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Business📍 INTERNATIONAL

UN Chief Warns Hormuz Closure Is Strangling Global Economy

United Nations Secretary-General António Guterres has issued a stark warning that the closure of the Strait of Hormuz is inflicting severe damage on the global economy, describing the situation as effectively strangling international trade and energy flows. The statement marks one of the strongest interventions by the UN chief on the crisis and underscores the mounting alarm within multilateral institutions over the waterway's prolonged blockage.

Business📍 PAKISTAN

Pakistan Hikes Petrol by Rs6.51, Diesel by Rs19.39 Per Litre

The federal government has announced a significant increase in petroleum prices, raising petrol by Rs6.51 and high-speed diesel by Rs19.39 per litre, effective from the start of May. The revision, announced late Thursday night, marks one of the steeper diesel adjustments in recent fortnightly cycles and is expected to add measurable pressure on transport costs, industrial logistics, and agricultural inputs across the country.

Business📍 PAKISTAN

Arif Habib Consortium Eyes Full PIA Ownership With 25pc Stake Bid

The Arif Habib-led consortium has formally notified the Privatisation Commission of its intent to acquire the remaining 25 per cent stake in Pakistan International Airlines, signalling a move toward complete private ownership of the national carrier. The notification marks a significant procedural step in the ongoing PIA privatisation process, which has been a centrepiece of the government's broader divestment agenda under its economic reform programme.

Business📍 GULF REGION

Gulf Markets Slip on Reports of Potential US Military Action Against Iran

Gulf stock markets declined sharply on Thursday following reports that the United States is considering direct military action against Iran, triggering risk-off sentiment across equity bourses from Riyadh to Dubai and Abu Dhabi. The selloff reflects investor anxiety over the potential for a significant escalation in the Iran-US confrontation, which has already disrupted regional trade routes and pushed energy prices higher.

Business📍 PAKISTAN

Supreme Court Upholds Super Tax as Constitutional, Overturns High Court Rulings

The Supreme Court of Pakistan has ruled that the super tax levied on large-scale businesses and high earners is constitutionally valid, setting aside earlier judgments from multiple high courts that had questioned the legal basis of the levy. The landmark ruling resolves a prolonged judicial dispute that had created significant uncertainty for major corporate taxpayers and the federal government's revenue framework.

Business📍 KARACHI / PAKISTAN

KSE-100 Plunges 4,300 Points as Selling Pressure Intensifies

Pakistan's benchmark KSE-100 index crashed by nearly 4,300 points on Thursday morning, with sustained selling across sectors eroding investor confidence as a combination of global risk-off sentiment, surging oil prices, and domestic uncertainty triggered one of the sharpest intraday declines in recent months. The selloff was broad-based, with blue-chip stocks, banking sector names, and energy-linked equities all registering significant losses.

Business📍 PAKISTAN

Emirati Telecom Giant Reportedly Weighing Exit From Pakistan

A major Emirati telecommunications company is reportedly considering withdrawing its operations from Pakistan, a development that would represent one of the most significant foreign investor exits from the country's telecoms sector in years. The company, which has maintained a substantial commercial presence in Pakistan, is said to be evaluating a full or partial exit amid concerns over regulatory conditions, taxation burdens, and the broader investment climate.

Business📍 WASHINGTON D.C., UNITED STATES

US Federal Reserve Holds Rates Steady Amid Inflation Concerns and Internal Dissent

The United States Federal Reserve held its benchmark interest rates steady at its latest policy meeting, citing persistently elevated inflation as the primary basis for maintaining its current stance. The decision, while widely anticipated, was accompanied by notable internal dissent, with three Federal Open Market Committee members voting against what they characterised as an implicit easing bias in the committee's forward guidance.

Business📍 ABU DHABI / GLOBAL

UAE Withdraws from OPEC, Raising Global Oil Market Questions

The United Arab Emirates has formally withdrawn from the Organisation of the Petroleum Exporting Countries, a seismic shift in the cartel's composition that analysts say could redraw the dynamics of global oil supply and pricing. The UAE, one of OPEC's largest producers, had long chafed under production quota constraints that limited its ability to monetise its expanded oil infrastructure.

Business📍 PAKISTAN

Pakistan Power Regulator Declares Loadshedding Officially Illegal

Pakistan's power sector regulator has formally declared loadshedding illegal, a landmark ruling that places distribution companies under direct legal obligation to supply uninterrupted electricity to consumers and opens the door to regulatory and financial penalties for non-compliance. The declaration represents one of the most consequential regulatory interventions in Pakistan's chronically troubled power sector in recent years.

Business📍 PAKISTAN

Arif Habib consortium completes full acquisition of PIA

The Arif Habib consortium has acquired the remaining 25 percent stake in Pakistan International Airlines, completing the full privatisation of the national flag carrier in a landmark transaction that marks the culmination of one of Pakistan's most consequential and prolonged state divestment processes. The completion of the acquisition transfers full ownership of PIA to the private sector, ending the government's direct shareholding in an airline that has been at the centre of decades of losses, operational inefficiency, and contentious restructuring debates.

Business📍 GLOBAL / UAE

UAE quits OPEC in major blow to global oil producers' bloc

The United Arab Emirates has formally withdrawn from the Organisation of the Petroleum Exporting Countries, dealing a significant blow to the cohesion of the global oil producers' group at a time of already intensifying internal disagreements over production quotas and market strategy. The UAE's departure removes one of OPEC's most consequential members, a country that has in recent years dramatically expanded its production capacity and increasingly chafed against collective output limits that constrained its ability to fully monetise its oil assets.

Business📍 STRAIT OF HORMUZ / GULF REGION

Hormuz Shipping Slowdown Tightens Economic Pressure on Gulf States

Reduced maritime traffic through the Strait of Hormuz is placing measurable strain on Gulf economies, as the ongoing Iran conflict standoff continues to deter commercial shipping and disrupt energy export logistics across one of the world's most strategically critical waterways. The Strait of Hormuz, through which approximately a fifth of global oil supply transits daily, has seen a notable decline in vessel movement as insurers, shipping companies, and energy traders respond to elevated risk perceptions.

Business📍 JAPAN

BOJ Holds Rates as Three Board Members Dissent and Call for Hike

The Bank of Japan held its benchmark interest rate steady on Tuesday but faced an unusually strong internal challenge, with three of its board members dissenting from the decision and formally calling for an immediate rate increase, signalling that the era of ultra-loose Japanese monetary policy may be approaching a significant inflection point. The three-member dissent is notable for its scale within the BOJ's typically consensus-driven board structure, suggesting that internal pressure for normalisation has intensified materially.

Business📍 PAKISTAN

IMF Executive Board to Review Pakistan Programme on May 8

The International Monetary Fund's Executive Board is scheduled to take up Pakistan's case on May 8, a confirmation that carries significant implications for the country's ongoing economic stabilisation programme and the continued disbursement of financial tranches under its arrangement with the Fund. The Executive Board meeting is a critical step in the IMF's review process, following staff-level engagements and technical assessments of Pakistan's compliance with programme targets.

Business📍 GLOBAL / MIDDLE EAST

Trump Rejects Iran Proposal as Oil Prices Climb on Stalled Talks

US President Donald Trump has expressed strong dissatisfaction with Iran's latest diplomatic proposal to end the ongoing conflict, a US official confirmed on Tuesday, further dimming hopes for a near-term resolution and sending oil prices higher on international markets. The rejection signals that negotiations between Washington and Tehran remain far from a breakthrough, with the two sides apparently still divided on fundamental issues.

Business📍 WASHINGTON / ISLAMABAD

IMF Board to Meet May 8 to Approve $1.2bn Pakistan Disbursement

The International Monetary Fund's executive board is scheduled to convene on May 8 to formally approve a disbursement of over $1.2 billion to Pakistan, a development that would mark a significant milestone in the country's ongoing stabilisation programme. The meeting, if it proceeds as planned, would unlock a critical tranche under Pakistan's Extended Fund Facility arrangement with the Fund.

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