Breaking News Archives - Page 12 of 21

Daraz Pakistan’s 7.7 Super Savings Sale Brings More Value to Every Cart

Press Release / July 6, 2026

Karachi, 2026: From upgrading a phone or home appliance to refreshing wardrobes, restocking household essentials or grabbing beauty and lifestyle favourites, Daraz Pakistan’s 7.7 Super Savings Sale is giving shoppers more reasons to fill their carts this July. Going live from 6 July (8 PM onwards) until 17 July, the campaign brings together exclusive vouchers, Free Delivery, brand deals, bank and wallet discounts, games, rewards and high-value giveaways under the promise “Real Savings Start Here.” The sale is built around the way customers shop every day, with deals across electronics, fashion, health and beauty, lifestyle, home, appliances, groceries and everyday essentials. Whether shoppers are looking for planned purchases or impulse buys, 7.7 is designed to help them stretch their budgets further across the categories they need most. This year’s campaign will feature offers from some of the country’s most loved and trusted brands, including Samsung, Dawlance, Haier, Pepsi, Reckitt Dettol, PediaSure, TCL, Tecno, Infinix, Zero Lifestyle, Audionic, Unilever, Colgate-Palmolive, Zero Healthcare Pakistan, Enviro Pakistan, Jenpharm, Coca-Cola, Saeed Ghani, Rivaj, L’Oréal, TUX, Sensodyne, Junaid Jamshed and Diamond Foam. Customers can unlock major savings throughout the campaign, including an extra 14% off up to PKR 10,000 during Prime Rush Hour, an extra 12% off up to PKR 10,000 during Daily Flash from 7 PM to 11 PM from 7 July to 9 July, and overall savings of up to PKR 6,200 on orders above PKR 60,000. Additional category vouchers will also be available, including 12% off on Fashion, 10% off on Health & Beauty and Lifestyle, and 4% off on Large Appliances. For shoppers waiting for the right moment to buy from their favourite brands, Brand Rush Hour will be one of the biggest highlights of the sale. The first rush will run from 6 July, 8 PM to 2 AM, featuring offers from leading brands including Junaid Jamshed, Sana Safinaz, ECS, Jenpharm, Herbiotics Health Care, Rivaj and EZVIZ Pakistan. Customers can look forward to flat 30% to 60% off, along with additional bank discounts during Brand Rush Hour. Digital payments will add another layer of savings for customers, with bank and payment partner discounts going up to 30% during the campaign. Participating partners include UnionPay, JazzCash, JS Bank, AlBaraka, HBL, Allied Bank, Soneri Bank, Meezan Bank, Askari Bank, Standard Chartered Bank and MCB. The 7.7 campaign will also give customers more chances to win while they shop. Through Shop & Win, shoppers purchasing from selected brands will get a chance to win 20+ gifts worth PKR 2 lakh, including gold coins, furniture, gift baskets and more, powered by partners including Lipton, Nexton and Furniture Multiverse. Customers can also play the Coins Treasure Chest daily for a chance to win from 50+ gifts, including a ZTR treadmill, AirPods, hairdryer and more from partners such as AHQ Interior, Zero Healthcare, SNK Fitness and Mister Traders. Through Daraz Freebies, shoppers will also get a chance to win big-ticket rewards including a Samsung S26 Ultra, iPhone 17, air conditioner, LED TV and more. Speaking about the campaign, a Daraz Pakistan spokesperson said: “7.7 brings together the thrill of a big sale with the value customers expect from Daraz. Shoppers will find savings across their favourite categories, from daily essentials and fashion to electronics, beauty and appliances, along with vouchers, bank offers, free delivery and exciting giveaways. Our focus is simple: to make every purchase feel smarter, more rewarding and worth coming back for.” With deals going live from 6 July (8 PM onwards), customers can access the Daraz 7.7 Super Savings Sale through the Daraz app and website. About Daraz Group Daraz is the leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, and Nepal. It empowers sellers and consumers with cutting-edge marketplace technology, targeting a rapidly growing region of 500 million people. By building an integrated infrastructure covering e-commerce, logistics, payment and financial services, the company aims to deliver an immersive, personalized shopping experience and uplift South Asian communities through the power of commerce.For more information, please visit www.daraz.com or follow Daraz on LinkedIn for regular corporate updates. Media Contactambar.ahmed@daraz.pk

Breaking News

FIFA World Cup 2026: Norway Stuns Brazil in Historic Upset to Reach Quarter-Finals

Web Desk / July 6, 2026

The FIFA World Cup 2026 produced one of the biggest surprises in tournament history as Norway stunned five-time champions Brazil with a dramatic 2-1 victory in the Round of 16. The remarkable result ended Brazil’s World Cup campaign far earlier than expected while sending Norway into the quarter-finals for the first time in the nation’s history. With Brazil widely tipped to advance comfortably, Norway delivered a disciplined defensive display and clinical finishing to secure one of the most memorable victories in World Cup history. Fast-Paced Start in New York The match in New York burst into life almost immediately. Norway thought it had taken the lead in the fourth minute when Erling Haaland found the net, but the goal was ruled out for offside after the referee’s decision. Brazil was then handed a golden opportunity when it was awarded a penalty following a foul inside the box. Midfielder Bruno Guimarães stepped up to take the spot kick, but Norway’s goalkeeper produced an outstanding save to deny Brazil an early advantage. The missed penalty proved to be one of the game’s defining moments. Norway’s Defense Keeps Brazil at Bay Brazil controlled possession for much of the first half and repeatedly tested Norway’s defense. However, Norway remained compact, organized, and dangerous on the counterattack, frustrating the tournament favorites throughout the opening 45 minutes. Despite Brazil’s pressure, both teams went into halftime with the score locked at 0-0, while Norway’s confidence continued to grow. Erling Haaland Inspires Norway to Victory The breakthrough finally came in the 79th minute. Erling Haaland rose above Brazil’s defenders to head home a perfectly delivered cross, giving Norway a deserved 1-0 lead. As Brazil pushed more players forward in search of an equalizer, gaps began to appear at the back. Only a few minutes later, Haaland struck again. Receiving the ball outside the penalty area, the Norwegian captain unleashed a spectacular long-range effort that beat the Brazilian goalkeeper to double Norway’s lead to 2-0. The stunning goal left Brazil facing one of the biggest shocks in its World Cup history. Neymar Scores Late Consolation Goal Deep into stoppage time, Brazil received another penalty after a foul inside Norway’s penalty area. Substitute Neymar converted from the spot to reduce the deficit to 2-1, briefly raising hopes of an unlikely comeback. Tensions rose after the goal as Neymar became involved in a heated exchange with Norway’s goalkeeper before play resumed. Moments later, the referee blew the final whistle, confirming Norway’s famous victory. Norway Reaches Quarter-Finals for the First Time The win marks the greatest achievement in Norwegian football history, with the national team reaching the FIFA World Cup quarter-finals for the first time. Norway’s disciplined defending, tactical organization, and clinical finishing proved decisive against one of football’s most successful nations. Haaland’s two-goal performance further strengthened his reputation as one of the world’s elite strikers on the biggest stage. For Brazil, another disappointing World Cup exit is expected to trigger serious questions despite entering the tournament as one of the favorites. England Awaits in Quarter-Finals Norway will now face England in the quarter-finals as it looks to continue its remarkable run in the FIFA World Cup 2026. With confidence soaring after eliminating Brazil, Norway has emerged as one of the tournament’s surprise contenders. The FIFA World Cup 2026 has once again demonstrated why it remains football’s biggest stage, where determination, tactical discipline, and belief can overcome even the most decorated teams. For Brazil, the defeat represents another painful setback in its pursuit of a sixth World Cup title. For Norway, meanwhile, the unforgettable victory could mark the beginning of an extraordinary World Cup journey.

Breaking News

Petrol Price in Pakistan Reduced by Rs1.97 Per Litre as Govt Lowers Fuel Rates

Web Desk / July 4, 2026

The federal government has announced a reduction in the Petrol Price in Pakistan, lowering the prices of both Motor Spirit (MS) and High-Speed Diesel (HSD) by Rs1.97 per litre. The revised prices came into effect on July 4, 2026, providing some relief to consumers after fuel prices remained unchanged in the previous fortnight. The latest revision follows a decline in international oil prices, supported by easing geopolitical tensions in the Middle East. Although the reduction is modest, it is expected to benefit motorists, transport operators, businesses, and industries that rely heavily on petroleum products. Government Announces New Petrol and Diesel Prices According to a press release issued by the Ministry of Energy’s Petroleum Division, the ex-depot price of Motor Spirit (MS) has been reduced from Rs299.50 per litre to Rs297.53 per litre. Similarly, the ex-depot price of High-Speed Diesel (HSD) has been cut from Rs311.47 per litre to Rs309.50 per litre. The revised prices became effective from July 4, 2026, and will remain applicable until the government’s next fortnightly fuel price review. The government periodically revises petroleum prices based on international oil market trends, exchange rate movements, import costs, and applicable taxes and petroleum levies. Revised Fuel Prices Petroleum Product Previous Price New Price Reduction Motor Spirit (Petrol) Rs299.50/litre Rs297.53/litre Rs1.97 High-Speed Diesel Rs311.47/litre Rs309.50/litre Rs1.97 Relief for Consumers After Prices Remained Unchanged The latest reduction comes after the government maintained fuel prices during the previous fortnightly review. At that time, petrol remained at Rs299.50 per litre, while High-Speed Diesel stayed at Rs311.47 per litre, despite expectations that prices might decline. With the latest announcement, consumers will now receive a modest reduction at fuel stations nationwide. While the decrease may not substantially reduce household expenses, it offers some relief amid persistent inflation and elevated transportation costs. Why Have Fuel Prices Been Reduced? The reduction in the Petrol Price in Pakistan follows a decline in international crude oil prices over recent weeks. Global energy markets experienced significant volatility during the Iran-Israel conflict, raising concerns over potential supply disruptions through the Strait of Hormuz. Those concerns temporarily pushed crude oil prices higher. However, easing geopolitical tensions have reduced fears of supply disruptions, allowing international benchmark crude prices to retreat from recent highs. The decline in global oil prices has enabled the government to pass on part of the benefit to Pakistani consumers through lower petroleum prices. Impact on Transportation and Businesses Petrol is primarily used by motorcycles, passenger vehicles, ride-hailing services, and private transport. Lower petrol prices can help reduce commuting costs for millions of consumers. High-Speed Diesel remains critical for Pakistan’s economy, as it powers heavy transport vehicles, buses, trucks, railway operations, agricultural machinery, and various industrial sectors. Lower diesel prices can reduce transportation and logistics costs, which may gradually ease inflationary pressures if freight charges and supply chain expenses decline. However, economists note that the overall impact on inflation will depend on global oil prices, exchange rate movements, taxation policies, and domestic market conditions. Fuel Prices Continue to Depend on Global Markets Pakistan imports a significant portion of its petroleum requirements, making domestic fuel prices highly sensitive to developments in international energy markets. Besides global crude oil prices, the government also considers import premiums, freight charges, the rupee-dollar exchange rate, petroleum development levy, customs duties, and other applicable taxes before revising fuel prices. As a result, domestic petroleum prices may increase or decrease even when international crude oil prices experience only modest changes. Next Price Review Energy analysts believe future fuel prices will largely depend on developments in global oil markets over the coming weeks. If geopolitical tensions remain contained and international crude prices continue to soften, consumers could see further reductions during the next fortnightly review. However, any renewed disruption in oil-producing regions, shipping routes, or global supply chains could place upward pressure on international crude prices, limiting the government’s ability to reduce petroleum prices further. For now, motorists and businesses will benefit from the latest Rs1.97 per litre reduction in both petrol and diesel prices, effective nationwide from July 4, 2026.

Breaking News, Pakistan

PM Shehbaz Sharif, Army Chief Arrives in Tehran for Late Iranian Supreme Leader’s Funeral

Web Desk / July 3, 2026

Prime Minister Shehbaz Sharif landed in Tehran on Friday for a one-day visit to attend the funeral of Iran’s late Supreme Leader Ayatollah Seyyed Ali Khamenei. He is leading a high-level Pakistani delegation.Chief of Army Staff Field Marshal Syed Asim Munir has also arrived in Tehran to attend the funeral of Iran’s late Supreme Leader Ayatollah Ali Khamenei, highlighting strong military and bilateral relations between Pakistan and Iran. Strong Bilateral Solidarity Pakistan’s High-Level Representation The prime minister was accompanied by National Assembly Speaker Sardar Ayaz Sadiq, Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar, Minister for Information Attaullah Tarar, PPP Chairman Bilawal Bhutto Zardari, PPP Secretary General Nayyar Hussain Bukhari, Sindh Chief Minister Syed Murad Ali Shah, and several parliamentarians. Upon arrival at Tehran’s Mehrabad International Airport, PM Shehbaz was received by Iranian Interior Minister Eskandar Momeni, Pakistan’s Ambassador Imran Ahmed Siddiqui, and senior officials from both sides. During his brief stay, the prime minister will participate in the last rites and extend condolences on behalf of the Pakistani government and people. This gesture underscores Islamabad’s deep solidarity with its neighbour during this time of mourning. Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir had already reached Tehran to attend the funeral ceremonies. Delegations from nearly 100 countries, including heads of state, civil society groups, and public figures, are participating in the state funeral. The visit reflects Pakistan’s consistent policy of maintaining close ties with Iran. Both nations share historical, cultural, and geographical bonds that remain vital for regional stability. After concluding engagements in Tehran, PM Shehbaz will travel to Istanbul on a bilateral visit to Türkiye at the invitation of President Recep Tayyip Erdogan. In Istanbul, he will hold high-level meetings with Turkish leadership and address a business conference. The event will highlight investment opportunities in Pakistan’s Special Economic Zones, energy, IT, trade, and privatisation sectors. This dual visit comes at a critical time for Pakistan’s foreign policy and economic diplomacy. Strengthening relations with key neighbours and partners remains central to addressing security and economic challenges. Iran’s loss of its long-serving Supreme Leader has drawn global attention. Pakistan’s prominent participation signals strong fraternal ties and shared commitment to mutual support. Observers see the trip as an opportunity to discuss bilateral issues, including trade, energy cooperation, and border security. Enhanced connectivity could benefit both economies in the coming years. PM Shehbaz’s itinerary blends solemn diplomatic duties with forward-looking economic outreach. It demonstrates Pakistan’s proactive engagement on multiple fronts.

Breaking News, Pakistan

Children Are Adopting AI Technologies More Than Three Times Faster Than Adults, UNICEF Warns

Web Desk / July 3, 2026

Artificial Intelligence (AI) is rapidly becoming a part of children’s daily lives, creating new opportunities for learning and creativity while raising serious concerns about safety, privacy, and online protection, according to UNICEF. In a statement released ahead of the first Global Dialogue on AI Governance, UNICEF said AI is already transforming childhood worldwide, with new evidence revealing both the scale of children’s adoption of the technology and the growing risks associated with its use. Millions of Children Are Already Using AI Drawing on new data from 10 countries, UNICEF estimates that at least 20 million children have used Artificial Intelligence, with young people adopting the technology at rates more than three times faster than adults. The findings show that AI is increasingly becoming part of children’s everyday activities. According to the analysis: UNICEF said the rapid adoption of AI highlights both its educational potential and the urgent need for stronger safeguards. AI Governance Is Struggling to Keep Pace UNICEF warned that while children’s use of AI continues to grow rapidly, the legal and regulatory frameworks governing AI have failed to keep pace. The organization said children are increasingly exposed to AI systems, including how they are designed, the business models behind them, and how their personal data is collected and used. Despite being among the most affected users, children have limited ability to understand, avoid, or challenge these systems. UNICEF stressed that most current AI governance frameworks do not adequately prioritize children’s rights or protection. Opportunities Come With Emerging Risks While AI offers significant opportunities for education, creativity, and entertainment, UNICEF cautioned that evidence regarding its long-term effects on children’s cognitive development, emotional well-being, and exposure to harmful content is still emerging. The organization described the current situation as one in which an entire generation is effectively “growing up inside a global experiment.” UNICEF emphasized that more research is needed to fully understand AI’s impact on child development. Children Express Growing Concerns About AI The report also found that children themselves recognize many of the risks associated with Artificial Intelligence. Among respondents across the 10 countries: UNICEF warned that too many AI systems remain accessible to children without adequate safety measures or built-in protections. UNICEF Calls for Child-Centered AI Governance Ahead of the Global Dialogue on AI Governance, UNICEF has urged governments, technology companies, and international partners to place children’s rights at the center of AI regulation and development. The organization called for: A Critical Moment for the Future of AI UNICEF concluded that decisions being made today regarding Artificial Intelligence will have lasting consequences for children’s safety, privacy, education, and equal access to opportunities. The organization emphasized that embedding child rights into global AI governance is essential to ensuring future generations can safely benefit from technological innovation while minimizing potential harm.

Breaking News, Business

Pakistan Stock Exchange Rally Smashes Records as Banking Stocks Trigger Massive 3,748-Point Surge

Web Desk / July 1, 2026

Pakistan Stock Exchange Rally Extends Record-Breaking Momentum The Pakistan Stock Exchange Rally gathered extraordinary momentum on Wednesday as investors poured billions into heavyweight banking shares, propelling the benchmark KSE-100 Index to another historic closing high. The market delivered one of its strongest sessions of the year, reflecting growing confidence in Pakistan’s improving economic outlook and expectations of stronger corporate earnings. The benchmark KSE-100 Index settled at 184,050.10, gaining an impressive 3,748.40 points or 2.08 percent from the previous session. Throughout the trading day, bullish sentiment dominated the market. The index touched an intraday high of 184,233.57, representing a remarkable gain of nearly 3,932 points, while even its lowest level remained above the previous day’s closing mark. The powerful rally reinforced investor belief that Pakistan’s equity market is entering another phase of sustained growth backed by improving macroeconomic indicators and renewed institutional confidence. Banking Sector Becomes the Engine of the Pakistan Stock Exchange Rally Commercial banks emerged as the undisputed driving force behind Wednesday’s historic advance. Institutional investors aggressively accumulated banking shares amid expectations of robust profitability, attractive valuations and continued foreign investor participation. Leading banking stocks produced exceptional gains throughout the session. Bank Alfalah (BAFL) advanced 8.35 percent, while United Bank Limited (UBL) and Meezan Bank (MEBL) each climbed 7.16 percent. Their sharp rise reflected strong investor expectations that the banking sector will continue to benefit from improving economic activity and resilient financial performance. The banking sector alone contributed nearly 2,990 index points, making it the single largest contributor to the market’s record-breaking performance. Other sectors adding substantial support included technology and communication, investment companies, cement manufacturers and automobile assemblers. Investor Confidence Reaches New Highs The latest Pakistan Stock Exchange Rally highlights a significant shift in investor sentiment. Market participants are increasingly optimistic that easing macroeconomic risks, improving fiscal stability and stronger corporate earnings will continue supporting higher equity valuations. Heavy institutional buying was visible across multiple sectors, while foreign interest and domestic participation also remained strong. The broad-based nature of the rally indicates that investors are looking beyond short-term gains and positioning themselves for long-term growth opportunities within Pakistan’s capital markets. Market Breadth Shows Widespread Buying Across PSX Wednesday’s rally was not limited to a handful of stocks. Market participation strengthened considerably as buyers dominated trading across most listed companies. Among KSE-100 constituents, 67 companies closed higher, while 33 stocks ended in negative territory, reflecting broad-based investor participation. The day’s biggest winners included Pakistan Telecommunication Company Limited (PTC), which surged 10 percent, followed by HGFA with a 9.83 percent gain. Pakistan Qatar Insurance climbed 9.17 percent, while major banking shares continued attracting aggressive buying. Some profit-taking emerged in selected sectors. Pakistan Stock Exchange Limited declined 3.48 percent, Thal Limited lost 3.13 percent, Kohat Cement dropped 2.72 percent, Fatima Fertilizer slipped 2.53 percent, and K-Electric eased 2.46 percent. However, these declines had only a limited impact on the broader market’s upward trajectory. Pakistan Stock Exchange Rally Driven by Heavyweight Stocks Several blue-chip companies played decisive roles in lifting the benchmark index. United Bank Limited contributed nearly 983 index points, making it the single largest contributor to Wednesday’s advance. Meezan Bank followed with more than 582 points, while Habib Bank Limited, MCB Bank and Bank AL Habib collectively added hundreds of additional points to the benchmark. Although a few companies including Fatima Fertilizer, Fauji Fertilizer Company, Pakistan Stock Exchange Limited, Kohat Cement and Thal Limited weighed on the index, their negative contribution was overshadowed by the overwhelming strength of banking shares. Trading Activity Reflects Growing Market Participation The Pakistan Stock Exchange Rally was accompanied by a significant increase in trading activity, indicating rising investor participation. The KSE-100 Index recorded a trading volume of 472.43 million shares, while activity across the broader market expanded sharply. Total traded volume increased from 703.69 million shares in the previous session to 941.48 million shares, reflecting stronger buying interest. Similarly, total traded value jumped by Rs18.28 billion, reaching Rs57.09 billion. During the session, investors executed 505,560 trades across 490 listed companies. Out of these, 297 stocks closed higher, 171 declined, while 22 remained unchanged, confirming the widespread strength of the market. Among the most actively traded stocks by volume were K-Electric, Bank of Punjab, Pakistan Telecommunication Company Limited, PIA Holding Company, Pakistan Qatar Insurance, WorldCall Telecom, Hascol Petroleum, Askari Bank, Pakistan International Bulk Terminal, and Maple Leaf Cement Factory. The high trading volumes indicate sustained liquidity and strong investor engagement across multiple sectors rather than concentration in only a few stocks. Pakistan Stock Exchange Rally Extends Fiscal and Calendar Year Gains The latest surge has significantly strengthened the market’s overall performance for both the fiscal and calendar years. The benchmark KSE-100 Index has now gained 3,748 points, or 2.08 percent, during the current fiscal year. On a calendar-year basis, the index has advanced 9,996 points, representing an impressive gain of 5.74 percent. These gains underline growing investor confidence that Pakistan’s improving macroeconomic environment, easing financial risks and stronger corporate fundamentals could continue supporting higher equity prices in the months ahead. With banking stocks leading the charge and institutional investors maintaining aggressive buying momentum, the Pakistan Stock Exchange appears firmly positioned to remain one of the region’s strongest-performing frontier markets. The coming sessions will determine whether this historic rally has enough strength to carry the KSE-100 Index toward yet another record-breaking milestone.

Breaking News

SBP Unveils New Official Website Effective July 1, 2026

Web Desk / July 1, 2026

The State Bank of Pakistan (SBP) is pleased to announce the launch of its redesigned official website, which will go live on Wednesday, July 1, 2026, and will be accessible to all stakeholders at www.sbp.org.pk. Read More: https://theboardroompk.com/ogdc-completes-chak-63-05-development-well-in-sanghar-sindh/ The revamped website will provide a faster, easier and user-friendly digital experience for citizens, businesses, financial institutions, researchers, journalists and other stakeholders. Designed as a modern, secure and inclusive digital platform, the new website will provide easier access to SBP’s information. Its launch marks an important milestone in SBP’s digital transformation agenda and reflects continued commitment to transparency, innovation and meaningful stakeholder engagement. Modern Interface and Improved Accessibility Developed following extensive research and stakeholder consultations, the website has been comprehensively redesigned to better serve the diverse needs of its users. It features an intuitive interface with simplified navigation, enabling visitors to find information more quickly and efficiently. Enhanced search functionality and filtering options make it easier to locate data, circulars, regulations, publications, press releases and other official content. The website shall be fully responsive across desktops, smartphones and other devices, ensuring a seamless browsing experience. Bilingual Platform to Improve Public Access To promote greater inclusivity and wider public outreach, the website offers a bilingual interface in English and Urdu, allowing users to switch between languages according to their preference. It has also been developed in accordance with the Web Content Accessibility Guidelines (WCAG) and incorporates accessibility features that improve usability for persons with disabilities. Behind the improved user experience is a reorganized information architecture that presents key areas such as monetary policy, financial markets data, banking regulations and other SBP functions in a more logical and intuitive manner, while preserving access to legacy content. Supporting Digital Transformation and Financial Inclusion The revamped website strengthens SBP’s ability to communicate effectively with the public and supports the Bank’s broader vision of leveraging technology to deliver efficient, transparent and citizen-centric services. By making reliable information and digital resources more readily available, the website shall augment financial literacy and inclusion, while contributing to informed decision-making and stronger engagement with the financial system among all stakeholders. The new website will provide all institutional information, publications, and resources in an enhanced and user-friendly interface. However, to facilitate stakeholders who wish to reference the earlier interface, the previous version of the website will remain available through a dedicated link on the homepage until July 15, 2026.

Breaking News, Pakistan

SBP Forex Reserves Fall $1.305bn Due to External Debt Repayments

Web Desk / June 30, 2026

The foreign exchange reserves held by the State Bank of Pakistan fell by $1.305 billion during the week ended June 19, 2026. The central bank attributed this decline mainly to external debt repayments. Read More: https://theboardroompk.com/attack-on-rangers-a-cowardly-act-security-forces-swift-response-commendable-business-community/ Details of the Reserve Position The SBP’s foreign exchange reserves stood at $15.916 billion as of June 19. This was a decrease from $17.221 billion a week earlier. The total liquid foreign reserves of the country were $21.484 billion on the same date. Commercial banks held $5.568 billion in net foreign reserves. Inflows and Future Projections The central bank highlighted that inflows would soon increase the reserves. These include a $0.7 billion inflow from multilateral institutions to the government. Refinancing of government commercial loans is expected to add about $1.7 billion. The total $2.4 billion will be reflected in SBP reserves as on June 30. The SBP has projected its foreign exchange reserves to reach approximately $18 billion by the end of FY26. This outlook is based on the expected inflows and reserve management. Weekly fluctuations in reserves often occur due to debt servicing and other flows. The recent drop is linked directly to external debt repayments made during the period. The central bank monitors these movements closely as part of its mandate. Healthy reserve levels are vital for meeting the country’s external financing needs. The latest data offers a clear snapshot of the current forex position. Inflows lined up for the end of the month are set to improve the holdings. This should help bring the reserves closer to the projected level. The SBP continues its efforts to maintain stability in the external sector. Such updates are important for market participants and policymakers alike. The reserve position serves as an important barometer for economic resilience. Authorities focus on sustaining adequate levels through prudent management. Regular reporting enhances transparency in the financial system.

Breaking News

France Records 1,000 Excess Deaths as Europe Endures Record Heatwave

Web Desk / June 29, 2026

France has recorded around 1,000 excess deaths during the record-breaking heatwave that swept across Europe. Health authorities have warned that the true figure is expected to rise as more data from care homes and private residences becomes available. Read More: https://theboardroompk.com/trump-threatens-to-slam-100-tariffs-on-digital-tax-imposers-global-trade-tensions-soar/ Mounting Health Crisis in France Most of the victims were elderly people. Many lived in residential care facilities or private homes without adequate cooling. Health Minister Stephanie Rist said the effects of the extreme heat could linger for up to 10 days. She stressed that the episode is not finished. French health officials are still compiling complete figures. Additional deaths are anticipated in the coming days and weeks. Hospitals and emergency services faced intense pressure during the peak. They dealt with a sharp rise in heat-related illnesses among vulnerable groups. The heatwave began on June 20 and pushed temperatures to 40 degrees Celsius in several areas. Night-time heat offered little recovery time for those at risk. Public health teams are now urging neighbours and families to check on older residents. Access to water, shade and medical help remains critical. Climate Change Intensifies the Threat Scientists have stated that this heatwave would have been virtually impossible without human-caused climate change. Extreme night-time temperatures are now 100 times more likely than two decades ago. WHO Director-General Tedros Adhanom Ghebreyesus noted that 150 million people across Europe endured extreme heat. He warned that homes, workplaces and schools remain ill-equipped for such conditions. Events once described as once-in-a-generation are now occurring nearly every year. This shift is placing growing strain on public health systems. France’s northeast still remains under heat advisories. The rest of the country has seen partial relief after storms brought cooler air. The full scale of the health impact is still emerging. Long-term improvements in care facilities and urban cooling are now seen as urgent priorities.

Breaking News

Trump Threatens to Slam 100% Tariffs on Digital Tax Imposers, Global Trade Tensions Soar

Web Desk / June 28, 2026

US President Donald Trump has issued a stern warning, threatening to impose a 100% tariff on goods from any country that enacts a digital services tax targeting American companies. Read More: https://theboardroompk.com/pakistan-iran-trade-revival-hits-banking-and-barter-hurdles-despite-10bn-ambition/ This aggressive stance comes amid ongoing transatlantic frictions. It follows EU efforts to ease tariffs on US goods to meet Trump’s July 4 deadline. Escalating Trade Tensions Trump made the announcement via social media. He highlighted discussions in several European nations about implementing such taxes on US tech firms. The move would override existing trade agreements. This includes the recent US-EU deal capping certain tariffs. French President Emmanuel Macron has resisted pressure. France maintains its digital tax on major tech platforms. Global Implications for Tech and Trade Digital services taxes aim to capture revenue from online advertising, marketplaces, and other services. US firms like Google, Amazon, and Meta dominate these sectors. Countries including France, the UK, Italy, and others have pursued these levies. They argue that traditional tax rules fail to address the digital economy. Critics, including the US, view them as discriminatory. They claim the taxes unfairly target American innovation.For developing economies, the ripple effects could be significant. Heightened protectionism may disrupt global supply chains and investment flows. Pakistan’s Perspective Pakistan has been expanding its digital taxation framework. Recent budgets introduced measures on social media income and digital platforms to broaden the tax base. While not directly mirroring European DSTs, any escalation in US tariffs could affect bilateral trade. Pakistan’s exports to the US, particularly textiles and other goods, remain vital. Analysts warn that broader trade wars might complicate FDI inflows. Pakistan’s IT and fintech sectors, key growth areas, could face indirect pressures. The development underscores the need for cautious policy. Balancing revenue goals with international trade relations will be crucial. Experts suggest monitoring multilateral talks. OECD efforts for global tax reform remain relevant amid these unilateral actions. This latest threat highlights the fragile balance in US relations with trading partners. Markets are watching closely for potential fallout.

Breaking News

News

Categories

Company