17 stories · ranked by importance and freshness
GOLD JUMPS RS2,200 PER TOLA
AI summaryDomestic gold prices extended their upward trajectory on Saturday, pushed higher by rising international bullion valuations. Meanwhile, local silver prices bucked the trend and experienced a moderate retreat.
PAKISTAN NEW ZEALAND TRADE
AI summaryPakistan and New Zealand have agreed to deepen their economic footprint through enhanced partnerships in sustainable agriculture, education, and technology. Following high-level meetings in Wellington, both nations formalized a new academic framework while targeting broader commercial access.
TANKER HIT IN HORMUZ
AI summaryEmirati authorities reported that a state-owned oil tanker was hit by an Iranian missile in the Strait of Hormuz, marking the latest aggression in a vital maritime trade corridor. Meanwhile, Iranian officials stated that discussions with Oman regarding maritime control are entering their final stages, though an immediate reopening remains unlikely.
GOLD PRICES SOAR AGAIN
AI summaryDomestic bullion markets in Pakistan recorded further gains on Saturday as rising international valuation pushed local gold rates higher. While gold continued its upward momentum following significant increases earlier in the week, silver prices experienced a slight downturn.
PAKISTAN BUYS 1M TONS SOY
AI summaryPakistan has solidified its position as a major market for American agriculture, purchasing more than one million metric tons of US soybeans each year. Pakistani Ambassador Rizwan Saeed Sheikh highlighted the deepening economic partnership during discussions with US trade leadership in Chicago.
UK FESTIVALS BOUNCE BACK
AI summaryAfter enduring severe setbacks from the pandemic and inflation, the UK music festival industry is witnessing a significant rebound driven by innovative ticket financing and upgraded guest offerings. Major gatherings across the country are selling out at unprecedented speeds as organizers adapt to shifting consumer demands.
COTTON SECTOR IN CRISIS
AI summaryPakistan's cotton sector is suffering from administrative neglect and a lack of transparency that has crippled core institutions. The Pakistan Central Cotton Committee is currently operating with only 26 percent of its staff, alongside mounting financial pressure from over Rs2 billion in uncollected industry dues.
RS 10B EXPORT BOOST
AI summaryThe Ministry of Commerce has approved a Rs10 billion disbursement to assist Pakistan's export industries, including textiles and apparel. Announced by Commerce Minister Jam Kamal Khan, the funds target duty drawbacks and technological upgrades to resolve cash flow bottlenecks.
JURA COMMENCES NEW GAS FLOW
AI summaryCanadian exploration firm Jura Energy has successfully commissioned its Maru-3 development well located across the Punjab and Sindh regional border in Pakistan. Following initial testing, the site has been hooked up to processing facilities and is yielding approximately 0.7 million cubic feet of natural gas per day.
DRUG TARIFF ROW SPARKS ALARM
AI summaryPakistan's healthcare import sector has raised serious concerns over recent attempts by customs authorities to reclassify long-approved medicines into higher-duty tariff brackets. Industry representatives argue that modifying established tariff codes purely for revenue generation jeopardizes affordable healthcare access nationwide.
OIL RISES ON HORMUZ PACT
AI summaryGlobal crude prices rebounded on Friday as market participants evaluated a prospective maritime transit agreement between Iran and Oman. Despite the late-week rally spurred by shipping concerns in the Strait of Hormuz, major energy benchmarks were still positioned for a weekly decline exceeding nine percent.
PIA ANNOUNCES EMPLOYEE BONUS
AI summaryUnder its newly established private management, Pakistan International Airlines has sanctioned a one-month basic salary bonus for its workforce. Approved during the board's 102nd meeting, the payout aims to boost staff morale and support the airline's upcoming operational overhaul.
FUEL PRICES DROP AGAIN
AI summaryPakistani authorities have reduced retail fuel costs, trimming petrol by Rs2.20 and diesel by Rs1.50 per litre. The modest price adjustments follow significant market fluctuations seen earlier this year during regional energy crises.
AUGUST POWER TARIFF INCREASED
AI summaryPakistani power consumers will see an additional charge of 75 paisa per unit in their August electricity bills following a fuel cost adjustment approved by NEPRA. The regulatory decision adds an estimated collective financial impact of 9.8 billion rupees across distribution companies and K-Electric.
FESCO PRIVATISATION BID
AI summaryPakistan's Privatisation Commission has gathered 12 expressions of interest from domestic and foreign investors targeting the divestment of Faisalabad Electric Supply Company. Bidders from Turkiye, China, and major Pakistani industrial groups are competing for up to a 100 percent equity stake with management rights.
SERVICES EXPORTS HIT $10B
AI summaryPakistan achieved $10.04 billion in service exports during FY26, representing an 18.8 percent increase largely powered by the technology sector. While service imports also rose to $11.9 billion due to higher travel and transport spending, tech services provided essential support to the national balance of payments.
K-IV WATER COST SOARS
AI summaryPakistan's Central Development Working Party has approved a revised Rs172 billion budget for Karachi's long-delayed K-IV water supply scheme. Despite an enormous cost surge over time, the project's capacity in this phase has been reduced to 260 million gallons per day.