریضوں کی منتقلی کے حوالے سے رپورٹ پنجاب اسمبلی میں جمع کرا... [...]

ٹرمپ امریکا کو تباہ کن ڈیل میں نہیں دھکیلیں گے، وائٹ ہاؤس

April 21, 2026 2:04

فائل فوٹووائٹ ہاؤس نے کہا ہے کہ صدر ڈونلڈ ٹرمپ امریکا کو ایران کے ساتھ ایک اور تباہ کن ڈیل میں نہیں دھکیلیں گے۔وائٹ ہاؤس کا کہنا ہے... [...]

ایران: حکومت کے حق میں مظاہرے، اسلحہ بردار خواتین بھی سامنے آگئیں

April 21, 2026 12:04

تصاویر، بشکریہ سوشل میڈیاجنگ بندی ختم ہونے کی تاریخ قریب آنے کے ساتھ ہی ایران میں حکومت کے حق میں مظاہروں میں تیزی آگئی، مظاہروں... [...]

امریکا کے نائب صدر ایران سے مذاکرات کے لیے پاکستان روانہ نہیں ہوئے، خبر ایجنسی

April 21, 2026 12:04

امریکا کے نائب صدر جے ڈی وینس ایران سے مذاکرات کے لیے تاحال پاکستان روانہ نہیں ہوئے۔یہ بات برطانوی خبرایجنسی نے ذرائع کے حوالے سے... [...]

امریکی وزیر محنت لوری شاویز ڈریمر کا مستعفی ہونے کا فیصلہ

April 20, 2026 11:04

امریکی وزیر محنت لوری شاویز ڈریمر—تصویر بشکریہ غیر ملکی میڈیاامریکی وزیرِ محنت لوری شاویز ڈریمر نے مستعفی ہونے کا فیصلہ کرلیا۔وائٹ... [...]

دھمکیوں کے ساتھ مذاکرات قبول نہیں، قالیباف

April 20, 2026 10:04

ایرانی پارلیمنٹ کے اسپیکر باقر قالیباف—فائل فوٹوایرانی پارلیمنٹ کے اسپیکر باقر قالیباف نے کہا ہے کہ ہمیں دھمکیوں کے ساتھ مذاکرات... [...]

لبنان اور اسرائیل کے مذاکرات جمعرات کو واشنگٹن میں ہوں گے، امریکی محکمہ خارجہ

April 20, 2026 7:04

—فائل فوٹوامریکی محکمہ خارجہ کا کہنا ہے کہ لبنان اور اسرائیل کے مذاکرات جمعرات کو واشنگٹن میں ہوں گے۔غیرملکی میڈیا کے مطابق امریکی... [...]

نیتن یاہو سے یونیورسٹی پر بم گرانے کا مطالبہ کرنے پر امریکی طالبہ گرفتار

April 20, 2026 6:04

فائل فوٹوز اسرائیلی وزیراعظم نیتن یاہو سے یونیورسٹی پر بم گرانے کا مطالبہ کرنے پر امریکی طالبہ کو گرفتار کرلیا گیا۔امریکی ریاست... [...]

ایران سے ہمارا معاہدہ اوباما دور کے معاہدے سے بہتر ہوگا، ٹرمپ

April 20, 2026 5:04

قایران کا جوہری ہتھیارتک پہنچنا ہمارے زیرِ غور نئے معاہدے کے ساتھ نہ ہوگا اور نہ ہی ہو سکتا ہے، ڈونلڈ ٹرمپ - فوٹو: فائلامریکی صدر... [...]

برازیلین خاتون ٹرائی ایتھلیٹ آئرن مین مقابلے میں ڈوب کر ہلاک، آخری پوسٹ سامنے آگئی

April 20, 2026 5:04

فوٹوز: امریکی میڈیا ٹیکساس میں ہونے والے آئرن مین ٹرائی ایتھلون مقابلے کے دوران برازیل سے تعلق رکھنے والی معروف ایتھلیٹ اور سوشل... [...]

ایرانی وفد کل اسلام آباد آنے کیلئے منصوبہ بندی کر رہا ہے، امریکی اخبار

April 20, 2026 5:04

امریکی اخبار کا کہنا ہے کہ ایرانی وفد کل اسلام آباد آنے کے لیے منصوبہ بندی کر رہا ہے۔اخبار نے دعویٰ کیا کہ امریکی وفد سے مذاکرات... [...]

برطانیہ کی 12 جامعات نے فلسطین کے حامی طلبہ اور اساتذہ کی ’جاسوسی‘ کروائی

April 20, 2026 5:04

فوٹو: الجزیرہ عرب میڈیا کے مطابق آکسفورڈ سمیت برطانیہ کی 12 یونیورسٹیز نے فلسطین کے حامی طلبہ اور اساتذہ کی 'جاسوسی' کے لیے سیکیورٹی... [...]

ٹرمپ بدستور پوپ لیو سے ناراض

April 20, 2026 5:04

امریکی صدر ڈونلڈ ٹرمپ بدستور کیتھولک مسیحیوں کے روحانی پیشوا پوپ لیو سے ناراض ہیں۔پوپ لیو کے ایک بیان ’یسوع مسیح جنگیں برپا کرنے... [...]

مذاکرات میں ایران سے کیا چاہتے ہیں؟ ٹرمپ نے جواب دے دیا

April 20, 2026 4:04

تصویر، امریکی میڈیاامریکی صدر ڈونلڈ ٹرمپ اسلام آباد مذاکرات میں ایران سے کیا چاہتے ہیں؟ جواب دے دیا۔پی بی ایس نیوز کو دیے گئے... [...]

جیفری ایپسٹین کے ساتھی کو امریکا میں سفیر لگانے کا معاملہ، برطانوی وزیراعظم مشکل میں پڑگئے

April 20, 2026 4:04

تصویر سوشل میڈیا۔میڈیا رپورٹ جانچ کے طریقہ کار میں ناکامی کے باوجود پیٹر مینڈلسن کو امریکا میں سفیر تعینات کرنے کے معاملے نے... [...]

امریکا پر تاریخی عدم اعتماد مذاکرات کی راہ میں بڑی رکاوٹ ہیں، ایرانی صدر پزشکیان

April 20, 2026 3:04

ایرانی صدر مسعود پزشکیان : فوٹو ایرانی میڈیا ایرانی صدر مسعود پزشکیان کا کہنا ہے کہ بامعنی مذاکرات کے لیے وعدوں کی پاسداری پہلی... [...]

برینٹ تیل پھر مہنگا، 96 ڈالر فی بیرل ہوگیا

April 20, 2026 8:04

تیل کی عالمی قیمتوں میں پھر اضافہ ہوگیا، برینٹ کروڈ کی قیمت چھ فی صد بڑھ کر 96 ڈالر فی بیرل سے تجاوز کرگئی۔ماہرین کے مطابق آبنائے ہرمز... [...]

پاکستان نے یورو بانڈ کا حجم بڑھا کر 75 کروڑ ڈالر کردیا

April 20, 2026 1:04

تصویر، سوشل میڈیاوزارت خزانہ نے تصدیق کی ہے کہ پاکستان نے یورو بانڈ کا حجم بڑھا کر 75 کروڑ ڈالر دیا ہے۔وزارت خزانہ کے مطابق پاکستان کو... [...]

سونے کی فی تولہ قیمت میں 4900 روپے کی کمی

April 20, 2026 12:04

فائل فوٹو ملک میں سونے کی فی تولہ قیمت میں ہزاروں روپے کمی ہوگئی۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی ایشن کے مطابق 4900 روپے کی... [...]

پاکستان اسٹاک ایکسچینج میں ملا جلا رجحان

April 20, 2026 5:04

---فائل فوٹوپاکستان اسٹاک ایکسچینج میں کاروباری ہفتے کے پہلے روز آج ملا جلا رجحان دیکھا جا رہا ہے۔بازارِ حصص میں کاروبار کے دوران 100... [...]

پاکستان میں موبائل فونز کی درآمدات میں بڑا اضافہ

April 19, 2026 8:04

---فائل فوٹوادارہ شماریات کے دستاویز کے مطابق پاکستان میں گزشتہ 9 ماہ کے دوران موبائل فونز کی درآمدات میں نمایاں اضافہ ریکارڈ ہوا... [...]

پہلی ششماہی میں معیشت کی ترقی رفتار 3 اعشاریہ 8 فیصد ہے، جمیل احمد

April 18, 2026 4:04

گورنر اسٹیٹ بینک آف پاکستان جمیل احمد نے کہا ہے کہ پہلی ششماہی میں معیشت کی ترقی کی رفتار 3 اعشاریہ 8 فیصد تک پہنچ گئی۔ایس بی پی... [...]

پاکستان میں غیرملکی سرمایہ کاروں کی کمپنی رجسٹریشن میں اضافہ

April 18, 2026 3:04

پاکستان میں غیر ملکی سرمایہ کاروں کی کمپنی رجسٹریشن میں اضافہ ہوگیا ہے۔ سیکیورٹیز اینڈ ایکسچینج کمیشن پاکستان کے مطابق کارپوریٹ... [...]

تاجر برادری کا دکانوں کے اوقات کار رات 10 بجے تک بڑھانے کا مطالبہ

April 18, 2026 3:04

تاجر برادری نے دکانوں کے اوقات کار رات 10 بجے تک بڑھانے اور بلوچستان کے گیس ذخائر استعمال کرنے کا مطالبہ کردیا۔ فیڈریشن ہاؤس میں ... [...]

پاکستان نے عالمی ادائیگیاں وقت پر کیں، زرمبادلہ ذخائر پر زیادہ اثر نہیں ہونے دیا

April 18, 2026 2:04

فائل فوٹو پاکستان نے گذشتہ ہفتے اپنی عالمی ادائیگیاں وقت پر کیں اور بروقت وصولیوں سے زرمبادلہ ذخائر پر زیادہ اثر بھی نہیں ہونے دیا۔... [...]

پاکستان میں سونے کی قیمت میں اضافہ

April 18, 2026 10:04

— فائل فوٹوپاکستان میں آج سونے کی قیمت میں اضافہ ہوا ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی ایشن کے مطابق فی تولہ سونے کی قیمت... [...]

پاکستان اسٹاک ایکسچینج: کاروباری ہفتے میں مثبت رجحان رہا، 6747 پوائنٹس کا اضافہ

April 18, 2026 6:04

—فائل فوٹوپاکستان اسٹاک ایکسچینج کی ہفتہ وار اپ ڈیٹ سامنے آ گئی، پاکستان اسٹاک ایکسچینج میں اس کاروباری ہفتے میں مثبت رجحان... [...]

ہرمز کھلنے کے بعد خام تیل 13 فیصد سستا، اسٹاک مارکیٹوں میں تیزی

April 17, 2026 1:04

فائل فوٹوآبنائے ہرمز کھلنے کی خبر سامنے آتے ہی خام تیل کی قیمت 13 فیصد کم ہوگئی۔عرب میڈیا کی رپورٹ کے مطابق ایرانی وزیر خارجہ کے... [...]

پاکستان اور عالمی بازار میں سونے کی قیمت میں کمی

April 17, 2026 10:04

— فائل فوٹوپاکستانی صرافہ مارکیٹوں اور عالمی گولڈ بازار میں سونے کی قیمت میں کمی ہوئی ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی... [...]

پیٹرولیم مصنوعات کی قیمتوں میں کمی کے اثرات، مہنگائی میں 0.69 فیصد کمی

April 17, 2026 8:04

---فائل فوٹو ملک میں ڈیزل اور پیٹرول کی قیمتوں میں حالیہ کمی کے اثرات سامنے آنا شروع ہو گئے، ہفتہ وار مہنگائی میں 0.69 فیصد کمی ریکارڈ کی... [...]

بجلی مزید مہنگی کرنے کی درخواست: فی یونٹ 27 پیسے اضافے کا امکان

April 17, 2026 5:04

---فائل فوٹوسینٹرل پاور پرچیزنگ ایجنسی نے کراچی سمیت ملک بھر کے صارفین کے لیے بجلی 27 پیسے فی یونٹ مہنگی کرنے کی درخواست دائر کر دی۔سی... [...]

Do I earn too much to contribute to an IRA?

April 21, 2026 2:36

You may not be eligible — here are your options. [...]

Bonds could lag stocks for the rest of 2026, according to this contrarian signal

April 21, 2026 1:46

Record bond-fund inflows are a warning sign that lower returns are ahead. [...]

Okta’s stock is surging. Here’s why identity security has become the next hot thing.

April 21, 2026 1:22

Barclays turned bullish on Okta just days after Raymond James did, as customers are reinvigorating investment into identity security for the first time in years. [...]

Anthropic has ‘unprecedented’ demand — and it’s leaning on Amazon for support

April 21, 2026 12:43

Amazon is investing another $5 billion in the maker of Claude. [...]

Apple CEO Tim Cook to step down after overseeing 1,900% stock surge. His successor faces big challenges.

April 21, 2026 12:43

John Ternus is expected to usher in a renewed focus on hardware as Apple positions itself for the age of AI. [...]

‘I hope to retire at 59’: I have $950,000 in my 401(k)s. When do I do a Roth conversion?

April 20, 2026 11:00

Roth conversions are permanent. Once done, they cannot be undone. [...]

This AI power company ousted its CEO. Why that could help it sign up its first customer.

April 20, 2026 9:49

Shares of Fermi, which was co-founded by Rick Perry, a former U.S. secretary of energy, were tumbling Monday after the surprise disclosure that its CEO was giving up that role. Some analysts say that could actually be good news. [...]

AST SpaceMobile’s stock falls after failure of Jeff Bezos-backed satellite launch

April 20, 2026 9:47