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Major Gulf bourses ease on investor caution, Fed rate-hike bets

June 23, 2026 3:31

Most Gulf equity markets closed lower on Tuesday as investors grew cautious amid progress in U.S.-Iran talks and mounting expectations that the Federal Reserve could take a more aggressive stance against inflation later this year. The United States’ waiver on Monday allows Iran to sell oil for 60 days as part of a fledgling peace deal to end the hostilities in the Middle East, triggering a more than 3% drop in oil prices, a catalyst for the Gulf’s financial markets. U.S. Vice President JD Vance said progress had been made in talks with Iran and that the Strait of Hormuz was open. On Tuesday, Brent crude futures were down 26 cents, or around 0.3%, at $77.64 a barrel. Saudi Arabia’s benchmark index dropped 0.4%, hit by a 1.3% fall in petrochemical maker Saudi Basic Industries Corp. Oil major Saudi Aramco was down 0.2%. The Qatari index was down 0.4%, with Industries Qatar losing 1%. Investors are watching the diplomatic process closely, with any sign of progress likely to lift sentiment across GCC markets, said George Pavel, general manager at Naga. Regional equities may also remain driven by oil-market moves with softer crude prices possibly weighing on stocks, though a rebound in Strait of Hormuz shipping and energy exports may help limit the downside, he said, adding that markets would stay alert to further developments in the talks and their impact on traffic recovery. Dubai’s main share index retreated 1.3%, dragged down by a 2.3% slide in blue-chip developer Emaar Properties . In Abu Dhabi, the index lost 0.1%. Also adding to the market pressure globally are increased expectations the Fed might accelerate its rate-hike schedule under the leadership of new Chair Kevin Warsh. Fed funds futures are pricing an implied 54% probability of at least two 25-basis-point hikes before the end of the year, compared with a 15.2% chance a week ago, according to the CME Group’s FedWatch tool. Gulf markets tend to track shifts in U.S. monetary policy expectations as most regional currencies are pegged to the dollar. Outside the Gulf, Egypt’s blue-chip index declined 1.6%. Saudi Arabia fell 0.4% to 11,034 Abu Dhabi eased 0.1% to 10,025 Dubai retreated 1.3% to 6,105 Qatar down 0.4% to 10,409 Egypt dropped 1.6% to 51,770 Bahrain added 0.3% to 2,036 Oman declined 1.2% to 7,320 Kuwait lost 0.4% to 9,160 [...]

Wall St tumbles on tech selloff as concerns about hawkish Fed, AI spending mount

June 23, 2026 3:03

The Nasdaq and the S&P 500 fell to over one-week lows on Tuesday, dragged down by sharp losses in semiconductor stocks as investors braced for a more hawkish Federal Reserve and scrutinized growing debt-funded AI spending. If losses hold, the Nasdaq 100 would lose over $1 trillion in market value. Nvidia fell 3%, Alphabet shed 1.2%, and chipmakers Intel, Marvell Technology and Advanced Micro Devices fell between 6.2% and 8.7%. Memory chipmakers Micron Technology and SanDisk , among the best performers on the S&P 500 this year, slumped 12% and 13%, respectively. The Philadelphia SE Semiconductor index tumbled 7.3%, while the S&P 500 tech sector index shed 3.2%. A sharp selloff in the previous session rocked U.S. tech heavyweights, driven by doubts over hyperscalers’ debt-backed AI spending despite stretched valuations. “The AI trade became one of the most crowded trades in global markets. When everybody owns the same stocks, the exit door becomes very small very quickly,” said Nigel Green, chief executive of investment adviser deVere Group. At 09:35 a.m. ET, the Dow Jones Industrial Average fell 395.32 points, or 0.76%, to 51,317.39, the S&P 500 lost 114.96 points, or 1.54%, to 7,357.83 and the Nasdaq Composite lost 533.73 points, or 2.04%, to 25,632.87. The rate-sensitive Russell 2000 index fell 1.7%. The CBOE Volatility Index, Wall Street’s fear gauge, hit an over one-week high, climbing 2.92 points to 20.13. S&P 500, Nasdaq fall as megacap tech drags Four of 11 major S&P 500 sectors moved higher, with consumer staples rising the most at 1.2%. With highly priced tech shares coming under pressure recently, investors have shifted focus to other areas of the market. Heavily battered software shares also gained with ServiceNow and Atlassian up 2.5% each, while Adobe and Salesforce added 1.4% and 1.2%, respectively, following Monday’s losses. Shares of Elon Musk’s SpaceX fell 4.8%. More than $600 billion was wiped off the company’s market value over the past three sessions. SpaceX, which debuted earlier this month, joined a list of megacaps to tap the bond market to raise capital. “SpaceX is not yet part of the Nasdaq indexes, but the fact that it is jumping on the bond train to fund excessive AI and infrastructure spending revives earlier concerns that Big Tech may be spending too much on AI infrastructure and increasingly financing that spending through debt,” said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. Traders are increasingly betting on a second interest rate hike by the U.S. Fed by December, according to LSEG data, compared to expectations of just one 25-basis-point hike two weeks ago, as investors price in hawkish monetary policy under new Chair Kevin Warsh. The S&P 500 is heading for its strongest quarterly gain in six years, buoyed by a Middle East ceasefire and stronger-than-expected earnings, even as concerns over stretched AI stock valuations resurface. Micron’s results, expected on Wednesday, could offer some clues on the outlook for the memory and AI chip sector after a searing rally this year. Investors are keeping a close eye on developments in the Middle East after the U.S. waived sanctions on Iran for 60 days after the first round of talks under a nascent peace deal. The focus this week will be on the closely watched Personal Consumption Expenditures Index data, the Federal Reserve’s preferred inflation gauge. The data is expected on Thursday. Declining issues outnumbered advancers by a 2.12-to-1 ratio on the NYSE and by a 1.65-to-1 ratio on the Nasdaq. The S&P 500 posted two new 52-week highs and three new lows, while the Nasdaq Composite recorded 19 new highs and 95 new lows. [...]

Rupee registers gain against US dollar

June 23, 2026 2:55

PKR vs USD Exchange Rate Chart @import url('https://fonts.googleapis.com/css2?family=Plus+Jakarta+Sans:wght=400;500;600;700&display=swap'); /* Highly Isolated Wrapper Stylesheet All selectors are prefixed with #pkr-chart-embed to ensure absolutely zero style bleeding into your parent website. */ #pkr-chart-embed { font-family: 'Plus Jakarta Sans', -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, sans-serif; max-width: 1000px; width: 100%; margin: 24px auto; background-color: #ffffff; /* Premium Light Mode Background */ border: 1px solid #e2e8f0; /* Soft Slate 200 Border */ border-radius: 20px; padding: 24px; box-shadow: 0 10px 25px -5px rgba(15, 23, 42, 0.05), 0 8px 10px -6px rgba(15, 23, 42, 0.05); color: #0f172a; /* Slate 900 Text */ box-sizing: border-box; text-align: left; } #pkr-chart-embed * { box-sizing: border-box; margin: 0; padding: 0; } /* Adaptive Header */ #pkr-chart-embed class-header, #pkr-chart-embed .chart-header { display: flex; flex-direction: row; justify-content: space-between; 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} } } }, scales: { x: { grid: { color: 'rgba(226, 232, 240, 0.8)', /* Slate 200 light grid lines */ drawTicks: false }, ticks: { color: '#64748b', /* Slate 500 */ maxTicksLimit: window.innerWidth < 640 ? 5 : 10, font: { family: 'Plus Jakarta Sans', size: window.innerWidth < 640 ? 9 : 11 } } }, y: { grid: { color: 'rgba(226, 232, 240, 0.8)', drawTicks: false }, ticks: { color: '#64748b', font: { family: 'Plus Jakarta Sans', size: window.innerWidth { const chart = Chart.getChart("closingRatesChart"); if (chart) { const isMobile = window.innerWidth < 640; chart.options.scales.x.ticks.maxTicksLimit = isMobile ? 5 : 10; chart.options.scales.x.ticks.font.size = isMobile ? 9 : 11; chart.options.scales.y.ticks.font.size = isMobile ? 9 : 11; chart.update(); } }); })(); The Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Tuesday. At close, the local currency settled at 278.21, a gain of Re0.01 against the greenback. On Monday, the local unit closed at 278.22. Meanwhile, the US dollar held firm on Tuesday as traders positioned for a more hawkish Federal Reserve and oil prices rebounded following steep losses, while the yen flirted with a four-decade low. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was a shade higher at 101.01, not far from the one-year high of 101.13 hit late last week. “The dollar is holding firm on rising yields and hawkish Fed bets,” with limited guidance from the Fed fuelling ⁠volatility,” said Sim Moh Siong, FX strategist at OCBC. The bank now expects a modestly stronger dollar amid rising risks for tighter US monetary policy, revising a previous call for the currency to be rangebound, he added. Oil prices fell more than a $1 on Tuesday as investors monitored crude flows through the Strait of Hormuz amid signs of progress in US-Iran peace talks. Brent crude futures declined $1.18, or around 1.2%, to $76.72 a barrel while US West Texas Intermediate fell $1.18, or 1.6%, to $72.68 a barrel by 10:06 a.m. ET (1406 GMT), after earlier dropping to a near four-month low of $72.48. Inter-bank market rates for dollar on Tuesday BID Rs 278.21 OFFER Rs 278.41 Open-market movement In the open market, the PKR gained 4 paise for buying and remained unchanged for selling against USD, closing at 278.63 and 279.46, respectively. Against Euro, the PKR gained 85 paise for buying and 55 paise for selling, closing at 318.52 and 322.33, respectively. Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 75.92 and 76.55, respectively. Against Saudi Riyal, the PKR gained 4 paise for buying and lost 1 paisa for selling, closing at 74.24 and 74.87, respectively. Open-market rates for dollar on Tuesday BID Rs 278.63 OFFER Rs 279.46 [...]

Oil slide anchors India 10-year yield at 3-month low

June 23, 2026 2:40

MUMBAI: Indian government bond yields edged lower on Tuesday, with the 10-year yield settling at a three-month low, as oil prices cooled further. Market anxiety connected to the U.S.-Iran war receded as peace talks progressed and Brent crude futures consolidated at $77.8 per barrel, after easing more than 3% in the previous session. The yield on the benchmark 6.94% 2036 note closed at 6.8364%, versus 6.8473% on Monday. “Bonds are likely to trade in a tight 6.82%-6.86% range during the holiday-shortened week,” a private-bank trader said. Indian markets are shut on Friday for a local holiday. Bloomberg Index Services is expected to decide this month whether to include Indian bonds in its Global Aggregate Index. Inclusion would complement the Reserve Bank of India’s recent efforts to attract foreign inflows and bolster the rupee. Canada’s Fairfax buys nearly $1 billion of Indian bonds in rare move, sources say The Indian rupee is still down over 4% versus the dollar since the U.S.-Israeli war with Iran began, after recovering about 1% since the RBI unveiled its measures to draw inflows. Foreign investors have bought nearly 224 billion rupees of bonds in June. More inflows are expected this week, with Indian lenders set to price $1.5 billion in bond issues, including Power Finance Corp’s $300 million five-year dollar bond priced earlier in the day. Also looming are El Niño risks, clouding India’s inflation and growth outlook. “Monsoon rains have languished after a slow start, with rainfall deficit widening to 42% as of June 21,” economists at Barclays wrote in a note. Rates India’s overnight index swap rates extended their slide as overseas investors unwound paying bets. The one-year rate fell 2 bps to 5.8450%, while the two-year rate eased 2.75 bps to 5.9950%. The five-year rate was down 5.25 bps at 6.2575%. [...]

India's LPG imports from US set to cross 1 million tons in June, sources say

June 23, 2026 2:12

NEW DELHI: India’s imports of liquefied petroleum gas (LPG) from the U.S. are set to top 1 million metric tons in June, a record high, industry sources said, as New Delhi turned to costlier suppliers to offset disruption from the Middle East. Before the U.S.-Israeli war on Iran and the closure of the Strait of Hormuz, India depended on Middle Eastern producers for 90% of its LPG imports, which totalled about 2 million tons per month. Imports of LPG, widely used as cooking fuel in Indian households, declined to as low as 696,000 tons in April because of the strait blockade, government data showed. The imports, however, recovered to 1.15 million tons in May, the data showed. Before the disruption, New Delhi had planned to raise U.S.LPG purchases to about 10% of total imports as part of its effort to rebalance trade with Washington. Indian jet fuel exports to Europe heading back to 2025 levels, data shows The closure of the waterway accelerated spot buying from the U.S., with Indian refiners purchasing unprecedented volumes at hefty spot market premiums as the government’s priority was to maintain uninterrupted cooking gas supplies, said a trade source who is aware of the purchases. The sources declined to be named publicly as they are not authorised to speak to the media. India also asked refiners to maximise LPG output, prioritised LPG sales to households and accelerated the rollout of piped gas connections. The efforts have already started to reduce India’s LPG consumption by 15% to 20%, one of the sources said. India is on track to receive about 1.1 million to 1.2 million tons of U.S. LPG in June, while supplies from the United Arab Emirates have started to recover to around 300,000 to 400,000 tons this month, two sources at Indian refiners said. The UAE offered LPG cargoes loaded from Oman’s Sohar port on a free-on-board basis at a premium of about $100 per ton to Saudi CP prices, the sources said, adding that Abu Dhabi National Oil Co deployed four to five vessels that get LPG up to Sohar port. India Oil Corp seeks gas, oil tankers to lift cargoes from Gulf, documents show Indian refiners will also be getting about 45,000 tons of LPG from Kuwait in June, the sources said. The partial opening of the strait will improve LPG supplies from the Middle East in the coming months, which will help to reduce prices, the sources added. India imported 648,300 tons of LPG from the U.S. and 134,700 tons from the UAE in May, according to Kpler data. Imports from Iran, mainly by small players with negligible links to the U.S., stood at 145,000 tons, while shipments from other traditional suppliers, including Saudi Arabia, Oman and Qatar, remained limited, Kpler’s data show. Kpler’s preliminary June data indicate India is scheduled to import about 1.07 million tons of LPG from the U.S., around 223,800 from the UAE, 116,200 tons from Iran and 108,600 tons from Kuwait, with some volumes expected from Oman, Saudi Arabia, Algeria, Qatar and Nigeria. [...]

Gold price per tola drops by Rs10,400 in Pakistan

June 23, 2026 2:11

Gold prices in Pakistan decreased on Tuesday in line with their loss in the international market. In the local market, gold price per tola reached Rs432,236 after a decline of Rs10,400 during the day. Similarly, 10-gram gold was sold at Rs368,985 after it fell by Rs9,360, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Monday, gold price per tola reached Rs442,636 after a gain of Rs4,643 during the day. The international rate of gold declined by $104 to reach $4,098 per ounce (with a premium of $20). Meanwhile, the price of silver also decreased by Rs487 to reach Rs6,664 per tola. [...]

India's PFC becomes first non-bank lender to tap dollar debt after RBI subsidy, bankers say

June 23, 2026 1:45

MUMBAI: India’s state-run Power Finance Corp has accepted bids worth $300 million for a five-year dollar bond issue, becoming the first non-bank lender to tap the central bank’s subsidised hedging facility for overseas borrowings, three bankers said. The bonds were priced at a spread of 105 basis points over U.S. Treasuries, giving a yield of 5.327%, well inside the initial guidance of 130 basis points, indicating strong investor demand. “The company chose to accept a lower quantum as this was their first tranche, but they could explore this route again when treasury yields ease,” one of the bankers said on Tuesday. Earlier, PFC had told bankers that it intended to raise $500 million, but ultimately settled for a smaller amount, as bankers said the spread would have widened had it pursued the full quantum. The bankers requested anonymity as they are not authorized to speak to media, while PFC did not reply to a Reuters email seeking comment. Indian financial firms to tap $1.5 billion overseas bonds this week, bankers say This comes after India’s top private lender, HDFC Bank sold $750 million of five-year dollar bonds last week at a spread of about 90 basis points over U.S. Treasuries. Earlier this month, the RBI said external commercial borrowings by banks and state-run companies would qualify for a subsidised hedging facility, helping cut the cost of managing currency risk. The step forms part of a wider RBI push to draw in dollar inflows and bolster the rupee. Lenders Bank of Baroda and Axis Bank have finalised bankers for their planned dollar bond sales, and may set the pricing on them before the end of the week. [...]

Healthcare stocks lift Sri Lankan shares higher

June 23, 2026 1:27

Sri Lankan shares closed higher on Tuesday, driven mainly by healthcare stocks. The CSE All-Share index settled marginally higher at 22,256.49 points. SMB Leasing PLC and Bogala Graphite Lanka were the top percentage gainers on the index, up 33.3% and 10.5%, respectively, on the day. Trading volume on the index slightly rose to 65.1 million shares from 44.3 million shares in the previous session. The equity market’s turnover rose to 1.56 billion Sri Lankan rupees ($4.67 million) from 1.18 billion rupees in the previous session, according to exchange data. Foreign investors were net sellers, offloading stocks worth 226.6 million rupees, while domestic investors were net buyers, purchasing shares worth 1.56 billion rupees, the data showed. [...]

Kotak Mahindra Bank has 'high ambitions' to deploy capital for growth, CEO says

June 23, 2026 1:15

MUMBAI: Kotak Mahindra Bank is looking for acquisitions, including loan portfolios, while further expanding into alternative assets and other non-banking businesses, its chief executive said, as the Indian lender looks to deploy excess capital to drive growth. Founded by billionaire Uday Kotak, it aims to become India’s third-largest private lender by after-tax profit, CEO Ashok Vaswani told Reuters in an interview on Monday afternoon. “I have very high ambitions,” Vaswani said. He said he was interested in “both organic and inorganic” growth when the right opportunity came along. He declined to give a number for a potential acquisition size. Kotak Mahindra ranks behind HDFC Bank, ICICI Bank and Axis Bank among India’s private sector lenders in terms of after-tax profit. It had initially expressed interest in buying a stake in government-owned IDBI Bank but later exited the process over concerns about high valuations. It has also been in discussions to acquire Deutsche Bank’s India retail business. Those talks remain “in the works,” Vaswani said, without giving details. It acquired Standard Chartered’s personal loan portfolio in India in 2025 and micro lender Sonata Finance in 2023. It will continue to target alternative assets as long as strong returns remain on offer, he said. The bank, which has an investment in commodity exchange MCX, is looking for other opportunities in infrastructure that underpins financial markets. “We really, really like financial markets infrastructure,” Vaswani said. “I’m very interested in that space.” The pressure to deploy funds comes as its surplus capital drags down the return on capital, a key profitability measure. Its capital adequacy ratio is 23%, above the regulatory minimum of 9% and the 16% to 19% for the country’s top three private banks. Vaswani expects to expand the loan book at a faster pace than the overall banking industry by focusing on affluent customers and what he called “core India”, including the country’s middle class and small businesses. Tech, AI to curb hiring growth While the lender faced regulatory curbs between 2024 and 2025 due to IT infrastructure lapses, it is now spending about 13% of its operating expenses on technology. This level of spending will continue as the bank invests in cybersecurity and pushes to improve efficiency by using AI. Kotak has expanded its balance sheet by over 17% over the past year without increasing overall headcount, Vaswani said. While hiring will continue, workforce growth will be “far smaller” than balance-sheet growth, he said. [...]

India's RBI to allow domestic banks to extend loans against overseas FX deposits

June 23, 2026 1:09

MUMBAI: India’s central bank has allowed domestic lenders to extend loans to non-residents against foreign currency deposits, including via their offshore branches, the Reserve Bank of India said in a notice on Tuesday. The move is expected to boost the overall amount of FX deposits garnered via the route, which was announced earlier this month as part of a broader measures to bolster dollar inflows into the country. Under the scheme to raise FX deposits, Indian banks will be allowed to extend loans to non-residents from their overseas branches, including via those in India’s tax-neutral GIFT City, using deposits garnered as collateral. Domestic lenders will also be allowed to issue a standby letter of credit against such FX deposits. Banks will be able to extend loans to foreign currency deposit holders and place a lien on such accounts. RBI’s swap will cover only the principal amount of the deposits and not the interest component. Banks will be allowed to undertake swaps for tenors of less than three years for foreign currency deposits, provided they have mobilised eligible foreign-exchange deposits for a minimum period of three years. Earlier this month, the RBI offered to subsidise hedging costs for foreign currency non-resident (FCNR) deposits as a way to encourage banks to bring in dollar flows from the Indian diaspora. Brokerage Nomura estimates the scheme could attract $55 billion, with the bulk expected in August and September. [...]

Aluminium falls to three-month low on Gulf supply prospects

June 23, 2026 12:37

LONDON: Aluminium prices fell to their lowest in almost three months on Tuesday as the United States granted Iran a 60-day sanctions waiver following initial peace talks, improving prospects for a resumption in Gulf shipments through the Strait of Hormuz. The benchmark three-month aluminium on the London Metal Exchange was down 3.0% at $3,262.50 a metric ton by 0944 GMT, after hitting $3,225.5, its lowest since March 26. “Aluminum has come under additional pressure from expectations that Middle Eastern supply may gradually recover following recent geopolitical developments,” said Ole Hansen, head of commodity strategy at Saxo Bank. Oil and liquefied natural gas tanker traffic through Hormuz started to pick up on Monday, raising expectations that disrupted aluminium deliveries from the Gulf region, normally accounting for 9% of global supply, would follow. Industrial metals prices buoyed by hopes for US-Iran deal With easing worries about the availability of aluminium for immediate delivery, the premium for the LME cash contract over the three-month forwards swung to a discount. The discount was last at $8.5 a ton on Tuesday, compared to a premium of $105 three weeks ago. In other LME metals, copper, zinc and tin hit their lowest since June 11, while lead and nickel touched their lowest since mid-April, amid broad-based risk reduction across asset classes led by a sell-off in global stocks due to expectations that the Federal Reserve would take more aggressive action to tackle inflation. “The weakness has been particularly pronounced in metals linked to the energy transition and rising power demand, as investors cut exposure to cyclical growth themes,” Hansen said. Adding to the pressure, the U.S. dollar rose to its highest level in more than a year. A stronger U.S. currency makes dollar-priced metals more expensive for buyers using other currencies. LME copper fell 1.7% to $13,410.50, zinc lost 3.2% to $3,492.50, lead eased 1.2% to $1,941, tin slid 4.4% to $51,810 and nickel was down 2.5% at $17,315. [...]

India will monitor Chinese steel imports before deciding on further curbs, source says

June 23, 2026 12:15

NEW DELHI: India will monitor steel imports for at least two more months before considering whether further measures are needed to curb the flow of shipments primarily from China, a source with direct knowledge of the matter told Reuters. In December, New Delhi had imposed a three-year import tariff on select products to curb cheap shipments from China. But India, the world’s second-biggest crude steel producer, remained a net importer for a second straight month in May, when finished steel imports reached 0.7 million metric tons, above the last six months’ average, a government report reviewed by Reuters said. Exports of finished steel in May were 0.5 million metric tons, below the average of the last six months, the government report said. “We will have to see for at least two months how things pan out,” the source said, declining to be identified due to the sensitive nature of the matter. China aluminium exports jump 15% in April as Iran war squeezes global supply There was no decision yet whether it would be anti-dumping duties or other measures, the source added. The federal Ministry of Steel did not respond to a Reuters email seeking comments. Chinese imports hit two-year high in April In April, China’s finished steel exports to India more than doubled to the highest in at least two years. That raised concerns among India’s steelmakers that the imposition of import tariffs has not done enough to protect them from cheaply priced imports, Reuters reported earlier this month. Separately, the source said the steel ministry had requested the finance ministry withdraw a provisional anti-dumping duty on low-ash metallurgical coke, a steelmaking raw material, but a final decision was yet to be taken. India’s steel ministry had made the request, citing inadequate domestic supplies and higher prices, Reuters had reported last month, citing a government document. The finance ministry did not respond to a Reuters email seeking comments. [...]

Palm oil retreats on profit taking, weaker rivals

June 23, 2026 12:14

JAKARTA: Malaysian palm oil futures fell on Tuesday after hitting a one-and-a-half-month high in the previous session, weighed down by weak rival edible oils and as traders locked in profits. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 16 ringgit, or 0.34%, at 4,656 ringgit ($1,125.18) a metric ton by the close, after logging two straight sessions of gains. “We’ve witnessed profit taking today after the recent rally. The high prices are basically a bane for palm, with buyers limiting their purchases,” said Paramalingan Supramaniam, director at the Selangor-based firm Pelindung Bestari. In rival markets, soyoil prices on the Chicago Board of Trade were unchanged. The most-active soyoil contract on the Dalian Commodity Exchange fell 0.27%, while the palm oil contract was down 0.71%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Supporting the market, exports of Malaysian palm oil products for June 1-20 rose 19.1% from a month earlier, cargo surveyor Intertek Testing Services said. Independent inspection company AmSpec Agri Malaysia said shipments over the same period jumped 25% on a monthly basis. The ringgit, palm’s currency of trade, strengthened 0.19% against the dollar, making the commodity more expensive for buyers holding foreign currencies. Palm oil FCPOc3 is biased to break a resistance at 4,697 ringgit per metric ton in the third quarter and rise into the4,933-5,226 ringgit range, Reuters technical analyst Wang Tao said. [...]

Indian rupee slips as Fed rate expectations boost dollar, dent global stocks

June 23, 2026 11:35

MUMBAI: The Indian rupee ended modestly weaker on Tuesday as a churn in U.S. rate expectations boosted the dollar to a one-year peak against a basket of peers, driving global equities lower and pressuring Asian currencies. The Indian rupee closed at 94.7350 per dollar, down 0.1% from its close at 94.6775 in the previous session. Indian stocks fell 1.1%, tracking a more than 3% slide in MSCI’s gauge of Asian shares, as rising bets on Federal Reserve rate hikes this year dented equities from Tokyo to New York. The dollar index rose to 101.18, its highest level since May 25, weighing on regional currencies, which were down between 0.1% and 0.6%. Money markets are close to fully pricing in a U.S. rate increase by September. “The adjustment higher in US yields is creating a more challenging backdrop for risk assets,” MUFG said in a note. The interest rate expectations-sensitive 2-year U.S. Treasury yield has risen 18 bps so far in June and was last at 4.19%. The shift in expectations is presenting a fresh headwind for the rupee shortly after it found relief from the ripple effects of the Iran war, as policymakers stepped up support and oil prices cooled on signs of progress in peace negotiations. The United States has waived sanctions on Iran for 60 days starting Monday after the first talks under a nascent peace deal, with President Donald Trump saying he will “do what I have to do” if Iran does not stick to its side of the agreement. Traders expect the rupee to face intermittent pressure going ahead even as expectations of dollar inflows - via overseas FX deposits, borrowings and debt investments - keep the depreciation bias in check. Importers continue to be more active than exporters in hedging activity, a pattern that is unlikely to shift in the near term, a trader at a private bank said. [...]

IT, metals drag Indian shares; weak business data, monsoon worries weigh

June 23, 2026 11:33

Indian shares fell on Tuesday, dragged by heavyweight IT and metal stocks, while weak business activity data and concerns over a patchy monsoon triggered profit-booking in the broader market following a recent rally led by low oil prices. The Nifty 50 and Sensex fell 1.16% each to 23,824.10 and 76,200.68, respectively. Both benchmarks opened flat but slipped in afternoon trade after data showed India’s private sector growth eased to a three-month low in June. Services activity fell to a 17-month low, while manufacturing growth slowed to a three-month low. “Soft PMI readings, combined with persistent concerns over the monsoon shortfall, have dented investor confidence and sparked profit-taking after the recent rally driven by lower crude prices and easing Middle East tensions,” said Anita Gandhi, head of institutional business at Arihant Capital Markets. The Nifty and the Sensex had gained 4.1% and 4.4%, respectively, over the previous seven sessions, helped by lower oil prices and easing foreign outflows. Brent crude futures fell 0.7% to $77.4 a barrel on Tuesday, and are down about 39% from the peak of $126.4 touched during the Iran war. Fourteen of the 16 major sectors declined. Broader small-caps and mid-caps fell 0.5% and 1.1%, respectively. IT stocks slid 2.2% after Jefferies and Morgan Stanley flagged soft demand signals following bellwether Accenture Plc’s weak outlook. Rising expectations of a potential Federal Reserve rate hike this year also weighed, given the risk to client spending in the U.S. “This continued to keep investors from taking a clear view on the sector, even after valuations turned more attractive,” Gandhi said. Metals index lost 3.2%, tracking weaker global metal prices, as concerns over a potential Fed rate hike weighed on demand expectations for industrial commodities. Bucking the broader trend, pharma index jumped 0.9% after Mint reported, citing sources, that the U.S. drug regulator had approached Indian pharmaceutical companies to supply a critical cancer-treatment drug. [...]

Pakistan's KGTL port plans up to $100mn more investment after Iran war cargo surge

June 23, 2026 6:17

KARACHI: Pakistan’s Karachi Gateway Terminal is planning up to $100 million in new investment within five years as the country tries to cut freight costs and turn a cargo surge triggered by the Iran war into longer-term regional shipping gains. Karachi Gateway Terminal Ltd, backed by Abu Dhabi Ports Group, has already completed a $60 million dredging project at Karachi Port and is expanding container and bulk-handling facilities, CEO Khurram Aziz Khan told Reuters in an interview. “We are targeting another $75 million to $100 million” within five years, Khan said, adding that the next phase would focus on expanding the container terminal, enhancing yard capacity, larger ship and yard cranes, dedicated bulk export infrastructure, silos, warehouses and automated conveying. New feeder service to serve KGTL, strengthens maritime connectivity between Pakistan, UAE KGTL is also exploring investment in rail freight, including locomotives, rolling stock and storage hubs near agricultural areas, to link those areas to ports and help Pakistan export products such as corn and rice more competitively, he said. “For transit as well, you need to provide a complete solution,” Khan said. “We are ready to invest in that as well, to bring our own rolling stock and locomotive for the freight trains business.” Disruption into traffic The Iran war created a new opportunity for Pakistan to act as a transshipment hub, as cargo was rerouted through Karachi for onward shipment to other destinations during the conflict, Khan said. Minister marks Karachi Port dredging milestone “Pakistan has never really handled transshipment volume,” he said. “This conflict has created this opportunity for Pakistan.” The dredging project is expected to allow Karachi Port to handle bulk vessels of up to 120,000 metric tons, from about 60,000 tons previously, once Karachi Port Trust issues revised handling parameters expected within days, Khan said. KGTL is upgrading its bulk terminal to cut handling time for a 60,000-ton vessel to about 2.5 to 3 days from 12 to 15 days, while building silos with annual capacity of 8.5 million tons for clean bulk cargo to secure national food security, bulk-export warehouses and systems for fertilizer imports. But sustaining the gains will depend on better road and rail links, Khan said. [...]

Budget 2026-27: NA passes Finance Bill 2026 amid opposition walkout

June 23, 2026 6:15

The National Assembly on Tuesday passed the Finance Bill, 2026, for the fiscal year 2026-27, incorporating certain amendments, with the support of its coalition partners, reported Aaj News. The NA session has been adjourned till 11am Wednesday (tomorrow). Finance Minister Muhammad Aurangzeb presented the bill in the House, which includes several government-backed amendments, during a budget session marked by heated protests from opposition parties. Amendments proposed by Aurangzeb were accepted, while all opposition-proposed amendments were rejected, said Aaj News. Days ago, Aurangzeb unveiled a Rs18.77 trillion federal budget for fiscal year 2026-27, extending relief to the salaried class and tax incentives to exporters, real estate, and construction sectors to revive industry, promote investment, and steer the economy towards a 4% growth target. Despite facing an estimated revenue shortfall of around Rs1 trillion in the outgoing fiscal year, the government set an ambitious revenue target of Rs15.264 trillion for FY2026-27. Against the revised revenue estimate of Rs12.983 trillion for the current fiscal year, the target reflects a robust 17.6% growth in revenue collection for the next year. Shortly after the budget presentation, the Federal Board of Revenue (FBR) released the Finance Bill 2026-27. On the same day, the Finance Minister moved a copy of the proposed Finance Bill 2026 in the Senate. On June 15, the Senate commenced its debate on the proposed federal budget. The National Assembly Standing Committee on Finance on Sunday cautioned the government against introducing legislative amendments without adequate technical examination and parliamentary scrutiny under the Finance Bill (2026). The committee seriously observed that last-minute changes could compromise legislative quality, create legal ambiguities, and lead to implementation challenges. Chairman Syed Naveed Qamar emphasised that a balanced and sector-neutral framework would not only enhance competition but also contribute to a stronger, more resilient, and efficient aviation industry. [...]

Major Gulf bourses ease on investor caution, Fed rate-hike bets

June 23, 2026 3:31

IPO at PSX: Select Technologies mobilises Rs3.02bn through selling 88.88mn shares

June 23, 2026 3:22

Select Technologies is set to raise a total of Rs3.02 billion through its initial public offering (IPO) at the Pakistan Stock Exchange (PSX), as the company has achieved the price of Rs34 per share during the two-day Dutch bidding that ended on Tuesday. The technology firm is selling a total of 88.88 million shares at the strike price of Rs34 per share to investors in the first IPO of the new fiscal year 2026-27, as shares of the company will be available for public trading at the stock market from July 2026. Select Technologies is a wholly owned subsidiary of Air Link Communication Limited. The company share price surged 21.43% to the strike price of Rs34 during the two-day bidding from the pre-opening bid price of Rs28 per share. The share price was allowed to rise by a maximum of 50% to Rs42 per share during the Dutch bidding. Also read: Select Technologies announces Rs2.5bn IPO to establish AC manufacturing facility in Pakistan The IPO data suggests the company has mobilised Rs2.26 billion through selling 66.66 million shares to institutional and high net worth individual (HNWI) investors at the two-day book building (Dutch bidding) process that culminated on Tuesday. Besides, it is scheduled to sell another 22.22 million shares to retail investors at the discovered strike price of Rs34 per share on July 2-3, 2026, which would generate another Rs755.55 million for the company, making a total of Rs3.02 billion. Earlier, the company said in its IPO prospectus: “The IPO proceeds will be used primarily to establish a production facility at Sundar Green Special Economic Zone for the manufacturing and assembly of air conditioner (AC) units, with an objective of enhancing production capacity, expanding product range, and availing regulatory tax benefits. “A portion of the proceeds will be utilised towards expanding the TV production line to support large scale TV models and enhance the efficiency of existing TV production facilities.” It maintained that capital expenditure will also be undertaken on smartphone plant and machinery, allowing Select Technologies Limited to keep its operations up-to-date with technological advancements in the industry. “The remainder of the proceeds raised [above Rs2.48 billion] will be utilised in financing the working capital needs of the company, which remain high due to the need to finance inventories.” Lead manager of the IPO, Arif Habib Limited’s CEO Shahid Ali Habib said in a statement that Select Technologies IPO received “an overwhelming response from investors during the book building process, achieving 3.23-time oversubscription”. “This strong participation reflects investors’ confidence in Select Technologies’ sponsors and management, growth strategy, and future prospects,” he said. PSX witnessed 11 IPOs in the outgoing fiscal year 2025-26. Select Technologies will be the first IPO for the fiscal year 2026-27. [...]

India to sell up to 2% stake in Indian Railway Finance Corp

June 23, 2026 3:09

India on Tuesday said it would divest up to a 2% stake in Indian Railway Finance Corp via an offer for sale (OFS). The Indian government will sell 1% equity in the financier, with an option to sell an additional 1% based on investor response, the divestment secretary said in a post on social media platform X. The offer will open for non-retail investors on Wednesday and for retail investors on Thursday. An OFS allows promoters or large shareholders of listed companies to sell shares through stock exchanges. India’s Union Budget set a divestment and asset monetisation target of 800 billion Indian rupees ($8.44 billion) for fiscal year 2027. In February, the government had proposed to sell up to a 4% stake in Indian Railway Finance Corp, but could offload only 1.71% shareholding. It holds an 84.65% stake in the financier. [...]

Indian industry lobby chief pushes for quicker dispute resolution to boost investment

June 23, 2026 3:05

NEW DELHI: India must resolve investor disputes faster and ease working conditions for foreign firms to help the country compete for global capital and accelerate growth toward 8%-10%, the president of the Confederation of Indian Industry said. “Arbitration has got to close in a matter of months,” R. Mukundan, the head of the industrial chamber, said in an interview with Reuters on Monday, adding India needed to build its capacity to resolve disputes to match jurisdictions such as Singapore. Referring to rules requiring investors to spend up to five years pursuing domestic remedies before international arbitration, Mukandan said: “Even three years is too long.” His comments come as India considers changes to its 2016 bilateral investment treaty framework to attract more foreign capital from partner nations. One part of this treaty is a requirement that foreign investors exhaust domestic legal remedies for five years before seeking international arbitration. India ramps up defence of faltering rupee after holding fire on rates India has received weak net foreign direct investment in recent years at $7.7 billion in the year ended March 2026, compared to $20.2 billion for Vietnam and $24.2 billion for Indonesia in 2024. Mukundan, who also serves as chief executive of Tata Chemicals, said India needed to sharpen its overall investment climate to compete with other destinations on the ease and cost of doing business. He said India would continue to attract investment and grow, but faster expansion would require deeper reforms. “Investment will still happen,” he said. “But if you want to go to eight, nine, or 10% growth, we need to address these, we need to reform even more.” Mukundan also said industry was awaiting the conclusion of an India-U.S. trade deal, which could give India access to technology, capital, investment and markets. [...]

Wall St tumbles on tech selloff as concerns about hawkish Fed, AI spending mount

June 23, 2026 3:03

Rupee registers gain against US dollar

June 23, 2026 2:55

Oil drops $1 as investors focus on Hormuz flows after peace talks

June 23, 2026 2:43

NEW YORK: Oil prices fell more than a $1 on Tuesday as investors monitored crude flows through the Strait of Hormuz amid signs of progress in U.S.-Iran peace talks. Brent crude futures declined $1.18, or around 1.2%, to $76.72 a barrel while U.S. West Texas Intermediate fell $1.18, or 1.6%, to $72.68 a barrel by 10:06 a.m. ET (1406 GMT), after earlier dropping to a near four-month low of $72.48. Prices fell more than 3% on Monday after the United States granted Iran a 60-day sanctions waiver following initial peace talks, and as officials reported a lull in hostilities in Lebanon under a broader agreement. Oman and Iran agreed on Tuesday to press on with discussions about the future administration of navigation in the Strait of Hormuz, including maritime services in the strategic waterway and the costs associated with them. A limited number of vessels are being allowed to pass through the strait each day under coordination with Iran’s Revolutionary Guards Navy, an Iranian military source told Fars news agency on Tuesday. Two stranded supertankers passed through the strait on Tuesday, while seven empty Qatar-linked liquefied natural gas tankers have entered in recent weeks in an early sign Gulf gas shipping may be resuming, ship-tracking data showed. U.S. President Donald Trump said 19 million barrels of oil flowed out of the strait on Monday, and pointed to falling oil prices in a social media post on Tuesday. Still, in the short term, the easing of sanctions wouldn’t weigh on prices much, said Ole Hvalbye, market analyst at SEB Research, as the U.S.-Iranian memorandum of understanding was still new and fragile. The world has lost millions of barrels of oil and gas supply since the war closed the strait, a chokepoint for about a fifth of the world’s oil and LNG supplies, for more than three months. “Ship owners and operators will require assurances that the threats posed by mines have been fully eliminated. Damaged ports, debris in the water, and congestion present additional obstacles to an unconditional ramp-up in traffic,” said Tamas Varga, an analyst at PVM Oil Associates. Iraq further increased output from its southern oilfields to around 2.1 million barrels per day as more tankers line up to load crude from its Gulf export terminals, two Iraqi oil officials told Reuters. Rabobank cut its oil price forecasts, citing eased disruption risks in the Gulf, and now sees Brent at $79 a barrel in the third quarter and $78 in the fourth quarter. Geopolitical risk persisted as Lebanon’s Hezbollah said Israeli forces opened fire on civilians in southern Lebanon on Tuesday and that the incident violated the ceasefire agreement between the two sides. In the United States, crude oil, gasoline and diesel stockpiles were expected to have fallen last week, a preliminary Reuters poll showed on Monday. Four analysts polled by Reuters estimated, on average, that crude inventories fell by about 5 million barrels in the week ended June 19. [...]

Oil slide anchors India 10-year yield at 3-month low

June 23, 2026 2:40

WTO body agrees to examine Indian solar tariffs, official says

June 23, 2026 2:23

The World Trade Organization’s Dispute Settlement Body agreed to establish a panel to examine tariffs and incentives in India that China says discriminate against Chinese solar energy and information technology products, a Geneva-based trade official said on Tuesday. China said the measures are contrary to India’s commitments to the WTO and that bilateral consultations have not resolved the dispute, the official said, adding that India argued dispute settlement resources should be reserved for genuine and unresolved trade concerns. India rejects US charge of surplus capacity in textiles, steel [...]

India's LPG imports from US set to cross 1 million tons in June, sources say

June 23, 2026 2:12

Gold price per tola drops by Rs10,400 in Pakistan

June 23, 2026 2:11

India's PFC becomes first non-bank lender to tap dollar debt after RBI subsidy, bankers say

June 23, 2026 1:45

Healthcare stocks lift Sri Lankan shares higher

June 23, 2026 1:27

Pakistan's KGTL port plans up to $100mn more investment after Iran war cargo surge

June 23, 2026 6:17

Pakistan, Iran agree to accelerate agricultural trade

June 23, 2026 6:14

Pakistan and Iran agreed on Tuesday to enhance agriculture trade between the two countries, the Ministry for National Food Security & Research said in a statement. The development comes as Food minister Rana Tanveer Hussain chaired a high-level meeting with Minister of Agriculture Jihad of Iran, Gholamreza Nouri Ghezeljeh, to review progress on bilateral agricultural cooperation and explore new avenues for enhancing trade between the two neighboring countries, the ministry said. “The meeting focused on strengthening collaboration in agriculture, livestock, food security, agricultural research, and trade facilitation. “Both sides reaffirmed their commitment to deepening economic ties and translating existing agreements into tangible outcomes for the benefit of farmers, traders, and consumers in both countries.” During the discussions, Rana Tanveer Hussain recalled his official visit to Iran in 2025, during which both countries agreed to expand bilateral trade in key agricultural commodities. He noted that Iran had expressed interest in importing Pakistani rice, mangoes, and meat to meet its growing domestic demand. The minister emphasised that Pakistan possesses significant potential in agricultural production and is fully capable of supplying high-quality products to the Iranian market. The Iranian minister highlighted Iran’s intention to import meat from Pakistan and stated that Pakistan has the capacity to fulfill up to 60% of Iran’s total meat import requirements. He expressed confidence in the quality and standards of Pakistani livestock products and underscored the importance of establishing efficient trade mechanisms to ensure uninterrupted supplies, according to the ministry statement. “Both ministers reviewed the progress made under the joint understandings reached during previous engagements and agreed that the commitments reflected in the joint communiqué would be implemented within the next two months. They directed relevant authorities to expedite procedural requirements and remove bottlenecks hindering trade growth.” The Iranian minister appreciated Pakistan’s role in promoting regional peace and stability and thanked the Government of Pakistan for facilitating efforts aimed at strengthening regional understanding and cooperation. The meeting also reviewed the status of the Pakistan-Iran Joint Working Committee on Agriculture. The Iranian minister noted that the committee had already been constituted and stressed that the time had come to make it fully functional and active so that agreed targets could be achieved within stipulated timelines. Both sides agreed to hold regular meetings of the committee and establish effective coordination mechanisms between technical experts and relevant institutions. Hussain emphasised that enhanced agricultural cooperation between Pakistan and Iran would contribute significantly to regional food security, increased investment, technology transfer, and sustainable economic growth. He reiterated Pakistan’s commitment to facilitating bilateral trade and strengthening institutional linkages in the agriculture and livestock sectors. The two ministers expressed satisfaction over the positive trajectory of Pakistan-Iran relations and agreed to continue close cooperation to unlock the full potential of agricultural trade, promote private-sector engagement, and enhance connectivity between the two countries. [...]

Gulf oil tanker rates nearly double as Middle East producers ramp up exports

June 23, 2026 3:38

LONDON/NEW DELHI: Oil tanker operators are reaping record profits after nearly doubling the hire cost of vessels going through the Strait of Hormuz and wider Gulf ‌region this week on rising demand as traffic through the waterway slowly picks up, according to shipping data and sources. Traffic through the vital strait has been modest since Iran lifted its effective blockade last week after agreeing to a 60-day ceasefire with the U.S., as talks on a permanent deal to end their war continue. The number of ships going through Hormuz is a fraction of the daily average of 125 before the conflict began on February 28. As many as 100 tankers ⁠remain stuck inside the Gulf with cargoes onboard, according to market estimates, adding to a shortage of available vessels as Middle Eastern crude producers ramp up exports. Rates for hiring a tanker outside the Strait of Hormuz have jumped to $190,500 a day from $106,500 a week ago, according to ship brokers and industry sources, with those hired outside the Gulf region also surging. Tanker traffic through Strait of Hormuz picks up Average daily earnings for very large crude carriers (VLCCs) have jumped to a record of nearly $470,000 a day for cargoes inside the Gulf that need to go through Hormuz, rising by over $50,000 from a week ago, according to estimates from the ship brokers and industry sources. “Tanker owners are preparing for an influx of Middle East crude cargoes in the coming weeks and are emboldened by the fact that spot TCEs (earnings) averaged above $100,000/day despite ‌the loss ⁠of … cargo volume since the U.S.-Iran hostilities commenced,” ship broker Clarksons said. “This indicates the (tanker) supply side remains exceptionally tight and a re-opening of Hormuz would tighten capacity further,” it said in a note. Trump insists Iran has agreed to nuclear inspections MIDDLE EAST PRODUCERS’ FLURRY OF TENDERS Middle Eastern producers, particularly Abu Dhabi National Oil Company, have offered crude in a flurry of tenders this month and are urging buyers to load from inside the Gulf, spurring demand for tankers. South Korean shipping group ⁠Sinokor — one of the world’s biggest operators of supertankers — did not respond to a request for comment. Its Belgium B supertanker entered the Gulf on Monday in the latest of the group’s vessels looking to load and was sailing towards Iraqi terminals, ship tracking data on MarineTraffic showed on ⁠Tuesday. While tanker rates have risen, war risk insurance costs have softened in the past five days to around 3% of the value of a ship from around 5% over a week ago, excluding discounts, insurance industry sources said. This would mean a reduction in ⁠hundreds of thousands of dollars in insurance costs for ships. US authorises Iranian oil sales amid talks on final peace deal Buyers in India, including its biggest refiner Reliance, have been seeking crude from the region following months of disruption in supplies. Reliance did not respond to a Reuters request for comment. [...]

Major Gulf bourses ease on investor caution, Fed rate-hike bets

June 23, 2026 3:31

Serena's return puts familiar force at centre of Wimbledon

June 23, 2026 3:23

LONDON: For a few days, the recipient of the final Wimbledon women’s singles wildcard was unknown, but in reality it was always destined for American great Serena Williams. Once the 44-year-old let it be known she wanted to return to the Centre Court she once owned, it was a no-brainer for the All England Club committee who decide which players who do not qualify automatically receive a special invite. At a stroke, the 23-time Grand Slam champion has become the undisputed headline act at a tournament at which she has won seven singles titles and six doubles crowns with sister Venus. World number one Aryna Sabalenka’s quest for a first title on the hallowed turf, Iga Swiatek’s defence of the crown, even the British obsession with Emma Raducanu will all take a back seat once Williams strolls through the gates. Mboko to miss Wimbledon, hopes to play doubles with Serena again Aura of the American It is four years since Williams lost in the Wimbledon first round to Harmony Tan and weeks later made an emotional exit at the U.S. Open, saying she was evolving away from tennis. The game has moved on since and new forces have established themselves, but no player boasts the aura of the American whose story, and that of Venus, who she will team up with in doubles, has transcended sport. Before re-appearing at Queen’s Club this month, in the doubles alongside Victoria Mboko, Williams cited a desire to have her young daughters Olympia and Adira watch her play. She also rightly said she had nothing to prove. But no one should be in any doubt that Williams will return to Wimbledon believing she can still mix it with the best. Wimbledon draw on Friday When the draw is made on Friday no one will want to see Williams in their vicinity. Legitimate questions will be asked about whether a singles return is a step too far for a player who ruled the women’s game with an iron grip and who spent a joint-record 186 consecutive weeks as world number one. Serena out of Queen’s doubles after partner Mboko injured Looking leaner than in 2022, however, she impressed alongside Mboko at Queen’s and insiders say she has been practising hard on the singles court for a Wimbledon return that was being planned as far back as the end of last year. Williams has used a GLP-1 weight-loss drug she says has helped her shed 34 pounds (15 kg) and feel “better than in years”. While that has started a debate about whether they are performance enhancing and should be on a banned list, former world number one Andy Roddick said it was “exactly what she should have done”. “It’s avoiding injury while training the way you need to,” he said on his podcast Serve. “That’s easier when you have the option of being 20 pounds lighter,” he said. Movement will be key, Roddick says Roddick has no doubt that her weapons still remain. “Serena is going to be able to serve forever,” he said. “I’m never worried about Serena hitting a tennis ball. I’m never worried about her being powerful, I’m never worried about her being engaged when she’s out there. “When she knows where the ball is going, she is going to punish that ball. We need to see the movement. We still don’t know what the side to side movement looks like. Wimbledon announces record 20% rise in prize money “I’m curious about it all. I think she can go out and win singles matches. You see 120 mph serves on the radar gun (in the doubles at Queen’s Club) and you left that match thinking I wanna see her play singles.” Roddick likened the impact Williams can have on the psychology of opponents, especially inexperienced ones, merely by being on other side of the net as the “Tiger effect” – referencing American golf great Tiger Woods. Tennis has been in something of a post golden-era with the likes of Roger Federer, Rafa Nadal and Andy Murray retired, and with Carlos Alcaraz injured, this year’s Wimbledon was in danger of being relegated to a side-show to the soccer World Cup. Box office return to tennis The return, therefore, of a true tennis titan is a huge boost for the organisers, fans and TV executives alike. Should Williams finally equal Margaret Court’s record 24 Grand Slam singles titles, nine years after her last one, it would rival any sporting comeback in history. Whatever happens, it will be unmissable. “It’s pretty bold,” former world number four Mary Joe Fernandez, who will be commentating for ESPN, said this week. “I’m excited. I’m excited to see how she’s playing, how she’s moving, how the serve is firing. “It’s a remarkable testimony to her that she has that confidence that she can do it. If anybody can, it’s Serena.” [...]

IPO at PSX: Select Technologies mobilises Rs3.02bn through selling 88.88mn shares

June 23, 2026 3:22

Trump insists Iran has agreed to nuclear inspections

June 23, 2026 3:16

WASHINGTON: U.S. President Donald Trump insisted on Tuesday that Iran has agreed to allow nuclear inspections long into the future, despite statements from Iran that it has not done so. “Iran has fully and completely agreed to highest level Nuclear inspections long into the future (Infinity!!!),” he wrote in a social media post. “This will insure ‘Nuclear Honesty.’ If they did not agree to this, there would be no further negotiations!” Iran has denied it had begun discussions on its nuclear programme or agreed to invite International Atomic Energy Agency inspectors back to the country. Trump also said that the United States would leave ships in the Strait of Hormuz in case it becomes necessary to reimpose its blockade of Iranian ports, something he said was “at this point, highly unlikely.” He added that 19 million barrels of oil flowed out of the Hormuz Strait on Monday. The United States waived sanctions on Iran for 60 days from Monday after the first talks under a nascent peace deal. Trump on Tuesday said the funds that the U.S. Treasury is releasing will go into escrow under U.S. control and will be used to buy food and medical supplies exclusively from the United States, including corn, wheat, and soybeans. Iran says technical talks with US in Switzerland have concluded “These are things that are desperately needed by Iran. This is a humanitarian crisis, and I feel it is necessary to help, NOW, before it is too late,” Trump wrote. [...]

Afghanistan's Taliban delegation met with EU officials in Brussels

June 23, 2026 3:16

BRUSSELS: A delegation representing Afghanistan’s Taliban met on Tuesday with European Commission officials in Brussels where they started discussing consular issues, a spokesman for the Afghan Foreign Ministry said in a statement. On the meeting’s agenda was the possible resumption of consular services for Afghans in the EU, consular presence as well as “the need for trust-building measures”, spokesman Abdul Qahar Balkhi said in a statement. Top Taliban diplomat in Qatar in bid to unlock Afghan aid The meeting raised “hope to build positive momentum to safeguard consular rights of Afghans residing abroad,” he added. It was the first time the EU has hosted the group since the Taliban returned to power in Afghanistan five years ago. [...]

India to sell up to 2% stake in Indian Railway Finance Corp

June 23, 2026 3:09

Indian industry lobby chief pushes for quicker dispute resolution to boost investment

June 23, 2026 3:05

Wall St tumbles on tech selloff as concerns about hawkish Fed, AI spending mount

June 23, 2026 3:03

PGA Tour announces two-tier competitive model from 2028re

June 23, 2026 2:58

The PGA Tour announced on Tuesday sweeping changes to its competitive structure, approving a two-tiered system with promotion and relegation to take effect in 2028. According to the U.S.-based circuit, the PGA Tour Championship Series and the PGA Tour Challenger Series will establish a true meritocracy with a formal structure for promotion and relegation. The Championship Series will feature the top players competing head-to-head, driving a season narrative that identifies the best golfer in the world. The Challenger Series will be the primary pathway to the Championship Series offering players the chance to advance to the top of the sport. “From day one, the focus of the Future Competition Committee has been to build the best version of the PGA Tour, and to do so in a way that reflects the voice of our players and the expectations of our fans,” PGA Tour CEO Brian Rolapp said in a press release. Clark leads US Open by three shots early in second round at Shinnecock Hills “The result is a new competitive model grounded in meritocracy, with clearer pathways, higher stakes and more consistency when the best players compete together.” The Championship Series will run from approximately February through August and feature 23-24 events with minimum purses of $20 million, including the four majors, Players Championship, season-ending events and team events like the Ryder Cup and Presidents Cup. The fields will be 120 players, on average. According to the press release, the PGA Tour said new markets under consideration for the remaining events yet to be filled on the Championship Series include Boston, Denver, New York, Philadelphia, San Francisco, Seattle and Washington, D.C. Full eligibility criteria will be finalized by the PGA Tour later this year, including select additional exemptions for categories like tournament winners, medical extensions and career milestones. There will be no sponsor exemptions. The Challenger Series, which will run concurrently to the Championship Series, will have a minimum of 20 events with $4 million purses and feature emerging talent along with players fighting their way back to the top. Fields will be filled to 144 players. The new competitive structure introduces true promotion and relegation, with a minimum of 90 players retained on the PGA Tour Championship Series and 20 players promoted from the PGA Tour Challenger Series each season. In addition, two-time winners on the Challenger Series will earn immediate promotion to the Championship Series. There will also be a “last chance” series of four-to-six events where a limited number of spots on the Championship Series for will be available. [...]

Oil slide anchors India 10-year yield at 3-month low

June 23, 2026 2:40

Russian attack kills three in Ukraine's Kryvyi Rih, official says

June 23, 2026 2:30

A Russian missile attack killed three people in the central Ukrainian city of Kryvyi Rih, Ukrainian officials said on Tuesday, accusing Russia of hitting a civilian area with cluster munitions. Oleksandr Vilkul, the head of the city’s defence council, said on Telegram that 25 people had also been injured in the attack by a ballistic missile with a cluster munition warhead. “People died within 200 meters of each other because of this barbaric weapon,” Vilkul said, adding the city would mark a day of mourning on Wednesday. President Volodymyr Zelenskiy, who is a native of Kryvyi Rih, reacted to the strike by calling for more international pressure on Russia to end the war and quicker supplies of air defence munitions to Ukraine. Five killed in Russia as Kyiv claims struck key plant “Every delay in implementing air defence agreements, every delay in supplies to protect Ukraine and Ukrainians is in effect a loss of life,” Zelenskiy said on Telegram. Ukraine has regularly accused Russia of attacking cities with cluster munitions, which scatter over a wide area. Russia says it does not target civilians, although thousands have been killed during the war. Regional governor Oleksandr Hanzha reported earlier that a Russian missile attack damaged industrial infrastructure in the city, without giving more detail. [...]

WTO body agrees to examine Indian solar tariffs, official says

June 23, 2026 2:23

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June 23, 2026 5:06

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June 23, 2026 5:06

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June 23, 2026 4:06

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فرانس میں ڈوب کر مرنے والوں کی تعداد 40 ہوگئی، وزیراعظم کی تصدیق

June 23, 2026 2:06

فرانسیسی وزیراعظم سیباسٹین لیکورنو نے ملک میں ڈوبنے سے مرنے والی کی تعداد 40 ہونے کی تصدیق کردی ۔گرمی کی لہر سے متعلق ہنگامی اجلاس سے... [...]

دبئی میں کرایہ داروں کی سہولت کیلئے 'فلیکسی رینٹ' اسکیم کا آغاز

June 23, 2026 12:06

دبئی میں کرایہ داروں کے لیے'فلیکسی رینٹ' نامی اسکیم کا آغاز کردیا گیا۔دبئی سے اماراتی سرکاری میڈیا کے مطابق ماہانہ اقساط پر کرایہ ادا... [...]

اسکاٹش نیشنل پارٹی کے سابق چیف ایگزیکٹو پیٹر موریل کو غبن کرنے پر سزا

June 23, 2026 11:06

پیٹر موریل۔اسکاٹ لینڈ کی حکمران جماعت اسکاٹش نیشنل پارٹی کے سابق چیف ایگزیکٹو پیٹر موریل کو غبن کرنے پر سزا سنا دی گئی۔ ایڈنبرا... [...]

ایران ایٹمی تنصیبات کے مکمل معائنے پر رضامند ہے، ٹرمپ کا دعویٰ

June 23, 2026 11:06

امریکی صدر ڈونلڈ ٹرمپ نے دعویٰ کیا ہے کہ ایران اپنی ایٹمی تنصیبات کے مکمل معائنے پر رضا مند ہے۔ایک بیان میں صدر ڈونلڈ ٹرمپ نے کہا... [...]

ناروے اور فلسطین کے درمیان زرعی تعاون کا دوطرفہ معاہدہ طے پاگیا، اوسلو

June 23, 2026 11:06

ناروے اور فلسطین کے مابین اہم دوطرفہ بیان طے پاگیا ہے، جس کے تحت فلسطینی زرعی مصنوعات کو نئی منڈیوں تک رسائی ملے گی۔ ناروے کی وزارت... [...]

ایران امریکا مذاکرات کا اثر، اسرائیلی اسٹاک مارکیٹ اور کرنسی شدید دباؤ کا شکار

June 23, 2026 11:06

تل ابیب اسٹاک مارکیٹ عمارت - فوٹو: فائلامریکا ایران مذاکرات کے بعد اسرائیلی اسٹاک مارکیٹ اور کرنسی شدید دباؤ کا شکار ہوگئی۔ امریکی... [...]

ایران کا منجمد فنڈز میں سے 12 ارب ڈالرز جلد ملنے کا دعویٰ

June 23, 2026 10:06

— فائل فوٹوغیر ملکی خبر ایجنسی نے دعویٰ کیا ہے کہ ایران کا کہنا ہے امریکی وزیرِ خارجہ مارکو روبیو کے خلیجی دورے سے قبل ایران کو 12 ارب... [...]

تہران مذاکراتی عمل جاری رکھنے کے لیے تیار ہے، واشنگٹن بھی سنجیدہ رویہ اختیار کرے: علی بحرینی

June 23, 2026 9:06

---فائل فوٹواقوامِ متحدہ میں ایران کے سفیر علی بحرینی نے کہا ہے کہ امریکی صدر ٹرمپ کی حالیہ دھمکیوں نے ایران اور امریکا کے درمیان... [...]

ایران کے ساتھ جنگ ابھی ختم نہیں ہوئی: نیتن یاہو

June 23, 2026 9:06

نیتن یاہو—فائل فوٹواسرائیلی وزیرِ اعظم نیتن یاہو کا کہنا ہے کہ ایران اور اس کے اتحادیوں کے ساتھ اسرائیل کی جنگ ابھی ختم نہیں ہوئی... [...]

عرب امارات میں پہلی مسافر ٹرین سروس کا آغاز

June 23, 2026 9:06

— تصویر بشکریہ غیر ملکی میڈیامتحدہ عرب امارات نے اپنی پہلی مسافر ٹرین سروس کا آغاز کر دیا ہے جس کے ذریعے ملک کی مختلف ریاستوں کو جدید... [...]

بھارت: فٹ پاتھ پر رہنے والی 10 سالہ بچی اغواء اور زیادتی کے بعد قتل

June 23, 2026 8:06

---فائل فوٹو بھارتی دارالحکومت دہلی کے فٹ باتھ پر رہنے والی 10 سالہ بچی کو اغواء کے بعد زیادتی کا نشانہ بنا کر قتل کر دیا گیا۔بھارتی... [...]

سونے کی قیمت میں آج بڑی کمی

June 23, 2026 10:06

— فائل فوٹوپاکستان بھر کی صرافہ مارکیٹوں میں آج سونے کی قیمت میں بڑی کمی ہوئی ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی ایشن کے... [...]

قومی اسمبلی: بجٹ 27-2026ء کی منظوری

June 23, 2026 9:06

—فائل فوٹوقومی اسمبلی نے بجٹ 27-2026ء کی منظوری دے دی جس کے بعد اجلاس کل دن 11 بجے تک ملتوی کر دیا گیا۔قومی اسمبلی کا بجٹ اجلاس اسپیکر... [...]

پاکستان اسٹاک ایکسچینج میں منفی رجحان

June 23, 2026 8:06

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

ایف بی آر کا قومی ایئرلائن کو 2 ارب کا ٹیکس جمع کرانے کیلئے خط

June 22, 2026 5:06

فیڈرل بورڈ آف ریونیو نے قومی ایئرلائن کے چیف فنانشل آفیسر کو خط لکھ دیا۔ایف بی آر کے خط میں کہا گیا کہ ان کے ادارے نے فروری 2026ء سے... [...]

پی ایس ایکس: کاروبار کا منفی دن، 100 انڈیکس 450 پوائنٹس گرگیا

June 22, 2026 2:06

---فائل فوٹوپاکستان اسٹاک ایکسچینج میں آج کاروبار کا منفی دن رہا جہاں 100 انڈیکس 450 پوائنٹس گر گیا۔پی ایس ایکس بینچ مارک 100 انڈیکس... [...]

98 فیصد پاکستانیوں کے پاس ڈیجیٹل شناختی کارڈ مگر صرف 30 فیصد بینکنگ نظام کا حصہ ہیں: ظفر مسعود

June 22, 2026 10:06

بینک آف پنجاب کے صدر اور سی ای او ظفر مسعود نے کہا ہے کہ پاکستان میں 98 فیصد شہریوں کے پاس ڈیجیٹل شناختی کارڈ کی سہولت موجود ہے... [...]

سونا پھر مہنگا، فی تولہ قیمت کیا ہو گئی؟

June 22, 2026 9:06

---فائل فوٹوملک بھر کی صرافہ مارکیٹوں میں سونے کی قیمتوں میں اضافہ ریکارڈ کیا گیا ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی ایشن... [...]

امریکا ایران مذاکرات میں مثبت پیشرفت: عالمی منڈی میں تیل کی قیمتوں میں کمی

June 22, 2026 4:06

امریکا ایران مذاکرات میں مثبت پیش رفت ہوتے ہی عالمی منڈی میں تیل کی قیمتوں میں کمی ہو گئی۔غیر ملکی میڈیا کے مطابق برینٹ خام تیل... [...]

ایران امریکا مذاکرات قیاس آرائیاں، تیل کی قیمتوں میں اضافہ

June 22, 2026 1:06

—فائل فوٹوایران امریکا مذاکرات کے حوالے سے قیاس آرائیوں پر عالمی منڈی میں تیل کی قیمتوں میں اضافہ ہو گیا۔غیر ملکی میڈیا کے مطابق... [...]

پیٹرول اور ڈیزل کی موجودہ قیمت میں کتنا اور کون کون سا ٹیکس شامل ہے؟

June 20, 2026 2:06

فائل فوٹو پیٹرول اور ڈیزل کی موجودہ قیمت میں کتنا ٹیکس شامل ہے؟ تفصیلات سامنے آگئیں۔ذرائع پیٹرولیم ڈویژن کے مطابق ایک لیٹر پیٹرول... [...]

جیٹ فیول کی قیمت میں بڑی کمی، فضائی کرایوں میں بھی کمی کا امکان

June 20, 2026 9:06

— فائل فوٹوجیٹ فیول کی قیمت میں 56 روپے 97 پیسے کی بڑی کمی کر دی گئی۔ذرائع کے مطابق جیٹ فیول کی نئی قیمت کم ہو کر 238 روپے 87 پیسے فی لیٹر... [...]

آل پاکستان پبلک ٹرانسپورٹ اونرز فیڈریشن کا بسوں کے کرائے میں کمی کا اعلان

June 20, 2026 9:06

—فائل فوٹوآل پاکستان پبلک ٹرانسپورٹ اونرز فیڈریشن نے ڈیزل کی قیمت میں کمی پر بسوں کے کرائے میں 15 فیصد کمی کا اعلان کر دیا۔اس سے پہلے... [...]

وزیرِ خزانہ محمد اورنگزیب نے بجٹ دستاویزات میں تضاد کے الزامات مسترد کر دیے

June 20, 2026 9:06

وفاقی وزیرِ خزانہ محمد اورنگزیب— فائل فوٹووفاقی وزیرِ خزانہ محمد اورنگزیب نے کہا ہے کہ وزیرِ اعظم نے گزشتہ روز پیٹرولیم مصنوعات کی... [...]

ملک بھر میں سونے کی قیمت میں معمولی کمی

June 20, 2026 8:06

—فائل فوٹوپاکستان بھر کی صرافہ مارکیٹوں میں آج سونے کی قیمت میں معمولی کمی ہوئی ہے۔آل پاکستان جیمز اینڈ جیولرز ایسوسی ایشن کے... [...]

لاہور: سولر پلیٹس کی قیمتوں میں کمی

June 20, 2026 7:06

—فائل فوٹولاہور میں مختلف واٹس کی سولر پلیٹس کی قیمتوں میں 4 سے 9 ہزار روپے تک کی کمی ہو گئی۔مارکیٹ ذرائع کے مطابق پیٹرولیم مصنوعات... [...]

SpaceX stock’s wild price swings since its IPO show how risky leveraged ETFs can be

June 23, 2026 6:23

The excitement around SpaceX shares has quickly faded after they soared in their market debut this month — providing a crushing reminder of just how risky it is to make leveraged bets on single stocks via the exchange-traded-fund market. [...]

‘It feels like a medical miracle’: How did a single QR code coupon cut my $618 Walgreens prescription to $15?

June 23, 2026 6:16

“This medication was generic.” [...]

This tech ‘fear gauge’ is nearing a two-decade high. Investors should worry.

June 23, 2026 6:15

Wall Street’s main ‘fear gauge,’ the ‘VIX’ might not be the best way to track this volatility in stocks [...]

Americans’ 401(k) balances hit record levels last year. See how you compare.

June 23, 2026 5:53

It was a very good year for most workplace retirement savers, according to Vanguard’s latest “How America Saves” report [...]

How to work in retirement without seeing your Social Security checks slashed

June 23, 2026 5:49

Claiming benefits before full retirement age while keeping a job can trigger unexpected withholdings — but the money isn’t lost forever. [...]

Your index fund is hiding a looming tech-stock risk — here is how to protect your portfolio

June 23, 2026 5:45

The S&P 500’s top 10 stocks dominate like never before. Here is a better way to invest. [...]

I want to leave everything to my sons, but I’m terrified they’ll give it to my ex-husband. How do I prevent this?

June 23, 2026 5:30

“I would not like my money to fall into the hands of my former spouse.” [...]

Trump admits selling IBM’s stock was a mistake. Now he’s cheering its quantum future.

June 23, 2026 5:04

IBM looks like a focal point as the U.S. further backs domestic quantum-computing initiatives. [...]

My houseguest left heat marks all over my table. I didn’t notice them until she was gone. Do I ask her to pay to remove them?

June 23, 2026 4:45

“What drives me crazy is that she didn’t mention it.” [...]

Are falling tech stocks the start of an overdue selloff — or a well-deserved pause?

June 23, 2026 4:19

After weeks of large-scale alarms that turned out to be false starts, equities finally found a real problem — the one they spent two years celebrating. [...]

Are falling tech stocks the start of an overdue selloff, or a deserved pause?

June 23, 2026 5:55

Trump says selling IBM’s stock was a mistake, as he cheers its quantum future

June 23, 2026 5:28

These stocks are falling the most on Tuesday

June 23, 2026 3:23

SpaceX succumbs to gravity as stock price dips below post-IPO trading debut

June 23, 2026 2:05

Nasdaq falls at open as semiconductor slump weighs on U.S. stocks

June 23, 2026 1:30

Everyday investors fueled SpaceX's trading frenzy. They now face a bear market.

June 23, 2026 12:41