3. Business – Page 146

PSX kicks off 2026 with strong rally, KSE-100 Index surges over 2,300 points from previous close

The Pakistan Stock Exchange (PSX) started the new year on a positive note, with the benchmark KSE-100 Index rising by more than 2,300 points on Thursday, driven by a mix of positive economic indicators and investor confidence.

The index closed at 176,355.49 marking an increase of 2301.7 points or 1.32% from the previous close of 174,054.32 points.

Strong buying interest was observed across several key sectors, including commercial banks, oil and gas exploration companies, and oil marketing companies (OMCs). Major index-heavy stocks such as OGDC, POL, PPL, PSO, MCB, and UBL were in the green during the session.

Analysts attributed the market’s positive momentum to several factors, including a recovery in industrial output and ongoing structural reforms aimed at improving Pakistan’s economic stability.

According to the Ministry of Finance’s Monthly Economic Outlook for December, Pakistan’s economy is expected to maintain its positive trajectory in the near term. The report highlighted that large-scale manufacturing (LSM) is on track to continue its recovery, bolstered by reforms targeting industrial competitiveness. Key sectors such as textiles, automobiles, cement, and food processing were identified as major contributors to this growth.

This optimistic outlook follows data released by the Pakistan Bureau of Statistics, which showed a 3.71% economic growth in the first quarter of FY2025-26, largely driven by stronger industrial production. However, opposition leaders and some economists have raised concerns over the realism of the official growth figures, questioning their accuracy.

On inflation, the finance ministry projected that consumer prices would stay within the range of 5.5% to 6.5% in December, primarily due to base effects. Inflation stood at 6.1% year-on-year in November 2025, exceeding the ministry’s earlier projections.

The positive outlook, alongside the fiscal discipline, governance reforms, and ongoing digitalisation efforts, has bolstered investor sentiment and supported the PSX’s strong performance to start the year.

Meanwhile, the Federal Board of Revenue (FBR) reported a provisional collection of Rs 6,154 billion for the first six months of the fiscal year 2025-26, falling short of the target of Rs 6,490 billion by Rs 336 billion. The shortfall in revenue collection, particularly in December 2025, may prompt the government to activate contingency measures, as agreed with the International Monetary Fund (IMF).

The PSX closed lower on the final trading day of the year, following profit-taking activity. The KSE-100 Index ended 418.45 points lower, settling at 174,054.32 points.

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January 1, 2026

The 2026-2027 Feeding Student Success Scholarship is Now Open!

At Whataburger, we’re not just building burgers—we’re helping build brighter futures.

As part of our commitment to the communities we call home, Whataburger is proud to offer $600,000 in scholarships for each academic year through our Whataburger Feeding Student Success program. This opportunity is available to eligible students across our 17-state footprint, including both our Guests and our Family Members (employees).

Now in its fifth year, the Whataburger Feeding Student Success Scholarship continues to empower students to chase their dreams. This year, we’re teaming up once again with Dr Pepper to provide $600,000 in funding—$500,000 from Whataburger and $100,000 from Dr Pepper—helping students access the education they deserve.

120 students will each receive a $5,000 scholarship, which can be used for tuition, books, housing, or other educational expenses. The scholarships are open to students attending any college, university, or not-for-profit vocational school.

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January 1, 2026

Under new Colorado law, Edgewater changes how tipped workers are paid

Starting on Jan. 1, Coloradans earning the minimum wage will earn a little more. Depending on where you live, there will be changes to how tipped workers are paid, including in the City of Edgewater. The city will be the first in the state to take advantage of changes to state law that give employers greater control over how tipped workers are paid.

For decades, Edgewater Inn Pizza has been a literal cornerstone of the small town. Owner Nayia Gingerich and her husband, Grant, took over the historic location about three years ago after closing their Tennyson bar, Local 46, in Denver.

CBS

“I actually grew up in the neighborhood and grew up coming here, so it’s a special place for myself and many, many people,” said owner Nayia Gingerich. “Labor is one of the number one issues in what has been kind of destroying this independent restaurant community,” she said.

It’s an issue she took up last fall, pushing the Edgewater City Council to take advantage of a new state law designed to ease labor costs for restaurants, a law Colorado Gov. Jared Polis has urged cities to use. The legislation allows local governments to raise their hourly minimum wage without also raising the tipped minimum wage.

“I’ve been really trying to do some community outreach and education around it so that people understand this isn’t a minimum wage issue, it’s a tip credit issue,” Nayia Gingerich said.

After much debate and opposition from several council members, the measure passed.

Beginning in 2026, Edgewater’s hourly minimum wage will increase from $16.52 to $18.17. However, the tipped minimum wage will remain $13.50 an hour. If employees do not earn enough in tips to reach the full $18.17, employers must make up the difference —the “tip credit.”

“The minimum wage protects everyone. It protects tipped and non‑tipped employees,” Gingerich said.

Not everyone agrees, and not everyone will be making changes under the new law.

In Denver, both the hourly and tipped minimum wages will increase in 2026. A Denver City Council spokesperson said there has been no legislation or formal discussion to change the current model.

We asked the governor to weigh in on Edgewater’s decision, as well as Denver’s choice to maintain its existing structure. In a statement, he said:

“If local communities like Denver don’t use the law we passed to get this right to save restaurants, and restaurants continue to suffer and close, costing workers their livelihoods, then it’s imperative the state intervene to fix it.”

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January 1, 2026

OGRA increases LPG prices for January 2026; domestic cylinder cost rises by Rs126

The Oil and Gas Regulatory Authority (OGRA) has announced an increase in Liquefied Petroleum Gas (LPG) prices for January 2026, with the cost of an 11.8 kg domestic cylinder rising by Rs126.09, effective from January 1.

According to the official notification, the maximum consumer price for LPG in January has been set at Rs219,677.51 per ton, or Rs2,592.19 per 11.8 kg cylinder. This marks an increase of Rs10,686.11 per ton compared to December 2025, when the price stood at Rs208,991.40 per ton, or Rs2,466.10 per cylinder.

Similarly, OGRA has raised the LPG producer prices to Rs178,377.51 per ton, or Rs2,104.85 per 11.8 kg cylinder for January 2026, up from Rs167,691.40 per ton or Rs1,978.76 per cylinder in December 2025, reflecting the same upward adjustment of Rs10,686.11 per ton.

OGRA explained that LPG prices are influenced by the Saudi Aramco Contract Prices (CP) and the US dollar exchange rate. In January, the Saudi Aramco CP rose by 6.74% compared to the previous month, while the average exchange rate of the US dollar slightly decreased by 0.14%. However, the increase in the CP outweighed the minor relief from the exchange rate.

As a result, the LPG consumer price increased by Rs126.09 per 11.8 kg cylinder, representing a 5.11% rise on a monthly basis. On a per-kilogram basis, the consumer price of LPG rose by Rs10.68.

OGRA clarified that the prices announced are the maximum allowed rates, and any violations will be addressed in accordance with applicable laws and regulations. The authority also urged consumers to report instances of overcharging and irregular practices to help ensure compliance throughout the LPG supply chain.