Fuel sales in Pakistan have slumped as costlier prices triggered by the Iran war force consumers to cut back, according to AKD Securities Ltd. Overall sales by volume fell to 1.17 million tons in May, almost a quarter lower than the same month last year, the brokerage said in a report, citing figures from the Oil Companies Advisory Council, an industry group. Among individual products, sales of pe...
Fuel sales in Pakistan have slumped as costlier prices triggered by the Iran war force consumers to cut back, according to AKD Securities Ltd. Overall sales by volume fell to 1.17 million tons in May, almost a quarter lower than the same month last year, the brokerage said in a report, citing figures from the Oil Companies Advisory Council, an industry group. Among individual products, sales of petrol were 12% weaker on-year at 617,000 tons, while diesel sales plunged 32% to 455,000 tons, according to the report. Pakistan has been hit hard by the conflict between the US, Israel and Iran, with the near-total closure of the Strait of Hormuz choking off vital shipments and boosting prices. Nationwide inflation has accelerated to a two-year high, in part because of higher energy-import costs. “Diesel sales are lowest since February 2025,” Muhammad Ali, an analyst at AKD Securities, said in a phone interview. “The demand destruction from the historic price shock has come at a lag,” following earlier stockpiling, he said.
Tesla’s Shanghai Gigafactory recorded its strongest monthly deliveries of the year in May as a broader recovery in China’s electric vehicle market gathered pace, although the US carmaker is likely to face intensifying competition from domestic rivals launching a wave of new models. The factory in Shanghai’s Lingang free-trade zone delivered 85,982 Model 3 and Model Y vehicles last month, up 39.4 p...
Tesla’s Shanghai Gigafactory recorded its strongest monthly deliveries of the year in May as a broader recovery in China’s electric vehicle market gathered pace, although the US carmaker is likely to face intensifying competition from domestic rivals launching a wave of new models. The factory in Shanghai’s Lingang free-trade zone delivered 85,982 Model 3 and Model Y vehicles last month, up 39.4 per cent from a year earlier and 8.2 per cent from April, according to Tesla China. The figure...
In this article NVO NVO LLY Follow your favorite stocks CREATE FREE ACCOUNT Novo Nordisk is launching its weight loss pill Wegovy in the United Arab Emirates, the Danish drugmaker said Wednesday, marking its first launch outside the U.S. market. Novo's approach will be guided by patient demand, the readiness of healthcare professionals, and the strength of healthcare and telehealth infrastructure,...
In this article NVO NVO LLY Follow your favorite stocks CREATE FREE ACCOUNT Novo Nordisk is launching its weight loss pill Wegovy in the United Arab Emirates, the Danish drugmaker said Wednesday, marking its first launch outside the U.S. market. Novo's approach will be guided by patient demand, the readiness of healthcare professionals, and the strength of healthcare and telehealth infrastructure, said Emil Kongshøj Larsen, executive vice president, International Operations. "The UAE has demonstrated strong momentum across all of these areas, and we look forward to bringing Wegovy pill to additional select countries in the coming months," he said. The country's regulator, the Emirates Drug Establishment, approved the Wegovy pill for weight management and reducing the risk of cardiovascular events in high-risk patients earlier this week. Larsen told CNBC last month that Novo was "all in" on launching the Wegovy pill in overseas markets, and that it was a "major opportunity." Weight-loss wars go global as Novo Nordisk bets big on its Wegovy pill The UAE launch comes as Novo has been battling a declining share of the weight-loss drug market, which analysts expect could exceed $100 billion by 2030. While Novo was first in launching the so-called GLP-1 drugs for obesity, Lilly's Mounjaro overtook Novo's Ozempic as the best-selling GLP-1 in the second quarter of 2025. The U.S. still accounts for more than half of sales for both Novo and its chief rival, Eli Lilly , which recently launched its own weight-loss pill, Foundayo. Novo announced alongside its first-quarter earnings in early May that, pending approvals, it would launch the pill in certain markets outside the U.S. in the second half of 2026, without naming specific markets. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.