SBP Unveils FY27 MPC Calendar, Boosts Transparency
SBP releases FY27 MPC meeting calendar, increases post-MPC press conferences to four times a year, publishes staff presentations, and streamlines minutes publication for greater transparency.
Category : Banking Sector
NA Passes Rs18.77 Trillion Finance Bill 2026-27
The National Assembly passed the finance bill 2026-27 with a total outlay of Rs18.77 trillion, rejecting all opposition amendments. The budget includes a 7% pay hike, tax relief, and Rs838 billion for BISP.
Karachi Cash Van Heist Solved: Rs 200 Million Recovered
Karachi police solved a Rs 300 million cash van robbery within days, arresting the principal accused Muhammad Ali and recovering Rs 200 million, the van, and a car used in the crime.
Pakistani Economy Faces Rising Threats Amid Global and Domestic Risks
Pakistan's economy confronts multiple threats including stagnant growth, high inflation, de-industrialisation, and external risks from geopolitical conflicts and monetary tightening, requiring urgent reforms.
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Chiniot Naib Tehsildar Accused of Illegal Detention
A Naib Tehsildar in Chiniot allegedly trespassed into a farmer's home, detained his underage son, and released him only after Rs70,000 was paid. Complaints have been filed seeking an independent inquiry.
Trump touts Iran deal as payday for US farmers
President Trump and VP Vance say the Iran interim deal will let US farmers sell crops to Iran using frozen assets, but Iran denies any such agreement.
SC: Dowry, bridal gifts are woman's exclusive property
The Supreme Court ruled that property given to a woman at marriage, including dowry and bridal gifts, vests absolutely in her, and neither husband nor in-laws can claim ownership.
CCP Approves UAE Firm's Acquisition of BASF Pakistan
The Competition Commission of Pakistan has approved Kemyion Chemical Solutions' acquisition of 100% shareholding of BASF Pakistan, finding no adverse impact on competition.
PSX Ends Lower as Profit-Taking Overshadows Early Gains
The KSE-100 index fell 778 points to 177,692.92, down 0.44%, as investors booked profits and awaited fresh triggers. Trading volume dropped to 765.1 million shares.
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UK Tribunal Approves £3B Apple iCloud Lawsuit
Britain's competition tribunal has approved a £3 billion lawsuit against Apple over iCloud, allowing Which? to represent nearly 40 million UK users in a collective action alleging anti-competitive practices.
Govt Approves Rs5bn to Lay Off 2,545 Karachi Dock Workers
The government approved a Rs5 billion grant to lay off 2,545 Karachi Dock Labour Board workers after AD Ports refused their services, with total cost estimated at Rs24 billion. The decision faces union opposition.
RDA's Parking Plaza Default Reaches Rs42 Million
Rawalpindi's only parking plaza at Fawara Chowk has defaulted on rent, with outstanding dues of Rs42 million. The contractor secured a court stay order, while RDA faces financial and administrative challenges.
Police rescue kidnapped youth, arrest three in Shakargarh
Police rescued a 22-year-old kidnapped youth and arrested three suspects after an armed encounter in Shakargarh; two others escaped. The kidnappers had demanded Rs3 million ransom.
Iran may buy US food with frozen funds, says bank chief
Iran's central bank governor says Tehran may use frozen funds to buy US farm products, but denies any obligation to spend exclusively on American exports.
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Karachi Police Arrest Cash Van Robbery Mastermind
Karachi police arrested the mastermind of a Rs300 million cash van robbery and recovered Rs200 million. The suspect, Muhammad Ali, led an inter-provincial gang involved in multiple bank heists across Pakistan.
KP CM discretionary fund cut to Rs400m in budget
Khyber-Pakhtunkhwa CM Sohail Afridi's discretionary fund reduced from Rs500 million to Rs400 million in 2026-27 budget, says Finance Adviser Muzammil Aslam after JUI member flags previous hike.
Nord Stream 2 Owner Sues EU Over Russian Gas Ban
Nord Stream 2 AG, owned by Gazprom, sues EU to annul Russian gas phase-out by 2027, arguing the ban effectively expropriates the pipeline without compensation.
Meta Taps Kunal Shah to Lead WhatsApp Monetization
Meta appoints CRED founder Kunal Shah as WhatsApp head, leading a $900M funding round in CRED to drive monetization of the messaging app's massive user base.
Select Technologies IPO Oversubscribed 3.2 Times
Select Technologies' IPO was oversubscribed 3.2 times at Rs34 per share, reflecting strong investor confidence in Pakistan's consumer electronics sector.
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Saudi Tadawul Closes Red at 11,033; Fisheries Stock Surges 9.93%
Saudi Arabia's Tadawul All Share Index fell 38.41 points to close at 11,033.99 on Tuesday, with Saudi Fisheries Co. surging 9.93%.
Jeddah Transport Co. and Full Cycle Sign MoU on Event Mobility
Jeddah Transport Co. and Full Cycle signed an MoU to improve parking, transport, and crowd management for events in Jeddah, aiming for safe and efficient mobility.
Gold Prices in Pakistan Drop by Rs 10,400 per Tola
Gold prices in Pakistan fell sharply on Tuesday, with 24k gold per tola dropping Rs 10,400 to Rs 432,236, according to the All Pakistan Sarafa Gems and Jewellers Association.
Saudi AUM to Exceed $400 Billion by 2027: Fitch
Saudi Arabia's asset management AUM surpassed $340 billion in Q1 2026, projected to exceed $400 billion by 2027, driven by regulatory easing and investor participation, says Fitch Ratings.
Egypt Approves 2026/27 Budget, Economic Plan
Egypt's House of Representatives approved the 2026/27 budget targeting revenues of 4.1 trillion pounds ($82 billion) and expenditures of 5.2 trillion pounds, as part of a broader economic reform program.
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Israel Smuggled Starlink into Iran: Ex-PM Bennett
Former Israeli PM Naftali Bennett admitted Israel smuggled Starlink receivers into Iran to aid protesters, but said Netanyahu's government halted the plan.
Etihad Rail Passenger Services Start June 30
Etihad Rail will launch passenger services on June 30 between Abu Dhabi and Fujairah, with fares starting at Dh55. The network will expand to Dubai, Sharjah, and other emirates by 2030.
Pakistan approves 14th IPO of fiscal year 2025-26
Pakistan's SECP approved LSE SPAC-II's IPO, the 14th of FY2025-26, offering 20 million shares at Rs10 each to deepen capital markets and attract investors.
ABHI Microfinance Bank Q1 Profit Surges 87% to PKR 4.874B
ABHI Microfinance Bank reported Q1 2026 revenue of PKR 4.874 billion, up 87% from PKR 2.600 billion last year, with equity turning positive at PKR 2.262 billion and deposits at PKR 69.216 billion.
Strait of Hormuz Traffic Up, Future Control Unsettled
Ship traffic in the Strait of Hormuz has increased after an interim Iran-US deal, but control and toll disputes threaten lasting peace; experts say tolls violate maritime law.
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Man Utd Secure Land for 100,000-Seat Stadium
Manchester United have secured a 25-acre site for a new 100,000-seater stadium near Old Trafford, the largest in Britain, preserving heritage while addressing infrastructure issues.
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