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Indian shares seen opening lower as crude prices top $100 on Mideast uncertainty

April 23, 2026 3:11

India’s equity benchmarks are likely to open lower on Thursday, as Brent Crude prices topped $100 a barrel, after Iran seized two ships in the Strait of Hormuz, ‌and with no signs of peace talks restarting. GIFT Nifty futures were trading at 24,158 points, as of 8:02 a.m. IST, indicating that the benchmark Nifty 50 would open below Wednesday’s close of 24,378.1. Brent Crude prices rose for the fourth consecutive ⁠session to $102 per barrel amid uncertainty over peace talks in the Middle East. Global brokerage firm HSBC downgraded Indian equities to “underweight” from “neutral”, citing the country’s reliance on imported energy and potential knock-on effects on inflation and domestic demand. 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. Foreign investors ‌sold ⁠Indian shares worth 20.78 billion rupees ($221.56 million) on Wednesday, as per provisional data. This was their second consecutive session of selling, after earlier turning buyers for four sessions. Meanwhile, investors will react to earnings from benchmark ⁠Nifty 50 constituents SBI Life Insurance and apparel retailer Trent. SBI Life Insurance’s net profit declined marginally during January-March, due to a one-third rise in ⁠operating expenses. Trent posted a 26% jump in quarterly profit, as demand ticked up following last year’s consumption tax cuts, with ⁠its board also approving a maiden bonus share issue and a fund raise of up to 25 billion rupees. [...]

Indian rupee may weaken past 94, oil surge wipes large part of relief rally

April 23, 2026 3:08

MUMBAI: The Indian rupee is set to extend its slide on Thursday and could weaken past 94 per US dollar, pressured by oil climbing back above $100 a barrel, underscoring ‌that the relief rally has run its course. The rupee is expected to open in the 93.92-93.98 range, per traders, having settled at 93.7950 on Wednesday. The currency has already lost nearly 1% this week and slipped well past its recent highs near 92.50, a level reached largely on the back of support ⁠measures by the Reserve Bank late last month and again in April. We expect 94 to be “taken out right” at the open,” said a currency trader at a private sector bank. The drop past that level will just reinforces what has been playing out - that the move from 95 to 92.50 was a relief rally, and with oil well past $100, that trade looks done, he said. The RBI has been selling dollars over the last couple of sessions to ‌keep ⁠a lid on the rupee’s slide, traders said. However, the currency has run into heavy demand from oil companies and very thin dollar supply, they added. While the intervention has helped slow the pace of the rupee’s decline, it has so far fallen ⁠short of arresting the broader downtrend. Oil on the boil again Brent settled above $100 first the time in more than two weeks on Wednesday, last at $103.24, on stalled peace talks between ⁠Iran and the United States, and continued restrictions on trade through the Strait of Hormuz fuelling supply concerns. With both Iran and the U.S. blocking the strait, the standoff appears ⁠to “be a case of brinkmanship,” ANZ Bank said in a note. Each day that the waterway remains closed, the risks of energy shortages and inflation intensify, the bank said. [...]

Gold falls on oil-driven inflation fears; US-Iran developments in focus

April 23, 2026 3:05

Gold fell in choppy trade on Thursday as elevated oil prices fuelled fears of ‌inflation and prolonged high interest rates, while investors looked for clarity on stalled peace talks between the U.S. and Iran. Spot gold was down 0.7% at $4,705.09 per ounce, as of 0215 GMT. U.S. gold futures for June delivery fell 0.6% to $4,722.10. Brent crude oil prices remained above $100 a barrel after larger-than-expected gasoline and distillate stock draws in the United States, ⁠and over a lack of progress on the peace talks. “The sight of Brent oil back at triple digits is keeping inflation worries at the forefront, and is putting gold on the back foot today,” said Tim Waterer, chief market analyst at KCM Trade. Higher crude oil prices can stoke inflation by raising transportation and production costs, increasing the likelihood of higher interest rates. While gold is considered an inflation hedge, high interest rates make yield-bearing assets more attractive, weighing on bullion’s appeal. Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the ‌strategic ⁠waterway after U.S. President Donald Trump called off attacks with no sign of the peace talks restarting. Trump maintained the U.S. Navy blockade of Iran’s trade by sea, and Iran’s parliament speaker and top negotiator Mohammad Baqer Qalibaf said a full ceasefire only made sense if it was lifted. “Investors are worried that this ‘ceasefire-plus-blockade’ status ⁠quo could drag on for months, turning a short-term spike into a long-term inflationary anchor, which would hurt gold from a yield perspective,” said Waterer. Meanwhile, a Reuters poll of economists showed the U.S. Federal Reserve will ⁠likely wait at least six months before cutting interest rates this year as war-driven energy shocks reignite already-elevated inflation. Traders now see a 23% chance of a 25-basis-point Fed rate cut in ⁠December, down from 28% a week ago. Before the war, there were expectations of two reductions for this year. Spot silver fell 1.4% to $76.64 per ounce, platinum lost 1.3% to $2,048.25, and palladium was down 1% at $1,529.25. [...]

Japan’s Nikkei crosses key 60,000 level for first time on tech rally

April 23, 2026 2:56

TOKYO: Japan’s Nikkei share average crossed the 60,000 level for the first time on Thursday, lifted earlier by technology stocks as risk sentiment improved after U.S. President ‌Donald Trump extended the ceasefire with Iran. The index, however, shed early gains in choppy trade and was little changed by 0127 GMT, after falling as much as 0.7% earlier in the session. It touched a record high of 60,013.98 at its peak. The broader Topix was also flat at 3,744.93. Trump said the ⁠indefinite extension of the ceasefire followed a request by Pakistani mediators. However, the U.S. Navy’s blockade of Iranian ports remained in effect, and Iran seized two ships in the Strait of Hormuz. “There are still uncertainties surrounding the Middle East war. The Strait of Hormuz is not completely open and the oil prices remain high,” said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management. “Investors have bought the shares on optimism for the war’s end until now. But for the index to rise ‌further, they ⁠need more positive cues that support the fundamentals that could also lift domestic demand-related stocks.” The Nikkei has recouped all losses since the start of the U.S.-Iran war in late February, though gains have been driven by a narrow group of artificial intelligence‑related stocks, including SoftBank ⁠Group and Advantest. The so-called NT ratio, the Nikkei 225 divided by the broader Topix, hit a record high of 15.74 on Wednesday, underscoring how the rally has outpaced the wider market. Chip-related ⁠shares climbed on Thursday, with Advantest and Tokyo Electron up 2.65% and 1.76%, respectively. Technology investor SoftBank Group jumped 6.4%. Fibre optic cable maker Fujikura gained 0.65%. Uniqlo-brand owner Fast ⁠Retailing fell 1.8% to weigh on the Nikkei the most. Of the 1,600 shares on the Tokyo Stock Exchange’s prime market, 17% rose and 78% fell, and 3% traded flat. [...]

Dollar holds near 1-1/2-week high as Iran-US standoff persists

April 23, 2026 2:53

HONG KONG: The dollar wobbled near a 1-1/2-week high on Thursday as a standoff between Iran and the U.S. ‌in the Middle East war and lack of progress in peace talks pulled oil prices back above $100 per barrel, weighing on investor sentiment. Tehran seized two ships in the Strait of Hormuz on Wednesday, escalating tensions after U.S. President Donald Trump extended a ceasefire with Iran indefinitely with no sign of peace talks restarting. The two sides now remain divided on a ceasefire, blockade, nuclear issues and control of the strait, leaving the strategic waterway still effectively shut and ⁠triggering an energy shock in a blow to economies across the world. The euro was fetching $1.1712, having touched its lowest since April 13 earlier in the session. The single currency is headed for a 0.4% decline in the week, its first drop in four weeks. Sterling stood at $1.3497. The Australian dollar was steady at $0.7165, not far from the four-year high it touched last week. The New Zealand dollar traded at $0.59045 . Against the yen , the U.S. dollar nudged down 0.02% to 159.48 yen. The dollar benefited in March on safe-haven demand as the war erupted but the prospect of a peace deal and a ceasefire at the start of this month spurred a risk-on rally, with the greenback ‌giving ⁠up most of its gains. The U.S. dollar index , which measures the currency against a basket of six major peers, was at 98.644, near its highest level since April 13. The index is on track for a moderate 0.4% gain this week following two weekly drops. “Despite Trump’s ceasefire extension, tensions remain elevated with Iran refusing to reopen Hormuz while U.S. naval blockades persist, raising ⁠the risk of prolonged supply disruption,” Skye Masters, head of markets research at National Australia Bank, said in a note. Tail risks are under-priced, and inflation pressures will linger well into year-end, Masters said. The nearly two-month war in the Middle East has led ⁠to soaring fuel prices, eroding consumer confidence to a record low and wiping out market pricing for rate cuts this year. The U.S. Federal Reserve will wait at least six months before cutting interest rates this year, ⁠according to a Reuters poll of economists, as war-driven energy shocks reignite already-elevated inflation. Focus will be on U.S. weekly initial jobless claims and PMIs due to be released later on Thursday for clues on whether the impact of soaring energy prices is filtering through to the broader economy. [...]

Asian shares track Wall Street to record highs but higher oil prices a risk

April 23, 2026 2:49

SYDNEY: Asian shares tracked Wall Street higher on Thursday, led by record highs in Japan, South Korea ‌and Taiwan, as investors shrugged off higher oil prices from more shipping woes in the Gulf and focused on strong corporate earnings. Overnight, the S&P 500 climbed 1% and the Nasdaq jumped 1.6% to close at new record highs, helped by a strong start to earnings season that has eased concerns about the health of the U.S. consumer despite rising energy prices from the Iran war. That was despite oil prices gaining for a fourth straight day. Iran on ⁠Wednesday captured two container ships seeking to exit the Gulf via the Strait of Hormuz, tightening its grip on the crucial waterway, as a fragile ceasefire hangs in the balance for now. Brent crude futures rose 0.5% to $102.45 a barrel, having jumped 3.5% overnight to cross back above $100. MSCI’s broadest index of Asia-Pacific shares outside Japan rallied 1% to a record high as tech heavyweights surged in the region. Markets in Japan, South Korea and Taiwan vaulted to records for a second day, with the Nikkei topping the 60,000 mark. China’s blue chips rose 0.3% and Hong Kong’s Hang Seng index slipped 0.3% “Markets have been remarkably effective at looking through risks – and may continue to be. But the list of risks is growing as resolutions remain elusive,” said Laura ‌Cooper, global ⁠investment strategist at asset manager Nuveen. “The dissonance cannot hold indefinitely … At some point, the weight of what is being ignored could become the only one that matters.” Wall Street futures slipped in Asia after the earnings-driven rally, with the Nasdaq futures off 0.2% and S&P 500 futures down 0.3%. Shares of GE Vernova surged 13.75% after the power equipment maker raised its annual revenue forecast on the AI boom, and Boeing ⁠advanced over 5% after a smaller-than-expected quarterly loss. Electric automaker Tesla a surprise positive free cash flow in the first quarter, but its projection of sharply higher spending plans on AI and robotics drew scepticism from investors, with its shares last down 2% after the bell. Treasuries were also mostly ⁠steady despite the jump in oil prices. The two-year U.S. Treasury yield held at 3.8064%, after edging up 1 basis point (bp) on Wednesday. The 10-year yield inched 1 bp higher at 4.3094%, after finishing little changed overnight. Currencies were mostly calm, with the ⁠dollar holding onto small gains from overnight. The euro was steady at $1.1709, just above a 10-day low of $1.1691, having lost 0.3% overnight. “It is questionable whether financial markets are correctly pricing the reality that supply constraints will remain an issue for some time,” said Skye Masters, head of markets research at the National Australia Bank. [...]

Oil prices edge lower with no progress on US-Iran talks, Hormuz shipping still disrupted

April 23, 2026 2:45

Oil prices were marginally lower on Thursday after big gains in ‌the previous session amid the stalled peace talks between Iran and the United States, and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz. Brent crude futures fell 15 cents to $101.76 a barrel, after settling above $100 for the first time in more than two weeks on Wednesday. West Texas Intermediate futures fell 14 cents to $92.82. Both benchmarks closed more than $3 higher on Wednesday after larger-than-expected gasoline and ⁠distillate stock draws in the U.S., and over the lack of progress on peace talks. While U.S. President Donald Trump extended a ceasefire between the countries following a request by Pakistani mediators, Iran and the U.S. are still restricting the transit of ships through the Strait of Hormuz. The Strait carried about 20% of daily global oil and liquefied natural gas supplies until the war began at the end of February with attacks by the U.S. and Israel on Iran. Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway. Trump has also maintained a U.S. Navy blockade of Iran’s trade by sea, and Iranian parliament speaker and top negotiator Mohammad Baqer ‌Qalibaf said ⁠a full ceasefire only made sense if the blockade was lifted. The U.S. military has intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday. With his extension of the ceasefire on Tuesday, Trump again pulled back at the last moment from warnings to bomb Iran’s ⁠power plants and bridges. Trump has not set an end date for the extended ceasefire, White House press secretary Karoline Leavitt told reporters. US exports set a record high Total exports of crude oil and petroleum products from the United States climbed by 137,000 barrels per ⁠day to a record 12.88 million bpd as Asian and European countries bought up supplies after disruptions tied to the Iran war. U.S. crude stocks rose while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude ⁠inventories rose by 1.9 million barrels, compared with expectations in a Reuters poll for a 1.2 million-barrel draw. U.S. gasoline stocks fell by 4.6 million barrels, while analysts had expected a 1.5 million-barrel draw. Distillate stockpiles dropped by 3.4 million barrels versus expectations for a 2.5 million-barrel drop. [...]

Pakistan to renew GMTN, Sukuk programmes to tap global markets

April 22, 2026 6:24

The government plans to renew its Global Medium-Term Note (GMTN) and Sukuk TCI programmes for three years to raise funds from international markets. As per documents shared by the Finance Division’s debt management office, the government aims to tap multiple international instruments, including Eurobonds, international Sukuk and PKR-denominated international bonds settled in USD. “The timing of the issuance of instruments shall be dependent on prevailing market conditions as so advised by the selected transaction advisors,” read the document. Pakistan gets second $1bn tranche from Saudi Arabia: SBP The Finance Division plans to engage three consortia comprising: (i) for the issuance of Eurobonds and/or other international bonds under the GMTN Program; (ii) for international Sukuk issuances under the Sukuk TCI Program; and (iii) for PKR-denominated, USD-settled international bonds. It said that the engagement is subject to the Government of Pakistan’s funding requirements, and the size of each issuance will depend on market conditions at the time of execution. “The selected consortia are expected to structure, advise, manage, coordinate and execute the whole range of activities associated with the programs,” it said. As per details, consortium-1 shall comprise up to five conventional international financial institutions appointed as joint lead managers/underwriters and bookrunners for the issuance of Eurobonds. Pakistan says all options on table for funding, weighs strategic fuel reserve The consortium shall be jointly responsible for structuring, pricing, underwriting, syndicate management, investor outreach, roadshows, book- building, and allocation, ensuring broad international distribution and high-quality order books. Meanwhile, consortium-2 shall comprise up to five international financial institutions, including at least one international Islamic financial institution, appointed as joint lead managers/underwriters and bookrunners for the issuance of international Sukuk. The consortium shall be jointly responsible for structuring, pricing, underwriting, syndicate management, investor outreach, roadshows, book-building, and allocation, ensuring broad international distribution and high-quality order books, it added. The International Monetary Fund, in its report released in December 2025, following the second review of the ongoing External Financing Facility (EFF), projected Pakistan’s gross external financing requirements at USD19.398 billion (4.6% of GDP) for fiscal year 2025-26, followed by USD19.123 billion in fiscal year 2026-27. [...]

US stocks rise after Trump extends Iran ceasefire

April 22, 2026 6:19

NEW YORK: Wall Street stocks jumped early Wednesday, greeting US President Donald Trump’s announcement to extend the Iran ceasefire, along with a batch of mostly good corporate earnings. Trump said late Tuesday he had pushed back the end of a two-week truce with Tehran following a request by Pakistani mediators and to give Iran’s “fractured” leadership time to formulate a proposal. But oil prices pushed higher Wednesday after Iran’s Revolutionary Guards said their naval forces had seized two container ships seeking to cross the blockaded Strait of Hormuz. About 35 minutes into trading, the Dow Jones Industrial Average was up 0.8 percent at 49,552.28. READ MORE: Wall Street’s rally fades as ME angst overshadows earnings optimism The broad-based S&P 500 gained 0.7 percent to 7,116.50, while the tech-rich Nasdaq Composite Index advanced 0.9 percent to 24,473.07. “Markets are exuberant about the idea of a ceasefire continuing,” said Steve Sosnick of Interactive Brokers, who views the earnings thus far as generally good, but not necessarily meriting the market’s outsized positive reaction. “Right now, we’re not in a normal environment,” Sosnick said. “Anything that could plausibly be considered good news, or even okay news, will be taken as a positive.” Among companies reporting results, Boeing gained 2.2 percent, GE Vernova surged 11.4 percent and United Airlines fell 3.6 percent. [...]

India’s FX curbs drove foreign bond exits, stoking selloff, Nuvama’s Marwaha says

April 22, 2026 6:16

MUMBAI: The Indian central bank’s foreign exchange curbs prompted overseas investors to take profits in the South Asian country’s government bond market, sparking a selling cycle that sent borrowing costs to a two-year high, a top fixed-income official at the Nuvama Group said on Tuesday. India tightened rules for forex trading between late March and early April to support a rupee that fell to record lows as the Iran war pushed up oil prices, worsening the growth and inflation outlook for the net oil-importing country. The FX measures, now partially reversed, helped the rupee but led to a surge in the cost of hedging rupee exposure overseas. This “created an opportunity for already invested funds to unwind their hedges at a profit and exit bond holdings in India,” said Ajay Marwaha, head of fixed income markets at Nuvama, a global wealth firm based in Mumbai that manages about $37 billion. READ MORE: Indian rupee falls, tracking Asian peers; partial rollback of RBI FX curbs weighs The rise in hedging costs offered a “windfall” to investors while deterring them from adding positions, Marwaha said. Overseas investors pulled out 222 billion rupees ($2.37 billion) from Indian bonds between March 1 and April 15, sending the benchmark 10-year bond yield up by nearly half a percentage point to 7.15%. Bond yields move inversely to prices. “The FX-triggered bond selling then led to rate-triggered selling by other foreign investors, followed by domestic asset managers and insurers who needed to cut their exposure to longer dated bonds,” Marwaha said. It would take a significant rise in bond yields or a change in the rates outlook for investors to come back to the market, Marwaha said. Nuvama expects India’s benchmark bond yield to move in a range of 6.95% to 7.05% over the next one month and in a 7.05%-to-7.15% range over three months, with risks of further rise if El Nino hits monsoon rains. Higher bond volatility Bond purchases by foreign investors for margin funding needs are adding to debt market volatility, Marwaha said, with investors holding close to 70% of the equity trading margin in bonds and churning that portfolio. Limited supply of short-term bonds after the central bank’s hefty purchases last fiscal year is also pushing up yields, he said. “All short-dated bonds are in short supply. A lot of them have been given away in OMOs (open market operations). Banks are now trying to short these papers and sell it to foreign investors.” The yield on India’s 7.37% 2028 bond, which is listed on three global bond indexes, jumped 75 basis points from March to mid-April despite the central bank assuring it was not thinking about rate hikes. [...]

India’s Tech Mahindra beats quarterly revenue view on manufacturing, banking strength

April 22, 2026 6:15

BENGALURU: Indian IT services company Tech Mahindra said it is confident of delivering growth in fiscal 2027, after its fourth-quarter revenue beat estimates on strength in the manufacturing and banking, financial services and insurance (BFSI) verticals. The two segments drove growth, CEO Mohit Joshi said, with the BFSI push being part of the company’s plan to expand its portfolio. Revenue from manufacturing and BFSI grew 11.8% and 4.7%, respectively. New deal wins rose to $1.07 billion from $798 million a year earlier. Its communications business, from which it derives a third of its revenue, grew 5.6% due to stabilisation and increased spend from the company’s largest U.S. client, Joshi said. “CEO Mohit Joshi, who was previously the head of BFSI at Infosys, has been able to use his history to mine new BFSI accounts, which is a good sign. They are on track to deliver on their fiscal 2027 targets before time,” said Sushovon Nayak, IT analyst at Anand Rathi. READ MORE: India’s Tech Mahindra beats quarterly revenue view on manufacturing strength Analysts said that the company reported a good set of numbers, but that expectations have been muted across the sector. “On that muted expectation, they have done well. The expectation was that growth would be flat on constant currency basis, they grew 0.6%,” said Piyush Pandey from Yes Securities, citing client-specific issues for some of Tech Mahindra’s peers. Margin improvement trajectory remains on track, and deal wins look good, he added. Consolidated sales for the quarter ended March 31 rose 12.6% to 150.76 billion rupees ($1.61 billion), above average estimates of 147.77 billion rupees. Net profit rose 16% to 13.54 billion rupees but missed expectations. The company’s shares, which were down 6% before the results, initially pared all losses after the results were announced, before closing 2.55% down on broad-based weakness. [...]

Copper rises after Trump extends Iran ceasefire

April 22, 2026 6:14

LONDON: Copper prices rose on Wednesday as U.S. President Donald Trump’s extension of a ceasefire with Iran improved overall risk sentiment, although lingering uncertainty over the Middle East conflict capped gains. Benchmark three-month copper on the London Metal Exchange was up 0.3% at $13,270 a metric ton in official open-outcry trading. The renewed premium of Comex copper prices over the LME global benchmark, a defining feature of the copper market in 2025, has re-emerged this month, encouraging shipments to the United States. More copper will flow to the U.S. while the price premium persists until July, when a decision is expected on whether to impose tariffs on the metal, said Kostas Bintas, the global head of metals at trade house Mercuria. Copper stocks in Comex warehouses are up 2% since mid-April at 544,887 metric tons, nearing February’s record high of 545,867 tons. Meanwhile, inventories in the LME system stood at 395,575 tons after recent outflows from LME-registered warehouses in Asia. READ MORE: Copper slips as Trump talks down Iran truce extension At the Financial Times Commodities Global Summit in Lausanne, Switzerland, market participants were largely bullish on copper in the long term, but noted near-term demand risks in the case of a prolonged conflict in the Middle East. Meanwhile, the global aluminium market is already experiencing a “black swan” supply shock due to disruptions stemming from the war, which is expected to result in major shortages this year, according to a top metals analyst at Mercuria. LME aluminium was up 1.3% at $3,604.5 a ton in official activity. The contract hit a four-year high at $3,672 on April 16. Nickel rose 0.8% to $18,370,supported by an industry body’s forecast of a deficit in the global market this year. Among other LME metals, zinc added 0.7% to $3,467, lead fell 0.6% to $1,951, while tin gained 0.5% to $50,175. [...]

Gold rises on drop in Treasury yields, bargain-hunting

April 22, 2026 6:13

Gold rose on Wednesday after dropping to more than a one-week low in the previous session, boosted by a fall in longer-dated U.S. Treasury yields and bargain-hunting even as investors await a possible resumption of U.S.-Iranian peace talks. Spot gold was up 0.5% at $4,732.79 per ounce by 11:17 a.m. EDT (1517 GMT), after rising 1% earlier in the session. On Tuesday, it recorded its largest daily loss since March 26. U.S. gold futures for June delivery gained 0.7% to $4,750.20. Benchmark 10-year U.S. Treasury yields fell 0.2%. Gold is seeing “a bit of a reprieve as rates along the curve dropped here and on the hope that the Strait of Hormuz business gets worked out after Donald Trump’s statements. But the situation is very tenuous and uncertain,” said Bart Melek, global head of commodity strategy at TD Securities. READ MORE: Gold slips ahead of tentative US-Iran talks Iran seized two ships in the Strait of Hormuz on Wednesday, while U.S. President Donald Trump said the U.S. blockade of Iran would continue and a source briefed on the matter said he had not set a timeline for the ceasefire. There was no sign of peace talks restarting, however. The Israel-Lebanon ceasefire also faced pressure as at least three people were killed in Israeli drone attacks in Lebanon. “Perceived bargain-hunting after Tuesday’s losses is also featured in (gold and silver) precious metals markets,” said Jim Wyckoff, senior analyst at Kitco Metals. Gold prices have fallen close to 11% since the U.S.-Israeli war on Iran began on February 28, as rising oil prices have stoked inflation fears. While bullion is seen as an inflation hedge, higher interest rates dampen demand for the non-yielding metal. Federal Reserve chief nominee Kevin Warsh said on Tuesday he had made no promises to Trump about cutting interest rates, as he tried to assure U.S. senators considering his confirmation that he would act independently of the White House while pursuing broad reforms. Spot silver rose 1.5% to $77.84 per ounce, platinum gained 1.4% to $2,064.95, and palladium was up 1% at $1,548.34. [...]

TSX inches up as investors assess mixed signals from Middle East

April 22, 2026 6:10

Canada’s main stock index opened higher on Wednesday with broad-based gains after U.S. President Donald Trump said he would extend the Iran ceasefire indefinitely, even as Tehran’s seizure of two ships in the Strait of Hormuz kept investors cautious. At 10:41 a.m. ET, the Toronto Stock Exchange’s S&P/TSX Composite Index was up 0.5% at 33,975.86 points. Iran’s semi-official Tasnim news agency said the Revolutionary Guards had seized two vessels for maritime violations and escorted them to Iranian shores. It was the first time Iran has seized ships since the war began at the end of February. Energy shares rose 0.3%, mirroring higher oil prices amid supply concerns. READ MORE: TSX hits fresh high as tech, financial stocks strengthen There’s tentative optimism among investors, but the oil market is trading as though the ceasefire is fragile, said Brian Madden, chief investment officer at First Avenue Investment Counsel. The overall market will likely focus on corporate earnings in the next couple of weeks as the initial shock of the war is over, he said. Ten of 11 TSX sectors were trading in the green on Wednesday. Shares of miners led gains on the index; Silvercorp Metals, AbraSilver Resources and Ivanhoe Mines rose between 5.8% and 5.9%, tracking higher gold and silver prices. Among other stocks, Rogers Communications rose 10.4% after the telecom company posted first-quarter revenue slightly above estimates, as it benefited from expanding its media and sports portfolio. Metro fell 2.9% after the grocery retailer said the Laval labor dispute will have an impact on the company’s third-quarter results. [...]

US natgas futures at two-week high on cooler weather view, near-record LNG flows

April 22, 2026 6:08

U.S. natural gas futures rose to a two-week high on Wednesday, supported by forecasts for cooler than expected weather that is anticipated to pull up heating demand, and on near-record gas flows to U.S. liquefied natural gas (LNG) export plants. Front-month gas futures for May delivery on the New York Mercantile Exchange rose 3.8 cent, or 1.4%, to $2.74 per million British thermal units (mmBtu) at 10 a.m. ET (1400 GMT), after touching its highest level since April 8 earlier in the session. “The market remains well supported in remaining within easy reach of 2-week highs on the support of cooler temperatures that will be kicking up HDDs during the next couple of weeks in the process of limiting an expected expansion in the supply surplus into next month,” Ritterbusch & Associates said in a note. READ MORE: US natgas holds near one-week high on lower output Financial firm LSEG said average gas output in the U.S. Lower 48 states held at 109.4 billion cubic feet per day (bcfd) so far in April. That compares with a monthly record high of 110.7 bcfd in December 2025. LSEG projected average gas demand in the Lower 48 states, including exports, would rise to 103.5 bcfd this week from 101.4 bcfd last week. Average gas flows to the nine big U.S. LNG export plants rose to 18.9 bcfd so far in April, up from 18.6 bcfd in March. That reading compares with a monthly record high of 18.7 bcfd in February. Meanwhile, European gas prices edged higher as the market waited for news on further peace talks after U.S. President Donald Trump said he would indefinitely extend the ceasefire to the Iran-US conflict. [...]

Indian shares seen opening lower as crude prices top $100 on Mideast uncertainty

April 23, 2026 3:11

Indian rupee may weaken past 94, oil surge wipes large part of relief rally

April 23, 2026 3:08

Gold falls on oil-driven inflation fears; US-Iran developments in focus

April 23, 2026 3:05

Japan’s Nikkei crosses key 60,000 level for first time on tech rally

April 23, 2026 2:56

Dollar holds near 1-1/2-week high as Iran-US standoff persists

April 23, 2026 2:53

Asian shares track Wall Street to record highs but higher oil prices a risk

April 23, 2026 2:49

Oil prices edge lower with no progress on US-Iran talks, Hormuz shipping still disrupted

April 23, 2026 2:45

As Gulf tensions rise, Pakistan’s IT sector navigates risks and opportunities

April 22, 2026 6:29

The war situation between US and Iran is creating a business shift for Pakistan within the Gulf region which may create challenges and opportunities alike, mainly for the growing IT, fintech and allied sectors. Iran war has pushed the Gulf region into a state of economic and strategic uncertainty, with disruptions in shipping routes, energy flows, and investment activity. Blockade and intermittent incidents in the Strait of Hormuz—through which a significant share of global oil passes—have rattled markets and slowed business confidence across key Gulf economies, even as fragile diplomatic efforts continue. Also read: Oil prices up 3.22% after EIA shows drop in fuel stocks, reports container ships in Hormuz hit by gunfire According to industry experts, Pakistan’s IT companies are witnessing a slowdown in business activities in the Gulf region, particularly in the United Arab Emirates (UAE) and Qatar, whereas a major market such as Saudi Arabia remains stable and growing despite challenges for logistics amid security concerns. Saad Shah, an IT exporter and CEO of Hexalyze, said Saudi Arabia has maintained its demand for foreign companies in IT sector and infrastructure development despite the tense situation in the region - an evident that many Pakistani companies are getting projects in public and private sectors. The business environment across other Gulf economies shows signs of a cautious break, as the government and private sectors have kept their new projects on hold not only for Pakistanis but for foreign countries due to the prevailing situation, according to Shah. Also read: Pakistan’s IT exports surge to over $3bn in 9MFY26 “Pakistani IT companies should remain vigilant in terms of exploring emerging opportunities within the Gulf region, particularly in Saudi Arabia to offset the business slowdown in specific markets of this region due to uncertain geo political situation,” he maintained. Senior Vice Chairman Pakistan IT Association Muhammad Umair Nizam said the current geopolitical situation in the Gulf region presents a strategic opportunity for Pakistan’s IT sector, rather than solely a threat. “Success for Pakistani firms will be predicated on demonstrating reliability, adherence to regulatory standards, a nuanced understanding of regional dynamics, and a strong commitment to on-the-ground presence, rather than solely competing on price,” he said. To capitalise on these opportunities, Nizam continues, Pakistan must strategically enhance its value proposition by focusing on advanced domains including cybersecurity, cloud deployment, AI implementation, digital public infrastructure, fintech solutions, and managed services. “Concurrently, it is imperative to advocate for policy consistency and cultivate a more robust commercial footprint within Gulf Cooperation Council markets. While Pakistan’s recent export performance and the government’s facilitative measures indicate a solid foundational base, the critical determinant of success will now be the effectiveness of execution,” he further said. Dr Noman Said, and IT exporter and CEO S I Global Solutions, said the overall peace crisis in the Middle East region exposed vulnerabilities of many countries in Gulf region on a security front. “On the other, this war unveiled new dimensions and challenges of security threat to be required for deterrence and defense strategy for every country.” He was of the view that Pakistani IT sector did not only need to develop an advanced security system for its own cyber borders but it had to aid Saudi Arabia to ensure its defense system as per a strategic agreement signed by the two countries. Dr Noman said IT companies might witness a shift of business within the Gulf region. However, he added, the availability of human capital was prerequisite in fields of cybersecurity, AI, and advanced security operations to meet the emerging demand in foreign markets. “With the experienced and trained professionals in the field of advanced security, our country needs to prepare a cyber army for its own defense first and export manpower in this field to GCC region and different countries of the world in the second phase.” He suggested that a national level programme should be designed on human resource development in IT and security operations to cater to the national and international demands. “In this regard, the ministry of education and defense should launch an advanced curriculum in public and private sector universities to prepare a cyber army in near future,” Dr Noman said. [...]

Attock Refinery Limited shuts main unit as Islamabad security curbs disrupt fuel supply chain

April 22, 2026 6:24

Attock Refinery Limited (ARL), a key player in Pakistan’s downstream petroleum sector, announced on Wednesday that it had shut down its main crude distillation unit (HBU-I) of 32,400 Barrels Per Stream Day (BPSD) capacity. The listed refinery shared the development in a Wednesday notice to the Pakistan Stock Exchange (PSX). “Due to the expected arrival of foreign delegates in Islamabad, there has been an abrupt suspension of oil tank lorry movement to and from ARL,” the notice read. The company stated that the situation had adversely affected crude oil receipts and product dispatches, directly affecting refinery operations. “Due to constraints in product dispatch, our stocks of Motor Spirit (MS) and High-Speed Diesel (HSD) have increased significantly. Concurrently, our crude oil receipts have also declined significantly due to the road closures.” Attock Refinery was incorporated in Pakistan on November 8, 1978, as a private limited company and was converted into a public company on June 26, 1979. It is principally engaged in the refining of crude oil. The company is a subsidiary of Attock Oil Company Limited (England), and its ultimate parent is Coral Holding Limited (a private limited company incorporated in Malta). [...]

Pakistan to renew GMTN, Sukuk programmes to tap global markets

April 22, 2026 6:24

India’s central bank in talks with global regulators, banks to review Mythos risks, sources say

April 22, 2026 6:21

MUMBAI: India’s central bank is in talks with global regulators, Indian lenders and government officials to understand the potential risks posed by Anthropic’s new artificial intelligence model Mythos, three sources said. The Reserve Bank of India’s preliminary assessment – just like that of global regulators - suggests Mythos could pose cybersecurity risks by accelerating the discovery and exploitation of software vulnerabilities, the sources, all familiar with the central bank’s thinking, said. Regulators in Asia, Europe and the United States have warned banks to review defences and preparedness. In Japan, the financial watchdog will meet banks this week, while the Australian central bank said it is monitoring Mythos-related developments. RBI officials have over the past fortnight held consultations on Mythos-related risks with counterparts at the U.S. Federal Reserve and the Bank of England in particular, according to one of the sources. READ MORE: Indian banks hold back on NDF contracts for clients despite RBI loosening curbs, sources say The RBI may seek direct engagement with Anthropic, the sources said. “Globally, we are discussing with other countries and other regulators on what are the developments and what safeguards need to be taken,” one of the sources said. India’s payment authority, the National Payments Corporation of India (NPCI), is trying to secure early access to Mythos alongside a small number of banks, to identify vulnerabilities and “day-zero” cyber risks ahead of any broader rollout, this source said. However, such access may not be forthcoming as Anthropic’s Mythos systems is hosted on strictly-controlled servers in the U.S. and running tests on local data in foreign jurisdictions could prove challenging, said a fourth source aware of the matter. Access to Mythos has been limited to a small number of organisations involved in maintaining key digital infrastructure in the U.S. Anthropic plans to provide Mythos access to European banks soon, Reuters reported earlier this week. Email requests for comment sent to RBI and NPCI were not immediately answered. The RBI is preparing broader guidelines for banks entering enterprise partnerships with advanced AI models, including Mythos and Anthropic’s Claude family, as part of a longer-term strategy on AI adoption, according to two of the sources. The discussions are at an early stage but the central bank will insist that all analytics based on data of Indian customers complies with RBI’s domestic data localisation, the sources said. The RBI data localization rule, issued in 2018, requires all payment system providers in India to store end-to-end transaction data, including user information and payment messages, exclusively on servers located within India. [...]

Tesla launches new six-seater Model Y in India in attempt to boost tepid sales

April 22, 2026 6:21

MUMBAI: U.S. electric vehicle maker Tesla has launched a six-seater version of its best-selling Model Y in India as it tries to attract buyers in the world’s third-largest car market where it has struggled to grow sales. Tesla has sold just 350 Model Ys in India since starting deliveries in September, government data showed, with rivals including BYD, Mercedes-Benz and BMW far outselling the U.S. company over the same period. Its imported Model Y attracts a steep 100% import tariff, a level that chief Elon Musk has often criticised, meaning Tesla’s cars are priced much higher in India than in other markets. With the Model Y L, Tesla aims to tap a wider customer base as Indian buyers, especially families, increasingly turn to larger, premium vehicles equipped with touchscreen displays and sunroofs. This shift has helped propel demand for three-row SUVs in India, a segment currently dominated by Toyota Motor and Suzuki Motor. READ MORE: Tesla eyes Japan’s top imported-car spot as it expands store, service network The Model Y L, which has a longer driving range of 681 kilometers (423 miles), will be priced at about 6.2 million rupees, equivalent to $66,000. That is only slightly above the $64,000 price tag on the Model Y, but still far above a market where most cars are priced below $22,000. Tesla introduced the Model Y L in China last year at a starting price of 339,000 yuan ($49,700). Isabel Fan, a senior director at Tesla, told reporters at the vehicle’s launch event in Mumbai on Wednesday that the company has mass-market models and it wants to increase accessibility. “We continue to work on affordability,” she said. Tesla is developing a smaller, cheaper SUV after scrapping a highly anticipated low-cost EV project in 2024 to focus on robotaxis and humanoid robots, Reuters reported this month. While the carmaker is aiming for full self-driving autonomy for all its models, there is a realisation that many global markets, including India, won’t see meaningful adoption – nor regulatory acceptance – of driverless vehicles for years. Electric vehicles made up less than 5% of total car sales in India last year, with local players including Tata Motors and Mahindra dominating the sector. Musk has lobbied India’s federal government for years to lower import tax on electric cars but Prime Minister Narendra Modi’s administration rejected the proposals, instead pushing Tesla to manufacture locally. However, Tesla dropped plans to build cars in India, instead importing Chinese-made models. Deliveries of the six-seater Model Y L will begin in the current quarter, Tesla’s India General Manager Sharad Agarwal said at the event. [...]

India’s SBI Life profit dips as operating expenses rise

April 22, 2026 6:21

India’s SBI Life Insurance reported a 1% drop in fourth-quarter profit on Wednesday as higher commissions and a jump in operating expenses outweighed renewal premium growth. The insurer reported a net profit of 8.05 billion rupees ($85.85 million) for the three months ended March 31, down from 8.14 billion rupees a year earlier. Net premium income rose 16% to 276.84 billion rupees, driven by growth in renewal premiums. One-time premiums increased 37%, while renewal premiums rose about 14%. First-year premiums from new policies rose a modest 5%. READ MORE: India’s SBI Life posts lower profit as costs rise amid competition Net commissions paid rose 10%, while operating expenses increased nearly 35% to 16.68 billion rupees. Analysts had expected growth to moderate during the quarter as volatile equity markets, triggered by the Middle East conflict, weighed on demand for market-linked insurance products, to which the company has a relatively higher exposure. [...]

Philip Morris trims annual profit forecast amid nicotine pouch uncertainty

April 22, 2026 6:20

Philip Morris International cut its annual profit forecast on Wednesday amid regulatory uncertainty over its Zyn nicotine pouches and rising competition in tobacco products. The company, which sells Marlboro outside the U.S., has stepped up efforts to diversify beyond cigarettes, but faces growing competition from products such as British American Tobacco’s Velo, as well as regulatory delays in authorizing new versions of Zyn. A complex regulatory environment continues to slow innovation and the shift of adult smokers to smoke-free products, CFO Emmanuel Babeau said. Popular nicotine pouch products have yet to be cleared for sale in the U.S. despite a fast-track Food and Drug Administration scheme, as the agency remains cautious about potential risks to new users, including children, Reuters reported earlier this month. READ MORE: Philip Morris faces key test with US heated tobacco push However, shares rose nearly 3% in early trading after the company beat first-quarter sales and profit expectations. Philip Morris expects full-year adjusted earnings per share of $8.36 to $8.51, down from its previous forecast of $8.38 to $8.53. The midpoint is about four cents above analysts’ expectations, according to data compiled by LSEG. The company said it has factored in a small impact from the Middle East conflict in its forecast, but does not expect a prolonged effect. First-quarter revenue of $10.15 billion beat estimates of $9.91 billion, while adjusted profit per share of $1.96 topped expectations of $1.83. Revenue from smoke-free products rose 12.4% in the quarter, slowing from 15% growth a year earlier. U.S. Zyn shipments fell 23.5%, which the company attributed mainly to distributor and retailer inventory adjustments. However, Jefferies analyst Andrei Andon-Ionita said the pressure on Zyn volumes suggests a continued momentum loss, running contrary to consensus expectations of a brand re-acceleration in the back half of the year. Velo will be the likely beneficiary of the declines, he said. [...]

India’s Tech Mahindra beats quarterly revenue view on manufacturing, banking strength

April 22, 2026 6:15

Indian shares seen opening lower as crude prices top $100 on Mideast uncertainty

April 23, 2026 3:11

Indian rupee may weaken past 94, oil surge wipes large part of relief rally

April 23, 2026 3:08

Gold falls on oil-driven inflation fears; US-Iran developments in focus

April 23, 2026 3:05

US intercepts three Iranian oil tankers in Asian waters, sources say

April 23, 2026 3:05

LONDON/NEW DELHI: The US military has intercepted at least three Iranian-flagged tankers in ‌Asian waters and is redirecting them away from their positions near India, Malaysia and Sri Lanka, shipping and security sources said on Wednesday. Washington has imposed a blockade on Iran’s trade by sea while Iran has fired on ships to prevent them sailing through the Strait of Hormuz waterway at the entrance to the Middle East Gulf. Nearly two months after the U.S. and Israel began their war on Iran, there is little sign of peace talks resuming during an uneasy ceasefire. The closure of the strait has disrupted supply of a fifth of the ⁠world’s oil and gas supplies, and caused a global energy crisis. US forces have seized an Iranian cargo ship and an oil tanker in recent days. Iran said it had captured two container ships seeking to exit the Gulf via the Strait of Hormuz on Wednesday after firing on them and another vessel, its first seizures since the war began. The U.S. has diverted at least three more Iranian-flagged oil tankers in recent days, according to two US and Indian shipping sources and two separate Western maritime security source who spoke to Reuters on Wednesday. US-Iran talks could be held in next three days: Trump The U.S. military did not immediately respond to a request for comment on the interceptions. One of the vessels was the Iranian-flagged Deep Sea supertanker, which was part loaded with crude and last seen on its public tracking transponder off Malaysia’s coast a week ago, according to the sources and ship tracking data on the MarineTraffic platform. The smaller Iranian-flagged Sevin, which ‌had a ⁠maximum capacity of 1 million barrels and was carrying 65% of its load, was also intercepted. The vessel was last seen off Malaysia’s coast a month ago, ship tracking data showed. The Iranian-flagged supertanker Dorena was also intercepted, fully loaded with 2 million barrels of crude, and last seen off the coast of southern India three days ago, according to the sources and ship tracking data on the MarineTraffic platform. The U.S. Central Command said on Wednesday in a post on X, opens new tab that the Dorena ⁠has been under the escort of a U.S. Navy destroyer in the Indian Ocean after attempting to violate the blockade. U.S. forces may have intercepted the Iranian-flagged Derya tanker, shipping sources said. The vessel failed to discharge its cargo of Iranian oil in India before a U.S. waiver on Iranian crude purchases expired on Sunday. That vessel was ⁠last seen off India’s western coast on Friday, according to MarineTraffic data. U.S. Central Command said on Wednesday that since the start of its blockade against ships entering or exiting Iranian ports, U.S. forces had directed 29 vessels to turn around or return to port, opens new tab. The U.S. military has not listed all the ⁠ships it has intercepted and did not immediately respond to requests for comment about the Deyra and the Deep Sea. A third maritime security source said the US military was looking to target Iranian ships away from the Strait of Hormuz and in open waters to avoid any risk of floating mines during operations. [...]

Japan’s Nikkei crosses key 60,000 level for first time on tech rally

April 23, 2026 2:56

Dollar holds near 1-1/2-week high as Iran-US standoff persists

April 23, 2026 2:53

Asian shares track Wall Street to record highs but higher oil prices a risk

April 23, 2026 2:49

Oil prices edge lower with no progress on US-Iran talks, Hormuz shipping still disrupted

April 23, 2026 2:45

HUBC’s new earnings engine

April 22, 2026 9:38

Hub Power Company Limited’s (PSX: HUBC) 9MFY26 performance reflects a clear structural transition in its business model, where weakening core power operations are increasingly being offset by income from associates, lower financing costs, and emerging diversification. At the topline, revenue declined 22 percent year-on-year to Rs50.6 billion in 9MFY26. This is not merely a cyclical slowdown but a reflection of deeper structural changes in the company’s legacy portfolio. The early termination of the Hub Plant PPA and tariff renegotiations at Narowal have materially reduced topline contribution from core generation assets. This pressure is evident at the gross level, where profit fell sharply by 31 percent year-on-year to Rs21.6 billion in 9MFY26, with gross margins compressing to 42.7 percent from 48.6 percent last year. Lower spreads and reduced capacity utilization continue to weigh on the core business, reinforcing the shift away from generation-led earnings. Operating performance presents a mixed picture. Other income rose strongly by 67 percent year-on-year to Rs6.6 billion during the 9-month period, providing partial support, while administrative expenses increased, keeping operating profit under pressure. As a result, profit from operations declined 14 percent year-on-year to Rs26billion. The real strength in HUBC’s earnings lies below the operating line. Finance costs declined sharply by 45 percent year-on-year to Rs6.9 billion in 9MFY26, reflecting both lower interest rates and ongoing deleveraging following repayments of CPEC-related debt. More importantly, share of profit from associates increased to Rs32.3 billion, up 6 percent year-on-year, continuing to anchor the company’s earnings base. Contributions from Thar coal projects and China Power Hub Generation Company remain central, while newer investments are beginning to play a growing role. This shift in earnings composition is critical. HUBC is no longer a pure-play power generation company; it is increasingly an investment-led platform where dividends and associate income drive profitability. The completion of major Thar-based projects has enabled steady dividend inflows, strengthening cash generation and supporting the company’s consistently strong payout profile. The company also announced a latest interim cash dividend of Rs5 per share for 3QFY26, reinforcing HUBC’s strong payout profile even as its earnings base continues to shift away from legacy generation business. Despite operational weakness, these factors helped lift profit before tax by 6 percent year-on-year to Rs51.5 billion in 9MFY26. However, a sharp increase in taxation—up 43 percent year-on-year, likely due to higher effective tax rates and super tax—offset much of this gain. As a result, profit attributable to shareholders declined modestly by 3 percent year-on-year to Rs33 billion, with EPS at Rs25.49 during 9MFY26. Margins further highlight the evolving earnings profile. While gross margins declined, net margins expanded to 74.6 percent, reflecting the high-margin nature of associate income and lower financing costs. At the same time, HUBC is positioning itself for the future through diversification. The company’s entry into electric mobility through its partnership with BYD, along with investments in EV infrastructure, signals a strategic pivot toward new energy and mobility businesses. These initiatives, alongside its existing portfolio, suggest that future growth will increasingly come from outside traditional power generation. [...]

Indus Dyeing & Manufacturing Company Limited

April 22, 2026 9:36

Indus Dyeing & Manufacturing Company Limited (PSX: IDYM) was incorporated in Pakistan as a public limited company in 1957. The company is engaged in the manufacturing and sale of yarn. Pattern of Shareholding As of June 30, 2025, IDYM has a total of 54.221 million shares outstanding which are held by 2096 shareholders. Directors, CEO, their spouse and minor children have the majority stake of 64.01 percent in IDYM followed by general public holding 27.48 percent shares. Mutual funds account for 3.18 percent shares of IDYM while financial institutions and insurance companies hold 2.76 percent and 2.47 percent shares respectively. The remaining shares are held by joint stock companies. Historical Performance (2019-24) IDYM’s topline has posted showing steady growth over the period under consideration except for a downtick recorded in 2023 and 2025. The bottomline plunged in 2020, 2023 and 2024. The margins grew in 2019 followed by a decline in 2020. In the subsequent two years, the margins significantly recovered and boasted their optimum level in 2022. In the following years, the margins drastically ebbed. The detailed performance review of the period under consideration is given below. In 2019, IDYM’s topline grew by 12.8 percent year-on-year to clock in at Rs. 24,926.29 million. This came mainly on the back of local sales which grew by 47 percent year-on-year in 2019. Conversely, export sales slid by 4 percent year-on-year. While export sales greatly dropped in terms of volume, Pak Rupee depreciation provided an ample support. As of 2019, 57 percent of IDYM’s sales revenue comprises of export sales. The major export destination of IDYM was China followed by Turkey which collectively account for 73 percent of the total export sales worth Rs.14,242 million in 2019. The company produced 52,690 tons of yarn in 2019, depicting 4.8 percent year-on-year growth. While Pak Rupee depreciation buttressed the export sales by providing exchange gain, it produced negative impact on the cost of sales which rose by 12.5 percent in 2019. Gross profit grew by 15.7 percent year-on-year in 2019 with GP margin showing a marginal uptick from 10.57 percent in 2018 to 10.84 percent in 2019. Other income posted a tremendous 124.60 percent year-on-year rise in 2019 owing to duty drawback as well as unrealized gain on the revaluation of foreign currency debtors. Distribution expense almost remained intact during the year while administrative expenses grew up by 22.72 percent year-on-year in 2019 on account of higher salaries and wages followed by directors’ remuneration other than the meeting fees. IDYM’s number of employees increased from 2553 in 2018 to 2668 in 2019. Other expense went up by 6.68 percent year-on-year in 2019 due to higher provisioning done for WPPF as well as unrealized loss incurred on revaluation of foreign currency loans. Operating profit ascended by 35.74 percent year-on-year in 2019. OP margin clocked in at 9.95 percent in 2019 versus OP margin of 8.27 percent recorded in 2018. Finance cost grew by a massive 62.83 percent year-on-year in 2019. This was because of increase in discount rate during the year coupled with higher short-term and long-term financing requirements. The bottomline multiplied by 25.1 percent year-on-year in 2019 to clock in at Rs.1724.25 million with NP margin of 6.92 percent versus NP margin of 6.24 percent recorded in 2018. EPS jumped from Rs. 76.28 in 2018 to Rs.95.40 in 2019. In 2020, the local and global economies were struck by COVID-19. IDYM’s topline posted 8.63 percent year-on-year growth to clock in at Rs.27,076.26 million. This is the lowest topline growth recorded by the company among all the years under consideration. Production dropped by 10 percent to clock in at 47,285 tons on account of lower demand. While revenue from export sales continued to rise in 2020 because of Pak Rupee depreciation, local sales revenue dropped by 14.5 percent year-on-year in 2020. Export sales stood at 66 percent of IDYM’s total sales mix in 2020. Cost of sales inched up by 11.80 percent year-on-year in 2020 which trimmed down the gross profit by 17.44 percent year-on-year. GP margin dropped to 8.24 percent in 2020. Other income slumped by 69.56 percent year-on-year in 2020 owing to lesser duty drawbacks and lesser unrealized gain on the revaluation of foreign currency debtors. Distribution expense climbed up by 8.91 percent year-on-year in 2020 due to hike in export charges while administrative expenses shrank by 2.60 percent in 2020 due to significant reduction in salaries and wages as well as directors’ remuneration during the year. During the year, IDYM reduced its number of employees to 2473 which excludes the daily wage employees. Other expense slid by 37.28 percent year-on-year in 2020 due to lesser provisioning for WPPF and lesser exchange loss. All these factors culminated into 34.37 percent year-on-year drop in operating profit. OP margin posted a steep fall to clock in at 6 percent in 2020. Finance cost tumbled by 11.52 percent year-on-year in 2020 due to significant drop in short-term borrowings due to lesser working capital requirements on account of low demand. Discount rate also started ticking down in the last quarter in 2020. Despite contained operating expense and finance cost, bottomline contracted by 44.45 percent year-on-year in 2020 to clock in at Rs.957.87 million with NP margin of 3.54 percent. EPS dropped to Rs.53 in 2020. In 2021, Pakistan’s textile industry profoundly recovered from the shocks of COVID-19. IDYM’s topline posted year-on-year rise of 22.12 percent in 2021 to clock in at Rs. 33,065.36 million. This came on the back of improvement in both local and export sales. Production increased to 48,452 tons in 2021. Disturbances created by COVID-19 in India and Bangladesh rendered them unable to meet their orders which proved to be a plus point for IDYM as it was able to grab additional orders in the export market. Stronger Pak Rupee controlled the cost of sales to a great extent and resulted in a striking 122.16 percent year-on-year growth in gross profit in 2021 while GP margin climbed up to 15 percent. Other income also posted a considerable rise of 140.46 percent year-on-year mainly on account of discounting of GIDC followed by exchange gain on forward contract booking. Distribution expense grew by 27.60 percent year-on-year in 2021 due to higher freight charges. Administrative expenses also posted 6.40 percent year-on-year rise due to market induced rise in salaries and wages. Higher provisioning for WPPF pushed other expense up by 58.78 percent in 2021. Operating profit boasted a robust 171.79 percent year-on-year growth in 2021 while OP margin clocked in at 13.38 percent which was more than double of the OP margin recorded by IDYM in the previous year. Despite monetary easing in 2021, finance cost grew by 54.18 percent year-on-year due to increased borrowings. The bottomline grew by a massive 235.36 percent year-on-year in 2021 to clock in at Rs.3212.30 million with NP margin of 9.71 percent. EPS grew by 11.8 percent to Rs.59.24 as the paid up capital of IDYM increased in 2021 owing to the issuance of 200 percent bonus shares during the year. With 49.6 percent year-on-year topline growth, 2022 stood out among all the years under consideration. IDYM’s net sales were recorded at Rs.49,461.12 million in 2022. The company produced 50,701 tons of yarn during 2022. Due to drastic depreciation of Pak Rupee, revenue from export sales almost doubled during the year while local sales drastically shrank during the year due to slower economic activity and tamed demand within the country. Export sales constituted 85 percent of IDYM’s sales mix in 2022. Due to heavy floods in the southern region of the country, the local cotton produce badly suffered and the reliance on imported cotton pushed the cost of sales up by 39.10 percent year-on-year in 2022. Despite surging cost of raw materials, robust export proceeds culminated into 109.10 year-on-year growth in gross profit, however, GP margin ascended to 20.95 percent in 2022– the highest among all the years under consideration. Other income slipped by 40.94 percent year-on-year in 2022 because of discounting of GIDC in the previous year. Distribution expense grew by 34.93 percent year-on-year in 2022 due to higher ocean freight charges. Administrative expense also ticked up by 7.26 percent year-on-year in 2022 due to high inflation. Other expense grew by 175.84 percent year-on-year in 2022 due to realized exchange loss and high provisioning for WPPF due to high profitability. Operating profit multiplied by 104.41 percent year-on-year in 2022 with OP margin ascending to 18.29 percent. Finance cost posted year-on-year growth of 49.21 percent in 2022 due to multiple rounds of monetary tightening in 2022. Despite high finance cost, bottomline grew by 139.31 percent year-on-year in 2022 to clock in at Rs.7687.32 million with NP margin of 15.54 percent. EPS also grew to Rs.141.78 in 2022. The exciting growth pattern boasted by IDYM in 2021 and 2022 seems to have reversed in 2023. During the year, IDYM’s topline plunged by 0.3 percent year-on-year to clock in at Rs. 49,318.54 million. This was due to stagnant demand in the international market. Export sales were recorded at Rs.30,234.443 million in 2023, signifying a drastic drop of 27.8 percent year-on-year. Local sales registered an increase of 152.92 percent year-on-year in 2023 and stood at 38 percent of IDYM’s total sales mix. Due to sluggish demand, the company’s production dropped to 47,878 tons in 2023, down 5.57 percent year-on-year. Due to considerable shrinkage in local cotton production, the company had to rely on imported cotton. Pak Rupee depreciation significantly increased the prices of imported raw materials. Moreover, import restrictions and delays in the retirement of Letters of Credit created immense supply chain impediments for the company. Hike in electricity tariff from Rs.19.99 per kWh to more than Rs.40 per kWh also drove the cost of sales up. Gross profit shrank by 64.49 percent year-on-year in 2023 with GP margin falling to 7.46 percent. Other income provided some support as it inched up by 22.56 percent year-on-year in 2023 on account of hefty dividend income and amortization of deferred government grant. Distribution expense dropped by 18.51 percent year-on-year on account of lesser ocean freight charges as export orders dwindled in 2023. Conversely, administrative expense grew by 24.33 percent year-on-year on account of elevated payroll expense and directors’ remuneration. In 2023, IDYM also expanded its workforce to 2538 employees. Other expense plummeted by 46.40 percent year-on-year in 2023 on account of lower provisioning done for WPPF. Operating profit declined by 69.53 percent year-on-year in 2023 with OP margin drastically falling down to 5.59 percent. Increased borrowings to meet working capital requirements coupled with high discount rate translated into 77.80 percent year-on-year rise in finance cost in 2023. Consequently, bottomline contracted by 90.80 percent to clock in at Rs.707.95 million in 2023 with EPS of Rs.13.06 and NP margin of 1.44 percent. In 2024, IDYM’s topline multiplied by 37.29 percent year-on-year to clock in at Rs.67,707,78 million. This was on account of a tremendous rise of 35.95 percent in revenue from export sales. Local sales revenue also posted 24.72 percent growth during 2024. Export sales comprised of 66.31 percent of IDYM’s net sales revenue in 2024. Cost of sales escalated by 39.42 percent in 2024 due to high cost of raw materials, Pak Rupee depreciation and hike in energy tariff. Gross profit picked up by 10.80 percent in 2024 while GP margin dropped to its lowest level of 6 percent. Distribution expense hiked by 40.27 percent year-on-year during 2024 due to escalation in freight charges and export charges as export sales continued to mount. China continued to be the major export destination of IDYM with a share of 50.26 percent in the company’s export sales. Administrative expense also registered 17.13 percent spike in 2024 due to higher payroll expense on account of inflationary pressure and workforce expansion. IDYM’s workforce grew from 2532 employees in 2023 to 2858 employees in 2024. Other income slid by 50.68 percent in 2024 due to considerably lower dividend income and no exchange gain recognized during the year. IDYM booked lesser provisioning for WPPF in 2024 which together with lesser exchange loss culminated into 85 percent lower other expense recorded in 2024. Operating profit picked up by 8.92 percent year-on-year in 2024 with OP margin slipping to 4.43 percent. Finance cost mounted by 63.50 percent in 2024 due to higher discount rate. This was despite the fact that the company discharged a reasonable portion its outstanding liabilities during the year. This resulted in gearing ratio falling down from 41 percent in 2023 to 37 percent in 2024. Net profit slid by 89.69 percent to clock in at Rs.72.995 million in 2024. This translated into EPS of Rs.1.35 and NP margin of 0.11 percent. In 2025, IDYM’s net sales slumped by 2.17 percent to clock in at Rs. 66,236.20 million. During the year, the company’s local sales strengthened by106.90 percent to clock in at Rs.58.224 million. This was mainly on the back of an impressive rebound in the sales of yarn as well as trading income. Conversely, export sales dwindled by 60.98 percent to clock in at Rs.17.193 million. One of the reasons for tamed export sales during the year was no indirect exports made during the period. While improved indigenous macroeconomic indicators provided impetus to local sales, global recession, stronger Pak Rupee and higher energy cost rendered the company’s products uncompetitive in the international market. China which was the major export market for IDYM saw demand regression during the year. Cost of sales dipped by 1.58 percent in 2025, resulting in 11.43 percent diminution in gross profit with GP margin falling down to its lowest level of 5.45 percent. Lesser export sales resulted in 11.55 percent decline in distribution expense in 2025. Conversely, administrative expense surged by 97.93 percent in 2025 predominantly due to provision booked against doubtful recovery. Other income improved by 189.41 percent in 2025 particularly due to robust dividend income and interest income from Pakistan Investment Bond. Other expense escalated by 120.90 percent in 2025 due to higher provisioning done for WPPF as well as realized and unrealized exchange loss on foreign currency. During the year, the company also recorded provision for ECL worth Rs.23.96 million. The company recorded 21.25 percent thinner operating profit in 2025 with OP margin slipping to 3.57 percent. Finance cost contracted by 33.72 percent in 2025 due to lower discount rate although short-term borrowings considerably increased during the year. During the year, the company also opted from group taxation scheme which allows the offsetting of taxable profits and losses within the group. This resulted in 48 percent decline in the tax expense for the year. IDYM’s bottomline strengthened by 551.18 percent to clock in at Rs.475.33 million. This translated into EPS of Rs.8.77 and NP margin of 0.72 percent in 2025. Recent Performance (1HFY26) During the first half of the ongoing fiscal year, IDYM recorded a marginal 0.34 percent uptick in its net sales which clocked in at Rs.33,454.03 million. Unlike the previous year, where local sales registered growth, during the period under consideration, local sales went downhill due to the influx of duty free imported yarn. Conversely, export sales ticked up during 1HFY26 mainly because of demand growth from China, Bangladesh, Egypt, Japan and Portugal. Cost of sales registered 0.59 percent dip in 1HFY26, resulting in 19.68 percent improved gross profit and GP margin clocking in at 5.43 percent versus GP margin of 4.55 percent registered in 1HFY25. One of the reasons for the improved GP margin during 1HFY26 was the company’s efficient and diversified procurement strategy and the stabilization of the global textile demand. Distribution expense mounted by 12.55 percent in 1HFY26 due to greater export sales. Administrative expense also surged by 29.97 percent during the period under review due to upward revision in minimum wage rate. Greater profit related provisioning appears to be the cause of 74.91 percent escalation in other expense in 1HFY26. Other income rebounded by 233.46 percent in 1HFY26 due to realized and unrealized gain recorded on financial assets. IDYM’s other income was huge enough to absorb its operating expense and other expense and culminated into 76.52 percent stronger operating profit in 1HFY26. OP margin clocked in at 6.75 percent in 1HFY26 versus OP margin of 3.84 percent recorded in 1HFY25. Despite monetary easing, finance cost mounted by 32.38 percent in 1HFY26 due to increased short-term borrowings to meet working capital requirements. IDYM posted net profit of Rs.572.348 million in 1HFY26, up 440.40 percent year-on-year. This translated into EPS of Rs. 10.56 and NP margin of 1.71 percent in 1HFY26 as against EPS of Rs.1.95 and NP margin of 0.32 percent recorded in 1HFY25. Future Outlook The government of Pakistan has recently upgraded the Export Facilitation Scheme, removing zero rating on the yarn imports in order to provide level playing field to the local spinners. Besides, the US government has also reduced the tariff on Pakistani exports from 29 percent to 19 percent, providing greater export competitiveness. With these measures in place, IDYM is expected to boast stronger sales in the coming times. However, challenges still persist in the form of higher energy tariff for which the company is focusing on renewable energy integration, optimal capacity utilization and adapting its product mix by unlocking export led growth. Geopolitical uncertainty may also weigh down the company’s growth prospects in the export market. [...]

Likely economic outcomes of ME conflict spelled out

April 22, 2026 9:22

ISLAMABAD: An economic slowdown, declining exports, and rising inflation are likely outcomes of the ongoing confrontation between the US-Israel bloc and Iran. However, once the conflict subsides, reconstruction activities in Gulf Cooperation Council (GCC) countries could open significant employment and export opportunities for Pakistani manpower and businesses, economic experts believe. The Pakistan Institute of Development Economics (PIDE) organized a webinar on the topic “War Economics: Trade Disruptions, Oil Volatility, and Pakistan’s Policy Response.” Speaking on the occasion, Dr. Syed Hasanat Shah, Professor at PIDE, said that the ongoing confrontation in the Middle East has evolved from a regional political dispute into a global economic crisis. He noted that the conflict has destabilized the region, disrupting Pakistan’s direct and indirect trade with GCC countries and other regions. He warned that the crisis poses a serious threat to Pakistan’s external sector and could potentially reduce the country’s direct exports to GCC countries by USD1.5 to USD2 billion, depending on the status of the Strait of Hormuz. Meanwhile, Pakistan’s imports from GCC countries—primarily energy—could decline by around USD3 billion, a development that could destabilize domestic production and affect export performance. At the same time, rising energy prices are expected to increase Pakistan’s import bill by approximately USD4.5 billion, widening the current account deficit and adding to external debt pressures. Dr. Hasanat further observed that the crisis could worsen Pakistan’s balance of payments position by reducing export earnings and remittance inflows, potentially putting the country’s foreign exchange reserves under unsustainable pressure. Furthermore, he added that the border trade situation with neighbouring countries is already strained, and the ongoing war in the Middle East is likely to further reduce Pakistan’s border trade with Iran. Higher oil prices could also lead to a return of double-digit inflation, reversing the stabilization achieved during FY2025. To mitigate these risks and ensure a stable energy supply, he suggested that Pakistan should reroute oil imports to Yanbu Port in the Red Sea. He also emphasized the need to diversify oil import sources and leverage CPEC 2.0 as a robust alternative trade corridor. These measures, he noted, are essential to absorb external shocks. The current crisis, he added, serves as a test case for producers in a rapidly changing global landscape, where survival will increasingly depend on competitiveness, innovation, and efficiency rather than external support. Dr. Nasir Iqbal, Professor at PIDE, said in his presentation that the closure of the Strait of Hormuz would choke nearly 20 percent of global energy supply, along with a significant portion of merchandise trade. He noted that Pakistan’s trade heavily relies on the Middle East; therefore, any closure of the Strait would bring exports to GCC countries to a standstill, while imports—especially oil and LNG—would decline sharply. He further stated that the current oil price shock could have serious implications for the Government of Pakistan’s fiscal consolidation efforts. The federal primary surplus, budgeted at PKR 1,706 billion (1.3 percent of GDP), would decline significantly under different fiscal risk scenarios. Under a moderate shock (USD100 per barrel), it would fall to PKR 1,002 billion (0.7 percent of GDP), a reduction of PKR 704 billion (-0.6 percentage points). In a severe shock (USD120 per barrel), it would drop to PKR 821 billion (0.6 percent of GDP), a decrease of PKR 885 billion (-0.7 percentage points). In an extreme scenario (USD144 per barrel), it would further decline to PKR 781 billion (0.6 percent of GDP), a reduction of PKR 925 billion (-0.7 percentage points). Meanwhile, the fiscal deficit would widen from PKR 6,501 billion (5.0 percent of GDP) to PKR 7,517 billion (5.8 percent of GDP), reflecting mounting fiscal stress. He explained that rising oil prices increase the import bill, intensify inflationary pressures, and exert downward pressure on the exchange rate, thereby slowing economic activity. A prolonged closure of the Strait of Hormuz could further raise industrial input costs and weaken business confidence. Additionally, higher energy prices may widen the trade deficit and strain external financing needs. They also reduce fiscal space while increasing subsidy pressures; any reduction in the petroleum levy could further undermine fiscal consolidation efforts. Consequently, these factors could significantly increase the fiscal deficit and weaken the primary balance. In this context, the primary balance serves as a critical indicator for assessing whether Pakistan can absorb an external oil shock without jeopardizing macroeconomic stability. He also noted that Pakistan’s diplomatic efforts to de-escalate the ongoing conflict have been appreciated by the international community, particularly GCC countries. He expressed the view that once reconstruction begins in the Middle East, the government would seek to ensure preferential opportunities for Pakistani manpower and exports. Dr. Ahsan Ul Haq, Associate Professor at PIDE, highlighted in his presentation that oil price shocks remain among the most significant external disturbances, affecting domestic inflation, production costs, and external sector stability in oil-importing economies. He pointed out that Pakistan’s exposure to such shocks is structural rather than temporary. The country’s total energy import bill stood at USD15.9 billion in FY2025, including USD5.96 billion for petroleum products, USD5.45 billion for crude oil, USD3.48 billion for LNG, and approximately USD1.06 billion for LPG (State Bank of Pakistan, 2025). Imported energy, therefore, remains deeply embedded in Pakistan’s external account. Even when international prices temporarily decline, the economy remains vulnerable to renewed external shocks. He further explained that petroleum pricing is particularly sensitive, as petroleum products are central to transport, industrial production, and fiscal management, while import dependence exposes domestic prices to global volatility. In practical terms, this means that an external oil shock does not remain confined to the energy sector; it quickly translates into inflationary pressures, balance-of-payments stress, and broader policy management challenges. Copyright Business Recorder, 2026 [...]

WASA Punjab e-portal launched

April 22, 2026 9:22

LAHORE: Punjab Housing and Urban Development Minister Bilal Yaseen on Wednesday inaugurated the Water and Sanitation (WASA) Punjab e-portal, ensuring digital monitoring of field operations across all districts and timely resolution of public complaints. WASA Punjab Chairman Chaudhry Sher Ali Khan, Parliamentary Secretary Barrister Sultan Bajwa, Punjab Housing Secretary Noor-ul-Amin Mengal, WASA Punjab Director General Tayyab Fareed, the WASA Lahore Managing Director, and other officials were also present at the ceremony. Copyright Business Recorder, 2026 [...]

PRA tightens crackdown against tax evasion

April 22, 2026 9:22

LAHORE: The Punjab Revenue Authority (PRA) has intensified its enforcement drive against tax evasion, delayed payments and tampering of tax records, further tightening regulatory oversight across key service sectors. According to a spokesperson of the authority, enforcement teams conducted late-night inspections at prominent food chains in the upscale DHA area of Lahore, and imposed fines on three units and issued warning notices to seven others for violations of PRA laws. The spokesperson reiterated that registration with PRA is mandatory for all businesses operating in the food industry as well as the wider services sector. Persistent non-compliance and manipulation of tax records may result in strict penalties, including heavy fines and potential cancellation of licenses. Highlighting the importance of compliance, the spokesperson emphasized that taxes paid by citizens constitute a public trust, and their timely and transparent payment is essential for ensuring efficient governance and improved public service delivery. Copyright Business Recorder, 2026 [...]

63,313 farmers registered with Punjab wheat campaign

April 22, 2026 9:22

LAHORE: A total of 63,313 farmers have so far been registered across Punjab as the wheat procurement campaign continues in full swing under the directives of Chief Minister Punjab, the food department said on Thursday. According to the Director General Food Punjab, the registration process remains continuously active at 233 wheat procurement centres across the province, ensuring uninterrupted facilitation for growers. Officials stated that 14 procurement companies are currently engaged in wheat purchasing operations across Punjab to ensure smooth and efficient execution of the campaign. Amjad Hafeez, DG Food Punjab, said the food department currently has 1,862,428 metric tonnes of bardana (gunny bags) in stock to support procurement operations. So far, 26,260 bags of bardana have been distributed among farmers. The DG Food Punjab noted that under the Chief Minister’s initiative, bardana worth Rs 6 billion is being provided free of cost to farmers across the province. Farmers are being facilitated to collect free bardana by visiting their nearest wheat procurement centres and submitting their credentials, Amjad Hafeez said. Priority procurement is being ensured for Kisan Card holders and small farmers, in line with government policy to support vulnerable segments of the agriculture sector. To further facilitate growers, wheat procurement operations will continue even on Sundays and public holidays, ensuring uninterrupted access for farmers during the procurement season. The DG Food Punjab confirmed that payments for purchased wheat will be transferred directly into farmers’ bank accounts within 72 hours, ensuring transparency and timely financial support. Monitoring of procurement activities is being carried out at provincial and divisional levels through dedicated management committees, the official added. To address grievances, staff of the “Special Monitoring Unit (SMU)”, established on the direction of the Chief Minister Punjab, is present at all procurement Copyright Business Recorder, 2026 [...]

Delegation of Memon community calls on governor

April 22, 2026 9:22

KARACHI: Sindh Governor Syed Mohammad Nahal Hashmi on Wednesday met a delegation of the Memon community at the Governor House, discussing the city’s economic outlook, trade activity and the role of business groups in Karachi’s development. The 20-member delegation congratulated the Governor on assuming office and expressed expectations of improved engagement with the business community. Hashmi said he would strive to meet the confidence reposed in him by former Prime Minister Muhammad Nawaz Sharif, adding that the federal government was extending full support for Karachi’s development. He expressed optimism that investment would pick up following improved regional stability, while highlighting efforts to upgrade Karachi’s coastal belt and revive its tourism potential. “People once came to Karachi for tourism; today they go to Dubai,” Hashmi said, underscoring the need to restore the city’s appeal. The Governor also called for constructive criticism, saying it would help improve governance and performance. Copyright Business Recorder, 2026 [...]

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کوئٹہ: 10 کروڑ کا سونا لوٹنے میں ملوث گروہ کا سرغنہ گرفتار

April 22, 2026 6:04

بلوچستان کے علاقے قلعہ سیف اللّٰہ میں 10 کروڑ کا سونا لوٹنے میں ملوث گروہ کے سرغنہ کو گرفتار کرلیا گیا۔کوئٹہ میں پولیس کے مطابق ملزم... [...]

سرگودھا: خاتون کو اغوا کرکے لاکھوں روپے کے زیورات لوٹ لیے گئے

April 22, 2026 6:04

سرگودھا کے کچہری بازار میں خاتون کو مبینہ طور پر اغوا کرکے لاکھوں روپے مالیت کے زیورات لوٹ لیے گئے۔پولیس کے مطابق متاثرہ خاتون نے... [...]

کراچی، ڈیفنس کے ایک گھر میں سانپ نکل آیا

April 22, 2026 6:04

فائل فوٹوکراچی کے علاقے ڈیفنس میں ایک گھر میں سانپ نکل آیا، جس پر ریسکیو اہلکار فوری طور پر پہنچے اور سانپ کو پکڑلیا۔ریسکیو 1122 حکام... [...]

اگلے 48 گھنٹوں میں ٹرمپ بحری محاصرہ ختم کرنے کا اعلان کرسکتے ہیں، مشاہد حسین سید

April 22, 2026 5:04

مشاہد حسین سید۔فوٹو: فائلچیئرمین پاک چائنا انسٹیٹیوٹ مشاہد حسین سید نے کہا ہے کہ اگلے 48 گھنٹوں میں ٹرمپ یو ٹرن لے کر بحری محاصرہ ختم... [...]

پشاور: کرکٹ اسٹیڈیم میں اسمبلی اجلاس، آندھی چل گئی، وزیر اعلیٰ تقریر چھوڑ کر چلے گئے

April 22, 2026 5:04

کرکٹ اسٹیڈیم پشاور میں خیبر پختونخوا اسمبلی کے اجلاس کے دوران آندھی چل گئی، وزیر اعلیٰ سہیل آفریدی نے اپنا خطاب مختصر کردیا۔آندھی... [...]

چھوٹے پاور پروڈیوسرز سے میرٹ آرڈر کے برعکس بجلی خریداری کا نوٹس

April 22, 2026 4:04

فائل فوٹو وفاقی وزیر توانائی اویس احمد خان لغاری نے بجلی تقسیم کار کمپنیوں کا چھوٹے پاور پروڈیوسرز سے میرٹ آرڈر کے برعکس بجلی... [...]

وزیراعظم کی انسداد پولیو ٹیم کی کوششوں کی تعریف

April 22, 2026 3:04

تصویر، پی آئی ڈیوزیراعظم شہباز شریف نے پولیو کے خلاف جنگ میں انسداد پولیو ٹیم کی کوششوں کی تعریف کی ہے۔اسلام آباد میں وزیراعظم کی... [...]

اسحاق ڈار کا انطالیہ ڈپلومیسی فورم میں پاکستانی وفد کی میزبانی پر ترکیہ کا شکریہ

April 22, 2026 3:04

فوٹو: پی ٹی وی نائب وزیراعظم و وزیر خارجہ سینیٹر اسحاق ڈار نے ترک وزیر خارجہ ہاکان فیدان سے ٹیلیفون پر گفتگو کی اور انطالیہ ڈپلومیسی... [...]

جنگ بندی غیر معینہ مدت نہیں، 3 سے 5 دن کیلئے کی گئی ہے، امریکی میڈیا کا دعویٰ

April 22, 2026 2:04

امریکی میڈیا نے وائٹ ہاؤس حکام کے حوالے سے دعویٰ کیا کہ ٹرمپ نے ایران کے ساتھ جنگ بندی غیر معینہ مدت کےلیے نہیں صرف 3 سے 5 دن کےلیے کی... [...]

سولر سسٹم لگوانے والے صارفین کیلئے نیپرا لائسنس لازمی قرار

April 22, 2026 2:04

وزارت توانائی نے سولر سسٹم لگوانے والے تمام صارفین کےلیے نیشنل الیکٹرک پاور ریگولیٹری اتھارٹی لائسنس لازمی قرار دیدیا ہے۔نیپرا... [...]

پنجاب اسمبلی: حکومت کی جانب سے دیے جانیوالے امدادی چیک باؤنس ہونے کا الزام

April 22, 2026 1:04

فائل فوٹو پنجاب اسمبلی اجلاس میں محکمہ انسانی حقوق و اقلیتی امور کے ضرورت مندوں کے چیک باؤنس ہونے کا الزام سامنے آگیا، حکومتی رکن... [...]

گلگت بلتستان الیکشن، پہلی بار 21 خواتین نے کاغذات نامزدگی جمع کرادیے

April 22, 2026 1:04

الیکشن کمیشن نے 7 جون کو گلگت بلتستان میں ہونے والے انتخابات کے لیے تیاریاں تیز کردی ہیں۔ترجمان الیکشن کمیشن کے مطابق گلگت بلتستان کے... [...]

کراچی: ٹرک کی موٹر سائیکل کو ٹکر، ماموں کیساتھ سوار بھانجا جاں بحق

April 22, 2026 12:04

فوٹو: فائلکراچی کے علاقے لانڈھی میں داؤد چورنگی پر ٹرک کی موٹر سائیکل کو ٹکر سے بچہ جاں بحق ہوگیا۔ ریسکیو حکام کا کہنا ہے کہ بچہ ماموں... [...]

کراچی: پولیس نے ڈاکٹر سارنگ قتل کیس میں استعمال ہونے والی گاڑی برآمد کرلی

April 22, 2026 12:04

کراچی میں دو روز قبل شارع فیصل پر نامعلوم ملزمان کی فائرنگ سے قتل ہونے والے ڈاکٹر سارنگ کیس میں اہم پیش رفت ہوئی ہے، پولیس نے واردات... [...]

پشاور کے کرکٹ اسٹیڈیم میں خیبر پختونخوا اسمبلی کا اجلاس

April 22, 2026 12:04

پشاور کے کرکٹ اسٹیڈیم میں خیبر پختونخوا اسمبلی کا اجلاس شروع ہوگیا ہے۔کرکٹ اسٹیڈیم پشاور میں خیبر پختونخوا اسمبلی کے اجلاس کا... [...]

خلیجی اتحادیوں کی کرنسی سویپ کی سہولت کی درخواست، امریکی وزیر خزانہ

April 23, 2026 2:04

امریکی وزیر خزانہ اسکاٹ بیسنٹ نے کہا ہے کہ ایران جنگ سے متاثرہ امریکا کے کئی خلیجی اتحادیوں نے کرنسی سویپ کی سہولت حاصل کرنے کی... [...]

ریاست ورجینیا: ووٹرز نے کانگریس کی نشستوں کیلئے نئی حلقہ بندی سے متعلق ریفرنڈم کے حق میں ووٹ دیا

April 23, 2026 2:04

امریکا کی ریاست ورجینیا میں ووٹرز نے کانگریس کی نشستوں کیلئے نئی حلقہ بندی سے متعلق ریفرنڈم کے حق میں ووٹ دیا گیا۔ اس سے ایوان... [...]

امریکی وزیر بحریہ جان سی فیلن کو اچانک عہدے سے برطرف کردیا گیا

April 22, 2026 10:04

تصویر بشکریہ غیر ملکی میڈیاہرمز ناکہ بندی کے دوران امریکا میں ایک اور بڑی تبدیلی۔ امریکا کے وزیر بحریہ جان سی فیلن کو اچانک عہدے سے... [...]

لندن: آبنائے ہرمز پر کانفرنس آج، 30 ملکوں کے فوجی منصوبہ ساز شریک ہوں گے

April 22, 2026 9:04

برطانیہ اور فرانس کی آبنائے ہرمز دوبارہ کھلوانے کے لیے آج سے لندن میں 30 سے زائد ممالک کے فوجی منصوبہ سازوں کے ساتھ 2 روزہ کانفرنس... [...]

اسرائیل کا لبنان کی وادی بقاع میں ڈرون حملہ، حزب اللّٰہ کے 2 ارکان کو شہید کرنے کا دعویٰ

April 22, 2026 9:04

اسرائیل کی لبنان میں جنگ بندی کی خلاف ورزیاں جاری، لبنان کی مشرقی وادی بقاع میں ڈرون حملہ کرکے حزب اللّٰہ کے 2 ارکان کو شہید کرنے کا... [...]

صدر ٹرمپ نے ایران کے ساتھ سیز فائر کے لیے کوئی ڈیڈ لائن طے نہیں کی، ترجمان وائٹ ہاؤس

April 22, 2026 8:04

فائل فوٹوترجمان وائٹ ہاؤس کیرولائن لیویٹ نے کہا ہے کہ صدر ٹرمپ نے ایران کے ساتھ سیز فائر کے لیے کوئی ڈیڈ لائن طے نہیں کی، وقت کا... [...]

مکمل جنگ بندی اسی صورت قابلِ قبول جب سمندری ناکہ بندی نہ ہو: باقر قالیباف

April 22, 2026 6:04

فوٹو: فائلایرانی پارلیمنٹ کے اسپیکر محمد باقر قالیباف نے کہا ہے کہ مکمل جنگ بندی اسی صورت قابلِ قبول ہے جب سمندری ناکہ بندی نہ... [...]

امریکی جوہری سائنسدان اینڈریو ہگ کی خفیہ امور پر حساس گفتگو منظر عام پر آ گئی

April 22, 2026 5:04

امریکی جوہری سائنسدان اینڈریو ہگ کی عوامی مقام پر خفیہ امور پر کی گئی حساس گفتگو کی مبینہ ویڈیو منظر عام پر آگئی۔ویڈیو میں اینڈریو نے... [...]

امریکا میں فورڈ کلاس جنگی بحری جہاز کے مستقبل پر سوالات اٹھ گئے

April 22, 2026 5:04

فوٹو: امریکی میڈیا امریکا میں فورڈ کلاس جنگی بحری جہاز کے مستقبل پر سوالات اٹھ گئے۔غیر ملکی میڈیا کے مطابق امریکی بحریہ نے اگلے... [...]

ایران میں 8 خواتین کی سزائے موت روک دی گئی، ڈونلڈ ٹرمپ

April 22, 2026 5:04

امریکی صدر ڈونلڈ ٹرمپ : فوٹو اے ایف پی امریکی صدر ڈونلڈ ٹرمپ نے ایران اور اس کی قیادت کی تعریف کرتے ہوئے کہا کہ ایک اچھی خبر سے مجھے... [...]

ایران جنگ بندی کیلئے پاکستانی کوششوں کو سراہتا ہے، اسماعیل بقائی

April 22, 2026 5:04

ایرانی وزارت خارجہ نے کہا ہے کہ وہ جنگ بندی کےلیے پاکستان کی کوششوں کو سراہتے ہیں۔ایرانی سرکاری خبرایجنسی کے مطابق اسماعیل بقائی نے... [...]

جنگ بندی میں توسیع کیلئے لبنان اسرائیل مذاکرات کل، 4 شرائط پر بات ہوگی

April 22, 2026 4:04

فوٹو: اے ایف پی لبنان میں جنگ بندی میں توسیع کیلئے لبنان اور اسرائیل کے مذاکرات کل ہوں گے۔لبنان کےصدر جوزف خلیل عون کا کہنا ہے کہ... [...]

ایرانی صدر کے دفتر نے قیادت میں اختلافات کی خبریں مسترد کردیں

April 22, 2026 4:04

فوٹو: ایرانی میڈیا ایرانی صدر کے دفتر نے ملکی قیادت میں اختلافات کی خبریں مسترد کردیں۔صدر مسعود پزشکیان کے دفتر سے جاری بیان میں... [...]

ایران نے جنگ بندی سے متعلق ٹرمپ کے دعوے پر تاحال آفیشل موقف جاری نہیں کیا

April 22, 2026 4:04

فوٹو: ایرانی میڈیا ایران نے اب تک جنگ بندی سے متعلق ٹرمپ کے دعوے پر آفیشل موقف جاری نہیں کیا۔ایران کی سرکاری براڈ کاسٹ ایجنسی کی... [...]

اسرائیلی فوج کی جنوبی لبنان میں گاڑی پر بمباری، 2 افراد شہید

April 22, 2026 3:04

فوٹو: اے ایف پی اسرائیلی فوج نے جنوبی لبنان کے قصبہ طیری میں گاڑی پر بمباری کرکے 2 افراد کو شہید کردیا۔لبنان کے سرکاری خبر رساں ادارے... [...]

سونے کی قیمت میں مسلسل تیسرے روز بھی کمی

April 22, 2026 9:04

—فائل فوٹوپاکستان بھر کی صرافہ مارکیٹوں میں سونے کی قیمت میں مسلسل تیسرے روز بھی کمی ہوئی ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز... [...]

امریکا ایران جنگ بندی میں توسیع کے بعد تیل سستا، سونے کی قیمتوں میں اضافہ

April 22, 2026 5:04

—فائل فوٹوامریکا کی ایران کے ساتھ جنگ بندی میں توسیع کے بعد آج دنیا بھر میں سونے کی قیمتوں میں اضافہ اور تیل کی قیمتوں میں کمی... [...]

پاکستان اسٹاک ایکسچینج میں ملا جلا رجحان

April 22, 2026 5:04

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

ملک میں فی تولہ سونے کی قیمت میں 4900 روپے کی کمی

April 21, 2026 1:04

آج ملک میں فی تولہ سونے کا بھاؤ 4 ہزار 900 روپے کم ہوا ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی ایشن کے مطابق اس کمی کے بعد ملک میں... [...]

ٹرمپ کے بیانات، کروڑوں ڈالرز کے منافع بخش سودوں کا انکشاف

April 21, 2026 8:04

امریکی صدر ڈونلڈ ٹرمپ—فائل فوٹوامریکی صدر ڈونلڈ ٹرمپ کے کسی بھی بڑے اعلان سے چند منٹ قبل اسٹاک مارکیٹ میں کروڑوں ڈالرز کے منافع بخش... [...]

پاکستان اسٹاک ایکسچینج میں تیزی

April 21, 2026 5:04

پاکستان اسٹاک ایکسچینج میں کاروباری ہفتے کے دوسرے روز تیزی دیکھی جا رہی ہے۔بازارِ حصص میں کاروبار کے دوران 100 انڈیکس میں 2261... [...]

سعودی عرب کی جانب سے پاکستان کو مزید 1 ارب ڈالرز کے فنڈز موصول

April 21, 2026 4:04

سعودی عرب کی جانب سے پاکستان کو مزید 1 ارب ڈالرز کے فنڈز موصول ہو گئے۔اسٹیٹ بینک آف پاکستان نے تصدیق کرتے ہوئے کہا ہے کہ سعودی... [...]

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 ... [...]

FICO’s stock falls as Fannie and Freddie deal the credit-score company a new blow

April 23, 2026 1:43

The government-backed entities are embracing a rival type of credit score. [...]

Why ServiceNow’s stock is sliding in the wake of earnings

April 23, 2026 12:23

Investors may be taking issue with various elements of the software company’s margin forecast. [...]

IBM’s stock falls as software revenue underwhelms

April 23, 2026 12:22

Investors have been concerned about AI’s impact on IBM’s software and consulting businesses. [...]

Lululemon is getting a Nike veteran as its new CEO. An analyst says that could be a problem.

April 23, 2026 12:20

Yoga-wear maker Lululemon on Wednesday said its board had approved Nike veteran Heidi O’Neill as its new CEO. But analysts said it was too early to tell if that was the right call, and said questions about Nike’s current struggles could spill over into her new job. [...]

CSX says more businesses are shipping via rail to avoid surging fuel costs

April 23, 2026 12:18

Shares of CSX jumped after hours on Wednesday after the railroad giant raised its sales outlook for the year, as more businesses choose rail to save on fuel costs in the wake of the Iran war. [...]

POET Technologies’ stock is rocketing. What’s behind the company’s controversial AI-powered rise.

April 22, 2026 11:58

The photonics company’s stock has run up more than 70% this week on speculation of a major hyperscaler partner, even as short sellers warn of a “tax nightmare.” [...]

3 tests Apple’s new CEO must pass to prove he can grow the company in ways Tim Cook never did

April 22, 2026 10:48

Apple’s future rests on this massive pivot. [...]

These investments promise high yield with bond-like safety. But what looks too good to be true often is.

April 22, 2026 10:12

When dentists start getting cold calls about private credit, you know the fad has peaked. [...]

Flight cuts are spreading as fuel costs surge — and higher summer fares look likely

April 22, 2026 10:01

For travelers, the disappearing flights are translating into fewer route and connecting options, and of course higher fare prices. [...]

Tilray and other pot stocks soar as Trump is reportedly ready to reclassify cannabis

April 22, 2026 9:42

The move, which could open up medical research on cannabis as well as banking services for growers, follows an executive order to reclassify the substance in December. [...]

I’m exactly 5 years from retirement. Here’s what I’ll do first to prepare.

April 23, 2026 1:00

Health insurance denies a medication or procedure? Here's how to appeal it.

April 23, 2026 12:29

Tesla's stock turns lower after earnings call. Here's what's to know.

April 22, 2026 10:39

Tesla's earnings call has started — follow live as Musk discusses the results

April 22, 2026 9:46

Tesla earnings: EV revenue exceeds expectations after unit sales missed the mark

April 22, 2026 8:54

Tesla earnings are out — and the stock is climbing. Here’s what to know.

April 22, 2026 8:10