![US Conducts Military Strikes Against Iranian Infrastructure Amid Escalating Tensions</TITLE]On Tuesday, President Trump issued a warning that the United States may target Iran’s energy infrastructure should Tehran refuse to re-engage in diplomatic negotiations.Tehran’s lead negotiator, Mohammad Bagher Ghalibaf, stated via state media that the nation has “no reason” to adhere to any agreement that fails to serve Iran’s national interests.Ghalibaf further emphasized that Iran’s national security is tied to maintaining its established control over the Strait of Hormuz.According to US Central Command (Centcom), recent American military operations targeted command centers, air defense installations, and coastal surveillance sites throughout Iran, including locations in the port city of Bandar Abbas and Greater Tunb Island.Iranian state media reported explosions heard across the country and the activation of air defense systems in Tehran.Concurrently, US allies in the Gulf reported ongoing hostilities; the Kuwaiti military confirmed the interception of drone attacks, while Bahrain’s interior ministry instructed citizens to seek shelter immediately.In a retaliatory move, the Iranian military announced it had targeted US communication networks and fuel storage depots in Jordan.In a separate incident, Centcom reported that US forces disabled an unladen, Curacao-flagged oil tanker on Wednesday as it attempted to approach a blockaded Iranian port.](https://i3.wp.com/ichef.bbci.co.uk/ace/branded_news/1200/cpsprodpb/b67e/live/039382d0-80de-11f1-a5c2-db1656c1a0a8.jpg?w=1024&resize=1024,1024&ssl=1 "US Conducts Military Strikes Against Iranian Infrastructure Amid Escalating Tensions</TITLE]On Tuesday, President Trump issued a warning that the United States may target Iran’s energy infrastructure should Tehran refuse to re-engage in diplomatic negotiations.Tehran’s lead negotiator, Mohammad Bagher Ghalibaf, stated via state media that the nation has “no reason” to adhere to any agreement that fails to serve Iran’s national interests.Ghalibaf further emphasized that Iran’s national security is tied to maintaining its established control over the Strait of Hormuz.According to US Central Command (Centcom), recent American military operations targeted command centers, air defense installations, and coastal surveillance sites throughout Iran, including locations in the port city of Bandar Abbas and Greater Tunb Island.Iranian state media reported explosions heard across the country and the activation of air defense systems in Tehran.Concurrently, US allies in the Gulf reported ongoing hostilities; the Kuwaiti military confirmed the interception of drone attacks, while Bahrain’s interior ministry instructed citizens to seek shelter immediately.In a retaliatory move, the Iranian military announced it had targeted US communication networks and fuel storage depots in Jordan.In a separate incident, Centcom reported that US forces disabled an unladen, Curacao-flagged oil tanker on Wednesday as it attempted to approach a blockaded Iranian port.")
Pakistan Stock Exchange Limited (PSX) has released an updated auction calendar for Government of Pakistan (GoP) Hybrid Sukuk (GHS) and GoP Ijarah Sukuk (GIS) scheduled between July and September 2026, as advised by the Debt Management Office (DMO) under the Ministry of Finance.
The revised calendar outlines a comprehensive range of instruments, including short-term GoP Hybrid Sukuk with maturities of three and six months, alongside one-year, three-year, five-year, and ten-year tenors, all targeting a cumulative issuance of Rs925 billion during the quarter.
Specific under the Discounted and Variable Rental Rate (VRR) GHS category, PSX will hold five auctions from July 22 to September 16, 2026, each with a target size of Rs125 billion. These include Rs25 billion allocations for three-month, six-month, and one-year tenors, with a Rs50 billion target for the ten-year maturity, totaling Rs625 billion under VRR Sukuk.
For Fixed Rental Rate (FRR) GHS and Fixed Rate Zero Coupon (FRZ) GIS, two auctions are planned on August 4 and September 18, 2026, with a combined target of Rs300 billion. These will feature three-year, five-year, and ten-year instruments, each with a Rs50 billion target per auction.
All GoP Sukuk auctions will employ a Non-Uniform Pricing (Pay-as-Bid) mechanism, while Non-Competitive Bids (NCBs) will be accepted at the weighted average accepted yield or price of the respective auction. The 10-year FRR Zero Coupon Sukuk issuance will be structured under the Ijarah framework. Detailed guidelines for the Pay-as-Bid mechanism will be circulated to market participants separately.
Auction notices and supplementary details will be disseminated to market participants ahead of each scheduled auction.
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- US Conducts Military Strikes Against Iranian Infrastructure Amid Escalating Tensions</TITLE]On Tuesday, President Trump issued a warning that the United States may target Iran’s energy infrastructure should Tehran refuse to re-engage in diplomatic negotiations.Tehran’s lead negotiator, Mohammad Bagher Ghalibaf, stated via state media that the nation has “no reason” to adhere to any agreement that fails to serve Iran’s national interests.Ghalibaf further emphasized that Iran’s national security is tied to maintaining its established control over the Strait of Hormuz.According to US Central Command (Centcom), recent American military operations targeted command centers, air defense installations, and coastal surveillance sites throughout Iran, including locations in the port city of Bandar Abbas and Greater Tunb Island.Iranian state media reported explosions heard across the country and the activation of air defense systems in Tehran.Concurrently, US allies in the Gulf reported ongoing hostilities; the Kuwaiti military confirmed the interception of drone attacks, while Bahrain’s interior ministry instructed citizens to seek shelter immediately.In a retaliatory move, the Iranian military announced it had targeted US communication networks and fuel storage depots in Jordan.In a separate incident, Centcom reported that US forces disabled an unladen, Curacao-flagged oil tanker on Wednesday as it attempted to approach a blockaded Iranian port.
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