Business

BrusselsThe euro zone economy expanded by 0.2% in the third quarter, surpassing economist expectations of 0.1%, Eurostat flash data revealed Thursday. Buoyant consumer spending cushioned faltering exports and Germany’s industrial woes, with France leading the charge at a robust 0.5% growth—more than double the forecasted 0.2%—its strongest in over two years despite political gridlock. Spain added momentum with 0.6% growth and Portugal topped at 0.8%, fueled by tourism and domestic demand. Germany, however, stagnated at 0%, underscoring the bloc’s uneven recovery amid U.S. tariffs and ECB rate cut debates. Year-on-year, GDP rose 1.3%, aligning with the ECB’s upgraded 1.2% full-year outlook. Analysts caution the uptick masks risks from France’s budget battles and Germany’s stimulus lags, but positive PMIs signal sustained domestic resilience. On X, economists hailed it as a ‘timely boost’ for ECB policy.

Karachi, October 27, 2025 – PIA Holding Company Limited (PIAHCL) has approved the transfer of its subsidiary, Precision Engineering Complex (PEC), to a new entity under the Pakistan Air Force (PAF). This move marks a significant milestone in PIA’s ongoing restructuring efforts to streamline operations and enhance efficiency. The transfer aims to leverage PAF’s expertise in managing PEC’s advanced engineering capabilities, ensuring its strategic growth. PIAHCL’s decision aligns with Pakistan’s broader economic reforms, fostering collaboration between state institutions. The transfer is expected to strengthen PEC’s role in aerospace and defense sectors.

San Francisco Tesla Board Chair Robyn Denholm issued a stark warning to shareholders in a letter Monday: Elon Musk could depart as CEO if his proposed $1 trillion performance-based pay package is not approved at next week’s annual meeting. Denholm emphasized Musk’s ‘critical’ leadership for Tesla’s push into AI, autonomous driving, and robotics, stating rejection could cost the company his ‘time, talent, and vision,’ eroding significant value. The plan features 12 tranches of stock options linked to milestones like an $8.5 trillion market cap and 1 million Optimus robot deliveries. This follows a Delaware court’s earlier voiding of Musk’s 2018 deal over board independence issues.

Pakistan’s National Consumer Price Index (CPI) rose to 6.2% YoY in October 2025, up from 5.6% in September, marking the highest inflation reading since October 2024. The uptick reflects mounting price pressures across key categories, led by Food (5.6% YoY), Housing (4.2% YoY), and Education (10.6% YoY), according to Pakistan Bureau of Statistics (PBS) and Topline Securities. Key Highlights (October 2025): CPI Index: 280.66 (vs 264.17 in Oct’24) MoM Increase: +1.8% 4MFY26 Average Inflation: 4.72% (vs 8.71% in 4MFY25) Top Contributors to Inflation (YoY): Education – 10.6% Clothing & Footwear – 8.1% Transport – 6.7% Food – 5.6% Despite the monthly rise, year-to-date inflation remains significantly lower than last year, supported by base effects and relative stability in energy and commodity prices, according to Arif Habib Limited.

Karachi, November 3, 2025 – Master Changan Motors Limited (MCML) today unveiled the Deepal S05 REEV, marking a groundbreaking milestone as Pakistan’s inaugural Range-Extended Electric Vehicle (REEV). Priced at an accessible PKR 9,999,000 with a booking fee of just PKR 2,000,000, this innovative compact SUV combines cutting-edge hybrid technology with spacious design, setting new benchmarks in the local automotive landscape.Built on an EV-first platform, the Deepal S05 REEV redefines comfort and presence with Pakistan’s longest wheelbase at 2,880 mm and best-in-class width of 1,990 mm. These dimensions deliver segment-leading interior space, ensuring ample room for families and a commanding road stance that turns heads.Equipped with a range-extender system—where a combustion engine generates power solely for the electric motor—the S05 promises efficient, eco-friendly performance without compromising on power. Additional highlights include Vehicle-to-Load (V2L) capability for powering external devices, a fuel efficiency of 20-24 km/L, and a suite of advanced safety features.Bookings are now open nationwide, with local assembly set to commence this month. For more details, visit authorized Deepal dealerships.

Zurich The Swiss National Bank (SNB) reported a profit of CHF 12.6 billion ($15.7 billion) for the first nine months of 2025, a stark turnaround from last year’s losses, largely fueled by a record CHF 22.9 billion valuation gain on its unchanged gold holdings. Gold prices surged to CHF 98,024 per kilogram by end-September, up over 29% from year-end 2024 and more than 50% year-to-date amid global uncertainties. Offsetting this were a CHF 9.0 billion loss on foreign currency positions—hit by CHF 46.3 billion exchange rate losses despite equity gains—and a minor CHF 0.9 billion Swiss franc loss. The windfall bolsters SNB’s balance sheet, potentially aiding future dividend payouts to cantons and the federal government.Analysts hail the ‘golden glow’ as a buffer against volatility, with gold’s safe-haven status shining brighter in turbulent times.

Brussels Eurozone annual inflation dipped to 2.1% in October from 2.2% the previous month, Eurostat’s flash estimate showed Friday, edging closer to the European Central Bank’s 2% target. The modest slowdown was driven by falling energy prices, which dropped 1.0% year-on-year, offsetting a pickup in services inflation to 3.4% from 3.2%. Core inflation, stripping out volatile food and energy, remained steady at 2.4%, defying forecasts for a decline as higher services costs balanced softer industrial goods prices. This resilience underscores persistent wage pressures in a recovering economy. The data bolsters the ECB’s cautious stance after holding rates last week. Analysts see limited room for further cuts, with inflation projected to undershoot 2% in 2026 before rebounding to target by 2027. “It’s a benign picture, but core stickiness warrants vigilance,” said ECB watcher Carsten Brzeski.

ISLAMABADThe Board of Directors of Oil & Gas Development Company Limited (OGDCL) on Wednesday declared a first interim cash dividend of Rs 3.50 per share (35%) — the highest first-quarter dividend in the company’s history.The announcement was made during a board meeting held here, which also approved the financial results for the quarter ended September 30, 2025. OGDC posted net sales revenue of Rs 96.192 billion and profit after tax of Rs 38.305 billion, translating into earnings per share (EPS) of Rs 8.91.During the period, the Company contributed Rs 64 billion to the national exchequer through corporate tax, dividends, royalty, and government levies, while its oil and gas production contributed foreign exchange savings of US$703 million as import substitution. The quarter’s results reflected the combined impact of forced production curtailments by SNGPL and UPL and a lower average crude oil basket price, partly offset by a higher realized gas price and appreciation of the US dollar against the rupee. Average daily net saleable production during the quarter stood at 31,315 barrels of crude oil, 641 MMcf of natural gas, and 630 tons of LPG compared with 31,768 barrels, 699 MMcf, and 618 tons, respectively, in the corresponding period last year. In the absence of forced curtailments, average daily saleable production would have been 34,038 barrels of oil, 783 MMcf of gas, and 698 tons of LPG. Production was supported by the injection of four new wells — Aradin-1, Soghri North-1, Jhal Magsi South-1 and South-2 — along with the installation of Electrical Submersible Pumps (ESPs) at Rajian-5 and Pasakhi-11, resulting in an incremental crude oil increase of over 3,100 barrels per day. In total, 24 workover jobs were executed to optimize field performance and arrest natural decline.

ISLAMABAD The Pakistani government has announced plans to revive the Islamabad–Tehran–Istanbul (ITI) freight train by December 31, 2025, following the resolution of trade, administrative, and logistical challenges. The ITI corridor, a vital link for regional trade, aims to boost economic connectivity between Pakistan, Iran, and Turkey. The revival is expected to facilitate faster and more cost-effective freight transport, enhancing trade volumes and strengthening bilateral ties. Authorities are finalizing agreements to ensure smooth operations, marking a significant step toward regional economic integration and prosperity.

Milan Japanese automaker Mazda has partnered with its 50/50 joint venture, Changan Mazda Automobile, to form a carbon emissions pooling agreement in the European Union, enabling the sharing of credits to avert hefty fines, according to an EU document. This move addresses the slower-than-expected shift to electric vehicles among legacy carmakers, amid EU rules targeting average emissions over 2025-2027. The pool, valid for 2025, is open to other manufacturers until November’s end and is expected to renew annually. Similar alliances, like Tesla’s with Stellantis and Toyota, highlight industry strategies to mitigate up to €15 billion ($17.5 billion) in potential penalties.