Cricket is not Cricket without Shahid Afridi

· As per the latest industry reserve figures from the PPIS for Dec’25, rising by 6%/4% for oil and gas, respectively.  · We reiterate our ‘BUY’ stance on OGDC, PPL, MARI and POL, with Dec’26 target prices of PkR522/412/935/850 per share, respectively. Industry reserves see modest upgrade in Dec'25: As per the latest reserve figures published by PPIS for Dec'25, the industry's balance recoverable reserves improved on both fronts, with oil balance recoverable rising to 253mn bbls (+6%YoY) from 238mn bbls and gas balance recoverable increasing to 18,854 bcf (+4%YoY) from 18,142bcf. The aforementioned increase during the period is behest of the accelerated exploration and appraisal activity, leading to estimate reserve replacement ratio of 1.2x/1.5x for oil and gas, respectively (assuming latest production levels). Critically, oil reserve depletion improved to 81% (vs. 82% in Dec'24), the first improvement in several years, while gas depletion stabilized at 72%, indicati...

PM orders complete preparedness amid ME tensions, lauds public support for austerity, fuel-saving drive: Trump ‘open to diplomacy’ as Iran, US step up attacks US President Donald Trump remains open to diplomacy with Iran, the White House said Thursday, adding that Washington is still talking to Tehran despite the renewal of hostilities. The comments come a day after Trump thanked Iran for freeing a US citizen detained since December 2024, in a move seen as a possible diplomatic opening. “The president will hold them accountable when they turn their back on the words that they state to the United States. But he is always open to diplomacy at the very same time,” White House Press Secretary Karoline Leavitt told reporters. “They have expressed they still want to make a deal to the president. We´re talking to them, but again, the president is not going to allow them to fire on ships in the Strait without paying a consequence for that.” Iran and the United States exchanged intensified fir...