Iran’s recent attacks on Israel could disrupt shipping routes, leading to higher global freight prices. Pakistani market may be affected, but could see assistance from Saudi Arabia. Escalation could raise global oil prices and food prices, impacting Pakistan’s current account balance and inflation. It is recommended to focus on large cap sectors like banks, energy, and fertilizers.

The Saudi delegation’s visit to Pakistan is seen as a significant milestone for the country’s economy. President Atif Ikram Shaikh of the Federation of Pakistan Chambers of Commerce and Industry is optimistic about the visit’s positive response to the Prime Minister’s recent trip to Saudi Arabia. The aim is to restore investor confidence and ensure the successful continuation of investment projects in Pakistan.

Pakistan’s rice exports have surged to a record high of $2.5 billion in fiscal year 2024, driven by bumper crops and the strategic upward revision of Minimum Export Prices. However, challenges such as transportation costs and fraudulent practices must be addressed to maintain growth and ensure fair competition in the global rice market. Source: Dawn.com.

Gunmen fatally shoot Amir Tamba, acquitted suspect in the death of Indian spy Sarabjit Singh in Pakistan. Pakistani authorities investigate the incident, which heightens tensions between Pakistan and India, and the motive behind the attack remains unknown.

The US Department of Agriculture has revised its rice import forecast for the Philippines, indicating that improved harvests may result in a smaller total inflow of imported milled rice in 2024. Despite dry conditions caused by El Niño, a larger crop has led to a lowered import forecast of 3.9 million MT, down from 4.1 million MT.

China’s contribution to advancing hybrid rice cultivation in Pakistan is highly praised, as it plays a significant role in revolutionizing the country’s agriculture. This collaboration aims to enhance local production capabilities, reduce imports, and explore export opportunities. With the adoption of advanced agricultural technologies, Pakistan aims to achieve food security, economic stability, and export growth.

Iran’s export of non-oil products to Pakistan increased by 39% in value, reaching over $2 billion. Meanwhile, imports from Pakistan to Iran saw a slight decline due to increased domestic rice production. Iran and Pakistan aim to achieve $5 billion in bilateral trade, emphasizing their strong trade relationship.

In the midst of the Gaza crisis, a scandal has emerged in Islamabad, Pakistan, where individuals posing as ‘muftis’ are exploiting the tragedy for personal gain. These deceptive individuals are soliciting money from families interested in adopting orphaned children from Gaza, but disappearing once they receive payment. The Ambassador of Palestine to Pakistan has urged citizens to be cautious and not fall victim to these schemes. Exploiting humanitarian crises for financial gain is deeply troubling. source: Source

Chief Minister Maryam Nawaz Sharif celebrates the significance of Besakhi in Punjab’s culture, sending warm wishes to the Sikh community. Special ceremonies and events have been organized to welcome Sikh pilgrims from around the world, ensuring a memorable experience for them. Punjab’s government prioritizes providing the best environment and facilities for Sikh pilgrims’ cultural and religious tourism.

Thailand’s government seeks to boost rice exports to the Philippines, capitalizing on the country’s growing demand for imports. The Commerce Minister intends to negotiate a deal to sell more Thai rice, leveraging its competitive pricing and superior quality in the market.