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Gold price up Rs1,300 per tola in Pakistan
May 30, 2026 1:08
Gold price up Rs1,300 per tola in Pakistan

Gold prices in Pakistan increased on Saturday in line with their gain in the international market. In the local market, gold price per tola reached Rs476,162 after a jump of Rs1,300 during the day. Similarly, 10-gram gold was sold at Rs408,232 after it accumulated Rs1,115, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Friday, gold price per tola reached Rs474,862 after a decrease of Rs500 during the day. The international rate of gold increased by $13 to reach $4,538 per ounce (with a premium of $20). Meanwhile, the price of silver decreased by Rs21 to reach Rs8,013 per tola. [...]

Oil prices fall 2% as market awaits possible US-Iran ceasefire deal
May 29, 2026 5:57
Oil prices fall 2% as market awaits possible US-Iran ceasefire deal

HOUSTON: Oil futures fell more than 2% on Friday and were on track for their steepest weekly decline ​since early April after reports that the U.S. and Iran had reached agreement on a potential ceasefire extension. Brent crude futures for ‌July , which expire later on Friday, were down $1.74, or 1.86%, at $91.97 a barrel by 10:58 a.m. CDT (1558 GMT). The more active August contract was down $1.64, or 1.77%, at $91.06. WTI U.S. oil futures were down $1.35, or 1.52%, at $87.55. It was not a smooth downward slope for futures throughout Friday, however, with comments from U.S. President Donald Trump ​about an agreement and possible military action against Iran. “It’s Trump talking out of both sides of his mouth,” said Phil Flynn, ​senior analyst with the Price Futures Group. “He’s favoring a deal then talking about military action.” Iran’s Fars news agency ⁠reported that the Iranian government was in the final stages of ratifying an agreement with the United States, but had not made the final ​decision to approve the deal. Fars also said the agreement would not require Iran to open the Strait of Hormuz without restrictions but the Islamic ​Republic would reopen the waterway “according to its own pre-determined arrangements.” Iran has said after the end of the conflict with the U.S. and Israel it would regulate traffic through the strait, charging fees to transit. Trump has said the proposed agreement would require Iran to open the waterway without restriction. The Brent benchmark has plunged by about 11% ​this week for its steepest weekly decline in seven. WTI, meanwhile, has dropped by more than 9% for its biggest weekly loss in six. ​Both benchmarks hit their lowest price since mid-April. “While oil flows through the Strait of Hormuz remain restricted and oil inventories keep falling, the market focus remains ‌on the ⁠possibility of a deal between the U.S. and Iran,” said UBS analyst Giovanni Staunovo. “The price drop could be forcing some market players to close their long positions.” The U.S. and Iran reached a tentative agreement on Thursday to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters. Oil prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible ​end to the Iran war and potential ​reopening of the Strait of ⁠Hormuz, which was previously a conduit for a fifth of the world’s oil and liquefied natural gas supplies. Traffic through the maritime chokepoint remains a small fraction of levels before the conflict. Analysts at ING said a reopening ​of the waterway would offer some immediate relief to the oil market, but a recovery is still ​uncertain. Japan, which relies heavily ⁠on oil from the Middle East, last month registered a 66% drop in crude oil imports compared with April last year. Commerzbank raised its Brent forecasts to $90 a barrel by the end of September and $85 by the end of the year, based on a scenario in which the Strait of Hormuz ⁠is expected to ​remain closed to normal shipping for another two months. Meanwhile U.S. crude, gasoline and distillate ​stockpiles fell last week, the Energy Information Administration said on Thursday, as demand from refiners and consumers rose and exports fell by 1.16 million barrels per day to 4.4 million ​bpd. [...]

KSE-100 gains 1.3% in strong post-Eid trading session
May 29, 2026 5:52
KSE-100 gains 1.3% in strong post-Eid trading session

The Pakistan Stock Exchange (PSX) staged a strong bullish post-Eid session on Friday amid hopes of a peace deal between US and Iran, with the benchmark KSE-100 Index gaining 1.3%, reflecting aggressive buying across the board. The market opened on a volatile note, hitting the intra-day low of 171,545.46 in early trade as investors initially remained cautious. However, sentiment quickly turned positive, triggering a steady upward trajectory throughout the session. The rally intensified during the second half of trading, with the benchmark crossing the 174,000 mark briefly and hitting a session high of 174,106.34 points. Although some profit-taking emerged near the end, signalling sustained investor confidence. At close, the benchmark index settled at 173,962.81, down by 2,237.52 points or 1.30%. “This positivity can be accredited to optimism that US and Iran are about to close a peace deal,” brokerage house Topline said in its post-market report. Top positive contribution to the index came from FFC, ENGROH, LUCK, EFERT, BAHL and HBL, as they cumulatively contributed +1,484 points to the index, Topline said. On Monday, PSX staged a strong recovery as renewed optimism surrounding ongoing United States-Iran negotiations, easing international oil prices, and aggressive buying ahead of the Eid holidays propelled the stock market sharply higher. The KSE-100 Index closed at 171,725.29 points, registering a substantial increase of 3,881.05 points or 2.31%. Globally, world stocks stood at record highs on Friday, and oil futures eyed the steepest weekly drop for nearly two months as traders waited for details on a potential deal to reopen the Strait of Hormuz and extend the US-Iran ceasefire. Sources told Reuters that the US and Iran have reached an agreement to extend their ceasefire and lift restrictions on shipping, though US President Donald Trump has yet to approve it, and Iranian state media said it had not been finalised. Moves in the Asian morning were modest, with S&P 500 futures steady after the index notched another record closing high overnight. MSCI’s index of world stocks edged up to a record high, with AI-euphoria lifting chipmaker shares around the world and pushing benchmarks in Tokyo and Seoul up around 2% on Friday morning and toward weekly rises. Meanwhile, the Pakistani rupee posted marginal gain against the US dollar in the inter-bank market on Friday. At close, the local currency settled at 278.50, a gain of Re0.01 against the greenback. Volume on the all-share index declined to 555.06 million from 506.35 million recorded in the previous close. The value of shares rose to Rs40.88 billion from Rs31.15 billion in the previous session. TRG Pak Ltd was the volume leader with 34.19 million shares, followed by B.O.Punjab with 23.89 million shares, and WorldCall Telecom with 22.88 million shares. Shares of 490 companies were traded on Friday, of which 298 registered an increase, 161 recorded a fall, and 31 remained unchanged. [...]

Rupee registers gain against US dollar
May 29, 2026 4:17
Rupee registers gain against US dollar

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posted marginal gain against the US dollar in the inter-bank market on Friday. At close, the local currency settled at 278.50, a gain of Re0.01 against the greenback. On Monday, the local unit closed at 278.51. The central bank remained closed from Tuesday through Thursday in observance of the Eid-ul-Adha holidays. The dollar extended its weakness against major currencies on Friday and was on track to end the week lower. The euro fetched $1.1653, up 0.03% so far in Asia, while the pound traded flat at $1.3445. The Australian dollar was steady at $0.7164 and the New Zealand dollar rose 0.2% to $0.5946, near the strongest level in more than two weeks. The dollar index, which measures the greenback against a basket of currencies, was largely flat at 98.997 after dropping 0.2% on Thursday. It is now on track to snap two weeks of gains and end the week 0.3% lower. Oil futures fell 2% on Friday and were on track for their steepest weekly decline since early April after reports that the US and Iran had reached agreement on a potential ceasefire extension. Brent crude futures for July, which expire later on Friday, were down $1.89, or 2%, at $91.82 a barrel by 1309 GMT. The more active August contract was down $1.89, or 2%, at $90.81. WTI U.S. oil futures were down $1.70, or 1.9%, at $87.20. Inter-bank market rates for dollar on Friday BID Rs 278.50 OFFER Rs 278.70 Open-market movement In the open market, the PKR lost 3 paise for buying and remained unchanged for selling against USD, closing at 278.73 and 279.56, respectively. Against Euro, the PKR gained 50 paise for buying and 66 paise for selling, closing at 322.46 and 325.74, respectively. Against UAE Dirham, the PKR gained 2 paise for buying and 3 paise for selling, closing at 75.68 and 76.52, respectively. Against Saudi Riyal, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 73.85 and 74.70, respectively. Open-market rates for dollar on Friday BID Rs 278.73 OFFER Rs 279.56 [...]

Indian central bank's FX trading gains surge 52% to $17.7 billion in FY26, boosting income
May 29, 2026 1:58
Indian central bank's FX trading gains surge 52% to $17.7 billion in FY26, boosting income

MUMBAI: The Indian central bank’s gains from foreign exchange transactions rose 52% to 1.69 trillion rupees ($17.70 billion) in the fiscal year ending March, according to its annual report released on Friday. The Reserve Bank of India books gains when it sells dollars from its reserves in the foreign exchange markets to protect the rupee, using the historical average price of its dollar purchases as a benchmark. In the previous year, the RBI reported a 1.11 trillion rupee gain from forex intervention. Earlier this month, the central bank said it will transfer a record 2.87 trillion rupees to the federal government for the fiscal year ending March 2026, after setting aside funds for its contingency reserves. The RBI’s balance sheet expanded by 20.61% to 91.97 trillion rupees as of March 31, 2026. Alongside gains from foreign exchange operations, the RBI also earned from its investments in foreign securities, including U.S. treasuries. Interest income from foreign securities rose to 1.077 trillion from 970.07 billion rupees a year earlier. Indian central bank likely selling dollars to limit Indian rupee’s slide, traders say Macro outlook The annual report, which comes a week before a crucial monetary policy review amid the Middle East crisis, said India’s economy is expected to remain resilient this year despite a challenging external environment. But a “prolonged” crisis in the Middle East could pose a “downside risk”, the report said. The RBI has forecast growth at 6.9% for the current financial year, while inflation is seen averaging 4.6%, but economists expect the projections to be revised. Analysts are also split on whether the central bank will hike rates preemptively, as rising fuel costs and a weak monsoon could push up price pressures in the economy. “In a highly uncertain global environment, continuous assessment of the evolving developments is warranted to frame the appropriate policy response on an ongoing basis,” the annual report said, without giving clues on the direction of interest rates from here. It added that banking system liquidity operations would continue to be in sync with the monetary policy stance. “Foreign exchange operations would be principle-based, guided by the objective of ensuring orderly movements in the exchange rate of the Indian rupee,” the report said. India central bank’s daily $1 billion FX defence struggles to turn Indian rupee tide, bankers say Both the rupee and interest rates have come under pressure since March due to surging global oil prices. Indian rupee internationalisation The annual report, which also lays down the central bank’s agenda for the year ahead, said the RBI will continue to push forward efforts to internalise the rupee. There has been a considerable pick-up in INR-based invoicing and settlement since July 2022, the RBI said. Between August 2022 and July 2025, compound annual growth of imports and exports invoiced in INR has been 20.9% and 12.7%, respectively, data from the report showed. In 2025-26, trade invoicing and settlement in INR rose 6.5% for exports and 9.5% for imports. “The INR internationalisation process has been mutually beneficial to all trading partners, and based on the principles of reciprocity, it has given a fillip to trade invoicing in several other emerging market currencies,” the RBI said. [...]

India insurers seek doubling of tax-free limit for some products to boost inflows, sources say
May 29, 2026 1:35
India insurers seek doubling of tax-free limit for some products to boost inflows, sources say

MUMBAI: Indian life insurers have asked the government to double the tax-free limit for insurance policies from 500,000 rupees ($5,232), hoping for a boost to inflows into these funds, three sources directly aware of the matter said. New tax limits were imposed in February 2023, applicable to all insurance schemes except unit-linked insurance plans (ULIPs). Since then, inflows into non-ULIP schemes have risen a modest 2% and 5% for fiscal years 2024 and 2025, respectively. This is sharply lower than the 13% and 18% growth in the previous two years, data showed. The flows for fiscal 2026 grew 16%, largely due to a reduction in the goods and services tax. Stronger inflows into such funds will boost demand for ultra-long bonds - which these funds heavily invest in - at a time when the federal and state governments’ supply has risen, the sources said, declining to be identified as they are not authorised to speak to the media. Similar requests had been made after new tax limits were imposed. The Life Insurance Council and the Insurance Regulatory and Development Authority of India did not reply to a Reuters email seeking comment. India’s Life Insurance Corp posts quarterly profit rise on strong retail demand Slower inflows have curbed demand for longer-maturity debt, along with pushing up yields on 30-year and above maturity papers, faster than the 10-year note. The Indian government has reduced the share of ultra-long bonds in April-September borrowing to 25%, sharply lower than 30% for the second half of fiscal 2026 and 35% for the preceding six months. It would be difficult to maintain supply at this level, and the government will have to increase it to at least 30% in October-March, according to traders. “Increasing the tax exemption limit is a necessary first step to unlock the deep pool of long-term capital required to anchor India’s fiscal expansion,” said Arun Srinivasan, chief - fixed income, ICICI Prudential Life Insurance. “Implementing this measure will incentivise long-term retail and institutional savings, offering critical domestic support for the state’s ultra-long-term borrowing needs,” he said. The appeal was made via a letter from the Life Insurance Council, a forum which represents insurers, to the government earlier this month, the sources said. [...]

Sri Lankan shares rise on gains across sectors
May 29, 2026 1:00
Sri Lankan shares rise on gains across sectors

Sri Lankan shares closed higher on Friday, as broad-based sectoral gains lifted stocks. The CSE All Share index settled up 0.5% at 22,310.80, closing the week higher. Industrial Asphalts (Ceylon) PLC and Sathosa Motors PLC were the top percentage gainers on the CSE All Share index, rising 20% and 14.2%, respectively. Trading volume on the CSE All Share index rose to 516 million shares from 61.9 million in the previous session. Sri Lanka monetary stance appropriate, 3% growth target within reach, IMF says The equity market’s turnover rose to 7.38 billion Sri Lankan rupees ($22.4 million) from 1.86 billion rupees in the previous session, according to exchange data. Foreign investors were net sellers, offloading stocks worth 1.8 billion rupees, while domestic investors were net buyers, purchasing shares worth 6.8 billion rupees, the data showed. [...]

Indian Oil Corp buys 5 million barrels of crude from West Africa, Middle East, sources say
May 29, 2026 12:55
Indian Oil Corp buys 5 million barrels of crude from West Africa, Middle East, sources say

NEW DELHI/SINGAPORE: State refiner Indian Oil Corp (IOC) bought 5 million barrels of crude oil from West Africa and Middle East via a tender this week, trade sources said on Friday. IOC purchased Angola’s Kissanje and Nemba crude for delivery to its Paradip refinery, the sources said. The company also bought Nigeria’s Usan crude from ExxonMobil and Abu Dhabi’s Murban crude from Mercuria for delivery to Vadinar. IOC also purchased Murban crude from Totsa, the trading arm of TotalEnergies, for delivery to Chennai, the people said. India hikes fuel prices for second time in a week The West African cargoes traded at premiums of around $4 a barrel to dated Brent, while Murban cargoes were sold at flat to a slight premium to dated Brent, they added. The companies typically do not comment on their commercial sales. [...]

India's forex reserves fall to over one-year low as central bank mounts Indian rupee defence
May 29, 2026 12:39
India's forex reserves fall to over one-year low as central bank mounts Indian rupee defence

MUMBAI: India’s foreign exchange reserves fell to a more than one-year low of $681.4 billion in the week ended May 22, from $688.89 billion a week earlier, the Reserve Bank of India (RBI) data showed on Friday. The $7.5 billion decline was largely due to a $4.5 billion fall in the value of the central bank’s gold holdings, week-on-week. The value of the RBI’s foreign currency assets also shrunk by nearly $3 billion to $543 billion. Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies in the reserves. The RBI has been selling dollars to defend the beleaguered rupee, which has declined 4% since the U.S.-Iran war began, as surging energy prices sparked capital outflows and clouded India’s macroeconomic outlook. India’s FX reserves fall below $700 billion for the first time in over two months In the week to which the data pertains, the rupee slid to a record low of 96.96 per dollar before being shored up by firm RBI intervention over multiple trading sessions, including likely on Friday. It ended the session at 95 per dollar, up 0.7% week-on-week. Foreign exchange reserves include India’s Reserve Tranche position in the International Monetary Fund. FOREIGN EXCHANGE RESERVES (in million U.S. dollars) May 22, 2026 May 15, 2026 Foreign currency assets 543,032 545,904 Gold 114,786 119,317 SDRs 18,748 18,824 Reserve Tranche Position 4,818 4,850 Total 681,384 688,894 [...]

India's maritime lender set to launch country's first blue bond, top exec says
May 29, 2026 12:33
India's maritime lender set to launch country's first blue bond, top exec says

MUMBAI: India’s Sagarmala Finance Corporation is set to issue the country’s first ‘blue bond’, as it looks to diversify funding sources to lend towards developing maritime and coastal infrastructure, a top executive told Reuters on Friday. A blue bond is a debt security aimed at raising funds for ocean- and water-related projects, targeting investors that have a mandate to invest in bonds that have an environmental focus. While ‘green bonds’ used to fund climate change-related projects have seen a considerable pick-up, Sagarmala’s debt would be a first-of-its-kind blue bond in India. Globally, just over $15 billion in blue bonds had been issued by mid-2025, according to World Bank data. In 2020, the Bank of China had issued Asia’s first blue bond, while some island nations like Seychelles have also raised debt via such securities. Sagarmala, India’s state-owned maritime-focused lender, plans to raise up to 10 billion rupees ($105.08 million), including a greenshoe option of 5 billion rupees, Managing Director L.V.S. Sudhakar Babu told Reuters. Indian bonds rally as oil slips below $100/bbl, benchmark logs best day in 3 weeks While the exact tenor and rate are yet to be decided, the company plans to use the bond issue for longer term borrowing. Sagarmala’s existing term loans have an average tenor of 3.5 years, while the average tenor of loans itdisbursesis about 12 years, creating an asset-liability mismatch, Babu said. Trust Capital, AK Capital and Tipsons have been appointed as advisers to the bond issue, for which a date is yet to be finalized. “This will happen when the market is conducive and yields stabilise,” Babu said. India’s benchmark 10-year yield has risen around 35 basis points since the start of the U.S.-Iran war, denting activity in the bond market. Established in 2016 under India’s Ministry of Ports, Shipping and Waterways, Sagarmala received a non-banking financial company licence in June 2025. Reuters had earlier reported that Sagarmala plans to raise as much as 100 billion rupees in financial year 2027 to finance projects that strengthen India’s maritime ecosystem, including greenfield and brownfield ports, last-mile port connectivity, shipbuilding, inland waterways and coastal road networks. The company also administers the government’s 250-billion-rupee Maritime Development Fund, which includes a 50-billion-rupee Interest Incentivisation Fund, allowing it to provide interest subsidies to borrowers. Sagarmala is also seeking a 20-billion-rupee equity infusion from the government to maintain a healthy debt-to-equity ratio as it expands its loan book. [...]

Copper slips after strong month as lack of news on Iran deal curbs upswing
May 29, 2026 12:04
Copper slips after strong month as lack of news on Iran deal curbs upswing

LONDON: Copper prices edged lower on Friday as investors waited for more news about a potential deal to extend a ceasefire in Iran and as the dollar firmed. Three-month copper on the London Metal Exchange was down 0.1% at $13,690 a metric ton by 0910 GMT after gaining 1.3% in the previous session. LME copper rebounded on Thursday on the back of news that the U.S. and Iran reached an agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz. But President Donald Trump has yet to approve it and Iranian state media said it had not been finalized. “Copper is drifting lower today, it seems like we’ve got some profit-taking. We’ve certainly had a small uptrend for the last two weeks, but it’s stalling a bit,” said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. LME copper is on track to gain 5.3% this month, largely on hopes for a deal to end the Iran war and signs of firmer demand. The most-traded copper contract on the Shanghai Futures Exchange added 0.8% to 104,840 yuan a ton. The contract has gained about 3% so far this month. Both contracts were up for the second straight month. “A successful deal could open the door for stronger gains, while any breakdown risks reigniting inflationary pressures and capping upside,” said Tim Waterer, chief market analyst at KCM Trade. Copper was also supported by the continued flow of metal to the U.S. as traders took advantage of a slight premium of U.S. futures over those in London. U.S. Comex copper futures dipped 0.2% to $6.44 a lb, bringing the premium of Comex over LME copper to 3.7% or $511 a ton. “If you take copper out of the market into the U.S. then that helps to tighten the overall global market, so it’s difficult not to paint a picture of underpinned and supported prices going forward,” Hansen said. Among other metals, LME aluminium was little changed at $3,660 a ton, zinc added 0.3% to $3,563, lead rose 0.3% to $2,024, tin gained 0.4% to $55,300, and nickel dipped 0.1% to $19,090. [...]

Palm oil books a second straight weekly gain
May 29, 2026 11:59
Palm oil books a second straight weekly gain

JAKARTA: Malaysian palm oil futures reversed gains and closed lower on Friday, although they stillbooked their second straight weekly gain, up 1.09% for the week. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange lost 2 ringgit, or 0.04%, to 4,535 ringgit ($1,144.34) a metric ton at the close. The futures will be closed on June 1 and June 2. Trading will resume on Wednesday, June 3. Dalian’s most-active soyoil contract rose 0.75%, while its palm oil contract added 0.37%. Soyoil prices on the Chicago Board of Trade were up 0.1%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Indonesia set its crude palm oil reference price for June at $1,029.51 per metric ton, a Trade Ministry decree showed on Friday, down from $1,049.58 per ton in May. The Indonesian government met with palm oil farmer groups on Friday to address concerns about a steep decline in the prices of fresh fruit bunches, which farmers say was caused by uncertainties about a new plan to funnel all palm oil exports through a state agency. European Union soybean imports for the 2025/26 season that began in July had reached 11.95 million tons by May 24, down 8% from the same period a year earlier, while palm oil imports were down 4% at 2.55 million tons, European Commission data showed. [...]

Indian rupee soars to best day in nearly two months as central bank steps in, oil drops
May 29, 2026 11:34
Indian rupee soars to best day in nearly two months as central bank steps in, oil drops

MUMBAI: The Indian rupee jumped sharply on Friday to log its best single-day gain in nearly two months as likely intervention by the central bank converged with a drop in oil prices, which also briefly lifted the local currency above the 95/USD mark. The Indian rupee ended the session at 95 per dollar, up 0.7% from the previous session, its best day since April 2. It gained by a similar amount week-on-week, but was flat for the month. While the rupee appeared set to endure a weaker day, likely dollar selling intervention reversed the trajectory, with a drop in crude prices adding to the upward momentum. Oil prices dropped after a plan for extending the truce between the U.S. and Iran awaited approval from U.S. President Donald Trump. Brent futures were last hovering around $91 per barrel, on track for their steepest weekly decline since early April. According to four sources familiar with the matter, the agreement would extend the truce for another 60 days and allow traffic to flow through the Strait of Hormuz, a key artery for global energy supplies. Worries over the economic hit to India - the world’s third-largest oil importer - have spurred steep capital outflows, with overseas investors pulling over $24 billion from Indian debt and equities on a net basis between March and May. Investors’ focus is now on the Reserve Bank of India’s monetary policy decision on June 5. Most economists polled by Reuters expect the RBI to keep its key interest rate unchanged at 5.25%. A minority are anticipating a rate increase to counter inflationary risks and steady the currency, which is down more than 5% so far in 2026. “Our base case is that the RBI lifts the repo rate to 6.00% before the end of the year, but that is contingent on the crisis coming to an end soon and energy prices dropping back,” Shilan Shah, deputy chief EM markets economist at Capital Economics, said in a note. [...]

Indian equity benchmarks log monthly losses on Iran war jitters
May 29, 2026 11:23
Indian equity benchmarks log monthly losses on Iran war jitters

India’s equity benchmarks fell on Friday, posting a monthly drop as uncertainty over a U.S.-Iran peace deal prompted investors to lock in gains after the previous month’s strong rally. The Nifty 50 fell 1.5% to 23,547.75and the BSE Sensex shed 1.44% to 74,775.74 on Friday, taking their monthly losses to 1.9% and 2.8%, respectively. Losses swelled in the last half an hour’s trade on Friday as index provider MSCI’s May index rejig came into effect. While India enjoyed a surge in its weight in the MSCI EM index between 2020 and 2024, rising to about 20% in July 2024, it is expected to come down to 11.2% after the latest MSCI rebalancing, as per IIFL Capital. The 50-stock index had plunged 11.3% in March before rebounding 7.5% in April. “We are unlikely to see a consistent rise in Indian stocks unless the uncertainty over U.S.-Iran conflict is clearly behind us,” said Arun Malhotra, founder and fund manager at CapGrow Capital. Brent Crude futures fell 19% in May, but remain 27.3% above the levels seen before the Iran war. India is the world’s third biggest crude importer. Elevated oil prices and a lack of AI trade have kept the Indian market out of favour among foreign investors, analysts said. Ten of the 16 major sectors logged monthly losses. Broader markets outperformed, with the small-cap and mid-cap indexes rising 0.7% and 3.2%, respectively, on earnings optimism. Heavyweight financials and IT stocks lost 1.2% and 0.9%, while Reliance Industries shed 7.7%. ONGC fell 11.4% on profit booking after a 25% rise over the previous four months, and on concerns over production delays at key projects. ITC declined 8.9% as analysts flagged that recent price hikes will likely weigh on cigarette volumes in June. Adani Enterprises surged 22%, after the U.S. dropped fraud charges against Gautam Adani. Hindalco and National Aluminium gained 8.6% and 6.3% as steady domestic demand, pricing comfort and global supply worries linked to the Iran war lifted metal prices. [...]

Gold price drops by Rs500 per tola in Pakistan
May 29, 2026 9:50
Gold price drops by Rs500 per tola in Pakistan

Gold prices in Pakistan decreased on Friday in line with their loss in the international market. In the local market, gold price per tola reached Rs474,862 after a decline of Rs500 during the day. Similarly, 10-gram gold was sold at Rs407,117 after it fell by Rs429, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price per tola reached Rs475,362 after a decline of Rs2,400 during the day. The international rate of gold declined by $5 to reach $4,525 per ounce (with a premium of $20). Meanwhile, the price of silver also decreased by Rs83 to reach Rs8,034 per tola. [...]

Gold price up Rs1,300 per tola in Pakistan
May 30, 2026 1:08
Gold price up Rs1,300 per tola in Pakistan

Gold prices in Pakistan increased on Saturday in line with their gain in the international market. In the local market, gold price per tola reached Rs476,162 after a jump of Rs1,300 during the day. Similarly, 10-gram gold was sold at Rs408,232 after it accumulated Rs1,115, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Friday, gold price per tola reached Rs474,862 after a decrease of Rs500 during the day. The international rate of gold increased by $13 to reach $4,538 per ounce (with a premium of $20). Meanwhile, the price of silver decreased by Rs21 to reach Rs8,013 per tola. [...]

India says retail inflation may accelerate on weak monsoon, fuel price rise
May 30, 2026 10:13
India says retail inflation may accelerate on weak monsoon, fuel price rise

NEW DELHI: India’s retail inflation could rise as a result of recent fuel price hikes and weaker-than-normal monsoon rains, the country’s finance ministry said in a report on Saturday, as energy supply disruptions continue because of the Middle East conflict. The duration of the Strait of Hormuz disruption remains the “single most consequential variable” for India’s external and price outlook, the report said. A sharp rise in upstream price pressures, along with recent increases in fuel prices, suggests a gradual pass-through to retail inflation through higher transport, energy and food-related costs in the coming months. India hikes fuel prices for second time in a week A significant rainfall deficit coupled with current geopolitical conditions could translate into food inflation, weakening rural demand and aggregate growth, the report said. The near-term outlook for the Indian economy is one of cautious resilience . The confluence of elevated global energy prices, a depreciating rupee, rising upstream cost pressures and the prospect of a below-normal monsoon calls for sustained policy vigilance, the report said. Indian state fuel retailers losing nearly 6bn Indian rupees daily despite price hikes India’s annual retail inflation rose marginally to 3.48% in April and so far remains below the central bank’s target. The finance ministry releases its economic report every month. [...]

Hong Kong beats Switzerland in global wealth management: study
May 30, 2026 1:53
Hong Kong beats Switzerland in global wealth management: study

ZURICH: Hong Kong has overtaken Switzerland for the first time in cross-border wealth management, according to a study by the Boston Consulting Group published on Wednesday. Based on the volume of foreign capital under management in 2025, there were $2.95 trillion of overseas assets in Hong Kong compared with $2.946 trillion in Switzerland. The study said Hong Kong’s greater volume — up 10.7 percent on the previous year — was driven by “mainland China inflows, strong IPO activity, and equity market gains”. Switzerland saw a 7.6-percent increase in the same period. Cross-border wealth flows intensified in 2025 despite geopolitical tensions and trade uncertainties, increasing by 8.4 percent to reach $15.7 trillion worldwide, as investors sought to diversify their assets. “We are seeing wealth creation, cross-border capital flows, and investment ecosystems increasingly concentrate into a smaller number of globally connected hubs,” said Michael Kahlich, a co-author of the study, from BCG in Zurich. “Hong Kong’s rise reflects the growing gravitational pull of Asian wealth and capital markets.” Switzerland, though, remains a key financial centre, offering stability and neutrality in an uncertain geopolitical context, the study said. The Swiss Bankers Association told AFP that the development had taken shape over several years, with asset growth in China being “exceptionally strong”, from which Hong Kong “directly benefits”. Swiss banks “are present there themselves”, it added, as Asia is one of their growth priorities. “For Switzerland’s future, competitive framework conditions are particularly crucial,” the association pointed out, adding that it was “essential that regulation remains targeted”. [...]

India markets regulator dismisses case of inadequate disclosures against NDTV
May 30, 2026 1:42
India markets regulator dismisses case of inadequate disclosures against NDTV

MUMBAI: India’s markets regulator on Friday disposed of proceedings against New Delhi Television Ltd , ruling that the company did not violate disclosure rules. Here are the key details: In 2009, NDTV’s founders entered into a loan agreement that gave the lender options to acquire a significant stake in the broadcaster. In June 2018, the Securities and Exchange Board of India (SEBI) had held that the agreement resulted in a change in control. SEBI began disclosure violation proceedings since NDTV did not disclose the SEBI finding to stock exchanges. The Securities Appellate Tribunal (SAT) set aside SEBI’s ruling in 2022, holding that the agreement did not amount to a change in control as the options were not exercised. In its order on Friday, SEBI noted that since there was no change in control, no disclosure obligation arose, and therefore no violation of listing rules occurred. [...]

PIBF welcomes Pakistan-China MoUs
May 30, 2026 12:48
PIBF welcomes Pakistan-China MoUs

LAHORE: The Pak International Business Forum (PIBF) has welcomed the recently signed Memorandums of Understanding (MoUs) between Pakistan and China for cooperation and investment in multiple sectors including industry, energy, infrastructure, technology, agriculture and trade, terming the development a positive step toward strengthening bilateral economic ties. PIBF President Dr Mushtaq Mangat said that the agreements reflect growing international confidence in Pakistan’s economic potential and strategic importance. He stated that Chinese cooperation can significantly contribute to industrial growth, technology transfer, employment generation and export enhancement if the government creates an environment conducive for investors. “Pakistan and China share a long-standing strategic partnership and these new agreements can become a milestone for economic progress. However, practical steps are required to convert these understandings into real economic activity and sustainable prosperity,” he said. Dr Mushtaq Mangat emphasized that Pakistan’s business community is currently facing enormous challenges due to high electricity tariffs, expensive gas, increasing petroleum prices, high interest rates and multiple taxation-related complications. He said industries cannot compete internationally unless the cost of doing business is brought down to regionally competitive levels. PIBF Secretary General Muhammad Ejaz Tanveer said that while foreign investment agreements are encouraging, the government must simultaneously introduce structural economic reforms to restore investor confidence and strengthen domestic industry. “Reducing the prices of electricity, gas and petroleum products is essential for industrial revival. Without affordable energy and stable economic policies, industries will continue to struggle and foreign investors may hesitate to expand operations in Pakistan,” he said. Muhammad Ejaz Tanveer urged the government to seriously consider the seven-point economic revival agenda proposed by PIBF for sustainable economic growth. He said the agenda focuses on practical reforms aimed at reducing the financial burden on industries and promoting investment. He briefly outlined the seven points, including reduction in interest rates to facilitate business activity, revival of Development Finance Institutions (DFIs) for long-term industrial financing, provision of targeted facilities for exporters and SMEs, broadening of the tax net while lowering excessive tax rates, simplification of the taxation system through digital reforms, provision of regionally competitive electricity and gas tariffs for industries, and implementation of governance reforms to improve efficiency in the energy and economic sectors. Dr Mushtaq Mangat added that Pakistan possesses immense economic opportunities and can attract substantial foreign investment provided there is policy continuity, economic stability and ease of doing business. “The business community fully supports every initiative that strengthens Pakistan’s economy and enhances international cooperation. However, agreements alone are not enough; they must be backed by economic reforms that provide relief to industries, investors and the common man,” he said. Muhammad Ejaz Tanveer reiterated that PIBF would continue to work closely with policymakers, stakeholders and the business community for industrial revival, export growth and sustainable economic development in Pakistan. Copyright Business Recorder, 2026 [...]

Forex reserves hit USD22.646bn mark
May 30, 2026 12:48
Forex reserves hit USD22.646bn mark

KARACHI: Pakistan’s total liquid foreign exchange reserves rose to USD 22.646 billion during the week ended May 22, 2026, compared to USD 22.588 billion in the previous week. According to data released by the State Bank of Pakistan (SBP), the foreign reserves held by the SBP increased by USD 66 million on a weekly basis to reach USD 17.147 billion, up from USD 17.081 billion recorded a week earlier. READ MORE: Forex reserves jump to USD22.59bn Meanwhile, the net foreign reserves held by commercial banks slightly declined to USD 5.499 billion compared to USD 5.507 billion in the preceding week. The state bank said that the surge in the reserves reflecting continued stability in the country’s external account position. The Governor SBP Jameel Ahmed has already projected that SBP’s foreign exchange reserves will reach USD 18 billion mark by end of June 2026. Copyright Business Recorder, 2026 [...]

Salaried individuals: MAP proposes phased super tax cuts & tax relief
May 30, 2026 12:48
Salaried individuals: MAP proposes phased super tax cuts & tax relief

KARACHI: Considering the fragile economic condition in recent years, coupled with the conflict between US and Iran and continued dependence on the International Monetary Fund support program, the Management Association of Pakistan [MAP] understands that there is an increasing need for structural tax reforms aimed at broadening the tax base, encouraging investment and reducing the burden on documented sectors of the economy which are already overburdened with taxes. In these circumstances, a stable, transparent, and investment-friendly fiscal regime has become essential for sustaining economic growth and restoring investor confidence. In view of the above, the MAP has proposed a set of tax reforms for the Federal Budget 2026-27, Corporate sector is currently facing a significant and increasing tax burden due to high corporate tax rates including levy of super tax, WWF and WPPF. Over the years, the cumulative impact of these taxes has substantially increased the cost of doing business. The MAP has proposed that rate of super tax should be gradually reduced under a phased-out plan to be completed by next couple of years. The salaried sector remains one of the most documented and compliant sectors of the economy and continues to contribute a significant share towards direct tax collection in Pakistan. Taxes from salaried individuals are subject to deduction at source by employers, resulting in minimal leakage as compared to other sectors. Over the past few years, the tax burden on salaried class has increased substantially. The MAP recommends enhancing the taxable income threshold for salaried individuals up to Rs. 1.2 million, along with an overall reduction in tax rates under each slab applicable to salaried individuals and the restoration of tax credits relating to investments and insurance premiums. The Association also emphasize the restoration or extension of investment-linked tax credits, considering their significant role in promoting industrialization and generating long-term economic benefits. The Association further propose the rationalization of withholding taxes, including a review of minimum tax provisions and a reduction in the excessive withholding tax rates applicable to services. Further, the Association stressed the need to broaden the tax base by bringing sectors such as agriculture, retail, real estate, and certain undocumented sectors into the tax net, instead of increasing the burden on existing taxpayers. Pakistan’s documented corporate sector is carrying a heavy fiscal burden that is actively choking business expansion, freezing operational liquidity, and penalizing compliance. The MAP sees an urgent, undeniable need for a fair, predictable, and market- friendly tax regime in the Federal Budget 2026-27. Forcing legitimate businesses to repeatedly bridge the revenue gap while the massive informal economy escapes the net is a recipe for economic stagnation. True stability will only come from broadening the tax base using existing data, not from continuously squeezing the few who already pay their fair share. The current restrictions are frankly counterproductive and need a direct correction. We are calling for a gradual reduction of the General Sales Tax from 18% to 15% to give consumers some breathing room against inflation and to lower operational costs for businesses. At the same time, arbitrary tax burdens pushed through utility bills on non-Tier-1 retailers have to stop, and the restrictive 90% input tax adjustment cap under Section 8B must be repealed. Businesses simply cannot thrive when their working capital is constantly choked by compliance hurdles. The FBR needs to simplify complex return processes, phase in digital invoicing realistically based on actual revenue thresholds, and allow unutilized input tax to transfer smoothly during corporate mergers. “We are not asking for special privileges, these are necessary structural corrections. Broadening the tax net, rather than deepening the pain on compliant taxpayers, is the only real way to sustainably grow national revenues. When fiscal policies freeze capital, industrial growth suffocates and investment completely dries up. The math is straightforward; to generate sustainable revenue, the state must first let businesses breathe and grow.” Copyright Business Recorder, 2026 [...]

IMF, World Bank, others warn ME war straining energy supplies
May 30, 2026 12:48
IMF, World Bank, others warn ME war straining energy supplies

WASHINGTON: The heads of the International Energy Agency, International Monetary Fund, World Bank and World Trade Organisation warned on Friday that the war in the Middle East was straining global energy supplies and hitting vulnerable economies hardest. The US-Israel war on Iran has disrupted trade, rattled financial markets and raised concerns over global energy supplies, particularly through the Strait of Hormuz, a key route for oil and gas shipments. The global institutions said that the world economy remained resilient, but the conflict was disproportionately affecting poorer countries through higher fuel and fertilizer prices, increased uncertainty, and risks to jobs. The heads of the groups met on Thursday to discuss how they should respond to the economic impact of the war, they said in a joint statement. US President Donald Trump has said he would decide Friday over a potential deal with Iran to extend their ceasefire that would need to include opening the waterway and dismantling Tehran’s capacity to make a nuclear weapon. [...]

Oil futures fall over 2pc
May 30, 2026 12:48
Oil futures fall over 2pc

HOUSTON: Oil futures fell more than 2 percent on Friday, closing out their steepest weekly decline since early April as traders awaited word that the US, Israel and Iran had reached agreement on a ceasefire. Brent crude futures for July, which expired on Friday, settled at USD92.05 a barrel, down USD1.66, or 1.8 percent. WTI US oil futures finished at USD87.36 a barrel, down USD1.54 or 1.7 percent. “Obviously, the market thinks the ceasefire will be all easy-peasy and is done and dusted,” said John Kilduff, partner with Again Capital. The three-month war between the US and Iran has been marked by frequent chatter of an impending end to the conflict that would open the crucial Strait of Hormuz, used to transit one-fifth of the world’s oil and gas supply. Even with both sides suggesting an agreement was forthcoming, their characterizations of the deal were still somewhat different. READ MORE: Oil prices settle in mixed direction on conflicting reports of US-Iran ceasefire deal Iran’s Fars news agency said the agreement - which it has not decided yet to approve - required Iran to open the strait without restrictions but the Islamic Republic would reopen the waterway “according to its own pre-determined arrangements.” Iran has said after the conflict that it would regulate traffic through the strait, charging fees to transit. US President Donald Trump has said called again on Iran to immediately re-open the strait. The closure of the waterway has driven energy prices sharply higher worldwide. Recent sessions have been volatile, with swings by as much as USD6 for both benchmarks on conflicting signals over a potential reopening of the strait. “The questions are when are we going to open the strait? I wonder when are we going to hit the bottoms of the tanks,” Kilduff said. “I’m surprised prices aren’t higher.” Brent has plunged by about 11 perent this week, its steepest weekly decline in seven weeks. WTI has dropped by more than 9 percent for its biggest weekly loss in six. Both benchmarks hit their lowest price since mid-April. “While oil flows through the Strait of Hormuz remain restricted and oil inventories keep falling, the market focus remains on the possibility of a deal between the US and Iran,” said UBS analyst Giovanni Staunovo. “The price drop could be forcing some market players to close their long positions.” The US and Iran reached a tentative agreement on Thursday to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters. Traffic through the maritime chokepoint remains a small fraction of levels before the conflict. Analysts at ING said a reopening of the waterway would offer some immediate relief to the oil market, but a recovery is still uncertain. Japan, which relies heavily on oil from the Middle East, last month registered a 66 percent drop in crude oil imports compared with April last year. Commerzbank raised its Brent forecasts to USD90 a barrel by the end of September and USD85 by the end of the year, based on a scenario in which the strait remains closed to normal shipping for another two months. US crude, gasoline and distillate stockpiles fell last week, the Energy Information Administration said on Thursday, as demand from refiners and consumers rose, while exports fell by 1.16 million barrels per day to 4.4 million bpd. [...]

Mideast war reshaping national energy strategies: IEA
May 30, 2026 12:48
Mideast war reshaping national energy strategies: IEA

PARIS: The Middle East war is pushing countries to open new supply routes and turn to domestic resources to tide over the world’s biggest energy crisis, the International Energy Agency said Thursday. “We are in the midst of the largest energy security crisis the world has ever faced — and I believe this will reshape investment strategies globally, with parallels to the major changes the energy world witnessed after the oil shocks of the 1970s,” said IEA executive director Fatih Birol. “We are already seeing intensified efforts by both producer and consumer countries to diversify trade routes and energy sources — such as advancing new pipelines and other supply infrastructure, on the one hand, and turning more to domestically available resources, on the other,” he added in the World Energy Investment report by the energy agency of the Organisation for Economic Co-operation and Development (OECD). The IEA estimates that global energy investment will reach $3.4 trillion in 2026, slightly higher than the previous year, with around $2.2 trillion devoted to power grids, storage, low-emission fuels, nuclear, renewables, energy efficiency and electrification. Alongside this, around $1.2 trillion is expected to be invested in oil, natural gas and coal. It nevertheless expects oil investment to decline for the third straight year in 2026, falling below $500 billion despite rising crude prices. This is due to uncertainty over how long higher prices will last, project lead times, supply constraints and the tightening offshore rigs market, which are limiting short-term investment outside the Middle East. By contrast, investment in natural gas is “projected to rise to $330 billion, the highest level in a decade, supported by a wave of new LNG export projects, particularly in the United States and Qatar,” IEA said. At the same time, oil-importing countries are turning to energy sources available domestically, notably renewables, nuclear and coal, the report said. The IEA estimates that investment in renewables should reach around $665 billion in 2026, including $365 billion for solar alone. Investment in nuclear energy and is set to exceed $80 billion annually while investment in coal should reach $180 billion — the highest in 10 years, it said. China alone will account for nearly 70 percent of global coal supply spending, and some Asian countries may seek to extend the operation of their existing coal-fired power plants in order to strengthen their energy security. [...]

Attaining full economic stability need of the hour: Mian Zahid
May 30, 2026 12:48
Attaining full economic stability need of the hour: Mian Zahid

KARACHI: Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan and Chairman Policy Advisory Board FPCCI, has emphasised that the time has now come to transform Pakistan’s defense strength and diplomatic achievements into complete economic stability, as true national security is impossible without financial self-reliance. Reflecting on the economic landscape, Hussain expressed deep concern that despite being a nuclear power, Pakistan continues to face fiscal imbalances and economic weaknesses. “While current macroeconomic stabilisation efforts have shown some progress, pushing foreign exchange reserves to USD22.58 billion, keeping GDP growth around 3.7 percent, and bringing the central bank’s policy rate down from 22 percent to 11.5 percent, the foundation of the economy remains fragile.” He pointed out that due to a revenue collection shortfall of Rs800 billion, the fiscal deficit is feared to reach nearly 5.8 percent of GDP, while the public debt-to-GDP ratio continues to fluctuate between 70 and 80 percent. He added that debt servicing consumes almost two-third of the government’s total revenues, leaving negligible fiscal space for development projects. Outlining the way forward, Mian Zahid urged the government to adopt strict fiscal discipline in the upcoming federal budget, expand the tax net to undocumented sectors, and reduce the burden on existing taxpayers and industries. He said that the focus of national policy must shift toward structural reforms, digitalisation of economy, improvement of energy sector, and creation of a favourable environment for foreign investment. He concluded that the same spirit, national unity, and strong political will as demonstrated on May 28, 1998, and May 10, 2025, must now be directed toward economic revival and national development so that Pakistan’s economic strength can become as invincible as its defense capability. Mian Zahid said that the foundation of Pakistan’s nuclear program was laid by Prime Minister Zulfikar Ali Bhutto and Dr Abdul Qadeer Khan, and it was later carried forward and brought to completion by successive governments. He said that after achieving nuclear capability and strengthening its missile program, Pakistan once again demonstrated its military strength last year on May 10 under the leadership of Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir. Copyright Business Recorder, 2026 [...]

FBR offices to remain open today, tomorrow
May 30, 2026 12:48
FBR offices to remain open today, tomorrow

ISLAMABAD: For facilitation of the taxpayers, the FBR has directed that all Large Taxpayers’ Offices (LTOs), Medium Taxpayers’ Offices (MTOs), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs) shall remain open on Saturday (May 30) and Sunday (May 31). These offices will observe Saturday and Sunday as normal working days for collection of duties and taxes, the FBR added. Copyright Business Recorder, 2026 [...]

Entire textile value chain has been battling against particular mindset: PTEA
May 30, 2026 12:48
Entire textile value chain has been battling against particular mindset: PTEA

ISLAMABAD: Khurram Mukhtar, Patron-in-Chief, Pakistan Textile Exporters Association (PTEA) has said Pakistan’s export sector and the entire textile value chain are unfortunately fighting against a certain mindset that appears bent upon penalising the very ecosystem that earns foreign exchange, creates jobs and sustains documented economic activity. “The harsh reality today is that the more exporters grow, the more they are burdened. In many cases, the more you export, the more you lose,” he said. Mukhtar said that exporters are the driving force of the entire textile chain. From cotton growers, ginners, spinners, weavers, knitters, and processors and garment manufacturers to home textile exporters and finished product manufacturers, the entire chain ultimately survives and grows through exports. If exports slow down, the impact cascades across the entire economy, affecting farmers, labours, transporters, ancillary industries and millions of livelihoods connected directly and indirectly with the sector, he said. The government’s own documented figures reveal that the shift from the Final Tax Regime (FTR) to the Normal Tax Regime (NTR) has resulted in an estimated additional revenue extraction of approximately PKR 90 billion. Exporters alone have paid nearly PKR 200 billion in excess on account of advance income tax during FY25 and FY26, he said. PTEA Pattern in Chief further stated that the entire textile chain, after extensive deliberations and consensus-building among all stakeholders, jointly proposed that exporters should have the option to remain under FTR or voluntarily opt for NTR. This was perhaps one of the rare moments in Pakistan’s history where the entire textile chain converged upon one concrete and balanced proposal. Unfortunately, even this unified recommendation does not appear to be receiving serious consideration, he said. At the same time, the entire export framework is structured in a manner where exporters’ liquidity remains perpetually trapped in the refund regime. Pakistan already has one of the highest levels of capital blockage in refunds within the region. Exporters are forced to finance their own legitimate refunds through expensive bank borrowing, resulting in an enormous financial cost running into hundreds of billions of rupees, he said. On one hand, Cash in Circulation (CIC) continues to rise, systematically incentivising the undocumented economy, while on the other hand, compliant and documented businesses continue to face increasing taxation, regulatory burden and liquidity stress. Export-led growth has increasingly become mere rhetoric rather than an actionable national priority, he continued. The Export Facilitation Scheme (EFS) was one of the few excellent reforms introduced in recent years. It was fully digitalised and brought transparency and efficiency into the system. However, the exclusion of domestic commerce from EFS significantly increased the burden on exporters and disrupted the integrated textile value chain, he said. More surprisingly, even cotton remains excluded from EFS despite the fact that Pakistan’s domestic cotton production is insufficient to cater to the annual consumption requirements of the textile industry. Decisions are being made in isolation rather than by viewing the textile chain as one integrated ecosystem. A simple numerical assessment of the sector’s liquidity flows, taxation burden, energy costs and refund blockages clearly explains why Pakistan has struggled to achieve sustained export growth despite possessing surplus industrial capacity and established global market access, he said. “The unfortunate reality is that everyone knows the illness, yet the cure remains unavailable. We continue to operate through ad-hocism, short-termism and misplaced priorities instead of adopting a strategic long-term export-led growth model,” he maintained. The export sector has consistently proposed constructive and evidence-based reforms. We have repeatedly stressed that super tax should be abolished in a phased manner along with Minimum Turnover Tax (MTR), inter-company dividend taxation and taxation on bonus shares, particularly when bonus shares are a non-cash item and do not represent actual income generation, he continued. Similarly, we have proposed a progressive GST framework aimed at unlocking industrial liquidity and reducing cascading effects within the value chain. Under this proposal, raw materials may be taxed at 5 percent, fabrics at 10 percent and finished products at the standard GST rate, thereby ensuring that the primary revenue collection takes place at the finished product stage instead of trapping capital throughout the manufacturing chain, he said, adding such measures can substantially improve liquidity, documentation and competitiveness. Unfortunately, despite extensive engagement, there appears to be little willingness to consider structural solutions. Exports are a federal subject, yet provincial governments are further burdening the export sector through additional levies, duties and costs, leaving no stone unturned to make Pakistani exports less competitive globally. Simultaneously, there is still no meaningful roadmap visible for reducing industrial energy costs to regionally competitive levels, he regretted. The few documented and compliant businesses left in the country are effectively carrying the burden of inefficiencies, leakages and social obligations of the entire system. In many cases, exporters are even providing transportation and logistics support to their workforce, responsibilities that ordinarily fall within the domain of the state. These inefficiencies continue accumulating within the cost structure, yet Pakistan expects its exporters to compete globally against highly efficient economies. We simply cannot export inefficiencies to international markets, said Mukhtar. The overall picture presents a serious dilemma for Pakistan. The world is actively moving towards supply chain diversification, and Pakistan possesses surplus industrial capacities, entrepreneurial capability and established global retailer relationships. The textile sector alone has the potential to increase exports by an additional USD4–5 billion within a short period, provided a supportive ecosystem is created. Such growth can create millions of direct and indirect jobs, improve industrial utilisation, generate substantial tax revenues through economic expansion and strengthen Pakistan’s external account, he said. The opportunity is historic, but so is the risk of missing it entirely due to policy inertia, ad-hocism and failure to understand the integrated nature of the textile ecosystem. The time to act is now. The question is: who will demonstrate the vision, courage and seriousness required to change the direction, he concluded. Copyright Business Recorder, 2026 [...]

Oil prices fall 2% as market awaits possible US-Iran ceasefire deal
May 29, 2026 5:57
Oil prices fall 2% as market awaits possible US-Iran ceasefire deal

HOUSTON: Oil futures fell more than 2% on Friday and were on track for their steepest weekly decline ​since early April after reports that the U.S. and Iran had reached agreement on a potential ceasefire extension. Brent crude futures for ‌July , which expire later on Friday, were down $1.74, or 1.86%, at $91.97 a barrel by 10:58 a.m. CDT (1558 GMT). The more active August contract was down $1.64, or 1.77%, at $91.06. WTI U.S. oil futures were down $1.35, or 1.52%, at $87.55. It was not a smooth downward slope for futures throughout Friday, however, with comments from U.S. President Donald Trump ​about an agreement and possible military action against Iran. “It’s Trump talking out of both sides of his mouth,” said Phil Flynn, ​senior analyst with the Price Futures Group. “He’s favoring a deal then talking about military action.” Iran’s Fars news agency ⁠reported that the Iranian government was in the final stages of ratifying an agreement with the United States, but had not made the final ​decision to approve the deal. Fars also said the agreement would not require Iran to open the Strait of Hormuz without restrictions but the Islamic ​Republic would reopen the waterway “according to its own pre-determined arrangements.” Iran has said after the end of the conflict with the U.S. and Israel it would regulate traffic through the strait, charging fees to transit. Trump has said the proposed agreement would require Iran to open the waterway without restriction. The Brent benchmark has plunged by about 11% ​this week for its steepest weekly decline in seven. WTI, meanwhile, has dropped by more than 9% for its biggest weekly loss in six. ​Both benchmarks hit their lowest price since mid-April. “While oil flows through the Strait of Hormuz remain restricted and oil inventories keep falling, the market focus remains ‌on the ⁠possibility of a deal between the U.S. and Iran,” said UBS analyst Giovanni Staunovo. “The price drop could be forcing some market players to close their long positions.” The U.S. and Iran reached a tentative agreement on Thursday to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters. Oil prices have been volatile in recent sessions, swinging by as much as $6 for both benchmarks on conflicting signals over a possible ​end to the Iran war and potential ​reopening of the Strait of ⁠Hormuz, which was previously a conduit for a fifth of the world’s oil and liquefied natural gas supplies. Traffic through the maritime chokepoint remains a small fraction of levels before the conflict. Analysts at ING said a reopening ​of the waterway would offer some immediate relief to the oil market, but a recovery is still ​uncertain. Japan, which relies heavily ⁠on oil from the Middle East, last month registered a 66% drop in crude oil imports compared with April last year. Commerzbank raised its Brent forecasts to $90 a barrel by the end of September and $85 by the end of the year, based on a scenario in which the Strait of Hormuz ⁠is expected to ​remain closed to normal shipping for another two months. Meanwhile U.S. crude, gasoline and distillate ​stockpiles fell last week, the Energy Information Administration said on Thursday, as demand from refiners and consumers rose and exports fell by 1.16 million barrels per day to 4.4 million ​bpd. [...]

Budget FY26-27: President summons session on June 5
May 29, 2026 5:52
Budget FY26-27: President summons session on June 5

President Asif Ali Zardari has summoned the budget session for fiscal year 2026-27 of the Senate and National Assembly on June 5 (Friday), the President’s House said on Wednesday. The NA session will be held at 5pm on Friday, while the Senate session will be held at 6pm on June 5. The session has been convened under Article 54(1) of the Constitution. Last week, the National Assembly Standing Committee on Finance and Revenue directed the Tax Policy Unit of the Ministry of Finance and the Federal Board of Revenue (FBR) that the federal budget (2026–27) must move beyond short-term stabilisation measures and instead serve as a platform for sustainable economic reform, fiscal transparency, improved governance and inclusive growth. The Standing Committee on Finance and Revenue expressed serious concern about the continued reliance on indirect taxation and petroleum levies instead of sustainable tax-base expansion. During the briefing, the Committee was informed that Pakistan remains on a “fragile stabilisation path” despite signs of gradual economic recovery. GDP growth for FY2026–27 is projected between 3.5% and 4.5%, while inflation has once again entered double digits, reaching 10.9% year-on-year in April 2026. Earlier, the Ministry of Finance dismissed reports that Prime Minister Shehbaz Sharif handed the budget-making process to Deputy Prime Minister Ishaq Dar, calling the claims “factually incorrect” and “misleading”. The ministry said that the story, published in a local media outlet, “incorrectly portrays the constitution of a high-level review committee by the Prime Minister as a ‘handover’ of the budget-making process from the Finance Division or as a ‘sidelining’ of the finance minister”. “This interpretation is factually incorrect, misleading and does not reflect the actual mandate or functioning of the committee,” it said. [...]

Second round of Centre-JPAC talks begins
May 30, 2026 9:34
Second round of Centre-JPAC talks begins

MUZAFFARABAD: The second round of important talks between the Federal Negotiation Committee and the Joint Public Action Committee began in Muzaffarabad on Saturday, with discussions focusing on a 38-point charter of demands, including the contentious issue of abolishing 12 refugee seats. The negotiations resumed after a brief break in proceedings. Federal Minister Ahsan Iqbal is not participating in the second round of talks, while a delegation of federal ministers and political leaders is engaging in the dialogue on the instructions of Prime Minister Shehbaz Sharif. The federal negotiating team includes ministers Rana Sanaullah and Dr. Tariq Fazal Chaudhry, along with other political figures. Senior politicians, including former prime ministers Raja Pervez Ashraf and Qamar Zaman Kaira, are also part of consultation meetings, according to sources. From Azad Kashmir’s political spectrum, Prime Minister Faisal Mumtaz Rathore, PML-N President Shah Ghulam Qadir, Chaudhry Yasin, and several other leaders are participating in the talks. Members of the Joint Public Action Committee, including Shaukat Nawaz Mir, Omar Nazir, Raja Amjad, Saad Ansari, Sardar Arbab, Abid Aslam, Imtiaz Aslam, and Khan Ilyas, are also present. Additional participants include Raja Ghulam Mujtaba, Mujtaba Bande, Faisal Gilani, Tauseef Jaral, Iftikhar Zaman, Raja Sohaib, and Anjum Zaman. The federal delegation arrived in Muzaffarabad on Saturday, while Pakistan People’s Party representatives had reached a day earlier. Prior to the talks, federal ministers held consultations with PML-N President Shah Ghulam Qadir and other political stakeholders. Azad Jammu and Kashmir Chief Secretary Khushal Khan Khattak is hosting the negotiations, which include representatives from the federal government, the Azad Kashmir administration, and other key stakeholders. [...]

LHC to hear plea against FBR’s reward rules case on June 4
May 30, 2026 9:34
LHC to hear plea against FBR’s reward rules case on June 4

ISLAMABAD: The Lahore High Court (LHC) will hear the writ petition against the Federal Board of Revenue’s (FBR’s) reward system for tax officials on June 4, 2026. The petitioner has claimed that the FBR has reportedly approved a significant enhancement in performance-based rewards for Inland Revenue Service (IRS) officers, raising the reward ceiling to 24 monthly salaries per financial year. The petitioner said that the austerity measures, announced by PM Shahbaz just weeks ago, include a four-day working week, a 50 percent work-from-home mandate, salary deductions for Cabinet members and parliamentarians, a 60 percent reduction in government transport expenditure, and a complete ban on official dinners, signaling a broader government push toward fiscal restraint. When contacted, the petitioner, Waheed Shahzad Butt, in two pending writ petitions before the LHC said that a representation has also been moved before the prime minister, the finance minister and FBR chairman while writ petitions have been fixed for hearing before LHC for June 4, 2026. The said tax adviser has already before the LHC in two writ petitions, directly challenging the legality of the FBR’s reward regime. In the said petitions, he argued that the Inland Revenue Reward Rules 2021 and the Customs Reward Rules 2012 are ultra vires the FBR Act 2007, that the Board-in-Council itself lacks proper legal standing because its members have not been appointed by the federal government as required, and that the forced peer-ranking system used to determine rewards is irrational and without legal basis, he claimed. Copyright Business Recorder, 2026 [...]

FIA offloads passenger carrying two passports
May 30, 2026 9:34
FIA offloads passenger carrying two passports

ISLAMABAD: Federal Investigation Agency (FIA) Immigration Islamabad offloaded a Saudi-bound passenger at Islamabad International Airport after recovering two Pakistani passports containing conflicting personal particulars. An official told APP on Saturday that passenger Hazrat Muhammad was intercepted during immigration clearance after his travel documents were found suspicious. The official said two separate Pakistani passports were recovered from his possession, carrying discrepancies in key personal details, including his father’s name and date of birth. During detailed scrutiny, serious irregularities were detected in the documents, prompting immigration authorities to offload the passenger and refer him for further investigation. [...]

FCCI greets nation on Youm-e-Takbeer
May 30, 2026 9:34
FCCI greets nation on Youm-e-Takbeer

FAISALABAD: Vice President (VP) Faisalabad Chamber of Commerce & Industry (FCCI) Engineer Asim Munir has warmly extended his congratulations to the entire nation and the business community on the historic anniversary of Youm-e-Takbeer, commemorating the day Pakistan successfully conducted its atomic tests in 1998 to become the world’s seventh nuclear power. In a special statement here on Saturday, Vice President FCCI Engineer Asim Munir said that May 28 remains a historic milestone in the country’s history, symbolizing unparalleled national cohesion, strategic defiance and self-reliance. He paid rich tribute to the political leadership, defense scientists, and military institutions of the time whose untiring efforts made the country’s defense invincible. “A strong defense is the foundational prerequisite for economic prosperity. [...]

Police foil ammunition smuggling bid
May 30, 2026 9:34
Police foil ammunition smuggling bid

PESHAWAR: The Badhber police on Saturday foiled a smuggling attempt and arrested a suspect transporting a massive cache of ammunition. Acting on a tip-off, police intercepted a cargo van near Afridi Road on Kohat Road. A subsequent search of the vehicle led to recovery of 50,000 cartridges of various bores. The suspect identified as Noman was reportedly attempting to smuggle ammunition from Darra Adam Khel to country’s southern regions. A case has been registered against the accused, and investigation is underway. [...]

FDE employees welcome regular DG’s appointment
May 30, 2026 9:34
FDE employees welcome regular DG’s appointment

ISLAMABAD: The employees, including teachers and non-teaching staff of the Federal Directorate of Education (FDE), have welcomed the appointment of a regular Director General after a gap of nearly three years, describing it as a positive development that is expected to help resolve long-pending administrative and service-related issues. Following the recommendation of the Federal Public Service Commission (FPSC), the Prime Minister appointed Javed Iqbal Mirza as DG (BS-21) of the FDE, who assumed charge on Friday. In an official notification issued by the Ministry of Education, it was mentioned that “in accordance with the recommendation of the Federal Public Service Commission, the Prime Minister has been pleased to appoint Javed Iqbal Mirza as Director General (BS-21) of the Federal Directorate of Education, Islamabad under the Ministry of Federal Education and Professional Training with immediate effect.” The FDE is a regulatory body responsible for managing the affairs of more than 430 institutions in Islamabad. Teachers termed the end of the prolonged administrative vacuum as a significant relief and hoped that the long stagnation in the organisation would now come to an end. Professor Akram Khan Khosa, President of the Federal Government College Teachers Association, said that with the arrival of regular leadership, it is expected that long-awaited matters, such as the processing of higher time scale cases, will finally be processed. The FDE, which oversees more than 430 schools and colleges in Islamabad, had been facing delays in decision-making since the post fell vacant in July 2023, creating uncertainty among employees. Officials acknowledged that the new DG will face major challenges, including the need for new Federal Government Colleges, especially in rural areas. Aysha Kiran, vice president, expressed optimism that the restoration of permanent leadership will improve governance and help address issues affecting both academic standards and teachers’ welfare across federal educational institutions. Copyright Business Recorder, 2026 [...]

PPP announces 300 officeholders ahead of LG polls
May 30, 2026 9:34
PPP announces 300 officeholders ahead of LG polls

LAHORE: The Pakistan People’s Party (PPP) has stepped up its organisational restructuring campaign in Lahore, announcing the issuance of formal notifications to around 300 party officials across 20 zones of five towns on May 31. Lahore PPP President Faisal Mir said the initiative is part of the party’s broader strategy to strengthen its grassroots presence ahead of the upcoming local government elections, with the entire reorganisation expected to be wrapped up within a matter of weeks. The five towns earmarked for the first phase of zonal announcements are Iqbal Town, Raiwind Town, Ravi Town, Shalimar Town, and Nishtar Town. Mir said the remaining five towns — Model Town, Wahga Town, Sadar Town, Cantt Town, and City Town — will have their zonal officeholders announced by June 5, ensuring that the first tier of reorganisation across all ten towns is completed well ahead of schedule. In the second phase, the party plans to issue notifications to nearly 6,000 officials spread across approximately 450 union councils, with the process set to begin on June 7 and all union council-level organisations to be formally announced by June 25. Mir also confirmed that the restructuring effort extends beyond the main party body to include its full range of affiliated wings, among them the Women Wing, Youth Wing, Minority Wing, Labour Wing, Lawyers Wing, Cultural Wing, Traders Wing, Doctors Forum, Study Circle, Human Rights Wing, and the Pakistan Students Federation, all of which are being reorganised under the same comprehensive plan. Outlining the party’s electoral ambitions, Mir said the PPP intends to contest every single seat in Lahore in the next local government elections. With preparations underway for nearly 6,000 candidates, he expressed confidence that the party would reassert itself as the dominant political force in the city. Copyright Business Recorder, 2026 [...]

LHC says teenager’s custody cannot be decided against his or her consent unless...
May 30, 2026 9:34
LHC says teenager’s custody cannot be decided against his or her consent unless...

LAHORE: The Lahore High Court (LHC) has held that custody of a teenager cannot be decided against his/her consent, unless the matter is adjudicated by a guardian court. Respecting the autonomy of grown-up children is not only a legal necessity but also a moral imperative that strengthens the fabric of society, the court added. The court passed this order in a habeas petition filed a father of a minor Kinza Rani for her recovery from her mother. The court remarked that every citizen, regardless of gender or social standing, possesses the inherent right to liberty. The court said any constraints upon such liberty must be examined and resolved through competent judicial forums, where impartiality and justice prevail, rather than through coercion or arbitrary decisions imposed by family or community elders. The court observed that the responsibility of the state and society is to ensure that individuals are not left vulnerable to familial or communal coercion. Legal systems, social welfare institutions, and community organizations must work together to safeguard liberty, provide psychological support, and uphold justice, the court added. The court noted that the minor Kinza Rani declined to accompany her father, expressing fear and distress due to the conduct of her stepmother, and instead voluntarily chose to reside with her aunt (Khala). The court, therefore, said that she cannot be compelled either to live with her father or to be placed in a shelter home without her consent. The court also observed that custody of such minor cannot be invoked under the Punjab Destitute and Neglected Children Act or the Punjab Protection of Women against Violence Act. The court remarked that to safeguard against potential misuse, any interested party seeking custody may file a habeas petition for an interim report and information, and ultimately approach the guardian court. The court ordered that she be lodged in Dar-ul-Amaan until her custody is regulated in accordance with law. Copyright Business Recorder, 2026 [...]

Lesco asks officers to achieve recovery targets
May 30, 2026 9:34
Lesco asks officers to achieve recovery targets

LAHORE: The management of the Lahore Electric Supply Company (LESCO) has assigned special monitoring responsibilities to various officers as part of efforts to strengthen its recovery campaign and ensure the achievement of financial targets before the end of the fiscal year. According to a LESCO spokesperson, under a recently issued schedule, the designated officers will monitor running defaulters, dead defaulters, and deferred payments in their respective circles until May 31. The initiative aims to improve and accelerate the recovery process. Under the special monitoring plan, the Manager Commercial has been assigned to oversee the South Circle, the Manager S&I the Okara Circle, the Manager CMU the Northern Circle, and the Assistant Manager CS the Central Circle. Meanwhile, the Deputy Manager S&I will monitor the Kasur Circle, the Deputy Manager CS the Eastern Circle, and the Deputy Manager D&I the Sheikhupura and Nankana circles. The assigned officers will review recovery operations and supervise the performance of field staff to ensure effective implementation of recovery measures. LESCO Chief Executive Officer Engr Ramzan Butt said the initiative is intended to enhance the recovery of outstanding dues, expedite action against defaulters, and enable the company to achieve its recovery targets within the stipulated timeframe. Copyright Business Recorder, 2026 [...]

CM announces Rs10,000 each for exceptional cleanliness services
May 30, 2026 9:34
CM announces Rs10,000 each for exceptional cleanliness services

LAHORE: Chief Minister Punjab Maryam Nawaz, while appreciating the outstanding performance of Suthra Punjab workers, announced a cash reward of Rs 10,000 each for those who rendered exceptional services during the operation. Punjab Minister for Information and Culture Azma Bokhari said that citizens across Punjab have expressed satisfaction and appreciation over the successful execution of the Eid sanitation campaign. She also thanked the people of Punjab for their cooperation, sense of responsibility, and active support in making the operation a success. The Information Minister added that extensive use of rose water, phenyl, and lime was made to protect citizens from foul odors and environmental pollution. Nearly 4,000 roads across the province were washed with rose water, further enhancing sanitation standards, she added. Azma Bokhari further stated that Suthra Punjab teams ensured the cleanliness of 60,000 mosques, imambargahs, and Eidgahs, while the Suthra Punjab Helpline successfully resolved 100 percent of the complaints received from citizens in a timely manner. She said that the province-wide Eid sanitation operation, carried out under the directives and continuous supervision of Chief Minister Maryam Nawaz, has concluded successfully. Azma Bokhari stated that under the Suthra Punjab Program, a total of 360,000 tons of sacrificial animal waste and other refuse was collected and safely disposed of during the three days of Eid-ul-Azha. More than 184,000 sanitation workers and 60,000 vehicles participated in the large-scale operation, ensuring uninterrupted cleanliness services across both urban and rural areas of the province. She said that waste collection vehicles collectively travelled over 6 million kilometers, while sanitation activities continued without interruption in every district of Punjab—from Lahore to Attock and from Multan to Rahim Yar Khan and Sadiqabad. Copyright Business Recorder, 2026 [...]

Likely torrential rains: CM asks departments to remain on high alert
May 30, 2026 9:34
Likely torrential rains: CM asks departments to remain on high alert

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has directed the line departments across the province to remain on high alert during torrential rains and ensure comprehensive measures for public safety and rainwater management. The chief minister instructed authorities to ensure the timely drainage of rainwater and ordered continuous supervision and effective monitoring of Water and Sanitation Agency (WASA) operations. She also directed the uninterrupted monitoring of drains, rainwater channels and ordered the Irrigation Department to keep its teams fully alert and maintain constant surveillance of water flows in canals. The CM Maryam further directed to ensure that all manholes in urban and rural areas are properly covered and emphasized that rainwater should not be allowed to accumulate in urban localities. The CM instructed all departments concerned to implement necessary precautionary measures during the rains. She ordered strict safety arrangements at construction sites to prevent any untoward incidents and called for special monitoring of dilapidated and structurally vulnerable buildings. District administrations have been directed to issue public alerts regarding the risk of roof collapses and take preventive measures to safeguard lives and property. To maintain smooth traffic flow during adverse weather conditions, the chief minister ordered special arrangements on major highways and key roads across the province. She directed the Punjab Safe Cities Authority and Chief Traffic Officer (CTO) teams to remain fully vigilant. She instructed field teams to remain fully prepared for public guidance, emergency response and the protection of citizens’ lives and property during the rainfall. “All relevant institutions must remain active, vigilant and responsive to ensure the safety of citizens and protect life and property across Punjab,” the Chief Minister said. Copyright Business Recorder, 2026 [...]

Khanewal Chamber for cut in power tariffs
May 30, 2026 9:34
Khanewal Chamber for cut in power tariffs

LAHORE: President Khanewal Chamber of Commerce and Industry Khawaja Ataur Rehman have expressed serious concern over the continuous increase in electricity tariffs and heavy capacity charges, stating that the industrial sector has been pushed to the brink of collapse. Speaking to a delegation of traders and journalists, he said factories, textile units, small industries and the agricultural sector across the country were facing a severe crisis due to the unprecedented rise in production costs. He warned that Pakistani products were rapidly losing competitiveness in international markets because of expensive electricity. He urged the government to immediately review agreements with Independent Power Producers (IPPs) and abolish what he termed “unjustified capacity charges” included in electricity bills in order to save industry, agriculture and businesses from destruction. Responding to a question, Khawaja Ataur Rehman said IPP agreements had become a major burden on the national economy and consumers were being forced to pay billions of rupees every month in capacity charges even without consuming electricity. He added that if the government genuinely wanted to provide relief to the public and revive industrial activity, it should clearly announce the elimination of capacity charges in the upcoming federal budget. He said expensive electricity had severely affected not only industrialists but also ordinary citizens, traders, farmers and the export sector. The closure of industries, he added, was increasing unemployment and creating stagnation in economic activities. He warned that if electricity prices were not reduced in real terms, the industrial crisis would intensify further, with serious consequences for the overall national economy. Copyright Business Recorder, 2026 [...]

PM visits Altaf Qureshi’s residence; pays tributes
May 30, 2026 9:34
PM visits Altaf Qureshi’s residence; pays tributes

LAHORE: Prime Minister Muhammad Shehbaz Sharif visited the residence of veteran journalist late Altaf Hassan Qureshi in Lahore Saturday, to offer condolences with the bereaved family. Paying tribute to Altaf Hassan Qureshi’s services to journalism, the Prime Minister said he was an outstanding journalist and a man of great character. Copyright Business Recorder, 2026 [...]

Pakistan committed to strengthening ties with US: Gilani
May 30, 2026 9:34
Pakistan committed to strengthening ties with US: Gilani

LAHORE: Chairman Senate Syed Yousaf Raza Gilani has reiterated Pakistan’s commitment to strengthening its longstanding relationship with the United States. He expressed these views during his meeting with the United States Consul General Stetson Sanders in Lahore on Saturday. Both exchanged views on matters relating to Pakistan-US relations in trade and investment besides regional peace and security. The Chairman Senate appreciated the confidence reposed by President Donald Trump and his administration in Pakistan’s constructive role for regional peace and diplomacy. Also read: Pakistan, US delegation agree to strengthen security, border cooperation He emphasized the need to further expand cooperation in trade, investment, Information Technology, energy, minerals, health, education, and agriculture sectors. Expressing concern over India’s unilateral actions regarding the Indus Waters Treaty, Chairman Senate called upon the international community to support for restoration of treaty obligations and adherence to international law. Copyright Business Recorder, 2026 [...]

Eid cleanliness drive: Punjab sets multiple new records
May 30, 2026 9:34
Eid cleanliness drive: Punjab sets multiple new records

LAHORE: Punjab established multiple new records during its grand Eid-ul-Azha cleanliness operation, with 184,000 sanitation workers and 60,000 vehicles participating in the province-wide campaign, covering an area of 6 million kilometres and removing 360,000 tonnes of animal waste and offal. Punjab Chief Minister Maryam Nawaz Sharif expressed gratitude over the successful execution of the Eid-ul-Azha cleanliness campaign and commended the entire team for its efforts during the three days of Eid. “The success of this unparalleled and historic Eid-ul-Azha cleanliness operation is the result of outstanding teamwork,” the chief minister said, adding that an exceptional spirit of coordination, commitment and dedication was demonstrated throughout the three-day operation. The CM praised the contributions of the local government minister, inspector general of police, commissioners, deputy commissioners, district administrations, the director general of Suthra Punjab, managing directors of WASA, the Safe City team, police, Special Branch, social media teams and all participating departments. She said all officers and personnel involved in the cleanliness operation deserved appreciation for their services. The chief minister noted that the efficient cleanliness and waste disposal arrangements, security measures and continuous monitoring during Eid-ul-Azha had set an example of effective public service delivery. She said the operation provided citizens with visible relief and convenience through unprecedented cleanliness standards. The CM Punjab further said the entire team worked in a coordinated and focused manner, demonstrating cooperation, commitment and tireless efforts around the clock. “A highest-ever standard of cleanliness was achieved during Eid-ul-Azha this year,” she said, adding that the operational response of the cleanliness campaign had been widely appreciated at every level. The chief minister also said that officers and their teams who ensured the responsible implementation of standard operating procedures (SOPs) in the field during Eid deserved special recognition. “I am confident that the same spirit of teamwork will continue to be demonstrated in serving the people in the future as well,” she added. Copyright Business Recorder, 2026 [...]

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‘It is such a fine line’: I am a CFP and see nothing wrong with networking on the golf course. Am I wrong?
May 30, 2026 8:58
‘It is such a fine line’: I am a CFP and see nothing wrong with networking on the golf course. Am I wrong?

“I would love to develop working relationships with almost everyone I play golf with.” [...]

‘I have no preexisting conditions’: I’m 56, earn $198,000 and want to retire early. Can I afford private healthcare?
May 30, 2026 8:55
‘I have no preexisting conditions’: I’m 56, earn $198,000 and want to retire early. Can I afford private healthcare?

“I’m trying to figure out whether it’s worth my while achieving FIRE.” [...]

As Big Tech’s power demand surges, data centers bring utilities a huge new profit center
May 30, 2026 6:56
As Big Tech’s power demand surges, data centers bring utilities a huge new profit center

The market hasn’t fully priced the next logical step for the AI buildout: Big Tech acquiring regulated utilities outright. [...]

China’s next export shock walks on two legs — and costs less than a used car
May 30, 2026 6:50
China’s next export shock walks on two legs — and costs less than a used car

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

Why double-digit earnings growth won’t stop the next bear market
May 30, 2026 6:46
Why double-digit earnings growth won’t stop the next bear market

Spiking S&P 500 profits often signal the final innings of a bull market. History says stocks are on thin ice. [...]

America is losing the AI productivity war to 3.5 million Chinese STEM graduates
May 30, 2026 6:36
America is losing the AI productivity war to 3.5 million Chinese STEM graduates

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

This bear market signal Wall Street ignores is putting your money at risk right now
May 30, 2026 6:25
This bear market signal Wall Street ignores is putting your money at risk right now

Veteran trader Steve Burns prepares for a 50% decline and exposes the 3 “deadly stock-market sins” destroying portfolios. [...]

Your portfolio can’t afford the real bill for the Iran war
May 30, 2026 6:18
Your portfolio can’t afford the real bill for the Iran war

The Pentagon claims the conflict has cost $29 billion — but the true cost is much higher and it’s fueling inflation. [...]

My friend, 62, earns $20,000 a year. Should she take Social Security now — and claim survivor’s benefit at 67?
May 30, 2026 3:18
My friend, 62, earns $20,000 a year. Should she take Social Security now — and claim survivor’s benefit at 67?

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

My husband took out a $100,000 Parent PLUS loan for his daughter. She dropped out, citing mental-health issues. Should we refinance?
May 30, 2026 3:10
My husband took out a $100,000 Parent PLUS loan for his daughter. She dropped out, citing mental-health issues. Should we refinance?

“There is little to no chance that she will ever be able to repay these loans.” [...]

Wall Street’s red-hot momentum trade is still winning with record 2-month gain
May 30, 2026 1:53
What would cause the Fed to hike rates this year? The answer might surprise you.
May 30, 2026 1:12
‘Three A’s’ are keeping the economy afloat. Is it enough to avoid a recession?
May 29, 2026 9:54
One of the hottest crypto products in the world is finally coming to the U.S.
May 29, 2026 8:59
Dow, S&P 500 and Nasdaq close at fresh record highs on hopes for U.S.-Iran deal
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Dow, S&P and Nasdaq on pace to close at records in final hour on Iran deal hopes
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Dell’s record stock rally giving a big boost to shares of other server makers
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Oil prices see sharpest monthly drop since 2020. Here’s what comes next.
May 29, 2026 5:21
Stocks up as Trump says he's making a 'final determination' on Iran-deal meeting
May 29, 2026 3:26
Stocks open higher with S&P 500 set to climb for 9th straight week
May 29, 2026 1:32
Jobless claims fall to lowest level since mid-May
July 3, 2025 12:36
Jobless claims stay low in latest week
February 13, 2025 1:33
Consumer credit growth soars in December
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U.S. productivity slows down in fourth quarter while unit labor costs accelerate
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Beyond to buy rights to Buy Buy Baby brand and reunite it with Bed Bath & Beyond
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Trump asks Supreme Court to pause TikTok ban
December 28, 2024 12:32
Amazon says it had best-ever Thanksgiving Holiday week with record sales and number of items sold
December 3, 2024 2:05
U.S. stock futures and bond yields drop on reports Putin has updated nuclear doctrine
November 19, 2024 8:55
Charter Communications announces buyout deal for Liberty Broadband at terms above its previous proposal
November 13, 2024 1:52
General Motors unveils new all-electric Cadillac called the Vistiq with 300-mile range
November 12, 2024 1:53
Vestas Wind Systems stock slumps as company says margins to be at low end of guidance
November 5, 2024 8:39
Burberry shares rise on report Moncler could bid for it
November 4, 2024 8:36
Kazatomprom reports 17% increase in production during the third quarter
November 1, 2024 7:36
Anheuser-Busch InBev shares slip as sales come up shy of estimates
October 31, 2024 8:09
Wingstop’s stock slides 12% after profit falls short of estimates
October 30, 2024 12:22
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  • About
    • Vision & Mission
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