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                        <title>Latest Business News and Business News Headlines | Business</title>
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			<title>Govt hikes petrol by Rs3.81, HSD by Rs3.59 till August 24</title>
			<link>https://tribune.com.pk/story/2625133/govt-hikes-petrol-by-rs381-hsd-by-rs359-till-august-24</link>
			<comments>https://tribune.com.pk/story/2625133/govt-hikes-petrol-by-rs381-hsd-by-rs359-till-august-24#comments</comments>
			<pubDate>Fri, 21 Aug 26 17:16:14 +0500</pubDate>
			<dc:creator>
				<![CDATA[Web Desk]]>
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			<category><![CDATA[Pakistan]]></category>
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			<description>
				<![CDATA[Petrol price increased to Rs341.59, diesel to Rs368.29 per litre for the next three days]]>
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				<![CDATA[The federal government on Friday increased the price of petrol and high-speed diesel (HSD) by Rs3.81 and Rs3.59 per litre, respectively, for the next three days.

According to a notification issued by the Petroleum Division, the price of petrol has been fixed at Rs341.59 per litre, while HSD will cost Rs368.29 per litre from Aug 22 to Aug 24.

The latest revision comes a day after the government increased the price of petrol and HSD by 27 paisas and Rs1.64, respectively, for August 21.

Read: Govt increases petrol by 27 paisas, HSD by Rs1.64 for Aug 21

Last month, the government announced a new pricing mechanism under which petroleum product prices would be reviewed and notified on a daily basis, replacing the weekly pricing mechanism, as renewed tensions between the United States and Iran continued to drive volatility in global oil markets and raise concerns over fuel supplies.

According to the Pakistan Economic Survey 2024-25, petroleum products constitute one of the country&#39;s largest import categories, making the economy highly vulnerable to changes in global crude oil prices. Domestic refineries satisfy only part of national demand, while the remainder is met through imports of crude oil and refined petroleum products. Consequently, every increase in international oil prices raises Pakistan&#39;s import bill, pressures foreign exchange reserves, and contributes to inflation.

Pakistan previously exercised significant government control over petroleum pricing through subsidies and administrative interventions. While these measures temporarily protected consumers, they imposed substantial fiscal costs. During periods of elevated global oil prices, successive governments delayed passing price increases to consumers, creating financial pressures for oil marketing companies, refineries, and the national budget. Large fuel subsidies widened fiscal deficits, increased public borrowing, and weakened macroeconomic stability.

Global geopolitical developments continue to pose significant risks. International oil prices are influenced by decisions taken by OPEC+, conflicts in the Middle East, sanctions on oil-producing nations, and disruptions in critical shipping routes such as the Strait of Hormuz and the Red Sea. Any interruption in these supply chains can immediately increase crude oil prices and freight costs. Since Pakistan imports the majority of its petroleum requirements, these developments quickly translate into higher domestic fuel prices.

International and US crude futures &zwnj;rose on Friday after US President Donald Trump threatened economic sanctions on Iran&#39;s trading partners, raising expectations of tighter supply in the coming weeks.

International benchmark Brent crude futures rose 8 cents, or 0.09%, to $93.86 a barrel by 10:40 am CDT (1540 GMT). US West ​Texas Intermediate crude was up 16 cents, or 0.18%, at $86.99.

&quot;The immediate impact on supply may be limited as Iranian exports are already heavily constrained by the US naval blockade,&quot; said Crispus ​Nyaga, research analyst at Empire FX.]]>
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			<title>Food crisis fears rise as speculation stokes market jitters</title>
			<link>https://tribune.com.pk/story/2625144/food-crisis-fears-rise-as-speculation-stokes-market-jitters</link>
			<comments>https://tribune.com.pk/story/2625144/food-crisis-fears-rise-as-speculation-stokes-market-jitters#comments</comments>
			<pubDate>Fri, 21 Aug 26 18:52:41 +0500</pubDate>
			<dc:creator>
				<![CDATA[News Desk]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Geopolitical tensions, weather shocks and energy costs threaten food inflation as financial capital amplifies fears]]>
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				<![CDATA[Global food markets are facing a fresh bout of uncertainty as geopolitical tensions, weather disruptions and rising energy and fertiliser costs threaten to push food inflation higher, while financial markets appear to be positioning for a potential supply shock. International financial institutions, including Goldman Sachs, HSBC, Bank of America and JPMorgan Chase, have recently warned that a combination of risks could trigger another round of global food inflation.

In a report titled Food Security Is National Security: A Compounding Storm, JPMorgan senior global economist Nora Szentivanyi warned that disruptions to shipping through the Strait of Hormuz, combined with a potentially severe El Ni&ntilde;o, could reduce crop yields, constrain agricultural production and keep food inflation elevated through the first half of 2027.

According to the report, global food inflation could rise from 2.8% in the first half of 2026 to 5% in the same period next year, adding an estimated 0.6 percentage points to overall inflation. The impact is expected to be particularly severe in emerging economies across Asia, Africa and Latin America, where food accounts for a larger share of household expenditure and agricultural production is more vulnerable to extreme weather. The report cited estimates that around 645 million people went hungry last year, while approximately 2.1 billion experienced moderate or severe food insecurity.

The latest warnings have also been reflected in financial markets. Agricultural shares on China&#39;s A-share market have surged, with several companies hitting daily trading limits, while food-related exchange-traded funds have also gained. That sharp market reaction raises a broader question: are financial markets simply anticipating a genuine food-supply crisis, or could speculative capital itself amplify the fears and help turn a potential crisis into an actual one?

There is little doubt that the global food system is under pressure. The Russia-Ukraine war continues to disrupt agricultural and energy markets, while tensions in the Middle East have affected shipping and energy supplies. Disruptions around the Strait of Hormuz are particularly significant because the waterway is an important route for energy and fertiliser-related trade. Higher energy prices feed directly into agricultural costs through fuel, transportation and fertiliser production.

Restrictions affecting Russian natural gas supplies have added to concerns over the availability and cost of feedstocks used to manufacture nitrogen fertilisers. Any sustained increase in fertiliser prices can eventually translate into higher production costs for farmers and, ultimately, higher food prices.

Weather is another major source of uncertainty.

An exceptionally strong El Ni&ntilde;o can disrupt rainfall patterns and temperatures across major agricultural regions. The United Nations World Food Programme has estimated that the current event could push an additional 49 million people into acute food insecurity.

At the same time, inadequate storage infrastructure in some countries limits their ability to absorb sudden supply shocks. Water shortages are constraining irrigation in several regions, while food wastage continues to undermine effective global supply.

War, weather, water scarcity, inadequate reserves and food waste are therefore interacting in ways that could leave the global food system increasingly vulnerable.

But a heightened risk does not necessarily mean a global food crisis is inevitable. What warrants closer scrutiny is the role of financial capital in amplifying fears surrounding food supplies.

The experience of the 2007-08 food-price crisis offers an important lesson. While crop failures, rising demand and biofuel production contributed to upward pressure on prices, some researchers have argued that speculative activity in commodity markets significantly amplified the surge.

One study argues that speculation played a decisive role in the food-price bubble of 2007-08. It notes that the Food and Agriculture Organisation&#39;s food price index rose 71% in just 15 months between the end of 2006 and March 2008 before falling sharply after July 2008.

The study contends that longer-term factors such as rising demand in emerging markets, stagnant production and increased use of agrofuels could not alone explain such a rapid rise and subsequent collapse. It points instead to the growing participation of institutional investors, including index and hedge funds, in commodity markets.

As the global financial crisis intensified towards the end of 2007, investors moved substantial amounts of capital into commodities, including oil and agricultural products. According to the study, this influx accelerated existing price increases and contributed to the formation of a speculative bubble.

The debate over the precise contribution of speculation remains contested. But there is little doubt that financial markets can influence expectations, and expectations can themselves affect physical markets.

Speculators do not necessarily need to acquire large quantities of grain to influence prices. Expectations of future shortages can encourage traders, farmers and governments to alter their behaviour.

When futures prices rise sharply, farmers and traders may choose to hold back supplies in anticipation of higher prices. Governments worried about domestic shortages may restrict exports, while importing countries may rush to build inventories.

Individually, each response may appear rational. Collectively, however, they can tighten supplies available on international markets and push prices even higher. In this way, a shortage that initially exists mainly in expectations can acquire a physical dimension.

This is why speculation in food commodities matters beyond financial markets. Higher grain prices can have a disproportionate impact on poorer countries, where households spend a large share of their income on food.

The 2007-08 price surge contributed to severe hardship in developing countries and triggered food-related unrest in several parts of the world.

The lesson from that episode is not that every warning issued by financial institutions should be dismissed. Rather, it is that warnings themselves can influence market behaviour when they coincide with large pools of speculative capital.

The challenge for policymakers is therefore to distinguish between legitimate risk assessment and market activity that amplifies fear for financial gain. One of the strongest defences against such volatility is maintaining adequate food supplies and strategic reserves.

Countries that have experienced repeated supply shocks are increasingly seeking greater food security and, in some cases, greater self-sufficiency.

China, for example, has continued its policy of increasing grain production through improved agricultural technology and maintaining substantial reserves. The country has strengthened its cereal production capacity while seeking to ensure security of staple grains.

Brazil has also placed greater emphasis on food sovereignty and expanding agricultural production. The European Union has revived discussions over strategic food reserves, while countries in Southeast Asia are exploring longer-term rice trade arrangements to reduce vulnerability to sudden disruptions in international markets.

Several African countries are similarly seeking to raise agricultural productivity and reduce dependence on volatile global food markets.

These measures could provide an important buffer against both genuine supply disruptions and speculative price swings.

The latest global production figures also offer some reassurance.

According to the FAO&rsquo;s July 2026 forecast, global cereal production is expected to reach 2.983 billion tonnes this year. Although slightly below the record level recorded in 2025, it would still represent the second-highest production level on record.

Global cereal stocks at the end of the 2026-27 season are forecast at 957.8 million tonnes, an increase of 8.2 million tonnes from the previous year. These figures suggest that the world is not currently facing an unavoidable shortage of basic grains.

That does not mean the risks can be ignored. A major weather event, prolonged geopolitical disruption or a sharp increase in energy and fertiliser costs could quickly alter the outlook. But abundant production and inventories provide governments with valuable room to respond before panic takes hold.

The central lesson is therefore one of vigilance rather than alarm.

Governments need to strengthen food reserves, improve storage infrastructure, invest in agricultural productivity and protect vulnerable populations from sudden price increases. At the same time, regulators need to keep a close watch on commodity markets to ensure that excessive speculative activity does not turn genuine concerns about food security into self-fulfilling crises.]]>
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			<title>PSX rebounds as KSE-100 gains 575 points on value buying</title>
			<link>https://tribune.com.pk/story/2625123/psx-rebounds-as-kse-100-gains-575-points-on-value-buying</link>
			<comments>https://tribune.com.pk/story/2625123/psx-rebounds-as-kse-100-gains-575-points-on-value-buying#comments</comments>
			<pubDate>Fri, 21 Aug 26 15:32:03 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Market activity remains relatively subdued, with traded volume reaching 677m shares]]>
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				<![CDATA[The Pakistan Stock Exchange (PSX) closed on a positive note on Friday as value hunting supported a recovery in select stocks. The benchmark KSE-100 Index rose 575 points to settle near 177,170.

PSX witnessed a positive session today, with the KSE-100 Index gaining 575 points (+0.33% DoD) to close at 177,167.

During the session, the power sector led the recovery, with HUBC attracting value hunters after declining nearly 14% from its recent high of Rs227.9 (on August 10), said Ali Najib, Deputy Head of Trading at Arif Habib Ltd at around Rs200, the stock offered an anticipated dividend yield of nearly 10%, while its diversified portfolio in different growth businesses story further strengthened investor interest.

Meanwhile, reports of a refinery agreement expected to be signed within the next 10 days kept the refinery sector in the green, with PRL and CNERGY hitting their upper circuits (+10%).

Read: Oil refineries urged to swiftly upgrade plants

On the corporate front, ENGROH reported 2QCY26 EPS of Rs7.45, down 70% YoY and 7% QoQ.

On the index contribution front, OGDC, HUBC, ATRL, SRVI, PPL, MARI, CNERGY, LUCK, FATIMA, and PSO collectively added 672 points to the benchmark index.

Market activity remained relatively subdued, with traded volume reaching 677 million shares and total turnover of Rs35.5 billion. CNERGY topped the volume chart with 250 million shares traded.

The KSE-100 Index ended the week on a negative note, declining 2,938 points (-1.63% WoW) to close at 177,167. During the week, the index traded between an intraday high of 181,159 and a low of 176,111, amid profit-taking and renewed geopolitical uncertainty that weighed on investor sentiment.

Going forward, heightened volatility and selective profit-taking are expected, with geopolitical developments and oil prices remaining key drivers of market direction.]]>
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			<title>Gold prices rise for second day, hit Rs477,136 per tola</title>
			<link>https://tribune.com.pk/story/2625071/gold-prices-rise-for-second-day-hit-rs477136-per-tola</link>
			<comments>https://tribune.com.pk/story/2625071/gold-prices-rise-for-second-day-hit-rs477136-per-tola#comments</comments>
			<pubDate>Fri, 21 Aug 26 09:05:14 +0500</pubDate>
			<dc:creator>
				<![CDATA[Web Desk]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Yesterday, price of gold increased by Rs13,700 per tola]]>
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				<![CDATA[Gold prices continued their upward trend for a second consecutive day in international and local markets on Friday. In the international bullion market, the price of gold rose by $52 per ounce to reach $4,547.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), in the local market, the price of gold increased by Rs5,200 per tola to Rs477,136, while the price of 10 grams of gold rose by Rs4,458 to Rs409,067.

Meanwhile, the price of silver also continued to rise. The price of silver increased by Rs210 per tola to Rs7,379, while the price of 10 grams of silver rose by Rs180 to Rs6,326.

On Thursday, gold prices rose in the local market.&nbsp;According to APGJSA, the price of gold increased by Rs13,700 per tola to Rs471,936. The price of 10 grams of gold rose by Rs11,746 to Rs404,609.&nbsp;

The price of silver in the local market increased by Rs317 per tola to Rs7,169. The price of 10 grams of silver also increased by Rs317 to Rs6,146.

Read:&nbsp;Govt allows 108,000MT sugar export

On&nbsp;Wednesday, Gold prices in the local market declined even as international rates surged more than 3% to their highest level in over two and a half months. According to the APGJSA, the price of gold per tola fell by Rs3,700 to Rs458,236. Similarly, 10-gram gold was available at Rs392,863 after a drop of Rs3,172.

On&nbsp;Tuesday, according to the APGJSA, gold prices remained steady in the local market at Rs461,936 per tola.

On&nbsp;Monday, in the local market, the price of gold per tola reached Rs461,936 after a gain of Rs2,000, according to the APGJSA. 10 grams of gold were sold at Rs396,035, up Rs1,715.]]>
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			<title>Oil set for second weekly gain as US ramps up pressure on Iran</title>
			<link>https://tribune.com.pk/story/2625074/oil-set-for-second-weekly-gain-as-us-ramps-up-pressure-on-iran</link>
			<comments>https://tribune.com.pk/story/2625074/oil-set-for-second-weekly-gain-as-us-ramps-up-pressure-on-iran#comments</comments>
			<pubDate>Fri, 21 Aug 26 09:22:16 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Brent, WTI dip Friday but post weekly gains as Hormuz shipping halves amid stalled peace talks]]>
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				<![CDATA[Oil prices &zwnj;edged lower on Friday but were on track for a second straight weekly gain after the United States threatened to impose&nbsp;&quot;the toughest sanctions in history&quot; with no end in sight for disruptions to Middle East ​oil flows.

Brent crude futures fell 17 cents, or 0.18%, to $93.61 a barrel by 0802 ​GMT. US West Texas Intermediate crude futures slipped 36 cents, or 0.41%, ⁠to $86.47.

The Brent benchmark has gained more than 5.8% while WTI has risen 4.8% this week, ​with both touching their highest since July 24 in the previous session.

&quot;The US is taking ​a very firm stance against Iran, with the blockade back in place and threats of tougher sanctions on Iranian oil exports, and that&#39;s why we are seeing oil prices back above $90 a barrel,&quot; said ANZ ​analyst Soni Kumari.

US Treasury chief Scott Bessent had issued the sanctions threat, suggesting such measures ​would reduce the need for new major military operations.

Read:&nbsp;Oil prices up 1% to near 3-week high

Oil prices have climbed on concerns over the continued &zwnj;curtailment ⁠of supply from major oil producers such as Saudi Arabia, Iraq, the United Arab Emirates and Kuwait.

The earlier peace deal between the US and Iran expired this week with no effort by either side to restart talks.

The market is starting to adjust to the fact that ​oil trade and supply ​conditions are unlikely to ⁠return to prewar levels anytime soon, ANZ&#39;s Kumari added.

Supply disruption continues

Seven commodity ships sailed along the Strait of Hormuz on Thursday, which was ​only half the previous day&#39;s tally, data from ship-tracker Kpler showed.

Before the ​US-Israeli attacks ⁠on Iran began in late February, the Strait of Hormuz handled about a fifth of global oil and liquefied natural gas supplies. As the war approaches the six-month mark, disruptions to energy ⁠flows ​through the waterway remain in place.

Elsewhere, Ukraine&#39;s military has ​hit Russia&#39;s TANECO oil refinery in the Tatarstan region as well as the Tamanneftegaz oil terminal in the Krasnodar ​region, the Ukrainian General Staff said on Thursday.]]>
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			<title>Iqbal urges Sialkot to aim for $1b exports</title>
			<link>https://tribune.com.pk/story/2624992/iqbal-urges-sialkot-to-aim-for-1b-exports</link>
			<comments>https://tribune.com.pk/story/2624992/iqbal-urges-sialkot-to-aim-for-1b-exports#comments</comments>
			<pubDate>Fri, 21 Aug 26 05:33:20 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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				<![CDATA[Germany, Pakistan sign MoU to expand readymade garment trade]]>
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				<![CDATA[Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has urged Sialkot&#39;s exporters to set ambitious targets, embrace technology and move from low-cost manufacturing to high-value, internationally recognised brands, saying exporters earning foreign exchange should be treated as national heroes.

Addressing the first-ever Business Networking Reception of the German-Pakistan Chamber of Commerce and Industry (GPCCI) held in collaboration with the Pakistan Readymade Garments Manufacturers &amp; Exporters Association (PRGMEA), Iqbal said Pakistan had a major opportunity to build a complementary partnership with Germany in engineering, technology, manufacturing and technical education.

He said incentives should be offered to companies that achieve the milestone of becoming Pakistan&#39;s first billion-dollar export company, while Germany&#39;s vocational training model could help Pakistan develop a skilled workforce.

The event brought together senior government officials, presidents and office-bearers of trade associations and members of Sialkot&#39;s business community.

In a key development, GPCCI and PRGMEA signed a Memorandum of Understanding to promote and expand readymade garment trade between Pakistan and Germany. German Ambassador to Pakistan and GPCCI Patron-in-Chief Ina Lepel, in a recorded video message, stressed the continuing importance of GSP+ for Pakistan-Germany economic relations and expressed hope to visit Sialkot soon. She also noted the resilience of Pakistan&#39;s business sector and said further work remained important on GSP+ issues.

Former Federal Minister for Commerce Khurram Dastgir Khan said Germany was Pakistan&#39;s most important and largest trading partner in the European Union and recalled Pakistan&#39;s successful efforts to secure GSP+ status in 2014. He urged trade associations to help small exporters gain greater access to European markets and congratulated Sialkot-based Forward Sports for manufacturing footballs for the FIFA World Cup 2026.

PRGMEA former chairman Ijaz A Khokhar, who is also Vice President of the International Apparel Federation (IAF), welcomed the GPCCI initiative, saying stronger Pakistan-Germany business engagement could help Sialkot exporters expand their presence in European markets. He was also congratulated on becoming the first Pakistani elected to the IAF vice presidency.

GPCCI President Syed Nadeem Ali Kazmi said the reception represented the chamber&#39;s deliberate move to extend its activities beyond Karachi, Lahore and Islamabad. He invited Sialkot&#39;s industrialists and exporters with German business interests to join GPCCI and use its platform to develop trade and investment links.

PRGMEA former chairman Sohail A Sheikh stressed the need for stronger institutional cooperation to expand apparel exports, improve international market access and enable Pakistani manufacturers to compete in higher-value segments.

PRGMEA Chairman (North Zone) Imran Salahuddin said the MoU provides a framework for sharing trade and investment information and supporting a favourable business environment. It was signed by Kazmi and Salahuddin.

The reception marked GPCCI&#39;s first business networking initiative in Sialkot, providing a new platform for closer engagement between the city&#39;s export-oriented industries and German businesses.]]>
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			<title>'Energy affordability key for export growth'</title>
			<link>https://tribune.com.pk/story/2624821/energy-affordability-key-for-export-growth</link>
			<comments>https://tribune.com.pk/story/2624821/energy-affordability-key-for-export-growth#comments</comments>
			<pubDate>Wed, 19 Aug 26 21:18:15 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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				<![CDATA[Chamber welcomes long-term plan, says success depends on reforms, consultation]]>
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				<![CDATA[Affordable and reliable energy is essential for Pakistan&#39;s industrial competitiveness and export growth, Lahore Chamber of Commerce and Industry (LCCI) President Faheemur Rehman Saigol said on Wednesday, as he welcomed the Cabinet Committee on Energy&#39;s approval of the National Integrated Energy Plan 2027-2060.

&quot;Pakistan needs an energy policy that ensures reliability, affordability and predictability. Industry cannot compete internationally when energy costs remain high or supplies are uncertain,&quot; Saigol said. The LCCI president termed the plan a positive and important step toward building a more efficient, affordable, reliable and sustainable energy system in Pakistan.

He said bringing power, petroleum, gas and other energy sectors under a unified long-term planning framework could help address fragmentation, improve coordination among federal and provincial institutions and prevent unnecessary duplication of infrastructure and investment.

Saigol stressed that the plan&#39;s success would ultimately depend on its effective implementation and its ability to translate into tangible benefits for businesses and consumers.

The LCCI president said greater utilisation of indigenous energy resources, renewable energy and emerging technologies such as energy storage could help reduce Pakistan&#39;s dependence on expensive imported energy, ease pressure on foreign exchange reserves and improve energy security. Saigol called for meaningful consultation with the business community, particularly chambers of commerce, industrial associations and major energy-consuming sectors, during the formulation of the detailed plan.]]>
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			<title>Oil prices up 1% to near 3-week high</title>
			<link>https://tribune.com.pk/story/2624823/oil-prices-up-1-to-near-3-week-high</link>
			<comments>https://tribune.com.pk/story/2624823/oil-prices-up-1-to-near-3-week-high#comments</comments>
			<pubDate>Wed, 19 Aug 26 21:18:15 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Shipping through the Strait of Hormuz also remained slow, data showed]]>
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				<![CDATA[Global crude prices rose more than 1% on Wednesday and were trading near a three-week high hit during the session, as investors worried about escalating tensions in the Middle East after the United Arab Emirates decided to suspend all financial and economic transactions with Iran.

Shipping through the Strait of Hormuz also remained slow, data showed, as most ship owners avoided the waterway because of a lack of clear signalling on its reopening from a blockade. Brent crude futures were up $1.17, or nearly 1.3%, at $92.21 at 1741 GMT. US WTI crude futures were $1.51, or 1.8% higher at $86.45 a barrel.

&quot;Crude futures remain supported by the geopolitical tensions that remain in the Middle East, now with the UAE stating they have cut off all financial ties to Iran due to the latest missile attacks,&quot; said Dennis Kissler, senior vice president of trading at BOK Financial.]]>
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			<title>Volatile session at PSX ends in red</title>
			<link>https://tribune.com.pk/story/2624994/volatile-session-at-psx-ends-in-red</link>
			<comments>https://tribune.com.pk/story/2624994/volatile-session-at-psx-ends-in-red#comments</comments>
			<pubDate>Fri, 21 Aug 26 05:33:20 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2624994</guid>
			<description>
				<![CDATA[KSE-100 index slips 255 points after failing to breach 178k-180k resistance]]>
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				<![CDATA[Pakistan Stock Exchange (PSX) ended lower on Thursday as the benchmark KSE-100 index slipped 255 points amid a volatile session marked by an early surge and a sharp reversal.

After initially climbing more than 1,400 points and touching the intra-day high of 178,291, the index failed to hold above the key 178,000-180,000 resistance zone and retreated to the low of 176,157. Selling pressure in banking and power heavyweights outweighed selective buying in the oil and gas exploration sector, while the overall market breadth remained weak. Regular market turnover stood at 665 million shares worth Rs30.8 billion.

At the close of trading, the KSE-100 index posted a modest loss of 254.59 points, or 0.14%, and settled at 176,591.77.

Arif Habib Limited (AHL) noted that despite a largely flat session, the KSE-100 failed to penetrate the critical 178,000-180,000 resistance zone and closed at 176,591.8, down 254.6 points. Market breadth stayed negative, with only 37 shares advancing against 61 decliners.

OGDC (+1.63%), Engro (+1.28%) and Sazgar Engineering (+7.29%) contributed the bulk of the limited upside, while UBL (-1.26%), Hub Power (-1.21%) and Bank AL Habib (-1.36%) exerted the heaviest drag on the index.

Bloomberg raised its outlook for Pakistan&#39;s potential growth to 3.9% in fiscal 2030 from 3.4% in the year ended June 2026, projecting a peak of 4.6% by fiscal 2038. Among corporate developments, Nishat Mills announced its exit from the joint-venture investment in Nishat Sutas Dairy Limited, citing adverse market and regulatory conditions weighing on the dairy sector&#39;s financial health.

Regular market turnover reached 665.2 million shares worth Rs30.8 billion. &quot;Technical pressure remains skewed to the downside for as long as the benchmark stays capped below the 178k-180k resistance band,&quot; AHL said.

Topline Securities, in its market review, stated that the KSE-100 closed down by 255 points (-0.14%), following a highly volatile trading session. The index initially surged by more than 1,400 points but failed to sustain its gains, reaching the intra-day high of 178,291 before retreating to the low of 176,157.

Selling pressure remained concentrated in key heavyweight stocks, while selective buying in the oil &amp; gas exploration sector provided some support. The sharp intra-day reversal reflected continued investor caution following the recent market correction.

Sentiment remained subdued amid renewed geopolitical uncertainty and elevated international oil prices, which prompted investors to reduce exposure across major sectors. On the negative side, UBL, Hubco, Bank AL Habib, HBL, and Fatima Fertiliser were the major drags, collectively shaving approximately 458 points off the benchmark index.

Conversely, OGDC, Engro Holdings, and Sazgar Engineering were among the key positive contributors, collectively adding 321 points to the index. Market participation was modest, with total traded volumes reaching 665 million shares, while the traded value stood at Rs30.8 billion.

The overall market turnover of 665.19 million shares was lower than the previous session&#39;s tally of 787.89 million.

In the ready market, shares of 492 companies were traded. Of these, 144 stocks closed higher, 312 fell, and 36 remained unchanged.

Cnergyico Pk was the volume leader with trading in 221 million shares, losing Rs0.82 to close at Rs13.19. It was followed by First National Equities with 25 million shares, remaining unchanged at Rs1.17, and Globe Residency with 18.8 million shares, gaining Rs0.09 to close at Rs22.99. Foreign investors bought shares worth Rs582.7 million, the National Clearing Company reported.]]>
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			<title>Sindh enterprises offered Rs35m grant</title>
			<link>https://tribune.com.pk/story/2624828/sindh-enterprises-offered-rs35m-grant</link>
			<comments>https://tribune.com.pk/story/2624828/sindh-enterprises-offered-rs35m-grant#comments</comments>
			<pubDate>Wed, 19 Aug 26 21:18:15 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[SEDF, UNIDO launch scheme under EU-funded poverty alleviation programme]]>
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				<![CDATA[The Sindh Enterprise Development Fund (SEDF) and the United Nations Industrial Development Organisation (Unido) on Wednesday formally launched the Enterprise Grant Scheme under the European Union-funded Poverty Alleviation &amp; Inclusive Development Across Rural Sindh (PAIDAR) programme, offering co-financed grants of up to a maximum of Rs35 million per project to enterprises in five districts of Sindh.

The launch ceremony brought together senior government officials, development partners, entrepreneurs and representatives from the business community.

The grant window covers Thatta, Sujawal, Badin, Tharparkar and Larkana, where priority is being given to fisheries and aquaculture, information technology, research and development, waste recycling and bio-waste utilisation, with women-led businesses as a cross-cutting priority.

Applications will remain open until September 15, 2026. Under the scheme, SEDF and Unido will jointly finance up to 70% of eligible project costs, while applicants will contribute at least 30% or more.

The scheme is open to existing SMEs, startups, cooperatives and business associations as well as investors from elsewhere in Pakistan willing to establish or operate businesses in the five targeted districts.

Speaking at the launch, SEDF CEO Khizar Pervaiz highlighted the importance of improving access to capital for entrepreneurs and the role of the grant in enabling businesses to expand and strengthen their operations. &quot;This grant support can help entrepreneurs expand, innovate and strengthen their businesses, while creating greater opportunities for investment and employment across Sindh.&quot;

Special Assistant to Sindh CM on Investment &amp; PPP Projects Syed Qassim Naveed Qamar explored the role of entrepreneurship and private-sector development in driving Sindh&#39;s economic growth. &quot;When we support entrepreneurs, we are not only supporting individual businesses, we are encouraging investment, creating employment and strengthening entire value chains,&quot; he stated.]]>
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			<title>PSX dips 1,109 points over fuel price concerns</title>
			<link>https://tribune.com.pk/story/2624827/psx-dips-1109-points-over-fuel-price-concerns</link>
			<comments>https://tribune.com.pk/story/2624827/psx-dips-1109-points-over-fuel-price-concerns#comments</comments>
			<pubDate>Wed, 19 Aug 26 21:18:15 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2624827</guid>
			<description>
				<![CDATA[Index faces selling pressure as govt plans talks with refineries for diesel rate cut]]>
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				<![CDATA[Pakistan Stock Exchange (PSX) on Wednesday gave up early gains as the benchmark KSE-100 index came under selling pressure late in the session over rising oil prices and uncertainty surrounding shipping traffic through the Strait of Hormuz.

The index opened on a positive note, when the KSE-100 gained 483 points, or 0.27%, and reached 178,438.68 by 9:34 am. The buying was led by sectors such as auto assemblers, cement, commercial banks, oil and gas exploration, oil marketing and power generation. However, the market failed to sustain the momentum and started falling gradually.

The index touched the intra-day high of 178,942.31 before dropping to the low of 176,638.11 and it ultimately settled at 176,846.36, down 1,109.15 points, or 0.62%. Investor sentiment remained subdued as oil prices climbed to their highest level in around three weeks. Persistent uncertainty about shipping through Hormuz, coupled with disruptions to global supplies, heightened concerns over energy costs and their potential impact on the broader economy. News saying that the PM had directed the petroleum minister to travel to Karachi and engage with oil refineries for relief in fuel prices further weighed on investor sentiment.

Arif Habib Limited (AHL) Deputy Head of Trading Ali Najib observed that the market opened on a positive note, briefly touching the intra-day high of 178,942 (+987 points, or 0.55%). However, sentiment weakened after media reports said the petroleum minister would negotiate with local refineries for a reduction in diesel prices amid elevated fuel costs and global market disruptions. The development triggered broad-based selling in the refinery sector, weighing on the broader market.

United Bank, Engro Holdings, Habib Bank, Fauji Fertiliser, Attock Refinery, Meezan Bank, Mari Energies, Systems Ltd, Cnergyico Pk and National Bank erased 859 points from the index. Going forward, Najib expected heightened volatility and selective profit-taking, with geopolitical developments and oil prices being key drivers of market direction.

KTrade Securities noted that the KSE-100 closed down by 1,109 points, extending the recent selling pressure. Market participation remained weak across major sectors, with commercial banks, investment companies, refineries, fertiliser and cement stocks coming under pressure. UBL, Engro Holdings, HBL, FFC, Attock Refinery, Meezan Bank, Mari Energies and Systems Ltd were among the notable laggards.

The energy sector failed to provide support seen in previous sessions. Despite higher oil prices and recent optimism about the refinery policy, the refinery sector lost momentum, removing an important pillar of market support, it wrote. Sentiment was likely to remain cautious as the index faced broad-based selling and struggled to reclaim the 180,000 level. Continued weakness in heavyweight banks, fertiliser, refineries and cement stocks could keep the market under pressure while stabilisation in energy names may provide temporary relief, KTrade predicted.

According to Topline Securities, the local bourse opened on a positive note, supported by news that the government planned to settle Rs1.49 trillion of the Rs3.6 trillion gas-sector circular debt. The settlement plan was expected to be partly funded through higher dividends from state-owned E&amp;P firms and increased petroleum levy collection.

The initial optimism pushed the KSE-100 to the intra-day high of 986 points. However, the positive momentum quickly faded as aggressive selling pressure took over, with the index plunging to the intra-day low of 1,317 points. The market ultimately settled at 176,846, down 1,109 points as early gains were completely erased and bears took firm control of the session, Topline wrote.

Overall trading volumes decreased to 787.9 million shares versus Tuesday&#39;s total of 1.04 billion. The value of traded shares stood at Rs39.6 billion.

In the ready market, shares of 496 companies were traded. Of these, 185 stocks closed higher, 271 fell and 40 remained unchanged.

Cnergyico Pk was the volume leader with trading in 217.5 million shares, losing Rs0.78 to close at Rs14.01. Foreign investors sold shares worth Rs827.5 million, the National Clearing Company reported.]]>
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			<title>2nd round of CEPA talks with Seoul soon</title>
			<link>https://tribune.com.pk/story/2624990/2nd-round-of-cepa-talks-with-seoul-soon</link>
			<comments>https://tribune.com.pk/story/2624990/2nd-round-of-cepa-talks-with-seoul-soon#comments</comments>
			<pubDate>Fri, 21 Aug 26 05:33:20 +0500</pubDate>
			<dc:creator>
				<![CDATA[APP]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Pakistani, Korean firms sign six MoUs at investment conference]]>
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				<![CDATA[A Pakistan-Korea Trade and Investment Conference was organised in Seoul, bringing together over 170 Pakistani and Korean businessmen and resulting in the signing of six memoranda of understanding (MoUs) between companies of the two countries.

The conference was held in the backdrop of ongoing negotiations between Pakistan and Korea on a Comprehensive Economic Partnership Agreement (CEPA). Addressing the conference via video link as the chief guest, Federal Minister for Commerce Jam Kamal Khan stated that the first round of CEPA negotiations between Pakistan and Korea had been successfully concluded and the second round was expected to begin soon.

The minister said the agreement, once finalised, would open new avenues for Pakistani exporters and further strengthen bilateral economic relations. He urged the business communities of both countries to utilise the platform provided by the conference to forge concrete partnerships ahead of conclusion of the agreement.

The conference was attended by 91 Korean and 82 Pakistani businessmen, including members of the Pakistani diaspora in Korea as well as delegates from the Sialkot Chamber of Commerce and Industry and the Gujranwala Chamber of Commerce and Industry.

The proceedings commenced with a welcome address by the ambassador of Pakistan, followed by remarks from the vice chairman of the Daegu Chamber of Commerce and Industry.

Officials of the Special Investment Facilitation Council (SIFC) and the Trade Development Authority of Pakistan (TDAP) also briefed the participants, highlighting Pakistan&#39;s export potential in textiles and apparel, leather goods, surgical and sports goods, agro-food products, minerals and IT services.

During the dedicated business-to-business (B2B) sessions, Pakistani companies represented by the Sialkot, Gujranwala and other chambers of commerce signed six MoUs with their Korean counterparts, covering sectors such as salt, cosmetics, oil and sesame seed trade.

The MoUs are expected to serve as a foundation for definitive commercial agreements between the respective companies. The commercial wing of the embassy of Pakistan in Seoul will continue to serve as the focal point for facilitation of Korean investors and trading partners. It was announced that a second such conference was being planned in Seoul in March 2027 to build on the momentum generated once CEPA was concluded.]]>
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			<title>SECP unveils timelines for insurance claims</title>
			<link>https://tribune.com.pk/story/2624995/secp-unveils-timelines-for-insurance-claims</link>
			<comments>https://tribune.com.pk/story/2624995/secp-unveils-timelines-for-insurance-claims#comments</comments>
			<pubDate>Fri, 21 Aug 26 05:33:20 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Motor insurance claims must be decided within five days of receiving the survey report]]>
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				<![CDATA[The Securities and Exchange Commission of Pakistan (SECP) has proposed new timelines for the settlement of insurance claims to strengthen consumer protection.

The proposed Insurance Market Conduct Rules 2026 will apply only to individual insurance policies. In a major step to safeguard the rights of insurance consumers, the SECP has released the draft rules for public consultation.

According to the details, the proposed rules aim to ensure the timely processing of claims, transparency and consumer protection. Mandatory timelines have been proposed for insurance companies to settle claims, while their responsibilities from the issuance of a policy to the payment of a claim will be clearly defined. Companies will be required to process and pay claims within the prescribed time limits.

Under the proposed rules, life insurance claims must be decided within 20 days of receiving the required documents. Motor insurance claims must be decided within five days of receiving the survey report, while other non-life insurance claims must be decided within seven days of the survey.]]>
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			<title>Stable EV policy, wider charging network crucial</title>
			<link>https://tribune.com.pk/story/2624825/stable-ev-policy-wider-charging-network-crucial</link>
			<comments>https://tribune.com.pk/story/2624825/stable-ev-policy-wider-charging-network-crucial#comments</comments>
			<pubDate>Wed, 19 Aug 26 21:18:15 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2624825</guid>
			<description>
				<![CDATA[Dialogue calls for long-term framework to meet 2030 electrification targets]]>
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				<![CDATA[Policy dialogue has called for a stable electric vehicle (EV) framework and a wider charging network to accelerate affordable electric mobility across Pakistan.

Indus Consortium hosted a policy dialogue titled &quot;Electrifying Everyday Mobility: Advancing Public Transport and Two &amp; Three-Wheelers&quot; at the Pakistan Red Crescent late Tuesday evening.

The dialogue brought together representatives from government ministries, academia, financial institutions, the private sector, development partners and civil society to discuss practical pathways for accelerating affordable electric mobility, in line with the government&#39;s New Energy Vehicle (NEV) Policy 2025-2030. The policy targets 30% electrification of all new vehicle sales by 2030, with a specific 50% electrification target for two-wheelers, three-wheelers and buses over the same period. In his welcome remarks, Indus Consortium Board Member Liaqat Ali said Pakistan needed a stable, long-term EV policy framework instead of frequent changes, so that the industry and financial institutions could plan and invest with confidence.

Member Senate Standing Committee on Power Poonjo Mal Bheel said charging and battery-swapping infrastructure must be expanded well beyond highways into cities, residential areas and rural regions to support everyday EV use, and that the national grid required upgrading and stronger integration with renewable energy to reliably meet growing EV demand.

Sindh University Jamshoro Vice Chancellor Dr Fateh Marri remarked that youth were the future of the country and they would be equipped with knowledge, skills, and exposure to showcase their ideas and thoughts through creative activities.

Speakers emphasised that the local manufacturing of EVs, batteries and components should be promoted as a distinct industrial priority to reduce costs and build a self-sustaining EV industry. They said banks and financial institutions needed clearer standards on battery life and resale value, along with de-risking mechanisms, to unlock affordable EV financing for consumers and businesses, and called for closer coordination between government ministries, regulators, financial institutions and the industry to ensure the policy, grid development and financing move forward together towards the 2030 targets.

The discussion focused on innovative financing and leasing mechanisms, effective delivery of consumer incentives and subsidies, localisation of EV manufacturing and supply chains, integration of renewable energy with electric mobility, and the policy and regulatory reforms needed to create an enabling investment environment. The dialogue also provided a platform for stakeholders to share international and national best practices and develop actionable recommendations to support Pakistan&#39;s transition towards a cleaner, more resilient and climate-smart transport system.]]>
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			<title>ECO Chamber asked to develop action plan</title>
			<link>https://tribune.com.pk/story/2624679/eco-chamber-asked-to-develop-action-plan</link>
			<comments>https://tribune.com.pk/story/2624679/eco-chamber-asked-to-develop-action-plan#comments</comments>
			<pubDate>Wed, 19 Aug 26 00:34:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Region's potential needs to be turned into tangible 
trade, investment: FPCCI chief]]>
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				<![CDATA[Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has stressed the need for transforming the vast economic potential of the Economic Cooperation Organisation (ECO) region into tangible trade, investment and business opportunities through greater connectivity, facilitation and private-sector cooperation.

Addressing a high-profile meeting of the ECO Chamber of Commerce and Industry (ECO-CCI), attended by representatives of national chambers of commerce and industry from all ECO member countries, Sheikh emphasised that despite the region&#39;s strategic location, abundant resources and a market of more than 500 million people, intra-regional trade remained considerably below potential.

He called for moving from dialogue to practical action through the removal of trade bottlenecks, simplification of customs procedures, improved business mobility, revival of regional road and rail connectivity, including the ECO train, and stronger B2B engagement. He proposed that the ECO-CCI should develop Action Agenda 2026-27, with specific initiatives and mechanisms for monitoring progress.

The FPCCI chief, who is also the ECO-CCI president, underlined the need to move beyond conventional trade towards joint production and regional value chains, particularly in agriculture and food processing, textiles, minerals, energy, engineering, pharmaceuticals and IT. He advocated greater focus on SMEs, investment facilitation, women entrepreneurship, tourism and regular trade exhibitions and B2B forums to connect businesses across the region.

ECO Secretary General Asad Majeed Khan, while speaking at the meeting, highlighted the significant economic potential of the ECO region but noted that intra-regional trade remained far below potential due to tariff and non-tariff barriers, customs and logistical bottlenecks, limited business-to-business interaction and payment-related constraints.

He briefed participants on recent ECO initiatives relating to trade facilitation, ECOTA, customs cooperation, transportation and business mobility, and underscored the critical role of the ECO-CCI and national chambers in creating business linkages.]]>
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			<title>'Missing ecosystem' keeps Pakistan from building robots</title>
			<link>https://tribune.com.pk/story/2624676/missing-ecosystem-keeps-pakistan-from-building-robots</link>
			<comments>https://tribune.com.pk/story/2624676/missing-ecosystem-keeps-pakistan-from-building-robots#comments</comments>
			<pubDate>Wed, 19 Aug 26 00:34:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[APP]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Robionix founder says AI garment inspection had been localised, seeks Chinese robot parts]]>
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				<![CDATA[Robionix Technologies, a Pakistani maker of AI-based garment inspection systems, says it can now build most of its equipment at home. But precision robot components remain out of reach, and its founder says Chinese partners could help close that gap.

Awais Yasin, Founder and Chief Executive of Robionix, called for joint laboratories tied to industrial projects, joint ventures with defined localisation targets and long-term training between Chinese and Pakistani engineers.

The company&#39;s system, MagicQC, checks whether a finished garment matches the buyer&#39;s order. The garment goes on a measurement bed, a camera identifies measurement points, and the system returns a pass or fail.

Getting that right matters in Pakistan&#39;s largest export industry, where measurements must meet buyer specifications. Textiles earned $17.88 billion in FY25, about 56% of the country&#39;s merchandise exports, according to the Pakistan Bureau of Statistics (PBS).

In a recent installation, Yasin said only three major components came from abroad: the industrial camera, the operator touchscreen and its mounting assembly. The measurement bed, lighting, display, computer and electrical parts were made or sourced in Pakistan.

Robionix has deployed systems at factories in Karachi, Faisalabad and Sialkot, though commercial installations remain limited.

A robot is harder. An inspection system stays still and looks. A robot arm must move to a point and return with accuracy, repeatability, speed and reliability expected of industrial equipment, which depends on servo motors, precision encoders and servo drives. Yasin said Pakistan lacks local sources for those components at the required precision and scale.

Pakistan can design the structure, electronics and control software. What it lacks is the precision manufacturing base, which leaves the fully indigenous six-axis industrial arm out of reach.

&quot;The robot itself is not the biggest problem,&quot; he said. &quot;The missing ecosystem around the robot is the bigger challenge.&quot;

He saw that ecosystem while studying for a robotics PhD at the Beijing Institute of Technology in the 2010s: universities doing advanced research, companies building robots, suppliers producing precision components, factories deploying them at scale. China installed 295,000 industrial robots in 2024, 54% of the world&#39;s total, according to the International Federation of Robotics (IFR).

Pakistan, meanwhile, was buying finished automation equipment, said Yasin, who is also a professor at the National University of Technology in Islamabad. The gap remains wide in industrial scale and component manufacturing.

China&#39;s production base in motors, reducers and controllers makes Chinese suppliers potential partners, Yasin said. Cooperation should start with localising integration and manufacturing, then move towards making critical parts in Pakistan.]]>
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			<title>Evergrande founder given life sentence</title>
			<link>https://tribune.com.pk/story/2624987/evergrande-founder-given-life-sentence</link>
			<comments>https://tribune.com.pk/story/2624987/evergrande-founder-given-life-sentence#comments</comments>
			<pubDate>Fri, 21 Aug 26 05:33:20 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Sentence in the southern city of Shenzhen included confiscating all of Hui's personal property]]>
			</description>
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				<![CDATA[The founder of China Evergrande Group, the world&#39;s most-indebted property developer, was sentenced to life in prison by a Chinese court on Thursday, five years after the firm&#39;s collapse shook the nation&#39;s economy and financial markets.

Hui Ka Yan, once Asia&#39;s richest man, pleaded guilty in April to eight charges, including misuse of funds, fundraising fraud, illegally taking public deposits, illegally extending loans, fraudulently issuing securities and bribery. Evergrande, once China&#39;s premier developer, has defaulted on most of its $300 billion in liabilities, its troubles symbolising a crisis in the property sector that has long dragged on the world&#39;s second-biggest economy.

The sentence in the southern city of Shenzhen included confiscating all of Hui&#39;s personal property.]]>
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			<title>US war tensions weigh on Gulf stocks</title>
			<link>https://tribune.com.pk/story/2624674/us-war-tensions-weigh-on-gulf-stocks</link>
			<comments>https://tribune.com.pk/story/2624674/us-war-tensions-weigh-on-gulf-stocks#comments</comments>
			<pubDate>Wed, 19 Aug 26 00:34:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2624674</guid>
			<description>
				<![CDATA[Qatar's benchmark index fell 0.5%]]>
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				<![CDATA[Most Gulf stock markets closed subdued on Tuesday as investors remained cautious after the US ruled out extending a temporary ceasefire agreement and an Iranian official said Tehran would shift to a &quot;fully offensive&quot; military posture.

Qatar&#39;s benchmark index fell 0.5%, extending losses for a second consecutive session to close at 9,848 points, its lowest level in more than a year.

Qatar National Bank, the region&#39;s largest lender, declined 0.7%, while telecommunications operator Ooredoo dropped 1.5%.

Saudi Arabia&#39;s benchmark index ended flat, as gains in materials, energy and healthcare stocks offset declines elsewhere. Saudi National Bank, the kingdom&#39;s largest lender by assets, slipped 0.5%, while Jarir Marketing fell 4.3%. SABIC Agri-Nutrients Co gained 2.4%, while Saudi Arabian Mining Co rose 1.9% after the companies signed a memorandum of understanding to explore opportunities across the fertilisers and integrated agri-nutrients value chain. Dubai&#39;s benchmark index was little changed, with losses in communications, utilities and industrial shares offset by gains in other sectors.]]>
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			<title>Leghari launches innovation programme</title>
			<link>https://tribune.com.pk/story/2623776/leghari-launches-innovation-programme</link>
			<comments>https://tribune.com.pk/story/2623776/leghari-launches-innovation-programme#comments</comments>
			<pubDate>Thu, 13 Aug 26 20:35:49 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2623776</guid>
			<description>
				<![CDATA[Leghari invited young Pakistanis to submit their ideas through the Innovation Hub digital platform]]>
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				<![CDATA[The Ministry of Energy (Power Division) has officially launched Pakistan&#39;s first National Power Sector Innovation Programme, with Innovation Hub serving as the programme&#39;s dedicated digital platform, an official statement said on Thursday.

The programme aims to identify, evaluate, mentor and support promising ideas, transforming innovative concepts into tested, scalable solutions for a more efficient, reliable and sustainable power sector. More than Rs1 billion will be allocated over the next three years for mentorship, technical assistance, pilot implementation and scaling of successful innovations.

Federal Minister for Energy (Power Division) Sardar Awais Ahmad Khan Leghari said the power sector needed greater innovation, creative thinking and continuous improvement.

&quot;The National Power Sector Innovation Programme is not merely a competition; it is the first national institutional framework of its kind for the power sector,&quot; he said.

Leghari invited young Pakistanis to submit their ideas through the Innovation Hub digital platform, adding that aspiring innovators, students, researchers and startups could become part of a national effort to shape the future of energy.]]>
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			<title>OPEC, IEA diverge on oil demand</title>
			<link>https://tribune.com.pk/story/2623569/opec-iea-diverge-on-oil-demand</link>
			<comments>https://tribune.com.pk/story/2623569/opec-iea-diverge-on-oil-demand#comments</comments>
			<pubDate>Wed, 12 Aug 26 21:07:49 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2623569</guid>
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				<![CDATA[OPEC also raised its forecast for 2027 oil demand growth]]>
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				<![CDATA[OPEC on Wednesday lowered its forecast for world oil demand growth in 2026 to 580,000 barrels per day, a copy of its monthly report showed, marking the fourth straight downward revision.

The producer group continues to see a smaller impact on consumption since the Iran war started than other forecasters such as the International Energy Agency, which expects demand to decline in 2026. OPEC also raised its forecast for 2027 oil demand growth. Global oil supply will fall by 4.3 million barrels per day, or around 4%, this year, the International Energy Agency said on Wednesday, as renewed hostilities in the Middle East disrupt supplies.]]>
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			<title>Exxon, Chevron warn of continued high fuel prices</title>
			<link>https://tribune.com.pk/story/2621606/exxon-chevron-warn-of-continued-high-fuel-prices</link>
			<comments>https://tribune.com.pk/story/2621606/exxon-chevron-warn-of-continued-high-fuel-prices#comments</comments>
			<pubDate>Sat, 01 Aug 26 23:33:26 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2621606</guid>
			<description>
				<![CDATA[Exxon CEO says due to war on 
Iran refining challenges will remain for a while]]>
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				<![CDATA[Top US oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.

Both companies reported large jumps in second-quarter refining profits on Friday as declining fuel stockpiles combined with curtailed exports from China and refinery outages in Russia led to higher margins.

&quot;We&#39;re going to see some upward pressure on product pricing ... into the third quarter and perhaps beyond that,&quot; Chevron CEO Mike Wirth said during an earnings call, adding that demand for distillates including diesel and heating oil is unlikely to decline over the long term.

The rising margins and subsequent profits are occurring as US gasoline prices crossed $4 a gallon again last week, presenting a political challenge for President Donald Trump and the Republican Party that will be campaigning to hold onto majorities in Congress in the November midterm elections. The biggest US oil majors say they are doing everything they can to keep output high.

High production

Exxon said it ran its US refineries at high capacity and had a record second quarter for diesel production, while Chevron said it had record throughput at its US refineries of more than 1 million barrels per day.

Still, Exxon CEO Darren Woods said it is critical that shipping resumes through the Strait of Hormuz to supply more crude to the market. &quot;The utilisation that we&#39;ve seen can&#39;t be sustained for the long term. So, I think this refining challenge is going to be with the world for a while,&quot; he said on CNBC.

Woods added that the company has the largest refining footprint in the world outside of China, and the disruption to crude supplies added difficulties to the downstream business.

Refiners must complete necessary maintenance, and Chevron said downtime in the third quarter was expected to hit downstream earnings by $175 million to $225 million.

Exxon said scheduled maintenance would be lower during the third quarter compared with the previous three months.While Exxon&#39;s adjusted downstream earnings rose to $4.1 billion, some investors may have expected Exxon to report even stronger refining results given its large refinery footprint, RBC Capital Markets analyst Biraj Borkhataria said in a research note.

Exxon narrowly missed consensus estimates for second-quarter earnings, while Chevron surpassed expectations. Exxon shares were down 1%, while Chevron was up about 2%.]]>
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			<title>Apple set to lose nearly $500b in value</title>
			<link>https://tribune.com.pk/story/2621402/apple-set-to-lose-nearly-500b-in-value</link>
			<comments>https://tribune.com.pk/story/2621402/apple-set-to-lose-nearly-500b-in-value#comments</comments>
			<pubDate>Fri, 31 Jul 26 21:21:53 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2621402</guid>
			<description>
				<![CDATA[Big Tech has been scooping up advanced chip-making capacity and memory chips to power its AI data centres]]>
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				<![CDATA[Apple shares fell nearly 10% on Friday after a disappointing forecast showed that the iPhone maker was struggling to secure enough components as the AI-driven data centre boom strains global supply chains.

The drop, if sustained, would mark the stock&#39;s worst day since the pandemic-driven sell-off in March 2020. It would erase nearly $500 billion from Apple&#39;s market capitalisation and return the crown of the world&#39;s most valuable company to AI chip giant Nvidia, days after reclaiming it.

Tim Cook, widely hailed as a supply-chain genius, called the shortages &quot;very significant&quot; and said Apple had limited options to address them, speaking on his final earnings call as CEO before handing the reins to John Ternus in September and becoming executive chairman.

&quot;If even at Apple&#39;s scale they are saying they are out all supply chain flexibility, it&#39;s really bad for everyone,&quot; said Ben Bajarin, CEO of tech consultant Creative Strategies.

Big Tech has been scooping up advanced chip-making capacity and memory chips to power its AI data centres, sparking shortages and price increases that are expected to shrink both the personal computer and smartphone markets this year.

Apple had cushioned some of the blow from surging memory costs by drawing on stockpiled inventory, but Cook said that the buffer was fading and shortages of processors were keeping it from meeting strong demand for iPhones and Macs.

Its forecast on Thursday for revenue growth of between 9% and 11% in the current quarter fell short of Wall Street&#39;s roughly 12% estimate, and softer growth in its services business also overshadowed otherwise strong June-quarter results.]]>
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			<title>PPL makes 4th hydrocarbon find in Shah Bandar</title>
			<link>https://tribune.com.pk/story/2621284/ppl-makes-4th-hydrocarbon-find-in-shah-bandar</link>
			<comments>https://tribune.com.pk/story/2621284/ppl-makes-4th-hydrocarbon-find-in-shah-bandar#comments</comments>
			<pubDate>Fri, 31 Jul 26 01:33:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2621284</guid>
			<description>
				<![CDATA[Drilling at the Rahi X-1 well started on June 17, 2026]]>
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				<![CDATA[Pakistan Petroleum Limited (PPL), the operator of Shah Bandar exploration licence, has made a gas and condensate discovery at exploratory well Rahi X-1, located in Sujawal district of Sindh province.

&quot;This is the fourth consecutive discovery at the Shah Bandar Block by PPL as an operator with 63% working interest along with its joint-venture partners Mari Energies having 32% working interest, Sindh Energy Holding Company and Government Holdings Private Limited with 2.5% interest each,&quot; said PPL in a notification posted on the Pakistan Stock Exchange website.

According to the company, drilling at the Rahi X-1 well started on June 17, 2026, and it reached the maximum depth of 2,612 metres with the primary objective to test the hydrocarbon potential of the Upper Sand of Lower Goru Formation. Based on the drilling results, a hydrocarbon-bearing zone was identified, which was examined through the cased-hole drill stem test (DST).

During testing, the well flowed at the rate of 0.493 million standard cubic feet per day (mmscfd) of gas and 12 barrels per day (bpd) of condensate against wellhead flow pressure of 133 pounds per square inch.]]>
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			<title>FBATI chief says technology, innovation key to trade future</title>
			<link>https://tribune.com.pk/story/2621041/fbati-chief-says-technology-innovation-key-to-trade-future</link>
			<comments>https://tribune.com.pk/story/2621041/fbati-chief-says-technology-innovation-key-to-trade-future#comments</comments>
			<pubDate>Thu, 30 Jul 26 01:49:50 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2621041</guid>
			<description>
				<![CDATA[Tahseen said sustained competitiveness in the global market is the true guarantee of success]]>
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				<![CDATA[Pakistan needs to focus not only on exports but also on global competitiveness trends, said Federal B Area Association of Trade and Industry (FBATI) President Sheikh Tahseen.

Tahseen said sustained competitiveness in the global market is the true guarantee of success. He emphasised that Pakistan must move towards technology, innovation and value-added exports, as global trade demands a modern export strategy.

&quot;Increasing exports will not come merely from exploring new markets but from meeting international standards,&quot; he said. Investment in technology and innovation is essential to maintain a position in the global market, he added, noting that the future of trade revolves around artificial intelligence and the digital economy. Pakistan possesses strong potential, a young workforce and an industrial base. Tahseen stressed that the country must prepare itself in line with future trade requirements.]]>
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			<title>Second Gwadar bunkering goes operational</title>
			<link>https://tribune.com.pk/story/2620846/second-gwadar-bunkering-goes-operational</link>
			<comments>https://tribune.com.pk/story/2620846/second-gwadar-bunkering-goes-operational#comments</comments>
			<pubDate>Tue, 28 Jul 26 23:25:04 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2620846</guid>
			<description>
				<![CDATA[Port extends VLSFO 
network as marine fuel services expand]]>
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				<![CDATA[Pakistan has successfully completed the second marine bunkering operation at Gwadar Port, reinforcing the port&#39;s emergence as a new marine fuel supply destination for international shipping.

The operation was carried out by Vitol through its bunker barge Marine Ista, supplying IMO-compliant Very Low Sulphur Fuel Oil (VLSFO) produced by Cnergyico PK Limited to an LNG carrier.

The successful completion, just days after the inaugural operation, demonstrates that marine bunkering at Gwadar has transitioned from a landmark achievement to an operational capability.

Last week, Pakistan completed its first-ever marine bunkering at Gwadar, extending services from Karachi and Port Qasim and establishing a bunkering network across the country&#39;s three major commercial ports.

The latest operation strengthens Gwadar&#39;s position as a strategic maritime gateway and enhances Pakistan&#39;s ability to offer internationally compliant marine fuel services. Industry stakeholders believe the development will improve the port&#39;s commercial attractiveness and support the country&#39;s long-term objective of expanding maritime trade and logistics services.

Vitol Bunkers and Cnergyico acknowledged the support of the Ministry of Maritime Affairs, the National Logistics Corporation (NLC), the Gwadar Port Authority, the Federal Board of Revenue (FBR), Pakistan Customs and other government stakeholders for their facilitation.]]>
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