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610 stories · Page 12 of 21

Business📍 ISLAMABAD, PAKISTAN

Chief Justice Warns Banking Litigation Is Damaging Financial Discipline and Credit Flow

Pakistan's Chief Justice has issued a pointed warning that excessive banking litigation is undermining financial discipline and obstructing the flow of credit in the economy, remarks that carry institutional weight given their source and highlight a structural dysfunction at the intersection of the legal and financial systems. The Chief Justice's comments appear directed at the practice of loan defaulters using prolonged court proceedings to delay recovery actions by financial institutions, a phenomenon that has contributed to ballooning non-performing loan portfolios and deterred banks from extending credit to productive sectors.

Business📍 GLOBAL ENERGY MARKETS

Global Oil Prices Rise Further as US-Iran War Yields No Ceasefire

Global oil prices continued to climb on Friday as the absence of any ceasefire framework in the US-Iran war maintained a sustained risk premium across energy markets, with traders pricing in the possibility of prolonged disruption to Middle Eastern supply routes. Brent crude and West Texas Intermediate benchmarks extended their recent gains as market participants assessed both the strategic and operational risks posed by continued hostilities near the Strait of Hormuz, through which approximately a fifth of the world's oil supplies transit daily.

Business📍 ISLAMABAD / SEOUL

Pakistan and South Korea Agree to Fast-Track CEPA Negotiations

Pakistan and South Korea have agreed to accelerate negotiations on a Comprehensive Economic Partnership Agreement (CEPA) and broaden the scope of bilateral trade and investment cooperation, in a development that signals growing commercial engagement between the two nations. The CEPA framework, if concluded, would provide structured preferential trade access and investment protections for both countries, potentially opening significant new markets for Pakistani exports including textiles, agricultural products, and light manufacturing goods, while expanding Korean industrial and technology investment into Pakistan.

Business📍 TOKYO / GLOBAL MARKETS

Japan Intervenes in Forex Market as Yen Stabilises

The Japanese yen steadied on Friday following what traders and analysts identified as direct intervention by Japanese monetary authorities in foreign exchange markets, as the currency faced sustained depreciation pressure driven by a wide interest rate differential between Japan and the United States. Japan has a documented history of intervening in forex markets when the yen weakens to levels considered damaging to the domestic economy, particularly for import-dependent sectors.

Business📍 GLOBAL

Fitch: UAE's OPEC Exit Carries No Immediate Market Consequences

Credit rating agency Fitch has assessed that the UAE's exit from the Organisation of the Petroleum Exporting Countries will have no near-term impact on global oil markets, offering a measure of reassurance to traders and policymakers monitoring the implications of the bloc's shifting composition. The analysis points to UAE production levels and market dynamics that limit immediate supply disruption.

Business📍 EUROPEAN UNION

ECB Holds Rates, Flags Middle East War as Economic Risk

The European Central Bank held its key interest rates unchanged on Thursday while explicitly warning that the ongoing conflict in the Middle East poses material risks to the eurozone's economic outlook, marking one of the clearest acknowledgements by a major central bank of geopolitical risk as a monetary policy variable. ECB policymakers cited potential disruptions to energy supply chains, shipping routes, and commodity price stability as the primary transmission channels through which Middle East hostilities could affect European inflation and growth.

Business📍 UNITED KINGDOM

Bank of England Holds Rate Steady, Leaves Door Open for Hikes

The Bank of England held its benchmark interest rate steady on Thursday but signalled that further hikes remain a live possibility depending on the trajectory of inflation and economic conditions, according to the central bank's latest policy communication. The decision to maintain rates was largely in line with market expectations, but the accompanying guidance introduced a more hawkish tone than some analysts had anticipated.

Business📍 INDIA

India Central Bank FX Forward Book Tops $100 Billion as Rupee Hammered

India's central bank has dramatically expanded its foreign exchange forward book to more than $100 billion as it attempts to defend the Indian rupee against sustained pressure driven by the ongoing Iran war and its cascading effects on regional trade and energy costs. The Reserve Bank of India's ballooning forward position reflects the scale of intervention required to stabilise the currency as energy import bills surge and investor risk appetite for emerging market assets deteriorates sharply.

Business📍 PAKISTAN

SBP Foreign Reserves Rise $730 Million to $15.8 Billion

Pakistan's State Bank of Pakistan reported a significant rise in its foreign exchange reserves on Thursday, with holdings increasing by $730 million to reach $15.8 billion in the latest weekly data release. The increase represents one of the more substantial single-week gains in recent months and provides a measure of relief to economic managers navigating a challenging external account environment compounded by regional geopolitical pressures.

Business📍 UAE / GLOBAL

Amazon UAE Cloud Region Recovery to Take Several Months After Damage

Amazon Web Services has confirmed that its damaged cloud infrastructure region in the United Arab Emirates will require several months to fully recover, signalling a prolonged disruption to digital services across the Middle East and beyond. The company disclosed the extended recovery timeline on Thursday without specifying the precise nature or cause of the damage, though the announcement comes amid the broader regional instability tied to the ongoing Iran-US confrontation.

Business📍 PAKISTAN

Finance ministry warns of rising risks to Pakistan's external sector

Pakistan's Finance Ministry has formally flagged elevated risks to the country's external sector, citing mounting global uncertainty as a key threat to the stability of the current account and foreign exchange position. The warning, contained in an official assessment, signals growing concern within the government over external vulnerabilities at a time when global trade and financial conditions remain volatile.

Business📍 UNITED STATES

Meta Shares Slide Nearly 10pc As Google Surges After Earnings

Shares in Meta Platforms fell by nearly 10 per cent in after-hours trading following the release of its latest quarterly earnings, even as rival Alphabet saw its Google stock surge sharply on the back of stronger-than-expected financial results. The divergence between two of the world's largest technology companies highlighted starkly different investor assessments of their respective growth trajectories.

Business📍 UAE / OPEC

UAE's Reported OPEC Exit Signals Major Shift In Global Oil Architecture

A Dawn analysis examines the strategic and market implications of the United Arab Emirates' reported intention to exit the Organisation of the Petroleum Exporting Countries, a move that would constitute one of the most consequential restructurings of the global oil cartel in decades. The UAE has long chafed under OPEC's production quota framework, with Abu Dhabi's national oil company ADNOC having invested heavily in expanding its production capacity.

Business📍 WASHINGTON D.C., UNITED STATES

US Senate Panel Advances Trump's Nominee for Federal Reserve Chair

A United States Senate committee has voted to advance President Donald Trump's nominee for Federal Reserve Chair to a full Senate confirmation vote, clearing a significant procedural hurdle in the administration's bid to install its preferred leadership at the world's most influential central bank. The nomination has drawn scrutiny from economists and market participants concerned about potential political interference in monetary policy, a cornerstone of the Fed's institutional credibility since its founding.

Business📍 PAKISTAN

European Companies Signal Strong Interest in Expanding Pakistan Operations

Multiple European companies have expressed a strong desire to expand their commercial footprint in Pakistan, according to reports emerging from the EU-Pakistan Business Forum launched in Islamabad on Tuesday, with Prime Minister Shehbaz Sharif assuring efforts to facilitate deeper trade and investment ties with the European Union. The forum, inaugurated in the capital, brought together European and Pakistani business representatives to explore bilateral commercial opportunities across sectors including manufacturing, technology, and energy.

Business📍 KHYBER PAKHTUNKHWA

Centre Owes KP Rs532 Billion for Merged Districts Development Fund

The federal government owes Khyber Pakhtunkhwa a total of Rs532 billion under the head of merged district development allocations, according to figures that have come to light, deepening longstanding fiscal grievances between Islamabad and the province. The outstanding amount relates to funds due under the constitutional mandate following the merger of the erstwhile FATA areas into KP.

Business📍 KARACHI

KSE-100 Rebounds Over 900 Points in Early Wednesday Trade

Pakistan's benchmark KSE-100 index surged over 900 points in early trading on Wednesday, as buying activity returned to the bourse following a period of market caution, with investors showing renewed appetite across multiple sectors. The uptick reflects a partial reversal of recent selling pressure and suggests a degree of restored confidence among market participants, potentially linked to positive macroeconomic signals or easing of external uncertainty.

Business📍 PAKISTAN

Finance Minister Projects Four Percent GDP Growth for FY26

Finance Minister Muhammad Aurangzeb on Tuesday projected Pakistan's economy will grow by four percent in the current fiscal year 2025-26, signalling cautious optimism about the country's macroeconomic trajectory amid ongoing structural reforms. The projection represents a modest but meaningful uptick from recent years of subdued growth, and comes as the government pursues fiscal consolidation under its IMF programme alongside efforts to stimulate private sector activity.

Business📍 CHINA / GLOBAL

BYD Reports Sharp 55 Percent Drop in First-Quarter Net Profit

Chinese electric vehicle giant BYD has reported a 55 percent decline in net profit for the first quarter, a steeper-than-expected contraction that has raised questions about the sustainability of aggressive pricing strategies and the impact of intensifying competition in China's EV market. The profit drop comes despite BYD maintaining strong vehicle sales volumes, suggesting that margin compression from price wars with domestic rivals and the cost of expanding globally is weighing heavily on the company's bottom line.

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