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China, HK shares end lower as AI, property offset strong profit data

May 27, 2026 8:56

HONG KONG: China and Hong Kong stocks retreated from recent highs to close lower on Wednesday, pulled down by AI and property-linked shares despite domestic data showing industrial profits grew at their strongest pace in more than two years. The Blue-Chip CSI300 Index was down 0.8% at market close, while the Shanghai Composite Index lost 1.3% to 4,093.73, both shedding early gains. The tech-focused ChiNext Price Index edged 0.1% higher, after jumping as much as 2.6% to an all-time high in early trade. The chip sector index led losses, down 4.3%, while the AI sector index weakened 1.8%, even as broader AI optimism has lifted regional shares to fresh peaks. The CSI 300 Real Estate Index slipped 3% to a record low. Property developer China Vanke lost 1.8% as it continued to grapple with its debt crisis. Also read: China stocks rise on coal, chips; brokerages up after regulatory crackdown “The investment opportunities tied to pure-play AI companies are already widely understood and well-priced in” and as AI draws more retail participation, markets are becoming increasingly divided, analysts at CITIC Securities said in a note. The barbell structure with high-growth AI names on one end, energy and infrastructure on the other, is here to stay, the analysts said. UBS APAC equity strategist Karen Hizon said they remain “overweight” on China shares, including Hong Kong stocks, where policy support and compelling valuations drive upside in AI, chips, and EV sectors. In Hong Kong, the benchmark Hang Seng was down 1.1%. The Hang Seng Tech Index lost 0.8%. Around the region, MSCI’s Asia ex-Japan stock index was firmer by 1.2%. On the data front, China’s industrial profits in April grew at the fastest pace since November 2023, despite financial pressures stemming from soft domestic demand and higher component costs exacerbated by the Middle East crisis. [...]

New Zealand central bank holds rates steady in tight vote, warns hikes to come sooner

May 27, 2026 7:38

WELLINGTON: New Zealand’s central bank held rates steady on Wednesday, but a split vote underscored a knife-edge decision, as policymakers warned rates will need to rise sooner and by more than expected to counter an energy shock rippling through the global economy. Wrapping up the May policy meeting, the Reserve Bank of New Zealand kept the cash rate on hold at 2.25%, and said three members voted to raise interest rates by a quarter-point while three voted to leave rates steady. RBNZ Governor Anna Breman had the ultimate deciding vote. “On balance, the OCR will most likely need to increase sooner and by more than envisaged in the February Monetary Policy Statement,” the RBNZ said in its statement. “The pace of OCR increases will depend on the relative influence of persistent wage- and price-setting behaviour versus weaker economic activity on medium-term inflation pressures.” The kiwi dollar jumped 0.7%to $0.7162, while two-year swap rates are 3 basis point at 3.4821%. Markets narrowed the odds of a first rate hike in July to 72% from 68% before. The revised forecast for the cash rate now implies at least two more rate hikes by the end of the year. Also read: New Zealand dollar rallies as RBNZ comes close to hiking Bank of New Zealand said in a note that while the committee vote had been split, “they all agreed that rates will need to rise and rise soon.” Capital Economics expects the central bank to hike rates sooner than its own forecast of for an October move. “While the MPC did leave rates on hold today, it does seem like it is leaning towards hiking sooner rather than later,” it said. All but one of 29 economists polled by Reuters expected a steady decision for the third straight meeting, while over half of them warned the prolonged Middle East conflict could force a rate hike by September. RBNZ calculus shifts The RBNZ has slashed rates by 325 basis points since August 2024, reversing its post-pandemic tightening drive that pushed the economy into recession and cooled inflation. That calculus is now shifting, with inflation running at 3.1% for two straight quarters, sitting above the central bank’s target range of 1% to 3%. There are signs that near-term inflation expectations are starting to shift as war-driven disruptions to global oil supply dragged on. Central banks globally have also turned hawkish -the Federal Reserve is now seen tightening rather than easing policy this year while Australia’s central bank has hiked rates three times already. A fragile weeks-long Middle East ceasefire has been tested this week with U.S. strikes on Iranian targets. The Strait of Hormuz, which carries 20% of the world’s oil and gas shipments, has been effectively shut by Tehran since the war erupted late in February. The RBNZ now expects inflation to rise to 4.3% in the September quarter, and unemployment, which hovered near a decade high at 5.3%, to peak at 5.4% and stay there until June 2027. Although New Zealand’s economy has emerged from recession, growth is still anaemic and is being further squeezed by the Middle East turmoil, persistent uncertainty about the war’s broader global impact and a tight fiscal stance. New Zealand’s conservative government, led by Prime Minister Christopher Luxon, is set to unveil its annual budget on Thursday, with tight spending controls expected to dominate and little in the way of economic stimulus. [...]

New Zealand dollar rallies as RBNZ comes close to hiking

May 27, 2026 7:26

SYDNEY: The New Zealand dollar bounced on Wednesday after the country’s central bank came unexpectedly close to lifting interest rates, while its Australian peer dipped as data showed headline consumer price inflation slowed in April. The Reserve Bank of New Zealand matched expectations by keeping the official cash rate at 2.25%, but the six-member board split down the middle on whether to hike in a surprisingly close call. The board also warned that rates would most likely need to increase sooner and by more than envisaged previously as rising energy costs posed an upside risk to inflation. Markets quickly nudged up the probability of a quarter-point increase in July to around 75%, and saw rates reaching 3.0% by year end. The RBNZ itself projected an OCR of 2.84% for December and 3.15% by the end of 2027, compared to 2.4% and 2.8% previously. The kiwi dollar popped up 0.6% to $0.5869, reversing a similar pullback in the previous session. Resistance looks solid at $0.5887, while a break of support at $0.5816 would be bearish for a retreat toward $0.5681. Also read: Australia, NZ dollars gain with risk mood, RBNZ in focus Australian data showed monthly consumer prices rose 0.4% in April, under forecasts for 0.6%. The annual pace slowed to 4.2%, from 4.6%, though mostly because of a government tax break on petrol. Estimates had been unusually wide at 4.1% to 4.8%. Yet the key trimmed mean measure of core inflation rose 0.3% as expected, taking the annual pace up to 3.4% and the fastest pace since the third quarter of 2024. The Reserve Bank of Australia has already lifted its cash rate by a total 75 basis points to 4.35% in an effort to rein in inflationary pressure, which has only gotten greater since the conflict in the Middle East began. “The data should reinforce a status quo outcome at the June RBA meeting, while still leaving the door open to further tightening in the second half of the year,” said Wee Khoon Chong, APAC macro strategist at BNY, in a note. “Overall, we remain constructive on the AUD outlook.” Investors are pricing in a 60% chance of a rate rise by September, with 4.60% seen as the peak this cycle. The Aussie was 0.1% lower at $0.7157, having also dipped overnight amid uncertainty over progress in Gulf peace talks. Resistance lies at $0.7182 and $0.7220, with support at $0.7080. [...]

Goldman Sachs lifts S&P 500 year-end target to 8,000 on strong earnings outlook

May 27, 2026 5:56

Goldman Sachs has raised its 2026 year-end forecast for the S&P 500 index to 8,000 from 7,600, citing continued strength in corporate earnings. The target is 6.4% higher than the index’s last close of 7,519.12. “Earnings growth has powered the entire S&P 500 return so far this year, and we expect this dynamic to continue in the coming months,” Goldman Sachs said in a note on Tuesday. The brokerage also raised its S&P 500 earnings-per-share forecasts to $340 for 2026, implying 24% year-on-year growth, and to $385 for 2027, a further 13% increase. Also read: Goldman Sachs pushes back Fed rate cut forecast amid Mideast conflict Goldman’s move adds to a growing wave of bullish calls from brokerages, with UBS GWM the latest to lift its outlook last week, citing robust AI-driven earnings that could help offset inflationary pressures and supply risks from the Iran conflict. The brokerage said AI infrastructure beneficiaries are set to drive about half of the index’s earnings growth this year, adding that while weak consumer spending and elevated costs pose risks, strong AI investments would offset these pressures. “In addition, while S&P 500 earnings estimates have risen more quickly than index price appreciation, the semiconductor stocks at the heart of the AI infrastructure complex have recently outpaced their forward earnings,” analysts at Goldman Sachs said. [...]

Indian equity benchmarks muted on caution over shaky US-Iran truce

May 27, 2026 5:22

India’s stock benchmarks were little changed in early trade on Wednesday, as caution prevailed over the shaky truce between the U.S. and Iran amid worries of an escalation in the Middle East conflict. The benchmark Nifty 50 rose 0.08% to 23,937.90 and the BSE Sensex added 0.11% to 76,094.41, as of 10:14 a.m. IST. The indexes have fallen 5.1% and 6.6%, respectively, since the Iran war broke out at the end of February. Iran said the U.S. had violated a ceasefire by striking targets near the contested Strait of Hormuz, potentially complicating efforts to bring the three-month-old war to a close. U.S. Secretary of State Marco Rubio has said it could take “a few days” to negotiate a deal. Brent crude hovered around $98 a barrel. “Investor sentiment is likely to stay cautious as mixed signals from U.S.-Iran talks and recent U.S. strikes on Iran deepen risk aversion,” said Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services. Also read: Indian shares muted as US strikes dent Mideast peace hopes, spur caution India’s broader small-caps and mid-caps gained about 0.2% and 0.4%, respectively. Eight of the 16 major sectors logged gains. Financials and private banks both dropped 0.4%, dragged by a 2% fall in India’s largest private lender HDFC Bank. The Indian Express reported that HDFC Bank had conducted an internal vigilance probe into 450 million rupees ($4.7 million) in interest payments to the Maharashtra State Road Development Corporation which were outside permitted banking regulations and governance practices. HDFC Bank did not immediately respond to Reuters’ queries, seeking its comments on the report. The metals index gained 1.8%, led by a 4% rise in aluminium makers Hindalco and National Aluminium , as aluminium prices surged to a more than four-year high. Coal India fell 4% as the government announced an up to 2% stake sale via an offer for sale at a 10% discount to its last close. Oil and Natural Gas Corp lost 3% on modest quarterly revenue and profit growth. [...]

Pakistan plans oil reserves, storage push as Hormuz constraints expose vulnerabilities

May 26, 2026 4:30

KARACHI: Pakistan plans to boost domestic storage for crude oil and refined products to increase its energy security, according to a government document that was shared with oil producers and some of the world’s leading trading firms. Despite depending on supplies through the Strait of Hormuz for up to 90% of its oil and liquefied natural gas imports, Pakistan has no strategic petroleum reserves. That has left it exposed to supply shocks provoked by the Iran war even as its lending programme with the International Monetary Fund (IMF) limits room for costly state-owned emergency stocks. According to the document reviewed by Reuters, the energy ministry is proposing to build strategic petroleum reserves as well as commercial storage through bonded terminals, refineries and oil marketing companies (OMCs). It is also pushing for more oil and gas exploration and production, upgrades to its refineries, and a consolidation of its downstream sector. “Pakistan’s oil security requires both emergency reserves and stronger local supply capacity,” the ministry said in the document. It shared the proposed framework with Saudi Aramco, Abu Dhabi National Oil Corp, Kuwait Petroleum Corp, QatarEnergy and PetroChina as well as oil trading firms Vitol and Trafigura and storage operator Vopak. Trafigura and Vitol declined to comment. The other companies and Pakistan’s petroleum ministry did not respond to Reuters’ requests for comment. Petroleum Minister Ali Pervaiz Malik said last week that building reserves was “easier said than done”, especially for a country in an IMF programme with severe fiscal challenges, but added the government was trying to move quickly from planning to implementation. Bonded storage, strategic reserves, and energy infrastructure Under the bonded storage plan, international suppliers and traders would be allowed to hold petroleum stocks, creating commercial inventories that could support domestic supply during emergencies. The government could also allow companies to store fuel for re-export. The document did not spell out details such as incentives, pricing, tax, foreign-exchange, offtake or ownership terms, or whether companies would be expected to invest in storage infrastructure. The ministry wants the bonded storage framework for suppliers to be finalised by June. In addition to its lack of strategic reserves, the document cited constrained port infrastructure, limited ship-to-ship capacity and insufficient storage among Pakistan’s vulnerabilities. The build-up of the government’s own strategic reserves would be paid for by a ring-fenced fund financed by Rs10 ($0.0359) per litre from the existing levy on petroleum, with allocations to start on July 1. The document says that allocation would generate about $700 million a year. Pakistan currently imposes a Rs58 per litre tax on diesel and Rs102.17 per litre on gasoline. Additionally, the government plans to require that refineries hold 15 days of crude stocks and oil marketing companies to maintain 30 days of finished products, with the rules to be phased in through refinery policy, margin revisions and downstream consolidation by June 2028. The document also calls for an energy infrastructure corridor around the city of Hub and Port Qasim, including single-point mooring, storage and pipeline connectivity, to reduce reliance on smaller, costlier shipments. [...]

India's fifth spot in global market cap list under threat as Taiwan closes in

May 26, 2026 4:18

India’s position as the fifth-largest global market by capitalisation is under threat as Taiwan closes in on the South Asian nation’s spot, powered largely by the rapid rise of chip-making major Taiwan Semiconductor Manufacturing Co. India’s equity market, low on AI-investment opportunities and plagued with weak annual earnings growth, is one of the worst-performing global markets this year, with the Nifty 50 and BSE Sensex down about 8.5% and 10.8%, respectively. The aggregate market capitalisation of stocks listed on the Taiwan stock exchange and OTC exchange stood at $4.89 trillion on Tuesday, just shy of the market value of India’s NSE-listed companies at $4.92 trillion, according to exchange data. The United States, China, Japan, and Hong Kong occupy the top four spots. “India has moved from being the darling of emerging markets to the runt of the litter among Asia’s Big Four,” global fund-flow and investment trends tracker Copley Fund Research said in its May report. Average weights in funds tracked by Copley now stand at 9.94%, the first time India has dipped below 10% since January 2021, and a far cry from the highs of 17.47% back in August 2024, the report said. “The Indian market does not offer direct equivalents to AI trade and companies such as TSMC, Nvidia or large-scale AI infrastructure businesses,” said Manish Bhandari, CEO and Portfolio Manager at Vallum Capital. TSMC shares have surged over 44% so far in 2026, helping push Taiwan’s benchmark index 50.3% higher this year. The chip stock now accounts for about 42% of the benchmark by market value. Geopolitical risk is another accelerator of foreign outflows, Bhandari said, citing oil-price volatility and India’s dependence on imported energy, the India-Pakistan tensions, U.S. tariff uncertainty as well as risks from erratic monsoons. Foreign portfolio investors have offloaded domestic stocks worth $24.18 billion in 2026 so far, surpassing 2025’s record annual sales. In contrast, foreign inflows into Taiwan stood at about $25 billion this year so far. The fall in India’s market cap is reflected in the decline in its share in the MSCI Global Standard index, which fell to 12.3% from a peak of 21% in September 2024, further curbing inflows as passive funds tracking the index limit their exposure to the South Asian nation’s stocks. “India is a diversified economy but Taiwan is concentrated on certain companies. These companies are attracting foreign flows at this time,” Tuhin Kanta Pandey, chief of the markets regulator Securities and Exchange Board of India (SEBI), said on Tuesday. [...]

US stocks add to gains on hopes for Iran deal

May 26, 2026 4:16

NEW YORK: Wall Street stocks climbed early Tuesday, extending an upbeat stretch as markets bet negotiators are nearing a resolution to the US-Iran conflict that would reopen the Strait of Hormuz. “The market is so hopeful for a deal that would open the Strait of Hormuz that it doesn’t care about the details and it is willing to trade on hope rather than wait for the outcome,” said Steve Sosnick of Interactive Brokers. About 10 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent to 50,735.99. The broad-based S&P 500 gained 0.6 percent to 7,516.44, while the tech-rich Nasdaq Composite Index gained 0.8 percent to 26,552.86. Optimism about a US-Iran deal has helped lift markets for weeks, leading to numerous records. Markets are shrugging off Iran’s accusations that the United States has breached its ceasefire after overnight US strikes targeting Iranian missile sites. Despite the strikes, Secretary of State Marco Rubio said on Tuesday that a deal remained within reach. “There were some talks going on in Qatar today, so we’ll see if we can make progress,” Rubio said. But Sosnick described the market’s default position as bullish, saying, “The stock market has not imposed a penalty for being wrong or for being overenthusiastic.” [...]

Indian govt to sell up to 2% stake in Coal India via offer for sale

May 26, 2026 4:13

The Indian government will sell a stake of up to 2% in Coal India via an offer for sale (OFS), an exchange filing by the company showed on Tuesday. The OFS consists of a base offer of up to a 1% equity stake in the state-run coal miner, with an option to sell an additional 1%. The floor price has been fixed at 412 rupees per share, which is about a 10% discount to Coal India’s last closing price. An OFS allows promoters or large shareholders of listed companies to sell shares through stock exchanges. The stake sale is part of the Indian government’s broader divestment and asset monetisation program. It currently holds a 63.13% stake in Coal India. The government has a divestment and asset monetization target of 800 billion rupees for fiscal year 2027, according to the Union Budget. Earlier this week, the government sold an 8% stake in Central Bank of India via an OFS. [...]

Brent crude jumps 4% as US strikes in Iran fuel Hormuz shipping fears

May 26, 2026 4:09

NEW YORK: Brent crude futures climbed about 4% on Tuesday after the U.S. military carried out strikes in Iran, adding to uncertainty over whether a deal would be reached soon to end the war and open up shipping flows through the Strait of Hormuz. Iran has effectively halted nearly all non-Iranian shipping into and out of the Gulf via the Strait of Hormuz since the war began in late February, choking off about a fifth of global oil and liquefied natural gas (LNG) flows. Global benchmark Brent rose $3.78, or 3.9%, to $99.92 a barrel at 10:50 a.m. ET (1450 GMT), while U.S. West Texas Intermediate (WTI) crude fell $2.88, or 3.0%, to $93.72. On Monday, Brent closed at its lowest since April 20 on expectations the U.S. and Iran would soon reach a deal. Those peace hopes were reflected in WTI prices on Tuesday since WTI did not settle on Monday due to the U.S. Memorial Day holiday. WTI was on track to close at its lowest since April 22 on Tuesday. Iran said the United States had violated the ceasefire after the U.S. conducted what it called defensive strikes in southern Iran, while U.S. Secretary of State Marco Rubio said that negotiating a deal to halt the conflict could “take a few days”. Iran’s foreign ministry said U.S. strikes in the southern Hormozgan province, where Iranian media reported sounds of explosions early on Tuesday, represented a “gross violation” of a tenuous ceasefire in place for nearly seven weeks. Both sides had indicated progress on a memorandum of understanding that could halt the war and restart shipping through the blockaded Strait of Hormuz, while giving negotiators 60 days to negotiate more complex issues including Iran’s nuclear program. “We are still waiting for more details on a potential deal,” said Giovanni Staunovo at UBS. “Meanwhile we see renewed tensions in the Middle East, while flows through the Strait remain restricted.” Iran officials in Doha for talks The U.S. strikes happened as Iran’s top negotiator and its foreign minister were in Doha for talks with Qatar’s prime minister on a potential deal with the U.S. to end the three-month-old war. “While differences between the parties have narrowed, any eventual peace deal would likely lead only to a gradual reopening, meaning the current tight supply outlook could take months to normalize,” said Ole Hansen at Saxo Bank. Tankers tracked passing through strait Nikkei, citing a Middle East diplomatic source, reported that Iran would clear mines from the Strait within a 30-day window under the potential agreement, after which vessels from all countries could navigate freely and safely, with Tehran also ending transit-fee collection. Ship-tracking data showed three LNG tankers passed through the Strait in recent days, heading to Pakistan, China and India, along with a supertanker carrying Iraqi crude to China that had been stranded for nearly three months. U.S. President Donald Trump on Monday repeated his demand that Iran hand over its enriched uranium so it could be destroyed. “It’s a sharp reminder that the deal could still collapse at the 11th hour, much like the five previous attempts before it,” said Tony Sycamore, a market analyst at IG. [...]

India's share benchmarks slip as Mideast peace deal hopes ebb

May 26, 2026 1:23

India’s equity benchmarks fell on Tuesday as fresh U.S. strikes on Iran dampened hopes of an imminent peace deal to end the three-month-long Iran war that has upended the inflation and growth outlook for Asia’s third-largest economy. The Nifty 50 fell 0.49% to 23,913.7 and the BSE Sensex lost 0.63% to 76,009.7. The indexes rose to two-week highs a day earlier after U.S. President Donald Trump claimed that Washington and Tehran had “largely negotiated” a memorandum of understanding on a peace deal. Since then, the U.S. struck Iran and U.S. Secretary of State Marco Rubio said negotiating a deal could “take a few days”. The uncertainty over a peace deal pushed Brent crude futures up 3.3% to $99.35 per barrel. “Although a few ships have traversed Hormuz in recent days, there is still considerable uncertainty about how (and) when the Strait of Hormuz will return to its normal pre-war operations,” HSBC said in a note. The Strait of Hormuz carried about a fifth of the world’s oil before the Iran war broke out. India, the world’s third-largest oil importer and consumer, has been reeling under the effect of rising crude prices and supply disruptions. On Tuesday, twelve of the 16 major sectors fell, with heavyweight financials leading losses with a 0.7% decline. The broader small-caps and mid-caps rose 0.4% and 0.5%, respectively. While benchmark Nifty 50 and Sensex have fallen 8.5% and 10.8% so far this year, small-caps and mid-caps have risen 3.1% and 3%, respectively. The outperformance of the broader markets has been supported by improving domestic liquidity, earnings recovery expectations and “normalisation in valuations after the earlier phase of excesses”, Chandraprakash Padiyar, senior fund manager at Tata Mutual Fund, said. Among shares, Gujarat Mineral Development Corp jumped 5.7% after the Quad nations announced a critical minerals framework. [...]

Indian rupee slips with Asian peers as hopes of imminent US-Iran peace deal falter

May 26, 2026 12:49

MUMBAI: The Indian rupee slipped on Tuesday as crude oil prices rebounded on waning optimism about the chances of an imminent U.S.-Iran peace deal. The rupee dipped nearly 0.5% to end at 95.68 per dollar, snapping a three-session winning streak.The drop was smoothened by dollar sales from state-run banks, most likely on behalf of the Reserve Bank of India. Asian currencies were mostly weaker as well, with the rupee’s oil-sensitive peers the Indonesian rupiah and Philippine peso down about 0.2% and 0.5%, respectively, as Brent crude futures rose more than 3% to nearly $100 per barrel. Indian equities fell and bond yields rose as investors took in news of fresh U.S. military strikes on Iran and after U.S. Secretary of State Marco Rubio said that negotiating a peace deal could “take a few days.” Until both sides formally announce a deal, investors will likely trade cautiously, given the inflationary pressures that are building, analysts at MUFG said in a note. The risk of higher inflation has prompted analysts at MUFG, ANZ and Standard Chartered to pencil in a rate hike by the Reserve Bank of India at its upcoming policy meeting on June 5. On the day, India’s 10-year bond yield was slightly higher at 7.038% while the 1-year overnight index swap rate, a gauge of market expectations on central bank policy, rose 3 bps to 6.19% - signalling that traders are pricing in nearly 100 bps of rate hikes over the next 12 months. Consensus economist expectations, though, are for the central bank to keep policy rates unchanged. The RBI has also been considering measures to shore up dollar inflows and banks have sought subsidised forex hedging costs from the Reserve Bank of India to raise overseas borrowings, Reuters reported earlier. Meanwhile, the RBI’s three-year dollar/rupee buy-sell swap drew strong demand on Tuesday. Far tenor dollar-rupee forward premiums fell after the auction results were announced. [...]

India cancels soymeal export deals, turns to African soybean imports, sources say

May 26, 2026 9:36

MUMBAI: Indian traders have cancelled 25,000 metric tons of soymeal export contracts for the first time since 2021 and booked 80,000 tons of imports from African countries after soaring domestic ‌prices reversed trade flows, trade sources said. The cancellations are likely to help soymeal suppliers in North and South America boost shipments to Asian buyers that traditionally source from India. India’s soybean purchases are also allowing African exporters to sell the oilseed at a hefty premium to global benchmark prices . Soymeal, a widely used livestock feed ingredient, is produced when soybeans are crushed for oil extraction. The sudden jump in domestic soybean prices pushed up soymeal costs, making it difficult for ⁠traders to fulfil export commitments, said two dealers with global trade houses, who declined to be named publicly because they were not authorised to speak to the media. “It wasn’t possible for sellers to absorb the $200 per ton increase, so they mutually agreed with buyers to cancel the contracts for May and June shipments,” one of the sources said. The cancellations, or washouts, which have not been reported previously, are rare in the soymeal trade, as sharp price swings are relatively uncommon. The washouts did not involve penalties. Local soymeal prices jumped 41% in a month to 66,000 rupees per metric ton, their highest level in four years, amid tight supplies due to a drop in soybean production. Soybeans firm on higher oil prices; wheat, corn gain The rally pushed Indian soymeal export offers for June loading shipments to about $695 per metric ton free on board, ‌up ⁠from around $475 a month ago, the sources said. India is not receiving new soymeal export orders because of elevated prices, prompting traders to step up imports from African countries, said Vinod Jain, founder of agricultural goods exporter Suraj Impex. India’s soybean imports could rise to a record 800,000 tons in the year to September 2026, Jain said. India imported about 2,000 tons in the previous year, according to data ⁠compiled by the Soybean Processors Association of India. India permits imports only of non-genetically-modified soybeans, restricting supplies to a handful of African nations - including Benin, Niger, Togo and Nigeria - where non-GM beans command a steep premium over genetically modified varieties. Traders this month bought African soybeans at $700 ⁠to $760 per ton on a cost, insurance and freight basis for June and July shipments to India, said Manoj Agrawal, managing director of Maharashtra Oil Extractions, a soymeal producer and exporter. Traders have bought at least 80,000 tons of soybeans this ⁠month, with purchases continuing as local soybean prices remain firm, one of the sources said. Soybean supplies are expected to remain tight until the new season’s crop arrives in September and October, prompting traders to import from African countries, said Ashok Bhutada, a soybean processor based in Latur, Maharashtra state. [...]

April shipments of foreign-branded phones in China up 1.8% Y/Y, CAICT data shows

May 26, 2026 9:28

BEIJING: Shipments of foreign-branded mobile phones in China for ‌April, including Apple’s iPhones, were up 1.8% from the same month last year, Reuters calculations ⁠based on data released by a government-affiliated research firm on Tuesday showed. The data from the China Academy of Information and Communications Technology showed shipments ‌of ⁠foreign-branded phones within China were at 3.59 million units in April. Overall phone ⁠shipments in China last month were up 2.8% year-on-year to ⁠25.73 million units, according to the data. [...]

China restricts overseas travel for top AI talent at Alibaba and DeepSeek, Bloomberg News reports

May 26, 2026 8:55

China is restricting overseas travel for ‌top professionals involved in advanced and strategically important AI work at ⁠firms like Alibaba Group Holding and DeepSeek, Bloomberg News reported on Tuesday, citing people familiar with ‌the ⁠matter. Alibaba enters Pakistan’s fintech space: SECP grants BNPL licence to KTPL The professionals would need approval from relevant authorities before ⁠taking a trip abroad, the report ⁠said. Reuters couldn’t immediately verify the ⁠report. [...]

Freelance export earnings set to hit USD1bn mark: SBP

May 27, 2026 10:14

KARACHI: With over USD950 million in export receipts during the first 10 months of the current fiscal year, Pakistan is nearing the landmark USD1 billion milestone in freelance export earnings, as the country’s digital workforce continues to outperform regional competitors despite global and domestic economic challenges. According to the State Bank of Pakistan (SBP), export receipts generated through freelancing in computer and information services surged to USD959 million during July-April, compared to USD642 million recorded during the same period of the previous fiscal year, reflecting a year-on-year growth of 49 percent, or an increase of USD317 million. READ ALSO: Rise in freelancers’ earnings The growth and performance of freelancers is much better than India, China, the UAE and several other countries. The strong inflow highlights the increasing contribution of Pakistan’s freelance industry to the national economy and the growing global demand for Pakistani digital services. Industry sources said that one billion dollar earning landmark is likely to achieve in the first eleven months of this fiscal year and this achievement is possible through the collective efforts of the Ministry of IT and Telecommunication, the Pakistan Software Export Board, the State Bank and the Special Investment Facilitation Council (SIFC). Dr Imran Batada, the newly appointed President and CEO of Pakistan Freelancers Association, said the growth in freelancers’ income was driven by the increasing participation of Pakistani freelancers on various freelancing platforms, including Upwork, Fiverr, and social media platforms. He noted that awareness about freelancing has increased immensely among Pakistanis over the past few years, encouraging many individuals to acquire skills through online learning, private institutions, government-led training programs, and initiatives by various NGOs. Pakistan’s freelancing community is estimated at around 3 million people, and this number should continue to grow in a structured manner through collaboration among the government, banking companies, and other stakeholders, said Dr Imran Batada, a CIO who has received the Global CIO Award five times and has produced over 25,000 freelancers. He further emphasised that Pakistani freelancers should continuously upgrade their skills to maintain their competitiveness on global freelancing platforms. He also urged students and young professionals to focus on acquiring advanced AI and soft skills. Copyright Business Recorder, 2026 [...]

Samsung plans $1.5 billion chip testing plant in Vietnam, document shows

May 27, 2026 8:23

HANOI: Samsung Electronics plans to invest 39 trillion dong ($1.5 billion) in Vietnam to build a semiconductor testing plant, its proposal document showed, an expansion that will help ease a global shortage of memory chips driven by surging AI demand. The new factory, for which construction has already begun in an industrial park 60 kilometres (37 miles) north of Hanoi, is slated to start operations in November 2027, the document sent to local authorities in April and reviewed by Reuters showed. It would be Samsung’s first chip testing factory in Vietnam. Robust memory chip demand from AI data center operators has severely constrained supplies to industries such as smartphones, laptops and automobiles. The factory would focus on legacy chips, the document showed. While less critical for AI supply chains, mature memory chips are also in severe shortage as major producers dedicate more of their production capacity to manufacturing AI chips. The new plant would have annual capacity to deliver 153.3 billion gigabits (Gb) of dynamic random-access memory (DRAM) chips and another 255.6 billion Gb of NAND memory chips, according to the proposal which was sent to obtain environmental permits for the new site. Also read: South Korean shares end higher as Samsung strike worries ease Details on the size of Samsung’s investment in the project, production capacity and production timeline have not been previously reported. Samsung declined to comment. The People’s Committee of Thai Nguyen province, which hosts the industrial park, did not respond to a request for comment. Major chip back-end hub The investment was approved by Vietnamese authorities in March and Samsung intends to reinvest profits from the project, “if any”, up to about $2.5 billion, for a potential second factory, the document said. It is not clear whether the factory has obtained all necessary permits or talks are still ongoing with the authorities. Companies in Vietnam often begin initial ground works on building sites while they await environmental permits. More than 200 Samsung engineers and staff have been working on the site of the project at least since April, said a person briefed on the matter, who declined to be identified because the information is private. Reuters reporters observed heavy construction vehicles and workers on the site during a visit this week. A security guard confirmed the site would host a Samsung semiconductor plant. The South Korean group is already the largest foreign investor in Vietnam, having committed more than $23 billion over decades to multiple facilities. The new plant is being built next to a large complex where Samsung Electronics produces smartphones and tablets. Vietnam is also a major player in the global semiconductor back-end industry, which is more labour-intensive and less sophisticated than chip fabrication. The country hosts assembling, packaging and testing plants of several multinationals, including Intel, Amkor Technology and Hana Micron. Testing is the final process in chipmaking, in which semiconductors previously assembled and packaged are checked for possible defects before shipment, the document showed. [...]

Oil pulls back as traders look for progress on US-Iran talks

May 27, 2026 6:21

BEIJING: Oil prices pulled back from recent highs on Wednesday, erasing some of the previous day’s 4% gain as traders sought clarity on complex negotiations between Iran and the US after renewed hostilities set back efforts to reopen the Strait of Hormuz. Brent crude futures fell $1.42, or 1.43%, to $98.16 a barrel as of 0253 GMT, while U.S. West Texas Intermediate (WTI) crude lost $1.66, or 1.77%, to $92.23 a barrel. Oil surged on Tuesday after the US military carried out new strikes in Iran, hurting hopes over the weekend that the United States and Iran would reach an agreement to end the war. Iran said on Tuesday the United States had violated a ceasefire by striking targets near the contested Strait of Hormuz, while the US said its strikes were defensive in nature. Also read: Oil prices settle higher Following an April ceasefire in the three-month long conflict, both sides indicated they had made progress on talks toward reopening the Strait, a key conduit for global oil and gas flows. But rising hostilities now threaten those negotiations. Israel ramped up bombing on Lebanon on Tuesday, further straining peace efforts. Nevertheless, the news that some LNG tankers have passed through the strait in recent days lifted expectations that the waterway might reopen soon, which would add to global supply. [...]

Copper hits near two-week high, aluminium hovers around four-year peak

May 27, 2026 6:09

London copper prices rose to a near two-week high on Wednesday, as lower oil prices eased fears of inflation and slowing economic growth, while aluminum hovered near its highest level in more than four years on supply concerns. Three-month copper on the London Metal Exchange was up 0.5% at $13,688.50 a metric ton by 0334 GMT, after hitting its highest since May 15 earlier in the session. The most-traded copper contract on the Shanghai Futures Exchange was unchanged at 105,160 yuan ($15,495) a ton. Brent crude oil prices fell and were trading near their lowest in more than a month this week, easing some concerns over inflation and a global slowdown, supporting demand for copper, which is widely considered a bellwether for the health of the global economy. Hopes of an AI boom that is expected to require large amounts of copper for data centres are also supporting sentiment for the base metal. Also read: London copper ticks down as markets assess US-Iran peace talks “The key tension playing out in the markets now is whether this AI buildout narrative can continue to diverge from the inflation fears triggered by the U.S.-Iran war and its dramatic consequences,” said Ilya Spivak, head of global macro at Tastylive. Iran said on Tuesday the U.S. had violated a ceasefire by striking targets near the contested Strait of Hormuz, potentially complicating efforts to bring the war to a close. Three-month aluminium on the London Metal Exchange rose 0.5% to $3,689 a metric ton. Prices rose to their highest since March 24, 2022 in the previous session. Aluminium was supported by rising prices for the feedstock alumina and a tightened market due to reduced supply from Gulf producers. The September alumina futures on the Shanghai Futures Exchange rose over 1% to their highest since April 28 earlier in the session. Reduced aluminium supply from Gulf producers due to the conflict has also kept the premium of the LME aluminium cash contract against the benchmark at $73 a ton as of Tuesday. Elsewhere on the LME, zinc rose 0.3%, lead was up 0.1%, nickel gained 0.5% and tin climbed 0.8%. Nickel hit its highest level since May 14, while lead hovered near a four-month high. Among other SHFE metals, aluminium ticked 0.8% higher, zinc was down 0.7%, lead rose 0.3%, nickel gained 1.9% and tin added 0.6%. [...]

Goldman Sachs lifts S&P 500 year-end target to 8,000 on strong earnings outlook

May 27, 2026 5:56

Brent crude jumps 4pc

May 27, 2026 12:26

NEW YORK: Brent crude futures climbed about 4 percent on Tuesday after the US military carried out strikes in Iran, adding to uncertainty over whether a deal would be reached soon to end the war and open up shipping flows through the Strait of Hormuz. Iran has effectively halted nearly all non-Iranian shipping into and out of the Gulf via the Strait of Hormuz since the war began in late February, choking off about a fifth of global oil and liquefied natural gas (LNG) flows. Global benchmark Brent rose $3.78, or 3.9 percent, to USD99.92 a barrel at 10:50 a.m. ET (1450 GMT), while US West Texas Intermediate (WTI) crude fell USD2.88, or 3.0 percent, to USD93.72. READ MORE: Oil tumbles nearly 7pc On Monday, Brent closed at its lowest since April 20 on expectations the US and Iran would soon reach a deal. Those peace hopes were reflected in WTI prices on Tuesday since WTI did not settle on Monday due to the US Memorial Day holiday. WTI was on track to close at its lowest since April 22 on Tuesday. Iran said the United States had violated the ceasefire after the US conducted what it called defensive strikes in southern Iran, while US Secretary of State Marco Rubio said that negotiating a deal to halt the conflict could “take a few days”. Iran’s foreign ministry said US strikes in the southern Hormozgan province, where Iranian media reported sounds of explosions early on Tuesday, represented a “gross violation” of a tenuous ceasefire in place for nearly seven weeks. Both sides had indicated progress on a memorandum of understanding that could halt the war and restart shipping through the blockaded Strait of Hormuz, while giving negotiators 60 days to negotiate more complex issues including Iran’s nuclear program. “We are still waiting for more details on a potential deal,” said Giovanni Staunovo at UBS. “Meanwhile we see renewed tensions in the Middle East, while flows through the Strait remain restricted.” Iran officials in Doha for talks The US strikes happened as Iran’s top negotiator and its foreign minister were in Doha for talks with Qatar’s prime minister on a potential deal with the US to end the three-month-old war. “While differences between the parties have narrowed, any eventual peace deal would likely lead only to a gradual reopening, meaning the current tight supply outlook could take months to normalize,” said Ole Hansen at Saxo Bank. Tankers tracked passing through Strait Nikkei, citing a Middle East diplomatic source, reported that Iran would clear mines from the Strait within a 30-day window under the potential agreement, after which vessels from all countries could navigate freely and safely, with Tehran also ending transit-fee collection. [...]

CM briefs AIIB chief investment officer about development projects

May 26, 2026 10:13

LAHORE: Chief Investment Officer of the Asian Infrastructure Investment Bank (AIIB) Konstantin Limitovskiy called on Punjab Chief Minister Maryam Nawaz Sharif, during which matters of mutual interest and enhancement of institutional cooperation came under discussion. AIIB Director General Xiaohong Yang was also present in the meeting. The chief minister briefed the delegation about record development projects being undertaken in Punjab and offered the Asian Infrastructure Investment Bank partnership in development projects in the province. The CM said the Punjab government’s “Apni Chhat, Apna Ghar” programme was appreciated during the 13th session of the Baku Urban Forum, adding that more than 100,000 houses had been constructed within one year under the programme. She said electric bus and e-bike programmes were being successfully implemented across every part of Punjab. She appreciated AIIB’s cooperation on the signing of an MoU for improvement of water and sanitation infrastructure in Lahore, saying the mutual agreements reflected the bank’s confidence in Punjab’s development and reform agenda. The CM said the Lahore Wastewater and Drainage Management Project, including the sewerage network and wastewater treatment plant at Babu Sabu, would help improve the drainage system. Maryam Nawaz said AIIB’s support for the proposed surface water treatment plant at the BRBD Canal was valuable and added that cooperation with the bank would bring positive changes in urban culture. She said Punjab was moving rapidly towards environmental protection and improvement in public health, adding that the province was heading towards a new model of urban governance. “Data planning, technology monitoring and climate-smart infrastructure will improve the lifestyle of the people,” she said, adding that provision of clean water, healthcare and an efficient transport system were among the priorities of the Punjab government. The chief minister also welcomed AIIB Chief Investment Officer Konstantin Limitovskiy to Lahore, describing the city as Pakistan’s cultural hub, and said the Punjab government valued its partnership with the Asian Infrastructure Investment Bank. Copyright Business Recorder, 2026 [...]

PVMA holds meeting: Challenges confronting ghee, cooking oil industry discussed in detail

May 26, 2026 10:13

KARACHI: An Extraordinary General Body Meeting of the Pakistan Vanaspati Manufacturers Association (PVMA) was held under the chairmanship of Sheikh Umer Rehan, where participants discussed in detail the challenges confronting the ghee and cooking oil industry, government policies, raw material situation, taxation, regulatory matters, and the prevailing economic conditions affecting the sector, particularly difficulties related to freight and transportation costs. According to PVMA the meeting was attended by PVMA Senior Vice Chairman Asjad Arif, Vice Chairman Sheikh Khalid Islam, Special Assistant to the Chief Minister Punjab on Food Security Salma Butt, prominent business leader and former provincial minister S M Tanveer, along with industrialists and association members from across the country. Various agenda items related to the industry were discussed in detail, while participants also deliberated on future strategies for the sector. Speaking on the occasion, Chairman PVMA Sheikh Umer Rehan said that the ghee and cooking oil industry is a key pillar of the country’s food supply chain. However, he noted that the sector is currently under severe pressure due to prevailing economic conditions, rising production costs, fluctuations in imported raw material prices, frequent changes in petroleum prices causing instability in freight charges, and various regulatory challenges. He stressed that continuous engagement with the government and relevant institutions, along with effective policymaking, was essential for placing the industry on sustainable footing. He further emphasized that the industry remains fully committed to providing quality and safe food products to consumers, but rising business costs and policy instability are adversely affecting industrial activities. Sheikh Umer Rehan stated that if the industry is provided with a conducive business environment, it would not only increase investment but also create new employment opportunities. Addressing the meeting, Salma Butt said that Punjab Chief Minister Maryam Nawaz Sharif has a clear policy to promote industrialization and facilitate the business community in order to strengthen the economy. She said the Punjab government believes in working closely with the private sector for food security, quality food standards, and the development of the food industry. She assured participants that the issues faced by industrialists would be taken up with the relevant forums on a priority basis to further improve the business environment. Copyright Business Recorder, 2026 [...]

Indonesian consulate hosts business luncheon

May 26, 2026 10:13

KARACHI: The Consulate General of the Republic of Indonesia in Karachi hosted a business lunch titled ‘Taste of Opportunity: A Deep Dive into Indonesia Trade and Investment’ at Wisma Indonesia, Karachi, bringing together around 30 prominent business leaders, investors, and representatives of chambers, trade associations, and business councils in Pakistan. The event was attended by distinguished members of the business community, including Saquib Fayyaz Magoon, Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Acting President of Karachi Chamber of Commerce and Industry (KCCI) Mohammad Raza, and other leading stakeholders from various sectors. The gathering reflected the growing interest of Pakistan’s private sector in expanding economic engagement with Indonesia. In his welcoming remarks, the Consul General of the Republic of Indonesia in Karachi, Mudzakir, emphasized that the event was designed as a warm and practical platform for knowledge sharing, direct dialogue, and business follow-up between Indonesian and Pakistani stakeholders. He highlighted the strong historical ties and economic complementarities between Indonesia and Pakistan, which should be translated into more concrete trade, investment, and business-to-business cooperation. The Consul General also underlined the importance of strengthening economic resilience amid global and regional uncertainties affecting supply chains, energy security, and market confidence. He further stated that Indonesia remains open for partnership, offering opportunities in downstream industries, renewable energy, food security, infrastructure, manufacturing, digital economy, Halal industry, and tourism. Indonesia recorded 5.11 percent economic growth in 2025 and 5.61 percent growth in the first quarter of 2026, supported by strong domestic demand, investment, and continued reforms to improve the business climate. Ricky Eka Virgana Ichsan, Director for South and Central Asia, Ministry of Foreign Affairs of the Republic of Indonesia, reaffirmed the Indonesian Government’s strong attention to economic diplomacy with Pakistan. He encouraged both sides to strengthen commercial connectivity, diversify trade, explore investment opportunities, and make better use of business platforms to bring the two private sectors closer. Speaking on behalf of FPCCI, Saquib Fayyaz Magoon appreciated the initiative of the Indonesian Consulate General and highlighted the significant untapped potential between Indonesia and Pakistan. He stressed the importance of stronger private sector collaboration and more focused engagement in sectors such as Halal products, agriculture, textiles, technology, infrastructure, and investment. The programme featured an Indonesia updates session by Dr. Ahmad Syofian, Consul for Economic Affairs, covering KJRI Karachi’s upcoming economic promotion agenda, including Trade Expo Indonesia 2026, D-8 Halal Expo Indonesia 2026, the planned Indonesia–Pakistan Investment Forum 2026, Indonesia’s integrated promotion at ICPF, and the newly introduced Connect Indonesia platform. [...]

BP ousts chairman over ‘serious’ governance concerns

May 26, 2026 10:13

LONDON: British oil giant BP unexpectedly removed Albert Manifold as chairman on Tuesday after less than one year in the role, citing “serious concerns” about governance standards, oversight and conduct at the company. “The board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action,” Amanda Blanc, a senior independent director at BP, said in a statement. The company did not give specific details of the alleged conduct and declined to comment further. The news sent BP’s share price sliding nearly six percent, topping the losers’ board in the FTSE 100 index in afternoon trading at the London stock exchange. Board member Ian Tyler has been appointed interim chairman with immediate effect. Manifold became chairman in October last year as BP focused on pivoting back to its more profitable oil and gas business, slashing clean energy investments. “Albert has helped bring a welcome focus and pace to BP’s transformation,” Blanc said in the statement. However, he “should no longer serve as chair and director with immediate effect. This follows serious concerns raised to the board”, the group added. According to anonymous sources quoted by the Financial Times, other directors viewed Manifold as too aggressive and believed he exerted excessive control over the company. BP faced a shareholder backlash at its annual meeting last month as investors rejected a resolution that would have reduced its climate reporting requirements. Some of the investor discontent was directed at Manifold, with just 82 percent of shareholders voting in favour of his election — below the near-unanimous support typically received by directors. “He was considered a hands-on and controversial chair,” said Kathleen Brooks, research director at trading group XTB. “The fact that Manifold has left so soon raises genuine concerns about HR policies at BP, and the corporate culture,” said Brooks, adding that the lack of stability signals “bad news” for shareholders. His departure is the latest leadership shakeup after company outsider Meg O’Neill became chief executive in April, with a mission of implementing a recovery plan for the group. BP reported a sharp increase in profits in the first quarter as crude oil prices soared amid the Middle East war. “The board and leadership team have deep conviction in the strategic direction we have laid out, and the company is moving at pace to deliver it,” Tyler said Tuesday. “BP is building a track record of strong underlying operational performance and a tight focus on financial discipline — all in the pursuit of growing shareholder value and returns,” he said. Manifold had replaced Helge Lund, who departed after a major reset at the British energy giant that saw it shelve carbon-reduction targets to focus on fossil fuel output. Under Lund, BP chief executive Bob Dudley departed in early 2020, replaced by Bernard Looney, who was sacked over his failure to disclose past relationships with colleagues. “Unfortunately this is not the first time that BP has been embroiled in boardroom controversy, which could be one of the reasons for the outsize share price fall,” Richard Hunter, head of markets at Interactive Investor, told AFP on Tuesday. [...]

Govt urged to evolve strategy aimed at developing local industry

May 26, 2026 10:13

ISLAMABAD: The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) welcomes constructive debate on the upcoming Auto and Auto Parts Manufacturing Policy 2026–2031. However, the suggestion that local parts manufacturers are merely protecting legacy assemblers does not reflect the ground realities of Pakistan’s automotive industry. PAAPAM is not opposed to new entrants, Chinese brands, Korean brands, BEVs, HEVs, PHEVs, REEVs, or technological transformation. Our members are prepared to supply all assemblers and all technologies. The real question is whether the upcoming policy will build manufacturing capability inside Pakistan or simply make imported kits and used vehicles easier to sell. Usman Aslam Malik, Chairman PAAPAM, stated, “Pakistan must transition toward advanced mobility and electric vehicles, but this transition should strengthen local manufacturing instead of replacing it with import dependency. Localization is not resistance to change; it is the foundation of sustainable industrial growth.” It is also incorrect to assume that Pakistan’s auto parts industry has no role in the EV ecosystem. A significant portion of components remains common across ICE, hybrid, and electric platforms, including glass, tyres, seats, trim, rubber parts, weatherstrips, body components, suspension systems, braking parts, lighting, wiring, plastic parts, fasteners, sheet metal, tooling, and many other systems. Pakistani vendors already manufacture several of these components under strict OEM standards. Shehryar Qadir, Senior Vice Chairman PAAPAM, added, “The issue is not whether Pakistani vendors can manufacture EV-relevant parts. The issue is why new entrants are not being meaningfully encouraged or obligated to source these components locally.” The experience of recent policies is clear. While Pakistan attracted new assemblers and increased model variety, deep localization did not follow. Where import concessions existed without enforceable localization requirements, the commercial preference naturally shifted toward imported kits instead of local vendor development. This is not industrialization; it is import-based assembly. For this reason, PAAPAM believes localization commitments must be binding rather than symbolic. Incentives should be linked to model-wise localization plans, vendor development, technology transfer, audited local content targets, and measurable compliance mechanisms. Without both incentives and accountability, policies unintentionally reward short-term import dependence over long-term industrial capability. PAAPAM supports consumer affordability, but affordability cannot come at the cost of dismantling the local supply chain. Vehicle pricing in Pakistan is influenced by exchange-rate depreciation, taxation, energy costs, financing constraints, interest rates, and production volumes. Temporary tariff relaxations or unrestricted used-car imports may create short-term price relief, but they weaken domestic production, reduce employment, increase foreign-exchange pressure, and discourage future localization. Used vehicle imports are particularly damaging because they generate no vendor orders, no tooling investment, no technology transfer, no manufacturing employment, and no long-term industrial ecosystem. No serious automotive manufacturing economy treats large-scale used imports as a sustainable industrial policy. PAAPAM’s position remains straightforward: support technology transition, support BEVs, support competition, support exports, and support new entrants — but ensure every concession is tied to local value addition. EV incentives should help establish a local EV supply chain instead of merely subsidizing imported CKD kits. Similarly, PHEVs and REEVs should not be treated identically to pure BEVs where such treatment undermines localization objectives and fiscal balance. Copyright Business Recorder, 2026 [...]

Calcium carbide: New customs values fixed

May 26, 2026 10:13

ISLAMABAD: The Directorate General of Customs Valuation Karachi has fixed new customs values on the import of calcium carbide, an industrial chemical, used in the manufacturing of gases and other industrial products. In this regard, the directorate has issued a valuation ruling number 2083 of 2026 for accurate assessment of duties and taxes. The Customs values of Calcium Carbide were earlier determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1824-2023. READ MORE: Customs values on paraffin wax, calcium carbide revised The Valuation Ruling has remained in the field formations for considerable time and required review in view of prevailing international market prices, import trends, declared values and current valuation evidence. Several representations were also received from different stakeholders regarding re-determination of Customs values of Calcium Carbide, wherein they requested that the Customs values of the subject goods may be reviewed in line with prevailing international prices, current import trends and market Calcium Carbide is an industrial chemical generally used in the manufacturing of Acetylene gas and other industrial applications. Therefore, in order to align the Customs values of the subject goods with current international and import market trends, an exercise was initiated by this Directorate for fresh determination of Customs values under Section 25A of the Customs Act, 1969. A meeting for determination of Customs values of Calcium Carbide was held which was attended by the relevant stakeholders. The viewpoints of the participants were heard in detail and they were requested to submit relevant documents in support of their contentions. Several representations received from the stakeholders were also examined. The stakeholders requested re-determination of Customs values of Calcium Carbide in view of prevailing international prices, current import trends and market conditions. For the purpose of valuation, import data of Calcium Carbide was retrieved and examined. The data was scrutinized with reference to declared values, assessed values, origin, quantity, description and relevant time period. The available record reflected variation in declared values with respect to different time periods; however, relevant comparable import data was available and the same was considered for determination of customs values. After considering the available import data, stakeholders’ submissions and other relevant information, the Customs values of Calcium Carbide have been determined accordingly, the directorate added. After considering the available comparable import data, stakeholders’ submissions and other relevant information, the Customs values of Calcium Carbide have been determined under Section 25(6) of the Customs Act, 1969. 4. Customs Values for Calcium Carbide - hereinafter specified shall be assessed to duty/taxes at following customs values. Copyright Business Recorder, 2026 [...]

Customs values on 13 types of RO membrane & UF modules revised

May 26, 2026 10:13

ISLAMABAD: The Directorate General of Customs Valuation Karachi has revised customs values on the import of 13 types of Reverse Osmosis (RO) membrane and Ultra Filtration (UF) modules from USA, Europe, China and Far East. According to a new valuation ruling, the customs values of Reverse Osmosis (RO) membrane and UF Modules were determined under Valuation Ruling No.1652-2022. However, the said valuation ruling is now almost four years old. And international market prices of the subject goods have changed during this period. Therefore, a preliminary analysis of import data, including declared values, assessed values, and prevailing market prices” was conducted to re-determine the customs values of the subject goods under Section 25A of the Customs Act. 1969. The viewpoints of the participants were heard in detail, and the stakeholders were requested to submit documentary evidence to substantiate their contentions. Customs values of Reverse Osmosis (RO) Membrane and Ultra Filtration (UF) Modules have been determined for assessment of duties and taxes, it added. The values given are for the following well known international brands: Dupont, Hydranaustic, Toray, GE, LG Engy, EZMembranes, FilmTec, KochUSA, Trisp, Kristal, Osmonics, Canature, FlexTech, Kamatsu/Kusatsu, Applied Membranes, etc. Following Brands: Vontron, Keensen, Hynamo, Frotech, Morui, Huisidun shall be assessed under section 25 of the Customs Act, 1969 by the Collectorates, but in no case such assessments shall be less than USD 8.00/kg. Other low-end brands shall be assessed under section 25 of the Customs Act, 1969 by the Collectorates but in no case such assessments shall be less than USD 4.30/kg. Copyright Business Recorder, 2026 [...]

Fauji Fertilizer inks $1.12bn project under CPEC 2.0

May 26, 2026 4:33

Pakistan’s leading fertilizer manufacturer Fauji Fertilizer Company Limited (FFC) has signed the Front-End Engineering Design (FEED) agreement with a Chinese company, for what it termed as Pakistan’s first coal-to-fertilizer project under the China-Pakistan Economic Corridor (CPEC) 2.0 framework. The company shared the development in a social media post on Saturday, stating that the agreement was signed with Hualu Engineering and Technology Co. Ltd in China on May 24, 2026. “With an investment of $1.12 billion, the project is expected to produce 717,000 tons of urea annually while utilizing approximately 2.1 million tons of indigenous coal each year - strengthening fertilizer security, enabling value creation from local resources, and supporting Pakistan’s long-term industrial growth,” FFC said. The company added that the plant is planned for commissioning by 2030-31 and “reflects FFC’s continued commitment to innovation, self-reliance, and sustainable economic progress for Pakistan”. The development comes as Pakistan seeks to attract fresh Chinese investment under the second phase of CPEC. Both countries have reached a ‌new broad consensus on deepening their strategic partnership, according to a joint ⁠statement issued by the countries at the end of Prime Minister Shehbaz Shari’s visit to Beijing. The countries have ‌agreed ⁠to promote “high-quality development” of the China-Pakistan Economic Corridor and welcome ⁠the participation of third parties in its ⁠development, the statement said. [...]

Pakistan plans oil reserves, storage push as Hormuz constraints expose vulnerabilities

May 26, 2026 4:30

CDF Munir celebrates Eid with troops in Balochistan, vows action against terrorism

May 27, 2026 11:26

Chief of Defense Forces (CDF) Field Marshal Syed Asim Munir visited Zhob district in Balochistan on Wednesday to celebrate Eid-ul-Adha with frontline troops deployed along Pakistan’s western frontiers, the military’s media wing said. According to the Inter-Services Public Relations (ISPR), the visit began with Eid prayers and special supplications for the country’s peace, stability and prosperity, as well as for the martyrs who sacrificed their lives in defence of the nation. The army chief extended Eid greetings to officers and soldiers and praised their “exceptional grit, unwavering resolve, operational preparedness and steadfast vigilance” in the fight against militancy. READ MORE: Field Marshal Asim Munir’s Iran visit ‘highly productive’: ISPR He paid tribute to troops for their courage and sacrifices in safeguarding the country against terrorism and hostile threats. Referring to the recent Quetta attack, Munir said the “cowardly terrorist incident” was orchestrated by “Indian-sponsored Fitna-al-Hindustan and its proxies,” adding that such acts could not weaken the resolve of Pakistan’s armed forces or the nation. He said the morale of troops and the people of Pakistan remained unshaken and reiterated that the armed forces, in coordination with law enforcement agencies and the people of Balochistan, would continue pursuing “facilitators, abettors and perpetrators of terrorism with full force.” Upon arrival, the field marshal was received by the Commander Quetta Corps. He also laid a floral wreath at Yadgar-e-Shuhada and paid homage to soldiers who embraced martyrdom in defence of the country. [...]

BOJ's net income falls due to higher interest payments on reserves

May 27, 2026 9:01

TOKYO: The Bank of Japan saw net income fall in fiscal 2025 as rising interest rates boosted payments made on excess reserves parked with the central bank, its earnings data showed on Wednesday. Since exiting a decade-long, massive stimulus programme in 2024, the central bank has raised its short-term policy rate several times, including in December to 0.75% from 0.5%. The BOJ thus pays 0.75% interest on the excess reserves financial institutions park with the central bank under a programme aimed at controlling money market rates around its policy rate. The BOJ spent 2.7 trillion yen ($16.95 billion) on such interest payments in the fiscal year ending in March, much higher than the previous year’s 1.3 trillion yen and exceeding the 2.5 trillion yen interest it earned from its government bond holdings, the data showed. Also read: BOJ warns of financial system risks from investment fund activity It was the first time the BOJ’s interest payment on reserves exceeded the amount of interest earned from its bond holdings, highlighting the cost of normalising monetary policy. As a result, the BOJ saw net income shrink to 1.9 trillion yen in fiscal 2025 from 2.3 trillion yen in the previous year, the data showed. Aside from raising its short-term policy rate, the BOJ has been slowing bond purchases to scale back its massive balance sheet as part of its policy normalisation efforts. Due in part to shrinking government bond holdings, the BOJ’s total asset balance fell 9.1% as of the end of fiscal 2025 from a year earlier, the data showed. Japan’s fiscal year runs from April to March of the following year. [...]

China, HK shares end lower as AI, property offset strong profit data

May 27, 2026 8:56

Israel says killed new chief of Hamas armed wing in Gaza strike

May 27, 2026 8:48

JERUSALEM: Israel said on Wednesday it had killed the new head of Hamas’s armed wing in Gaza, Mohammed Odeh, after killing his predecessor earlier this month despite an ongoing ceasefire. Israeli Defence Minister Israel Katz said the “commander of the armed wing of the Hamas terrorist organisation in Gaza was eliminated yesterday and sent to meet his associates in the depths of hell”. In a joint statement, the Israeli military and the Shin Bet domestic security agency confirmed the killing of Odeh on Tuesday, saying he had been appointed head of the Ezzedine Al-Qassam Brigades after the May 15 killing of Ezzedine al-Haddad. Contacted by AFP, Hamas did not immediately respond to the announcement. The group never officially announced or confirmed Odeh as head of the brigades. He had long been the head of its intelligence service. Also read: Hamas official says military chief has died after Israel says it targeted him “We committed ourselves to eliminating everyone who led the October 7 massacre, and that is what we will do: they are all marked for death, wherever they may be,” Katz said in his post on X. He also repeated Israel’s goal of ending Hamas’s rule over the Palestinian territory and alluded to a plan for the forced displacement of its residents. “The plan for voluntary migration from Gaza will also be implemented – everything will be done at the right time and in the right way,” he said. The displacement of Gazans is a project backed by far-right Finance Minister Bezalel Smotrich. US President Donald Trump previously expressed support for the idea before ditching it. In February, the United Nations High Commissioner for Human Rights, Volker Turk, denounced plans “aimed at making a permanent demographic change in Gaza”. In the aftermath of Hamas’s October 7, 2023 attack on Israel, Israeli Prime Minister Benjamin Netanyahu pledged to target and eliminate the leaders behind it. The attack resulted in the deaths of 1,221 people, according to an AFP tally based on official Israeli figures. Israel’s retaliatory response in Gaza has killed at least 72,803 people, according to the territory’s health ministry, which operates under Hamas authority. Israel has previously killed Hamas’s former political chief Ismail Haniyeh and Yahya Sinwar, its Gaza chief who was widely regarded as the mastermind of the October 7 attack. It also killed Mohammed Deif, the longtime commander of Hamas’s armed wing, known as the Ezzedine Al-Qassam Brigades, as well as Mohammed Sinwar, who succeeded his brother Yahya Sinwar, as Gaza chief. Israeli strikes have also targeted Hamas operatives in Lebanon and senior Iran-backed Hezbollah commanders allied with the group, including former Hezbollah chief Hassan Nasrallah. [...]

North Korea tests AI-guided missiles and artillery rockets designed for modern warfare, KCNA says

May 27, 2026 8:31

SEOUL: North Korea has tested a mix of tactical ballistic missiles, artillery rockets and AI-guided precision cruise missiles designed for modern warfare under leader Kim Jong Un’s supervision, KCNA state news agency said on Wednesday. Having advanced the development of a series of long-range ballistic missiles and nuclear weapons capabilities, North Korea has been steadily upgrading its tactical and conventional arsenal, vowing to deploy it near the border with South Korea. The tests assessed the power of a “special mission warhead” on tactical ballistic missiles, the reliability of long-range multiple-launch artillery rockets and the accuracy of AI-guided tactical cruise missiles, KCNA said. Kim said the tests showed the weapons and automated launch systems have been successfully upgraded to “suit the proper conditions of modern warfare so as to enhance their application to combat,” according to KCNA. The tests in particular confirmed the combat readiness of cruise missiles that will be deployed at artillery units near the border with South Korea equipped with precision navigation and AI-guided control that can strike targets at 100 km (62 miles), Kim said. Also read: North Korea fired several missiles, South Korean military says Central Seoul, the densely populated capital of South Korea, is well within 100 km of the Demilitarized Zone border with the North, which has called the South its “primary foe” and disavowed the policy of eventual unification. The reported terminal guidance system of the cruise missile appears to be the first time North Korea has publicly referred to incorporating AI in missiles - a technology that maps and locks in the target using real-time data, analysts said. “It’s about using AI when recognising the target and guiding the missile,” said Yang Uk, a military expert at the Asan Institute for Policy Studies. The North has previously said it had used AI technology in its drones. Hong Min at the Korea Institute for National Unification said the North’s claim likely involves an upgraded version of an existing digital guidance system combined with automatic target recognition technology, although the degree of its sophistication is impossible to verify from the report. North Korea has supplied Russia with ballistic missiles and artillery rockets since late 2023 that are used by Moscow in the war against Ukraine. The use of those weapons is believed to have given Pyongyang valuable battlefield data for its arsenal. South Korea’s military said on Tuesday it detected the launch of multiple projectiles, including a ballistic missile. [...]

Samsung plans $1.5 billion chip testing plant in Vietnam, document shows

May 27, 2026 8:23

New Zealand central bank holds rates steady in tight vote, warns hikes to come sooner

May 27, 2026 7:38

New Zealand dollar rallies as RBNZ comes close to hiking

May 27, 2026 7:26

Oil pulls back as traders look for progress on US-Iran talks

May 27, 2026 6:21

Copper hits near two-week high, aluminium hovers around four-year peak

May 27, 2026 6:09

Sevastopol governor says Ukraine used Storm Shadow missiles in attack

May 27, 2026 6:00

Air defence units in the port of Sevastopol in Russian-occupied Crimea downed over 20 Ukrainian drones early on Wednesday, with Ukraine also using Storm Shadow missiles, the city’s governor said on Telegram. There were no injuries according to preliminary data, Mikhail Razvozhayev said, adding that a few buildings, including a regional office of the central bank and an eight-story apartment block, were damaged in the attack. Storm Shadow missiles are made by a Franco-British consortium. Russia, which annexed Crimea from Ukraine in 2014, has previously summoned the British and French ambassadors to protest Ukraine’s use of the weapons. Also read: Russia hits Ukraine with Oreshnik missile Separately, two people were wounded in the southern Russian port city of Taganrog, east of the border with Ukraine, after Russia downed a missile early on Wednesday, Taganrog Mayor Svetlana Kambulova said on Telegram. Overall, Russia downed 140 drones overnight, Interfax news agency said, citing the defence ministry. Russian strikes on Ukraine’s Dnipropetrovsk and Zaporizhzhia regions wounded 21 people, local authorities said on Telegram. Reuters could not independently verify reports of military activity. [...]

Growing food economy with shared kitchens

May 27, 2026 6:00

The evolution of the global food industry is moving away from the traditional high street restaurant to a more efficient, shared infrastructure. Around the world, restaurants are increasingly replacing expensive dining rooms with the shared kitchen model. This transition is taking place due to a significant shift in consumer behaviour, particularly driven by Gen Z and younger millennials. For this digital native demographic, the food experience is no longer tied to a physical table, but is defined by speed, variety, and the ease of a smartphone app. They place greater value in on-demand living, where the traditional dine-in experience is frequently replaced by the convenience of high-quality meals delivered right to their doorstep. The success of this model lies in how it lowers the barrier to entry for culinary talent. Opening a standard restaurant usually requires a massive upfront investment in real estate, interior design, and staff. Shared kitchens remove these heavy overheads by providing a shared environment where utilities and specialised equipment are already in place. This turns a high risk gamble into a strategic move, allowing chefs to focus entirely on their craft. It gives them the freedom to test new menus and enter different neighbourhoods without the fear of a massive financial loss if a specific concept does not immediately become a hit. Shared kitchens provide a private, professional, and secure environment to grow. It bridges the gap between a home kitchen and a commercial brand, allowing to scale operations and reach thousands of new customers while maintaining a professional standard. In the Pakistani market, this model is particularly appealing due to the unique challenges of our urban landscape. In densely populated cities like Karachi, Lahore and Islamabad, finding affordable and accessible locations in prime areas is an uphill battle. Shared kitchens solve this by allowing brands to establish a footprint in busy hubs at a fraction of the cost. As digital discovery becomes more prevalent compared to foot traffic, this delivery-based infrastructure ensures that supply can match the rising demand of a society that increasingly relies on apps in their everyday lives. These spaces serve as genuine innovation hubs for the modern age. They are places where new food ideas are born and tested in real time. In addition to measurable business growth, shared kitchens provide significant economic, social, environmental, and health benefits to the local community, as observed in research from around the world. By centralising operations, they can better manage energy use and reduce food waste, contributing to a more sustainable environment. In Pakistan, the model also creates a massive opportunity for women entrepreneurs. There is a wealth of talent in the desi cottage industry, where women run successful food businesses from home. However, many find it difficult to scale due to socio-cultural norms or the logistical hurdles of opening a public facing shop. Shared kitchens provide a private, professional, and secure environment to grow. It bridges the gap between a home kitchen and a commercial brand, allowing to scale operations and reach thousands of new customers while maintaining a professional standard. As important as it is for new ventures, It is also important to note that the shared kitchens infrastructure is equally relevant for established names looking to expand. For instance, foodpanda Kitchens provides a delivery-first model that helps restaurant partners test new markets and grow their presence with minimal risk and cost exposure. It allows a brand born in one part of the city to serve a completely different area almost overnight, using data-driven insights to place kitchens where the demand is highest. Ultimately, shared kitchens are about making the food industry more inclusive and resilient. By lowering costs and sharing resources, we are seeing a more diverse culinary scene where both emerging startups and famous chains can thrive together. This shift is a smarter, more community-focused way to build the future of Pakistan’s food economy, reflecting a rising need for convenience and quality. By removing the traditional barriers to growth, we are opening the door for the next generation of food innovators to rise to greater heights than ever. The article does not necessarily reflect the opinion of Business Recorder or its owners. [...]

Goldman Sachs lifts S&P 500 year-end target to 8,000 on strong earnings outlook

May 27, 2026 5:56

Indian equity benchmarks muted on caution over shaky US-Iran truce

May 27, 2026 5:22

China's top diplomat says hopes US, Iran reach compromise

May 27, 2026 5:11

BEIJING: China’s top diplomat reiterated calls for parties involved in a fragile Middle East ceasefire to respect the truce, expressing hope that the United States and Iran would each make concessions, state media said Wednesday. Foreign minister Wang Yi during an open debate session of the UN Security Council came as Iran accused the United States of breaching the ceasefire and warning of retaliation. US forces had attacked missile sites in southern Iran as well as boats trying to lay mines, threatening a deal to end the war. Also read: Trump seeks China’s help on Iran war China has been making efforts to resolve the conflict, and has maintained communication and coordination with the main parties involved, Wang told reporters at the UN session in New York on Tuesday. “We hope that the parties concerned can stay committed to pursuing a ceasefire and continue to meet each other halfway, so that peace can return to the Middle East as early as possible,” Wang said, according to state news agency Xinhua. “We support the active mediation by Pakistan and other countries, and also support efforts made by the United States and Iran, respectively,” Wang said. He added that he hoped involved parties will “continue to meet each other halfway”. [...]

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

November 21, 2025 1:33

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

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

November 20, 2025 7:59

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

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

November 20, 2025 5:25

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

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

November 20, 2025 4:39

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

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

November 20, 2025 4:38

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

MQM-P calls for new province in Sindh

November 20, 2025 3:56

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

US report validates Pakistan military edge over India: PM

November 20, 2025 3:55

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

Banned TTP poses serious threat to Pakistan security: UNSC panel

November 20, 2025 10:24

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

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

November 20, 2025 10:01

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

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

November 20, 2025 6:16

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

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

November 20, 2025 5:08

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

Pakistan to construct island to boost oil exploration: report

November 19, 2025 6:26

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

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

November 19, 2025 6:14

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

Security forces neutralise four terrorists in KP IBOs

November 19, 2025 5:12

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

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

November 19, 2025 4:38

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

Ukrainian commander thinks Russia's army is exhausted

May 27, 2026 11:13

Ukraine has a six-month window in which to seize the battlefield initiative from Russia and strengthen its hand for peace talks, a senior commander told Reuters, predicting a "turning point" was imminent after more than four years of war.Russian forces have made grinding gains since their... [...]

British Gas launches fixed energy tariff that cuts bills if prices fall

May 27, 2026 10:46

British Gas launches fixed energy tariff that cuts bills if prices fallBritish Gas has reportedly launched a new fixed energy tariff, marking a major shift to protect households from rising bills while empowering customers to benefit if energy prices fall in the future. While the new... [...]

Massive fire erupts near Golders Green supermarket, prompting emergency response

May 27, 2026 9:29

Massive fire erupts near Golders Green supermarket, prompting emergency responseA serious incident occurred today in north-west London as around 100 firefighters combat a blaze severely affecting a supermarket and the flats above.Given the gravity of the situation, the London Fire Brigade ... [...]

Trump administration considers ending immigration and customs processing at 'sanctuary city' airports

May 27, 2026 6:21

Trump administration considers ending immigration and customs processing at ‘sanctuary city’ airportsUS Homeland Security Secretary Markwayne Mullin announced today that the Trump administration is drawing up plans to stop processing international travelers and cargo at major US... [...]

Nancy Guthrie update: 'Money was not kidnappers first priority'

May 26, 2026 3:39

Ex-officer weighs in on Nancy Guthrie's disappearanceNancy Guthrie, who has been missing for over 100 days, baffled observers and investigators.Now, a retired cop, Charles Brewer, who had a rich experience of over two decades, on his YouTube channel, dropped a chilling theory.In his view, the... [...]

Graham Platner joins Bernie Sanders 'Fighting Oligarchy' tour in Maine, urges 'political revolution'

May 26, 2026 12:34

Graham Platner joins Bernie Sanders ‘Fighting Oligarchy’ tour in Maine, urges ‘political revolution’Maine Senate candidate Graham Platner, the presumptive Democratic nominee, appeared at a rally in Portland alongside Bernie Sanders to mobilize progressive voters. During a... [...]

Bombshell reason why UFO files were hidden for years finally revealed

May 26, 2026 11:44

Harvard scientist explains why officials hid UFO files for yearsA new batch of the UFO files is out after years of being hidden in the government's vault.Now, a Harvard physicist made a bombshell claim on why the files may have been kept away from the public.His name is Avi Loeb.And he explains... [...]

South Korea plans first nuclear submarine launch by mid-2030s to rival North Korea

May 26, 2026 7:32

South Korea plans first nuclear submarine launch by mid-2030s to rival North Korea South Korea has unveiled its plan to build and launch its first nuclear-powered submarine by the mid-2030s under a new program. According to Defence Minister Ahn Gyu-back, the new program is designed to... [...]

Marco Rubio says Iran deal 'may take a few days' after US 'self-defence' strikes

May 26, 2026 6:31

Marco Rubio says Iran deal ‘may take a few days’ after US 'self-defence' strikesUS Secretary of State Marco Rubio on Tuesday clarified doubts regarding an imminent deal between the US and Iran. According to Rubio, the chances of negotiating a deal with Iran are still on table despite... [...]

Tim Hortons to hire 10,000 local workers amid shift away from TFW programme

May 26, 2026 2:00

Tim Hortons says it is moving away from its previous calls for expanded access to Canada’s temporary foreign worker programme as it launches a campaign to hire 10,000 new local employees.In a statement released on Monday, the company said around 4,000 of its 110,000 workers in Canada were... [...]

Protesters block ICE vehicles outside New Jersey detention centre amid hunger strike

May 26, 2026 1:27

US Immigration and Customs Enforcement agents clashed with protesters outside a migrant detention centre in Newark on Monday amid a hunger strike by detainees demanding improved conditions and medical care.Demonstrators gathered outside Delaney Hall after learning that detainee Martin Soto, who... [...]

Russia plans major strikes on Kyiv defence sites, warns foreigners to leave

May 26, 2026 12:55

Russia has warned foreign nationals to leave Kyiv as Moscow prepares what it described as a “series of systematic strikes” targeting Ukraine’s defence industry facilities.In a statement on Monday, Russia’s Foreign Ministry said the planned attacks were in response to a... [...]

Trump says Iranian uranium should be destroyed under US supervision

May 26, 2026 12:32

US President Donald Trump has renewed calls for Iran to surrender its enriched uranium stockpile to the United States or agree to its destruction under international oversight.In a post on his Truth Social platform on Monday, Trump said the material should either be transferred to the US or... [...]

US strikes Iran missile sites near Strait of Hormuz, calls it 'self-defence'

May 26, 2026 12:11

The United States Central Command said US forces carried out “self-defence strikes” in southern Iran on Monday, targeting missile launch sites and boats near the Strait of Hormuz amid an ongoing ceasefire.Explosions were reported earlier in the Iranian port city of Bandar Abbas, with... [...]

Spanish national tests positive for hantavirus after evacuating cruise ship

May 25, 2026 8:04

Spanish national tests positive for hantavirus after evacuating cruise shipHantavirus fear is growing every day after multiple individuals from different nationalities tested positive.Recently a Spanish national in quarantine in a ‌Madrid military hospital, who is among those evacuated from a... [...]

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Why America is losing the AI productivity war to 3.5 million Chinese STEM graduates

May 27, 2026 12:05

Big Tech’s structural mistakes are costing stock investors and fueling a massive talent crisis. [...]

The market isn’t fully pricing in a peace deal yet, as investors see no alternative to U.S. stocks, says Barclays

May 27, 2026 11:55

Since the start of the war in Iran, investors have favored U.S. stocks over international equities, but a deal could help to reduce the gap. [...]

OpenAI’s biggest problem isn’t AI safety. It’s Sam Altman.

May 27, 2026 11:50

‘Conflict-averse’ CEO has built a culture of groupthink — and a massive corporate liability, [...]

‘The timing couldn’t have been better’ for investors in MSGS as the Knicks make the NBA Finals

May 27, 2026 11:46

Shares of MSG Sports have climbed 39% this year and are up 88% over the last 12 months. And that was before the Knicks made it to the NBA Finals. [...]

China’s next export shock walks on two legs — and costs less than a used car

May 27, 2026 11:45

Beijing is funding humanoid robots to slash Chinese factory costs and build a competitive advantage. [...]

‘I feel like I’m living a lie’: My husband and I pretend we’re strapped for cash in front of friends. Is that bad?

May 27, 2026 11:00

“I’ve found that acting ‘normal’ means others treat me like one of the group.” [...]

Why this fund manager who was an early proponent of Nvidia is now betting on AI’s space frontier

May 27, 2026 10:59

T. Rowe Price’s Tony Wang is looking AI for bottlenecks and finding them, and also sees returns in space and light. [...]

My friend, 62, earns $20,000 a year. Should she take Social Security now — and claim survivor’s benefit at 67?

May 27, 2026 10:00

“I calculated her break-even point to be around age 78.” [...]

A rival joins Micron in the $1 trillion club as one bank argues AI is actually underhyped

May 27, 2026 9:46

The frenzy in memory-chip stocks continued on Wednesday as SK Hynix took less than 24 hours to join American peer Micron Technology in the $1 trillion valuation club. [...]

‘I’m unsure of the best approach’: My father, 91, is in hospice care. He left his six children CDs. Can we cash out?

May 27, 2026 9:30