Business News
Pearl Continental Owner Clarifies Hotel Business Split Rumors
Pakistan Services Limited, the owner and operator of Pearl Continental Hotels, has addressed reports circulating on social media about a possible split of its hotel business. The company has denied having any knowledge of the reported development, saying it had not received information regarding an alleged breakup of the business. In a clarification submitted to […]
PC Hotels May Be Divided Between Thatta Cement and Fauji Foundation Under Proposed Settlement
Pakistan Services Limited (PSL), the company behind Pakistan’s Pearl Continental (PC) hotel chain, could see five of its hotel properties divided between Thatta Cement and Fauji Foundation under a proposed out-of-court settlement. The potential arrangement comes after more than a year of legal disputes involving ownership and voting rights in Pakistan Services. The dispute centers […]
Hub Power FY26 Profit Rises to Rs. 48.6 Billion on Stronger BYD Contribution
Hub Power Company Limited (PSX: HUBC) has reported a strong financial performance for fiscal year 2026, with its profit after tax (PAT) reaching Rs. 48.6 billion. The result represents an 8 percent increase from the Rs. 46 billion recorded in the previous fiscal year. The improved annual earnings were supported by stronger contributions from the […]
Nishat-Led Consortium Joins Bid to Acquire FESCO in Pakistan’s Privatization Drive
A powerful consortium of seven publicly listed Pakistani companies has entered the race to acquire the Faisalabad Electric Supply Company (FESCO), marking a significant development in the government’s ongoing privatization program. The move highlights growing private sector interest in Pakistan’s energy distribution sector as authorities continue efforts to improve efficiency and attract strategic investment. Each […]
CCP Approves Lotte Group Restructuring with No Impact on Pakistan’s Food and Beverage Market
The Competition Commission of Pakistan (CCP) has granted approval for an internal corporate restructuring within South Korea’s Lotte Group after concluding that the transaction will not reduce competition in Pakistan’s food and beverage industry. The approval follows a detailed review conducted under the Competition Act, 2010, which requires regulatory clearance for mergers and acquisitions that […]
PTA Puts Hold on Ufone-Telenor Rebranding Amid Regulatory and Legal Review
Pakistan’s largest telecom merger has entered another important phase as the proposed rebranding of the merged Ufone and Telenor Pakistan mobile business faces regulatory scrutiny. While PTCL Group is considering a new identity for the combined operator under PTML, the Pakistan Telecommunication Authority (PTA) has made it clear that no branding changes will be allowed […]
Rising Petroleum Levy Identified as Key Factor Behind Pakistan’s Inflation Surge
Pakistan’s recent return to double-digit inflation is increasingly being attributed to higher fuel taxation, with a new study suggesting that the government’s expanding use of the petroleum levy has played a significant role in driving up prices across the economy. A report published by the Policy Research and Advisory Council (PRAC) argues that the petroleum […]
Pakistan Cement Sales Fall Over 21% in May as Construction Demand Remains Weak
Pakistan’s cement industry experienced a significant setback in May 2026, as overall cement dispatches recorded a sharp year-on-year decline amid slowing construction activity and weaker market demand. The latest figures indicate that both domestic sales and exports came under pressure, highlighting ongoing challenges facing one of the country’s key industrial sectors. According to data released […]
Emirates Group Reports Record AED 24.4 Billion Profit for 2025-26
The Emirates Group has announced record-breaking financial results for the 2025-26 fiscal year, posting its highest-ever profit, revenue, and cash balance despite operational disruptions during the final month of the reporting period. According to the group’s latest annual report, the Emirates Group recorded a profit before tax of AED 24.4 billion (US$ 6.6 billion), reflecting […]
PSO Profit Surges 150% to Rs. 38.1 Billion in 9MFY26
Pakistan State Oil (PSO) has reported a massive jump in profitability for the nine months ending March 31, 2026, showcasing strong financial resilience despite a volatile energy market. The company posted a net profit of Rs. 38.1 billion, marking an impressive 149 percent increase compared to Rs. 15.3 billion in the same period last year. […]