WorldUS and Iranian forces exchanged fire in the Strait of Hormuz, with both sides offering conflicting accounts as attacks spread to the UAE and Oman. Oil prices jumped, markets fell and airlines suspended services across key Gulf routes.
NATIONALThe Federal Constitutional Court has disagreed with a Supreme Court ruling on the wedlock policy, saying it does not create an absolute or vested right to posting with a spouse. The court said transfer decisions remain subject to administrative needs and the discretion of competent authorities.
SportsA petition in the Lahore High Court has challenged the use of chemical fireworks during the PSL Season 11 final at Gaddafi Stadium. The plea seeks action against the authorities and asks for an environmental penalty equal to 25 per cent of PSL revenue.
BusinessNepra has voiced concern over Mepco’s higher losses, under-utilised funds and weaknesses in its five-year investment plan. The regulator said the utility failed to justify key spending proposals and must improve planning, maintenance and system performance.
BusinessPakistan has assured the IMF it will amend the sovereign wealth fund law to remove powers to sell SOE assets, retain revenues and borrow. The fund will remain non-operational until parliament passes the changes.
BusinessThe State Bank of Pakistan injected more than Rs4.6 trillion into the banking system through conventional and Shariah-compliant OMOs to ease liquidity pressure. The rupee edged up slightly, while gold and silver prices fell in local and global markets.
BusinessThe Competition Commission of Pakistan has approved a Nishat Group consortium’s proposed acquisition of shares in Rafhan Maize Products Company after a phase-I review. The regulator said the deal was unlikely to substantially lessen competition.
WorldOil prices rose sharply on Monday after attacks in the UAE and the Strait of Hormuz increased fears over disruptions to Gulf energy supplies. Brent climbed 6.3% while WTI gained 4.2% amid escalating US-Iran tensions.
BusinessBusiness representatives have questioned the government’s next revenue target after the FBR posted a shortfall of over Rs600 billion. They urged the upcoming budget to reflect economic realities and focus on structural reforms.
BusinessPakistan’s refinery production increased 10.7% in April 2026, driven by higher diesel and petrol output, while OMC sales fell 7% amid higher fuel prices. Government petroleum levy collection reached Rs1.21 trillion in 10MFY26.
NATIONALFormer Nadra chairman Tariq Malik has been named among Okta’s top 25 identity leaders worldwide. The recognition highlights his work in digital identity, governance and public infrastructure.
NATIONALRenowned cleric Maulana Muhammad Idrees was shot dead in Charsadda after unidentified attackers opened fire on his vehicle, police said. Two officials were also injured, while the KP police chief has sought a report and ordered arrests.
