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Gold price drops by Rs12,627 per tola in Pakistan

June 10, 2026 8:40

Gold prices in Pakistan decreased on Wednesday in line with their loss in the international market. In the local market, gold price per tola reached Rs442,436 after a decline of Rs12,627 during the day. Similarly, 10-gram gold was sold at Rs378,170 after it fell by Rs11,364, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Tuesday, gold price per tola reached Rs455,063 after a gain of Rs2,830 during the day. The international rate of gold declined by $126 to reach $4,200 per ounce (with a premium of $20). Meanwhile, the price of silver also decreased by Rs385 to reach Rs6,929 per tola. [...]

Thai baht/US dollar weaker on Wednesday

June 10, 2026 8:39

BANGKOK: The Thai baht weakened against the US dollar on Wednesday. At 0205 GMT, the baht was 0.24% lower at 32.97 versus the dollar, after trading in a range of 32.910 to 33.010. It ended the previous session at 32.885 per dollar, as per LSEG data. [...]

Palm falls on weaker Dalian; soft ringgit, firm crude cap losses

June 10, 2026 8:37

KUALA LUMPUR: Malaysian palm oil futures slipped for a second consecutive session on Wednesday, weighed by weaker rival Dalian oils, with a softer ringgit and firmer crude oil prices capping the decline. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid 23 ringgit, or 0.51%, to 4,505 ringgit ($1,108.79) a metric ton in early trade. [...]

India bonds set to rise; oil, US inflation data eyed

June 10, 2026 8:34

MUMBAI: Indian government bonds are likely to rise on Wednesday, supported by optimism over measures to attract foreign inflows, with focus also on oil prices after escalations in the Middle East conflict and U.S. inflation data due later in the day. The yield on the benchmark 6.94% 2036 note may trade in the 6.90% to 6.95% range, a private bank trader said. It closed at 6.9163% on Tuesday, easing 10 basis points over the last four sessions. Yields move inversely to bond prices. “Fundamentally things are the same and overall sentiment is supportive, so the positive momentum should persist, though gains may be limited after the recent 10 bps 10 basis points decline,” the trader said. Oil prices rose marginally in Asian hours, with the benchmark crude at around $92 per barrel, after the U.S. military launched new strikes against Iran and as data showed another large draw in U.S. crude stocks. U.S. strikes on Iran followed President Donald Trump’s vow to respond to the downing of a U.S. Apache attack helicopter, escalating tensions and threatening a fragile ceasefire between Washington and Tehran. India imports about 90% of its crude oil, leaving the economy highly vulnerable to swings in oil prices. Locally, bond traders remain hopeful of a further decline in yields after the Reserve Bank of India announced a mechanism for state-run companies to raise external commercial borrowing and for lenders to raise non-resident deposits. These form a part of a larger set of measures to boost foreign participation in government securities and attract large dollar inflows announced on Friday, when the RBI also kept its policy rate unchanged. [...]

Japan's Nikkei slides as Gulf tensions prompt shift out of high-flying tech stocks

June 10, 2026 8:07

TOKYO: Japan’s Nikkei share average retreated on Wednesday as renewed Middle East tensions prompted investors to rotate out of high-flying technology stocks sensitive to energy prices. The benchmark Nikkei 225 Index sank 1.89% to close at 64,179.27, reversing course from a 2.1% surge in the prior session. The broader Topix slid 1.25% to 3,847.60. The United States launched strikes against Iran on Tuesday in retaliation for the downing of a military helicopter, deepening doubts over a potential peace deal. Price pressures from the Gulf crisis caused Japanese wholesale inflation to quicken to the fastest pace in three years, adding upward pressure on domestic bond yields, data showed on Wednesday. “Declines are centred on AI- and semiconductor-related shares, as heightened tensions in the Middle East and upward pressure on domestic interest rates prompted investors to focus more on relative valuations,” said Wataru Akiyama, an equities strategist at Nomura Securities. “As a result, the Topix’s decline is relatively limited compared with the (tech-heavy) Nikkei.” There were 99 advancers on the Nikkei index against 126 decliners. The largest losers were all tech-related stocks, including Taiyo Yuden, down 12.9%, followed by Furukawa Electric , 11.7% lower, and Sumitomo Electric, which lost 11.7%. Nintendo was a standout among decliners, dropping 6.76% after the video game giant’s presentation of upcoming titles disappointed investors. The largest gainers on the Nikkei were developer Mitsubishi Estate, up 5.2%, followed by Tokyo Disneyland operator Oriental Land, 4.3% higher, and Screen Holdings, which gained 4.2%. [...]

Chicago soybean futures gain on higher oil prices

June 10, 2026 8:03

BEIJING: Chicago soybean futures rose on Wednesday, rebounding from a four-month low hit in the previous session, tracking higher crude oil prices. The most-active soybean contract on the Chicago Board of Trade (CBOT) rose 0.3% to $11.16-3/4 a bushel by 0610 GMT, while wheat gained 0.8% to $5.89-3/4 a bushel. Corn dropped 0.3% to $4.20-3/4 a bushel. Soybeans futures sometimes track crude oil prices, which climbed from a seven-week low, as higher energy prices lift demand for biofuel feedstocks. A surprise drop in weekly U.S. crop condition ratingsalso offered support to soybean futures. The U.S. Department of Agriculture on Monday rated 65% of the soy crop as good to excellent, down from 66% last week, while analysts on average had expected an improvement. But a lack of fresh Chinese purchases weighed on the oilseed market, analysts said. “Optimism over U.S.-Mainland China trade prospects faded following the initial uplift from the two countries’ talks last month. There is no evidence China would purchase anything beyond a continuation of the current arrangement of 25.0mn tonnes of soybeans this year, a volume below historical norms,” said a Shanghai-based analyst. China’s soybean imports fell 15.3% in May from a year earlier, but the volume was still the third highest on record for the month, exceeding analysts’ expectations as peak South American supplies and smoother port logistics supported arrivals. Meanwhile, the USDA confirmed private sales of 120,000 metric tons of old-crop U.S. corn to undisclosed destinations. Weather in the heart of the Midwest crop belt remained generally favourable, with warm temperatures and showers crossing the region this week. Traders awaited direction from a monthly USDA supply and demand report to be released on Thursday. USDA condition ratings for corn were unchanged, despite trade expectations for an improvement. Conditions for winter wheat, which has been stressed by drought this year, declined to a new low, though an advancing harvest kept attention on incoming supply. [...]

Australian shares rebound as banks and consumer stocks rally

June 10, 2026 7:53

Australian shares rebounded on Wednesday, snapping a three-session losing streak, as gains in banks and consumer stocks followed softer economic data that reduced expectations of another rate hike. The benchmark S&P/ASX 200 index rose 0.6% to 8,653.30 points after three straight sessions of losses. While inflation remains the Reserve Bank of Australia’s key focus ahead of next week’s meeting, recent data point to a slowing economy, said Luke Winchester, portfolio manager at Merewether Capital. “The market is beginning to price in rate cuts now coming sooner than expected and perhaps no more rises before the next cut,” Winchester said. Rate hike bets pared back after a softer inflation reading for April and slower-than-expected economic growth in the March quarter. The market had long given up on a hike at the RBA’s June 16 meeting, but pricing for August has come back to around 35% from more than 80% a month ago. Financials gained 0.9%, their best day in nearly two weeks. Westpac Banking climbed 2%, while two of the other “Big Four” banks rose more than 0.7%. Consumer staples sub-index jumped 3.9% with Coles and Woolworths advancing 5% and 3.2%, respectively. Consumer discretionary stocks added 3.6%. Wesfarmers, Harvey Norman and JB Hi-Fi gained more than 3.5%. Capping gains, miners dropped 1.4% in their fourth successive session of losses, as copper prices slid. Rio Tinto and Fortescue slid 1% and 0.5%. Adding pressure on the miners, gold stocks dropped 4.5% to its lowest since late March, tracking softer bullion. Insurance broker Steadfast was the top gainer on the benchmark as it surged more than 35% to its best day after receiving a buyout bid of A$7.7 billion ($5.40 billion), including debt. Further south in New Zealand, the benchmark S&P/NZX 50 index fell 0.4% to 13,253.65 points. [...]

South Korean shares fall more than 4% on renewed US-Iran tensions

June 10, 2026 7:49

SEOUL: Round-up of South Korean financial markets: South Korean shares fell more than 4% on Wednesday, as worries mounted over rising hostilities in the Middle East. The benchmark KOSPI closed down 366.11 points, or 4.52%, at 7,730.82. On Tuesday, it rose 8.2%, after falling 8.3% the day before. During the session on Wednesday, the index fell as much as 6.86%, triggering a “sidecar” trading curb. The U.S. on Tuesday launched strikes against Iran after President Donald Trump said Tehran had shot down a U.S. Apache helicopter in the Strait of Hormuz, deepening doubts over a potential peace deal and further straining a fragile ceasefire. South Korea’s finance minister agreed with other top economic policymakers to closely monitor risk around increased volatility in financial markets and its impact on various sectors, the ministry said. Among index heavyweights, chipmaker Samsung Electronics fell 6.06%, while peer SK Hynix lost 7.54%. Battery maker LG Energy Solution slid 2.77%. Hyundai Motor and sister automaker Kia Corp were down 5.79% and down 2.80%, respectively. Steelmaker POSCO Holdings shed 0.41%, while drugmaker Samsung BioLogics rose 0.15%. Of the total 921 traded issues, 343 shares advanced, while 550 declined. Foreigners were net sellers of shares worth 2.8 trillion won ($1.84 billion). The won was quoted at 1,524.2 per dollar on the onshore settlement platform, 0.56% higher than its previous close at 1,532.7. In money and debt markets, June futures on three-year treasury bonds gained 0.12 point to 103.13. The most liquid three-year Korean treasury bond yield fell by 1.9 basis points to 3.886%, while the benchmark 10-year yield fell by 0.4 basis point to 4.268%. [...]

Oil volatile on renewed US-Iran fighting; low stockpiles underpin prices

June 10, 2026 7:45

SINGAPORE: Oil prices edged lower in volatile trade on Wednesday after notching early gains, asrenewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support. Brent futures fell 9 cents, or 0.1%, to $91.36 a barrel at 0641 GMT, while U.S. West Texas Intermediate crude crude eased 10 cents, or 0.1%, to $88.10 a barrel. The benchmark contracts traded higher in the Asian morning on renewed strikes between the U.S. and Iran, and then retreated later in the session. “The current downside is likely due to profit taking though ongoing tensions and inventory indications are providing a floor to prices,” said Emril Jamil, senior analyst for oil at LSEG. The U.S. military struck Iranian targets after President Donald Trump vowed on Tuesday to respond to the downing of a U.S. Apache attack helicopter, a fresh escalation that threatens to unravel a fragile ceasefire between Washington and Tehran. The latest attacks shifted traders’ focus back toward war risks and potential supply disruptions, said Priyanka Sachdeva, senior market analyst at Phillip Nova. “While diplomatic efforts remain ongoing, the latest military exchanges have reintroduced a geopolitical risk premium into oil markets,” Sachdeva said. Oil prices fall to seven-week low Tehran said it would resume hostilities if Israel continued to attack the Hezbollah militia in Lebanon. Israel’s refusal to end its campaign against Iran-backed Hezbollah has hindered Trump’s efforts to extend a tenuous ceasefire in the wider U.S.-Israeli war with Iran into a durable settlement. “With no imminent deal in sight and with the global oil market tightening significantly every day, we see upside to prices, particularly if these disruptions linger into the third quarter, a period of seasonally stronger oil demand,” ING commodity strategists said in a note on Wednesday. At the same time, Tehran has continued to block most shipping through the Strait of Hormuz, which normally carries a fifth of the world’s crude oil and liquefied natural gas. Washington has imposed its own blockade of Iranian ports. U.S. Energy Secretary Chris Wright said on Tuesday that ship traffic in the Gulf and oil exports through the Strait of Hormuz are rising even as Washington and Tehran struggle to reach a deal on ending their more than three-month-old war. Meanwhile, U.S. crude oil inventories fell last week for an eighth consecutive week, according to market sources citing data from the American Petroleum Institute released on Tuesday, while gasoline stocks also declined. Crude stocks fell by 9.12 million barrels in the week ended June 5, the sources said on condition of anonymity, while gasoline inventories fell by 1.19 million barrels. Rival Palestinian factions discuss Gaza disarmament The United States has acted as a marginal supplier of crude and products during the war and ramped up exports to Asia and Europe. Lower U.S. inventories could hurt exports and push up prices. [...]

Truckmaker Volvo says demand stable at good levels in Europe

June 10, 2026 7:36

ESKILSTUNA: Swedish truckmaker Volvo Group said on Wednesday that customer demand and deliveries in Europe were stable at good levels across the business while in North America, demand remains strong with production gradually increasing. [...]

European shares steady as investors cling to Mideast peace hopes

June 10, 2026 7:32

European shares were steady at the open on Wednesday as investors held on to hopes for peace in the Middle East, while focus was also on the European Central Bank’s upcoming monetary policy decision. The pan-European STOXX 600 index edged 0.1% higher to 619.88 points by 0710 GMT, with most sectors marginally higher. Crude oil prices hovered near $90 a barrel after U.S. and Iran traded fresh strikes, clouding the outlook for an imminent end to the conflict. Traders, however, clung to remarks by President Donald Trump that a deal to reopen the Strait of Hormuz, a vital artery for global oil supplies, was close. The European Central Bank’s two-day meeting on monetary policy will start on Wednesday, at the end of which it is widely expected to raise interest rates by 25 basis points to combat rising energy costs. However, the bigger focus will be on policymakers’ remarks on the outlook for monetary policy. A U.S. inflation report is also due later in the day, which could offer clues on the Federal Reserve’s monetary policy path. STMicroelectronics gained 2.9% after brokerage BofA Global Research upgraded the chip stock to ‘buy’ from ‘neutral’, while peer Infineon added 2.6%. UK lenders, which fell in the previous session following a J.P. Morgan note flagging greater impact of new Chinese rules, extended losses on Wednesday. HSBC and Standard Chartered slipped over 1% each. Kongsberg rose 3.2% after the defence group said on Wednesday that it aims to triple its revenue by 2020, driven by growing military investments in Europe. [...]

Honda America recalls more than 880,000 vehicles over rear suspension components failure

June 10, 2026 7:28

Honda Motor America has recalled 880,514 vehicles in the United States over the failure of rear suspension components in the vehicles, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday. The recall includes certain Honda Pilot, Ridgeline, Passport, Acura MDX vehicles, the NHTSA said. The vehicles can experience failure of rear suspension components, such as the rear control arm which could lead to the loss handling and control, increasing the risk of a crash or injury. Honda Atlas flags major hurdles to vehicle exports from Pakistan: AHL As a remedy for the recall, dealers will inspect the rear subframe and install a rear subframe reinforcement kit and, as necessary, repair or replace the rear subframe components, free of charge. [...]

Meta ties up with Ambani's Reliance for AI data center in India

June 10, 2026 7:22

Facebook-parent Meta said on Wednesday that it has tied up with Indian ‌billionaire Mukesh Ambani’s Reliance Industries for the US company’s first AI-enabled data center in India. Reliance will build a data center with 168 MW capacity in Jamnagar in the western ⁠Indian state of Gujarat, which Meta will lease, with options to scale, according to the statement. Meta said India’s massive user base and fast-growing digital economy make it an ideal place to invest. India’s data center market is projected to nearly double to $13.11 billion by 2034, fueled by digital transformation, ‌cloud ⁠adoption and rising AI workloads, according to consulting firm IMARC Group. In August last year, Meta and Reliance formed a joint venture to build AI platforms and ⁠tools for enterprises in India, using Meta’s Llama models. Reliance and Meta had jointly committed an initial investment ⁠of 8.55 billion rupees ($89.67 million), split 70% and 30% respectively. In 2020, Meta invested $5.7 billion in ⁠Jio Platforms, a Reliance entity. [...]

China's domestic car demand under pressure, association exec says

June 10, 2026 7:15

BEIJING: China’s domestic car demand has declined more sharply than expected at the ‌start of the year and will likely remain under heavy pressure throughout 2026, an auto association executive said on Wednesday. “Stabilizing ⁠domestic demand this year should be regarded as a very important task for the automotive industry,” said Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers (CAAM). China’s total vehicle sales dropped 2.1% ‌in ⁠May from a year earlier, while sales at home slid 20.4% year on year, CAAM data showed ⁠on Wednesday. China’s auto industry is unlikely to return to ‘golden era,’ NIO CEO says Vehicle exports jumped 68.7% on year last month to remain as a ⁠key driver of the sector that has increasingly relied on ⁠overseas shipments to offset domestic weakness. [...]

South African rand steady with Iran war, US inflation data in focus

June 10, 2026 7:12

JOHANNESBURG: The South African rand held steady in early trade on Wednesday as markets stayed on edge over the latest US-Iran clashes and awaited crucial ‌U.S. inflation data for clues on the Federal Reserve’s rate path. At 0643 GMT, the rand traded at 16.51 against the U.S. dollar , little changed from its previous close. The dollar held steady against its peers, while the oil prices ⁠climbed after the U.S. military launched new strikes against Iran and as market data showed another large draw in U.S. crude stocks. The U.S. military struck Iranian targets after President Donald Trump vowed on Tuesday to respond to the downing of an Apache attack helicopter, a fresh escalation that threatens to unravel a fragile ceasefire between Washington and Tehran. Iran’s ‌Revolutionary ⁠Guards said they retaliated with attacks against a U.S. base in Jordan and 21 other targets in the Gulf on Wednesday. “The local currency will continue to be driven by headlines and the ⁠U.S. inflation data this afternoon,” Andre Cilliers, currency strategist at TreasuryONE, said. A closely watched U.S. inflation reading later in the day will ⁠be the next major test for markets. Like other risk-sensitive currencies, the rand often takes cues from global ⁠drivers. South Africa’s benchmark 2035 government bond was slightly weaker in early deals, as the yield rose 2.5 basis points to 8.65%. [...]

Equities see volatile start as KSE-100 loses over 450 points amid Middle East tensions

June 10, 2026 9:03

A volatile trading was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 450 points on Wednesday amid escalating tensions in the Middle East. At 2pm, the benchmark index was hovering at 169,865.78, down by 464.78 points or 0.27%. A mixed trading pattern was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. On Tuesday, PSX staged a strong recovery as easing geopolitical tensions between Iran and Israel and a decline in international crude oil prices boosted investor confidence, triggering broad-based buying across key sectors. The benchmark KSE-100 Index gained 1,376.85 points, or 0.81%, to settle at 170,330.56 points. Internationally, Asian stocks fell on Wednesday while oil prices surged as escalating tensions in the Middle East unsettled markets, dimming hopes for an end to the months-long war that has pushed commodities higher and stoked inflation worries. The United States launched strikes against Iran after ‌President Donald Trump said Tehran had shot down a U.S. Apache helicopter in the Strait of Hormuz, leaving investors on edge over a fragile ceasefire between all sides. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.6%. Japan’s Nikkei fell 0.9% while the tech-heavy South Korean KOSPI slumped 2% in a volatile week where AI stocks have come under pressure. Oil prices climbed about 1% in early trade, moving away from a seven-week low touched in the previous session in the wake of the fresh U.S. attacks. Brent futures rose 0.9% to $92.29 a barrel, while U.S. West Texas Intermediate ⁠WTI crude climbed 0.8% to $88.97. This is an intraday update [...]

Gold price drops by Rs12,627 per tola in Pakistan

June 10, 2026 8:40

Thai baht/US dollar weaker on Wednesday

June 10, 2026 8:39

Palm falls on weaker Dalian; soft ringgit, firm crude cap losses

June 10, 2026 8:37

India bonds set to rise; oil, US inflation data eyed

June 10, 2026 8:34

Govt extends austerity measures until June 30, grocery store hours to 10pm

June 10, 2026 8:08

A meeting of the Committee for Monitoring and Implementation of Fuel Conservation and Additional Austerity Measures, chaired by Deputy Prime Minister and Foreign Minister Ishaq Dar, was held in Islamabad on Sunday to review requests for exemptions from the government’s austerity regime and assess the implementation of energy-saving measures. The committee reviewed a number of cases submitted by various ministries and divisions seeking exemptions from specific austerity measures and finalised its recommendations accordingly. To facilitate the public, the committee decided that consular attestation services at the Ministry of Foreign Affairs and its liaison offices in Quetta, Karachi, Peshawar, Gujrat and Lahore would remain operational on Fridays as well. The committee also recommended extending the implementation period of additional austerity measures, which were due to expire on June 13, until June 30. In a move aimed at easing business operations, it was decided that standalone grocery and kiryana stores would be allowed to remain open until 10pm throughout the week, including Saturdays and Sundays. The meeting was attended by the ministers for Petroleum, Climate Change, and IT & Telecom; the special assistant to the prime minister (SAPM) on Finance; the special assistant to the deputy prime minister (SADPM); the secretaries of cabinet, commerce, petroleum, and IT & telecom; as well as senior officials from the Ministry of Foreign Affairs and other relevant ministries and divisions. [...]

Japan's Nikkei slides as Gulf tensions prompt shift out of high-flying tech stocks

June 10, 2026 8:07

Chicago soybean futures gain on higher oil prices

June 10, 2026 8:03

Crucial NEC meeting commences

June 10, 2026 7:57

After several delays, the meeting of the National Economic Council (NEC), chaired by Prime Minister Muhammad Shehbaz Sharif, commenced on Wednesday. The NEC is Pakistan’s highest constitutional forum for economic planning and coordination between the federal and provincial governments. Chief Ministers of all provinces are participating in the meeting. During the meeting, economic targets and the annual development plan will be discussed. Earlier, the meeting of the National Economic Council (NEC), originally scheduled for May 22, was postponed and rescheduled for June 3. However, it was postponed again and rescheduled for June 8, 2026. Earlier, Business Recorder reported that the government is likely to postpone the presentation of the 2026–27 federal budget from June 10 to June 12, with a final decision on the proposed change expected in a day or two. Speaking to the media at Parliament House on Monday, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that several key budget-related matters were yet to be finalised, prompting discussions on revising the budget presentation schedule. Meanwhile, Parliamentary Affairs Minister Tariq Fazal Chaudhry said the government is ‘likely’ to announce the federal budget for the fiscal year 2026-27 in the parliament on June 12 (Friday). In a post on the social media platform X, the minister shared that summaries for convening budget sessions in the National Assembly and the Senate on June 10 had been sent. [...]

Australian shares rebound as banks and consumer stocks rally

June 10, 2026 7:53

South Korean shares fall more than 4% on renewed US-Iran tensions

June 10, 2026 7:49

Oil volatile on renewed US-Iran fighting; low stockpiles underpin prices

June 10, 2026 7:45

Truckmaker Volvo says demand stable at good levels in Europe

June 10, 2026 7:36

Pakistan registers $4.3bn in remittances for May 2026

June 10, 2026 7:33

Remittance inflow since Jan 2024 const ctx = document.getElementById('closingRatesChart').getContext('2d'); const closingRatesChart = new Chart(ctx, { type: 'line', data: { labels: [ "Jan-24", "Feb-24", "Mar-24", "Apr-24", "May-24", "Jun-24", "Jul-24", "Aug-24", "Sep-24", "Oct-24", "Nov-24", "Dec-24", "Jan-25", "Feb-25", "Mar-25", "Apr-25", "May-25", "Jun-25", "Jul-25", "Aug-25", "Sep-25", "Oct-25", "Nov-25", "Dec-25", "Jan-26", "Feb-26", "Mar-26", "Apr-26", "May-26" ], datasets: [{ label: 'Remittance', data: [ 2.4, 2.25, 3.0, 2.8, 3.2, 3.2, 3.0, 2.9, 2.9, 3.1, 2.92, 3.1, 3.0, 3.1, 4.1, 3.2, 3.7, 3.4, 3.2, 3.1, 3.2, 3.4, 3.2, 3.6, 3.5, 3.3, 3.8, 3.54, 4.25 ], borderColor: 'black', borderWidth: 1, fill: false, pointRadius: 3 }] }, options: { responsive: true, plugins: { legend: { display: false } }, scales: { x: { title: { display: true, text: 'Date' } }, y: { title: { display: true, text: 'Remittance' }, suggestedMax: 4.0 // Setting the highest value of the graph to 4.0 } } } }); Figures in USD Billion The inflow of overseas workers’ remittances into Pakistan stood at $4.251 billion in May 2026, the State Bank of Pakistan (SBP) data showed on Wednesday. In terms of growth, remittances increased by 20.2% on a month-on-month basis and 15.4% on a year-on-year basis. Cumulatively, workers’ remittances increased by 9.2% to $38.1 billion during Jul-May FY26, compared to $34.9 billion received during the same period last year. “The strong growth was primarily driven by Eid-related seasonal inflows, as remittances typically increase during festive periods,” said Topline Securities in a note. “We expect remittances in FY26E to clock in slightly above our target of $41 billion,” it added. The 11MFY26 average remittance run-rate has now risen to $3.5 billion per month in FY26, compared to $3.2 billion in the prior year, said Waqas Ghani, Head of Research at JS Global, told Business Recorder, representing a 9% YoY improvement. “This improvement continues to reflect structural factors like higher emigration volumes, sustained shift from hawala to formal banking channels, and relatively stable FX spreads in the interbank market. “Regional geopolitical developments appear to have further accelerated remittance flows,” he added. Remittances play a significant role in supporting the country’s external account, stimulating Pakistan’s economic activity, and supplementing the disposable incomes of remittance-dependent households. Meanwhile, the government promotes remittances through incentives and formal channels to sustain steady growth and ensure their role in economic stability. Breakdown of remittances Overseas Pakistanis in Saudi Arabia remitted the largest amount in May 2026, sending $1,025 million. The amount was up 12% compared to the $914 million sent by the expatriates in the same month last year. Moreover, the amount was up by 22% compared to $842 million in April 2026. Inflows from the United Arab Emirates rose by 33% on a yearly basis, from $754 million in May 2025 to $1,007 million in May 2026. They increased significantly by 37% on a monthly basis. Remittances from the UK amounted to $645 million during May 2026, up by 15% compared to $564 million in April. Overseas Pakistanis in the US sent $350 million in May, a monthly increase of 10% from $317 million during April. Meanwhile, remittances from European Union (EU) countries clocked in at $466 million in May, recording an increase of 8% on a monthly basis from $432 million in April. [...]

European shares steady as investors cling to Mideast peace hopes

June 10, 2026 7:32

Gold price drops by Rs12,627 per tola in Pakistan

June 10, 2026 8:40

Thai baht/US dollar weaker on Wednesday

June 10, 2026 8:39

Palm falls on weaker Dalian; soft ringgit, firm crude cap losses

June 10, 2026 8:37

India bonds set to rise; oil, US inflation data eyed

June 10, 2026 8:34

India's Modi, Trump likely to meet at G7, discuss trade, visas, source says

June 10, 2026 8:29

NEW DELHI: Indian Prime Minister Narendra Modi is likely to hold bilateral talks with US President Donald Trump on the sidelines of the Group of 7 summit, with trade, visas and energy cooperation set to be high on the agenda, an ‌Indian government source said. The June 15 to 17 summit, in the French town of Evian-les-Bains, will bring together leaders from the world’s major economies, including Trump, alongside other high-level delegations from countries including India. Modi is set to start his five-day visit from June 13 and will travel to Slovakia after attending the G7 meeting. “The prime minister is expected to hold talks on the ⁠trade ties, energy cooperation, and also take up the issue of H-1B visas,” the source with direct knowledge of the matter said. A meeting between the two leaders would come at a delicate moment in ties between New Delhi and Washington, which have been strained by U.S. tariffs on Indian goods and Trump’s repeated assertions - which India denies - that he intervened to end India’s brief conflict last year with Pakistan. Recent high-level engagement, including U.S. Secretary of State Marco Rubio’s visit to India last month, has helped ease some of the tension, with the two sides discussing trade, visas, maritime security, energy supplies and ‌the ⁠Middle East. Trade talks between New Delhi and Washington are moving towards the first tranche of a bilateral trade agreement which could be concluded by mid-July, India’s Trade Minister Piyush Goyal said last week. India is pushing for preferential tariff treatment from the United States as part of negotiations on an interim trade deal. Washington has also proposed an ⁠additional 12.5% tariff on imports from India and several other countries, alleging the use of forced labour - which India has rejected. “The talks on the additional tariff have not concluded yet and we are hopeful that we will ⁠get competitive rates,” a second Indian government source said. India’s foreign ministry and the U.S. embassy in India did not respond to requests for comment. The tightening of requirements for H-1B visas is also set ⁠to feature in the likely Modi-Trump discussion, given its implications for thousands of Indians working in the United States, the first source said. The source added that Modi and Trump may also discuss potential energy cooperation involving the United States and Venezuela. [...]

Anti-immigrant violence erupts across Belfast after knife attack

June 10, 2026 8:20

BELFAST: Masked men burned families out of their homes in Belfast and torched a number of vehicles in a wave of anti-immigrant violence on Tuesday night that followed a knife attack by a Sudanese man. Hundreds of protesters, many with their faces covered, attacked police and burned vehicles in a number of ‌locations across Northern Ireland after a video of the knife attack, which left one person with serious neck and head wounds, went viral. A number of homes could be seen burning in the city on Tuesday evening. Video broadcast by the BBC showed police helping a family escape from a burning house. Local politicians and a pastor said many of those who were targeted were Black. “There can be no excuse and no justification for these attacks tonight,” Northern Ireland’s First Minister Michelle O’Neill said. “Groups of masked men burning families out of their homes is nothing less than disgusting cowardice.” Starmer described knife attack as ‘sickening’ British Prime Minister Keir Starmer had described the initial knife attack, which took place in north Belfast late ⁠on Monday evening, as “sickening”. The assault, which is currently not being treated as terrorism, comes at a time of heightened tensions in Britain following the murder of a student who was handcuffed by police as he lay dying from stab wounds after his killer, a Sikh man, falsely alleged a racist attack. It also follows repeated protests about immigration, with populist parties saying Britain’s asylum policy had allowed dangerous men into the country. Tech billionaire Elon Musk reposted many messages denouncing the state of the United Kingdom. In response to a post from the anti-immigrant activist Tommy Robinson about the north Belfast incident in which he called for protests after “yet another invader attack on our people”, Musk said: “Only by protesting REPEATEDLY and LOUDLY will there be any change!!” Northern Ireland’s Justice Minister Naomi Long told Reuters that “bad faith actors” who would have previously struggled to find the province on a map had sought to weaponise the understandable fear and anger sparked by the knife attack to target those who had the same skin colour. “Do not allow your genuine concerns to be manipulated by bad faith actors,” she said. “We know in Northern Ireland the damage that can do when ‌you demonize ⁠a whole group of people because of the behaviour of a few, and we do not want to go back there.” Claire Hanna, the leader of the opposition Social Democratic and Labour Party in Northern Ireland, described the violence as a “race based pogrom”. “The online ecosystem that talked this up will move on now and the people of Belfast will be left picking up the pieces,” she told Reuters. Smaller protests also took place outside parliament in London while other gatherings were reported across Britain. Vehicles burned across the city In Northern Ireland, masked youths gathered early on Tuesday evening at points across Belfast, with police responding by deploying armoured vehicles. ⁠Rioters set fire to a number of cars across the city, while a bus was engulfed in flames in east Belfast. The BBC reported that a crowd of 100 men kicked in doors and broke windows of homes on a street in east Belfast. “They’re getting put out just because they’re Black,” Pastor Jack McKee told the BBC after attacks on homes in the north of the city. The suspect in the stabbing, a ⁠30-year-old Sudanese national, was charged on Tuesday evening with attempted murder, possession of an article with a blade or point in a public place and threats to kill. He is due to appear at Belfast Magistrates’ Court on Wednesday. The victim, a man in his 40s, suffered significant injuries to his eyes and slash wounds to his face and back during the “brutal” attack, with a kitchen ⁠knife found at the scene, Northern Ireland’s Assistant Chief Constable Ryan Henderson said. Footage showed a number of members of the public trying to fight off the attacker before police arrived, and they were credited by senior officers with saving the man’s life. Northern Ireland was also hit by anti-immigrant rioting last year amid anger over an alleged sexual assault. Charges against two boys were later withdrawn by the prosecution service. [...]

Taylor Swift surprises with performance at 'Toy Story 5' premiere in Hollywood

June 10, 2026 8:11

LOS ANGELES: Pop superstar Taylor Swift made a surprise appearance in Hollywood on Tuesday at the premiere of animated movie “Toy Story 5.” Swift sat at a piano in a full-length gown on stage at the Dolby Theatre and sang “I Knew It, I Knew You,” the song she wrote for the new “Toy Story” installment. The singer said she has been a longtime fan of the movie franchise. “It means the world to me to be a small part of these films,” she said. Swift then introduced another unexpected guest - Randy Newman, composer of the musical scores and many of the breakout songs from the “Toy Story” movies. The pair sang a duet of “You’ve Got a Friend in Me,” one of Newman’s hits from the first “Toy Story” in 1995. Earlier, Swift posed on the red carpet with Tom Hanks, Joan Cusack and other members of the “Toy Story” voice cast. “Toy Story 5” will be released by Walt Disney’s Pixar Animation Studios on June 19. [...]

Govt extends austerity measures until June 30, grocery store hours to 10pm

June 10, 2026 8:08

Japan's Nikkei slides as Gulf tensions prompt shift out of high-flying tech stocks

June 10, 2026 8:07

Chicago soybean futures gain on higher oil prices

June 10, 2026 8:03

Crucial NEC meeting commences

June 10, 2026 7:57

Australian shares rebound as banks and consumer stocks rally

June 10, 2026 7:53

South Korean shares fall more than 4% on renewed US-Iran tensions

June 10, 2026 7:49

Truckmaker Volvo says demand stable at good levels in Europe

June 10, 2026 7:36

‘Give peace a little more chance’: Pakistan urges restraint amid US-Iran escalation

June 10, 2026 7:34

Pakistan has expressed concerns over ongoing situation in the Middle East marked by renewed conflict and heightened tensions. The concerns were expressed by Pakistan’s Permanent Representative to the UN Asim Iftikhar Ahmad while speaking at the Security Council Briefing on Non-proliferation. The ambassador said the recent surge in violence in the Middle East is a stark reminder of the dangers associated with a tenuous ceasefire and the unbearable consequences it may lead to. He emphasised that cycle of violence and instability must end for the sake of regional and international peace, security and prosperity. Asim reaffirmed Pakistan’s support for the resolution of all outstanding issues including Iran nuclear issue through peaceful means, diplomatic engagement and sustained dialogue. Pakistan’s sincere efforts are meant to break the momentum of hostilities, save lives and give diplomacy a chance. “Our approach underscores Pakistan’s consistent commitment to regional stability and international peace, reflecting our preference for principled, dialogue-oriented diplomacy in addressing geopolitical challenges and managing complex disputes,” he said. “As we work earnestly and painstakingly, together with our friends and partners, to find a peaceful diplomatic solution to the conflict, and especially when the final objective is just about to be achieved, we sincerely urge all sides to exercise restraint and give peace a little more chance,” he added. The envoy urged the warring parties to continue to tread the path of peace and diplomacy, “for it has bright prospects of success, something that the international community has pinned its hopes on”. He also appreciated both parties for reposing their trust in Pakistan, and engaging in dialogue to achieve a ceasefire and participating in the ‘Islamabad Talks’ – the highest-level direct engagement between the United States and Iran for over four decades. “Through sustained interaction at the leadership level with both Washington and Tehran, as well as with other partners in the region and beyond, notably Saudi Arabia, Egypt and Türkiye, Qatar and China and others, Islamabad has sought to encourage dialogue, facilitate the exchange of messages, and help create space and conditions conducive to meaningful negotiations,” he maintained. [...]

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Buyer swoops in for actress Dakota Johnson’s $6 million midcentury modern gem in L.A.

June 10, 2026 9:03

“Fifty Shades of Grey” actress Dakota Johnson’s “extraordinary” midcentury modern Los Angeles retreat is already under offer—mere days after the on-screen star put the property on the market for $6 million. [...]

The SpaceX IPO could lead to 8% of America’s current-account deficit being refinanced in a single day

June 10, 2026 8:07

A remarkable back-of-the-envelope calculation from a currency strategist shows just how big SpaceX’s initial public offering could reverberate in global markets. [...]

Oracle’s stock has surged on AI hype. Now it has to deliver the earnings to match.

June 10, 2026 2:42

Oracle’s fourth-quarter earnings call will deliver critical updates about the progress of its data-center build-out and the financial impact of its AI pivot. [...]

This proposed federal budget cut could eliminate job training for 42,000 vulnerable seniors

June 10, 2026 1:31

A job-training program for low-income older adults is set to lose funding under President Donald Trump’s proposed budget for 2027 — just as more stringent work requirements for food aid and healthcare coverage go into effect. [...]

Super Micro stock plunges as $7 billion equity raise overshadows booming backlog

June 10, 2026 12:12

Super Micro looks to raise equity as it faces staggering AI demand but also an intense cash burn [...]

This stock-market strategy has cheap exposure to AI and points to an advantage for closed-end funds

June 9, 2026 11:17

The fund is diversified and has been an excellent performer, highlighting the advantages of a closed-end structure. [...]

Apple’s AI could usher in a historic upgrade cycle that investors are overlooking

June 9, 2026 10:00

Apple’s new AI features are on track to be monetized faster than expected, thanks to increased hardware requirements and new “killer apps.” [...]

Micron and other memory makers are driving a ‘supercycle’ for this corner of the chip sector

June 9, 2026 9:58

Chip-equipment companies are getting unprecedented visibility into companies’ supply plans, a UBS analyst says. [...]

AST SpaceMobile’s stock experiences rocky trading as SpaceX plans to launch its satellites into orbit

June 9, 2026 9:55

The company is developing a space-based broadband cellular network that could rival Elon Musk’s Starlink. [...]

GM follows Ford by making a big energy bet — this time with an unconventional approach

June 9, 2026 9:20

GM plans to revamp its energy business and place a big bet on sodium-ion batteries just as shares of rival Ford got a boost from a similar move a few weeks ago. [...]

Social Security faces insolvency in 2032, when it would pay only 78% of benefits

June 10, 2026 12:57

This investing strategy has beaten the market with exposure to cheap AI stocks

June 9, 2026 11:14

Super Micro stock plunges as $7 billion equity raise overshadows booming backlog

June 9, 2026 10:20

Sales of million-dollar homes suggest inflation is spurring the wealthy to buy

June 9, 2026 10:01

Tech stocks dive as Friday’s incoming SpaceX IPO creates ‘bad psychology’

June 9, 2026 8:43

Dow ekes out gain, Nasdaq closes sharply lower as tech stocks sell off

June 9, 2026 8:03