Author: S.M. Inam

By SM Inam KARACHI: The Pakistan Stock Exchange witnessed a strong positive trend on Wednesday, with the benchmark 100 Index rising by 1,837 points during trading. The index climbed to 155,803 points, after touching an intraday low of 155,291 and a high of 155,927. The rally came a day after the market closed at 153,966 points, indicating renewed investor confidence. Meanwhile, the Pakistani rupee showed slight stability in the interbank market, where the US dollar eased by one paisa to trade at Rs279.21, compared to the previous closing rate of Rs279.22. #PSX #StockMarket #PakistanEconomy #DollarRate #BusinessNews

By S.M. Inam KARACHI: A Pakistani oil tanker has successfully navigated the Strait of Hormuz after receiving special authorisation from Iranian authorities, in what analysts describe as a significant development for maritime trade amid heightened tensions in the Gulf . The Pakistan-flagged vessel, MT Karachi, is carrying more than 80 million litres of crude oil and is expected to dock at Karachi port imminently. The tanker travelled through a narrow channel between Iran’s Larak and Qeshm islands before continuing along the coast towards the Gulf of Oman . According to a Bloomberg report cited by multiple outlets, the vessel’s passage…

By S.M. Inam KARACHI: A fire broke out in the basement of a shopping mall on Tariq Road in Karachi, affecting two shops and filling the area with thick smoke. Rescue teams rushed to the scene as efforts to control the blaze continued. According to fire brigade officials, five fire tenders were deployed to extinguish the fire, while smoke was being cleared from the basement using special machines. Police officials said no casualties had been reported, but two firefighters, identified as Bilal and Sikandar, fell unconscious due to smoke inhalation. Authorities are working to fully contain the fire and ensure…

By S.M. Inam KARACHI: Cotton prices surged by Rs 500 per maund, reaching Rs 1,700 per maund, as the ongoing Middle East conflict disrupts imports and supply chains, according to Ehsan-ul-Haq, chairman of the Cotton Ginners Forum. The shortage of quality cotton, along with rising polyester prices, has contributed to the price spike. Haq explained that the suspension of cotton imports due to regional instability has led to increased demand and tighter availability in local markets. He warned that further escalation in the Middle East could continue to affect cotton supply and domestic prices. Meanwhile, global oil prices also saw…

By S.M. Inam KARACHI: Rising Middle East tensions have led to the cancellation of 47 flights from Pakistan to Qatar, Bahrain and Kuwait, disrupting travel operations across several major airports in the country. Despite the cancellations, a total of 213 flights to Middle Eastern destinations were scheduled from Pakistani airports on the day. According to flight schedules, Karachi Airport saw eight flights to the Middle East cancelled, while 53 flights continued to operate. At Lahore Airport, 16 flights were cancelled while 57 remained operational. From Islamabad Airport, 11 flights were cancelled and 64 were operating as scheduled. Meanwhile, five flights…

By S.M. Inam KARACHI: The government of Pakistan has increased the price of kerosene by Rs 39.20 per liter, setting the new rate at Rs 358.01 per liter. This move comes as part of adjustments in the energy sector amid ongoing economic challenges. The federal government has decided to maintain the petroleum levy on petrol and diesel, keeping it at Rs 105.37 per liter for petrol and Rs 55.24 per liter for diesel. The Ministry of Energy stated that by keeping petrol and diesel prices steady, the government will provide a subsidy of Rs 23 billion. According to the ministry,…

By S.M. Inam KARACHI: The Pakistan Stock Exchange (PSX) saw a negative trend last week, influenced by escalating tensions in the Middle East. The benchmark 100-index dropped 3,629 points over the week, closing at 153,866. During the week, the index fluctuated within a range of 144,119 to 158,624 points. A total of 2.25 billion shares were traded, valued at 132 billion PKR, while market capitalization decreased by 369 billion PKR, settling at 17,329 billion PKR. #Pakistan #PSX #Stocks #Market #Economy

By S.M. Inam KARACHI: The escalating conflict involving Iran, United States, and Israel has revived debate over a controversial prophecy attributed to the late Bulgarian mystic Baba Vanga. Tensions intensified after the United States and Israel reportedly launched attacks on Iran on February 28, killing several key figures. Iran has since carried out retaliatory strikes, pushing the Middle East into a period of heightened instability. As the regional crisis deepened, social media users began revisiting Baba Vanga’s predictions about the year 2026. Born in 1911, the blind Bulgarian mystic gained worldwide attention for alleged forecasts of major historical and tragic…

By S.M. Inam KARACHI: Airlines in Pakistan have raised both domestic and international ticket prices following a recent hike in jet fuel costs, industry sources reported. Domestic fares have increased by Rs2,800 to Rs5,000 per ticket, affecting major routes such as Karachi–Lahore and Islamabad–Karachi. International flights have also seen significant price rises, with fares to the Middle East and Central Asia climbing by up to Rs15,000, while tickets to destinations like Toronto and Manchester have jumped by as much as Rs28,000. Economy-class one-way fares to these cities now exceed Rs250,000. Read More: https://metro-morning.com/airfares-may-rise-by-rs5000-as-jet-fuel-prices-soar/ The fare adjustments come after jet fuel…

By S.M. Inam KARACHI: Fears of a petrol shortage in Pakistan began to ease on Tuesday as multiple oil shipments arrived at Port Qasim, providing relief after fuel prices surged due to the ongoing US-Iran conflict in the Middle East. Port Qasim Authority (PQA) spokesperson Asad Altaf Hussain Warsi said the vessel Torm Damini has already discharged about 37,000 metric tonnes of gas oil over roughly 40 hours and is scheduled to depart tonight. “The tanker Nave Atropos, carrying around 50,000 metric tonnes of motor gasoline from Singapore, arrived at Port Qasim on March 9 and is set to berth…