Markets
Pakistan juice industry under strain as report urges scrapping 20% excise duty
PRIME Institute says higher tax has sharply cut sales, hurt farmers and boosted informal producers ahead of FY27 budget
May 21, 2026
May 21, 2026
PRIME Institute says higher tax has sharply cut sales, hurt farmers and boosted informal producers ahead of FY27 budget
Global gold production remained concentrated among a handful of producers in 2024, led by China, Russia and Australia, while African nations increased their share of global supply, according to World Gold Council data.
China remained the world’s largest gold producer, mining 380.2 tonnes in 2024, accounting for more than 10% of global output. Russia followed with 330 tonnes, while Australia produced 284 tonnes.
Canada ranked fourth with 202.1 tonnes, followed by the United States with 158 tonnes. Ghana, with 140.6 tonnes, was the world’s sixth-largest producer and Africa’s leading producer.
The World Gold Council said China’s dominance gives it a major role across the global gold market, spanning mining, refining, jewelry consumption and central bank reserves. China is also one of the world’s largest consumers of gold.
Russia remained the second-largest producer despite Western sanctions and geopolitical tensions stemming from the war in Ukraine, while Australia continued to benefit from its vast mineral reserves and mature mining industry.
Africa accounted for nearly one-quarter of global mine supply in 2024, underscoring its growing importance in the international gold market.
Ghana led African production, followed by Mali and South Africa. Other African nations, including Burkina Faso, Sudan, Tanzania and Côte d’Ivoire, have expanded production over the past decade as mining investment increased across the continent.
The World Gold Council noted that several smaller African economies depend heavily on gold exports for government revenue and foreign exchange reserves.
However, political instability and security concerns continue to pose operational risks in some mining regions. Despite these challenges, Africa remains a key growth region for global mining companies, the council said.
The Americas also remained a key pillar of global gold supply, led by Canada, the United States and Mexico, along with major South American producers.
Mexico produced roughly 140 tonnes in 2024, while Peru, Brazil, Colombia and Argentina also contributed significantly to global output.
Gold prices have remained elevated in recent years as investors seek safe-haven assets amid geopolitical tensions, inflation concerns and strong central bank buying, increasing the strategic importance of major producing nations.
The transaction marks the highest amount ever raised by any IPO at the Pakistan Stock Exchange
Plan under Income Tax Ordinance Section 99C calls for turnover-based system, simplified returns and weight-based inventory reporting
Yield tops 12% as investors bet on further rate hikes amid inflation and rising oil prices
The finance minister will meet investors and officials to explore further financing and investment opportunities
Qatar LNG exports slow as more than 100 vessels wait outside Hormuz
Concerns raised over weak reporting, low compliance, and black money inflows into property sector
Move aims to steady global markets as Strait of Hormuz disruptions tighten supply; major energy firms take part in DOE program
Move expands access to Shariah-compliant stocks, sukuk and ETFs under dedicated trading systems
Most of the companies were from IT, e-commerce, and trading sectors
State-run Pakistan LNG Ltd. issues fresh tenders for May deliveries as Middle East conflict disrupts flows
SECP, PSX, CDC and NCCPL back PKR 120 million initiative to boost retail investor participation
The company concludes book building with 7x oversubscription.
OGDCL crude oil output rose to 35,500 bpd in 9MFY26, but pipeline bottlenecks continue to limit full production. Here's what management said
Sitara Petroleum's IPO reached its PKR 18.90 cap price within 10 minutes of book building opening, setting a Pakistan Stock Exchange record
SBP’s surprise 100bps hike and oil at $125 shift sentiment, with banks emerging as key market winners
Pakistan's KSE-100 fell 15% in Q1 2026, ranking third worst globally. Here's what drove the sell-off and what analysts expect next
The company is offering 389.7 million shares to fund an expansion project
Global gold demand rose 2% year-on-year to 1,231 tonnes in the first quarter of 2026, according to the World Gold Council
