Saudi Arabia, Russia and six other members of Opec+ on Sunday decided to raise their oil production quotas by 137,000 barrels per day (bpd) for November, continuing efforts to reclaim market share amid cautious demand projections, AFP reported.“In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137 thousand barrels per day from October’s levels,” Opec+ said in a statement after an online meeting.The increase was lower than many analysts had anticipated, with the group seeking to avoid exerting downward pressure on prices amid weak global demand. “Opec+8 stepped carefully after witnessing how nervous the market had become in light of rumours that production could be hiked by 500,000 barrels a day,” said Jorge Leon, analyst at Rystad Energy. “The group is walking a tightrope between maintaining stability and clawing back market share in a surplus environment.”Since April, the eight members — Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Oman, and Algeria — have already raised their quotas by more than 2.5 million bpd. The initial focus of Opec+ this year was to support high prices by limiting supply, but the strategy shifted in April to prioritise regaining market share from competitors including the US, Brazil, Canada, Guyana and Argentina.Global oil demand projections are modest. The International Energy Agency expects consumption to rise by only 700,000 bpd between 2025 and 2026, while Opec forecasts higher growth of 1.3 million bpd in 2025 and 1.4 million bpd in 2026.Brent crude, the global benchmark, traded below $65 per barrel on Friday, down about 8% in a week amid concerns over a potential surge in Opec+ production.Russia, the cartel’s second-largest producer after Saudi Arabia, relies on high oil prices to fund its war effort in Ukraine but has limited capacity to increase output due to US and European sanctions. “The increase decided Sunday is manageable for Russia,” said Leon. The country currently produces around 9.25 million bpd, close to its maximum capacity of 9.45 million bpd, down from roughly 10 million before the conflict, analysts said.Ukrainian strikes on Russian refineries since August have intensified exports, as domestic utilisation of crude has declined, making Russia even more dependent on foreign markets, said Arne Lohmann Rasmussen, analyst at Global Risk Management

Pakistan has recorded one of the sharpest declines in default risks globally, emerging as the only country to show consistent improvement over the past 15 months, according to the Adviser to the Finance Minister, Khurram Schehzad.

“Pakistan is no longer viewed through the lens of default risk,” Schehzad said. “It is emerging as a stable, reform-driven, and resilient economy,” said Khurram Schehzad on Sunday In a post on X, citing a report of Bloomberg.

He said Pakistan ranked second among emerging economies showing the strongest reduction in sovereign default probabilities — only behind Turkiye.

Between June 2024 and September 2025, Pakistan’s default risk improved by 2,200 basis points, reflecting what Schehzad described as “a sign of sustained economic recovery and growing investor confidence.”

“This is clear evidence of Pakistan’s durable economic improvement,” he said, adding “The country is the only economy to have demonstrated continuous quarterly improvement.”

Schehzad said, the trend demonstrates that investors’ trust in Pakistan is being restored, driven by macroeconomic stability, structural reforms, timely debt repayments, adherence to the IMF programme, and positive ratings from international agencies such as S&P, Fitch, and Moody’s.

He added that while countries such as South Africa and El Salvador saw limited improvement — and risks rose in Egypt, Nigeria, and Argentina — Pakistan’s steady progress reflects the success of ongoing fiscal and structural reforms.

Pakistan’s economy to stay afloat despite floods

The International Monetary Fund (IMF) does not foresee any major setback to Pakistan’s economic growth or revenue collection this fiscal year due to the recent floods. Except for Punjab, provinces have also not reported significant economic losses, minimizing the chances of a downward revision in targets.

According to government sources, Pakistani authorities have assessed flood-related losses in three rivers, but the evaluation of destroyed or damaged infrastructure in Punjab is still ongoing.

Government sources said that an IMF delegation shared its views about the economic impacts of the floods during a kick-off meeting with Finance Minister Muhammad Aurangzeb. The governments of Balochistan, Sindh and Khyber-Pakhtunkhwa (K-P) shared their initial assessments of the flood losses with the IMF team during separate meetings.

The sources said that during the kick-off meeting, the IMF team observed that based on initial input there were no significant economic losses. However, the IMF said that it would wait for the damage assessment report, the sources added.

The global lender also saw no impact of the floods on the tax revenues. It underscored that the Federal Board of Revenue (FBR) should share the visible outcome of the transformation plan. Prime Minister Shehbaz Sharif had approved the transformation plan last year to revitalise the tax machinery and also gave over Rs55 billion for various initiatives under the plan.

The IMF’s observations about the impact of the floods came on the heel of the prime minister’s request to the IMF managing director to factor in the impacts of the floods during the review meetings. The IMF was apprised that the government could meet the flood-related spending from the contingency pool and it might not need additional resources, said the sources.

Pakistan-IMF review talks began on September 25, which are scheduled to continue until October 8. The successful culmination of these talks would pave the way for the release of two tranches, totalling over $1.2 billion under two different loan programmes.

Last Updated:October 05, 2025, 14:57 IST

Tata Consultancy Services will announce Q2 results and consider a 2nd interim dividend on October 9, 2025.

TCS to declare 2nd interim dividend on October 09.

TCS Dividend 2025 Record Date: IT major Tata Consultancy Services (TCS) is all set to kick off Q2 earnings season with the declaration of its quarterly results for the July-September period, 2025, on Thursday, October 09. The board will also consider the 2nd interim dividend for the financial year 2025-26.

In a stock exchange filing, TCS said, “A meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Thursday, October 9, 2025, to approve and take on record the audited standalone financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and six-month period ending September 30, 2025.”

TCS Dividend 2025 Record Date

TCS has also fixed the record date for the proposed 2nd interim dividend for FY2025-26. TCS added, “The second interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Wednesday, October 15, 2025, which is the Record Date fixed for the purpose.”

For Q1FY26, the board had declared an interim dividend of Rs 11 per share.

TCS Q1 FY26 Results

TCS had reported a 5.98 per cent rise year-on-year (YoY) in its net profit to Rs 12,760 crore for the first quarter ended June 30, 2025 (Q1 FY26). On a quarter-on-quarter (QoQ) basis, the net profit grew 4.38%.

It had reported a net profit of Rs 12,040 crore a year ago and Rs 12,224 crore in the previous quarter.

The Q1 FY26 earnings are better than expectations. A Bloomberg consensus poll of analysts had pegged TCS’ Q1 FY26 net profit growth at a muted 1.9% to Rs 12,263 crore.

The company’s revenue from operations during April-June 2025 stood at Rs 63,437 crore, which is 1.13 per cent higher as compared with the Rs 62,613 crore reported last year. On a sequential basis, the revenue fell 1.61%.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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