Billionaire entrepreneur Elon Musk has announced plans to give one of his SpaceX shares to every child in the United States next year, potentially extending the offer to more than 72 million children. “Next year, I will give one of my SpaceX shares to every kid in America,” Musk wrote on his social media platform...
The Pakistan Stock Exchange (PSX) saw strong buying activity on Monday, with the benchmark KSE-100 Index gaining more than 500 points as investors built positions across major sectors. The index climbed during the trading session as market sentiment improved and investors increased exposure to key sectors, including banking, fertiliser, cement, and exploration and production companies....
The Federal Board of Revenue (FBR) has introduced a new sales tax collection mechanism for Pakistan’s steel industry, linking tax liability directly to electricity consumption in an effort to improve compliance and strengthen documentation across the sector. The new framework will apply to steel melters, re-rollers and composite units, including those generating their own electricity...
Pakistan’s proposed Auto Policy 2026–31, designed to accelerate the adoption of electric vehicles (EVs), has reportedly been shelved after local car manufacturers raised objections, forcing the government to restart the policy-making process. The Ministry of Industries and Production had prepared a new auto policy after consulting stakeholders, with a strong focus on promoting electric mobility...
Global oil prices fell by more than 1% on Friday as improved crude shipments through key maritime routes eased supply concerns, even as the conflict between the United States and Iran continued to fuel geopolitical uncertainty. Brent crude futures declined by $1.03, or 1.2%, to $88 per barrel, while US West Texas Intermediate (WTI) crude...
The Economic Coordination Committee (ECC) has approved a Rs 98 billion subsidy package to reduce borrowing costs for exporters and stimulate Pakistan’s export sector after overseas shipments declined by 6% in the last fiscal year. Chaired by Finance Minister Muhammad Aurangzeb, the ECC endorsed three major export support initiatives, including an enhanced Export Finance Scheme...
Pakistan’s inflation is expected to accelerate to 9.1% year-on-year in July, as higher food prices and renewed uncertainty over global energy markets add fresh pressure to the cost of living, according to market estimates by Growth Securities and JS Global. Economists expect the Consumer Price Index (CPI) to record a 1.1% month-on-month increase, largely driven...
The Pakistan Stock Exchange (PSX) extended its recent downturn on Friday, with the benchmark KSE-100 Index falling 1,264.14 points, or 0.74%, during the morning trading session as investor sentiment remained subdued. The index slipped to 170,475.30 points before trading was temporarily suspended for the routine Friday (Jummah) prayer break. After opening on a weaker note,...
The Securities and Exchange Commission of Pakistan (SECP) has approved the prospectus for the initial public offering (IPO) of Tasdeeq Information Services Limited, clearing the way for the first Pakistan Stock Exchange (PSX) listing of the 2026-27 fiscal year. Tasdeeq, a credit bureau licensed by the State Bank of Pakistan, collects and maintains credit information...
Global oil prices climbed to their highest levels in nearly six weeks on Wednesday as escalating tensions in the Middle East raised fresh concerns about potential disruptions to crude supplies. Brent crude futures rose above $92 per barrel, while US West Texas Intermediate (WTI) crude also advanced as investors reacted to heightened geopolitical risks and...