Engro Fertilizers CEO Ali Rathore Resigns as Company Initiates Leadership Transition
Engro Fertilizers Limited announces CEO Ali Rathore’s resignation, with the board beginning the search for a successor while ensuring a stable handover during the notice period.
Fitch Warns Middle East Sovereigns of Credit Risks Amid Short-Term Gulf Conflict
Fitch Ratings says Middle Eastern countries have financial buffers to withstand a brief regional conflict, but prolonged fighting or energy infrastructure damage could threaten credit ratings and impact GCC exports.
Wilmar International Records $150 Million Loss on Unity Foods Investment in Pakistan
Wilmar International reports a $150 million provision linked to its 42% stake in Unity Foods Pakistan amid financial inconsistencies and leadership exits, while maintaining strong overall FY2025 performance.
Mobilink Bank Appoints Mustapha Lotia as Chief Information Security Officer
Mobilink Bank welcomes cybersecurity expert Mustapha Lotia as CISO, leveraging his extensive experience across Telenor Easypaisa, TASDEEQ, NADRA, and major banks to strengthen security, risk governance, and data protection.
Raqami Islamic Digital Bank Forms Cash Management Alliance with Askari Bank
Raqami Islamic Digital Bank partners with Askari Bank to enhance deposit, withdrawal, ATM, and cheque clearing services, boosting operational efficiency and customer convenience.
Najd Gateway Holding Moves to Acquire Majority Stake in Samba Bank
Najd Gateway Holding Company announces acquisition of 84.51% of Samba Bank shares, updating capital details in public offer addendum while other terms remain unchanged.
Pakistan Trade Faces Delays and Higher Costs as Strait of Hormuz Disruption Hits Shipping Routes
Escalating Middle East conflict and closure of the Strait of Hormuz are causing delays, higher freight charges, and increased insurance costs for Pakistan’s trade, with major shipping lines halting services and imposing contingency surcharges.
Pakistan Faces $31.72 Billion Foreign Currency Outflow Amid Maturing Loans and Deposits
Pakistan’s foreign currency assets are expected to see a net outflow of $31.72 billion due to maturing loans, securities, and deposits, highlighting pressure on reserves and the need for careful external account management.
Commercial Banks Lead Sector Losses Amid Market Decline at Pakistan Stock Exchange
The commercial banking sector emerged as the largest drag on the Pakistan Stock Exchange, losing over 5,000 points and contributing significantly to the overall market downturn. Other sectors including fertilizer, oil & gas exploration, and cement also faced notable declines.
Supernet Technologies Reports 2.4x Surge in Half-Year Profit Driven by Cost Reduction
Supernet Technologies Limited posts a net profit of Rs70.6 million for H1 FY2026, driven by a major reduction in administrative, other, and impairment expenses, while EPS rises to Rs141.2.