Investment minister’s protest rejected; inquiry ordered into lack of competitive bidding ISLAMABAD: The Economic Coordination Committee (ECC) on Tuesday overruled objections raised by Investment Minister Qaiser Sheikh, who had opposed the 30-year lease extension for the Engro Vopak Terminal by declaring it a violation of public procurement rules. Headed by Finance Minister Muhammad Aurangzeb, the…
Lifeguards watch beachgoers as they bathe at the Beach of Catalans on a sunny and warm summer day in Marseille as an early summer heatwave hits France, July 1 , 2025. REUTERS/Manon Cruz France braced for another heat wave on Wednesday, with Paris allowing swimming in one of its canals so residents could cope with…
Says reforms created space for tax cuts, housing incentives & support for exporters, farmers and low-income households Information Minister Attaullah Tarar addressing a media briefing. SCREENGRAB ISLAMABAD: Information Minister Attaullah Tarar on Wednesday described the upcoming fiscal year’s budget as “relief-oriented”, saying the country had moved from the risk of economic default towards stabilisation following…
KARACHI: Pakistan Stock Exchange (PSX) on Tuesday extended its record-setting rally as investors continued to engage in aggressive buying amid growing confidence in the country’s economic outlook and easing geopolitical tensions in the region. The benchmark KSE-100 index gained 3,353.15 points, or 1.89%, to close at 180,392.98, after touching the intra-day high of 180,503.55 and…
Total development outlay set at over Rs656 billion, Rs641 billion allocated for the Provincial Development Programme Sindh Chief Minister Murad Ali Shah chairs a cabinet meeting to approve Budget 2026-27. SCREENGRAB KARACHI: The Sindh cabinet on Wednesday approved the provincial budget for the 2026-27 financial year, which Chief Minister Murad Ali Shah would present during…
Deputy Prime Minister and Foreign Minister Ishaq Dar on Wednesday said Pakistan facilitated the repatriation of 30 Iranian nationals, including eight fishermen rescued at sea by a British vessel and 22 crew members from a vessel recently interdicted by US authorities. In a post on X, FM Dar said the group included eight Iranian fishermen…
NEW YORK: Oil prices fell about 5% to a three-month low on Tuesday as traders hoped the US and Iran would agree to end the war and allow oil to flow through the Strait of Hormuz. Prices, which were already down about 4% Tuesday morning, extended those losses following a Wall Street Journal report that…
Negotiations on final deal start immediately after Swiss signing ceremony and continue during 60-day window Brent futures rose $1.46, or 1.6%, to $91.36 a barrel by 10:38 am EDT, while US West Texas Intermediate (WTI) crude rose $1.45, or 1.7%, to $88.11. PHOTO: REUTERS/FILE The first tankers carrying Iranian oil exited a US blockade in…
Meeting reviews cooperation in counter-terrorism, illegal migration, institutional collaboration, and police training The United Kingdom’s Minister for the Middle East, Afghanistan, and Pakistan, Hamish Falconer meets with Interior Minister Mohsin Naqvi in Islamabad. SCREENGRAB The United Kingdom’s Minister for the Middle East, Afghanistan, and Pakistan, Hamish Falconer, said on Wednesday that the recent US-Iran rapprochement…
LAHORE: Punjab has not introduced any new tax in its budget for fiscal year 2026-27, offering some relief to the province’s cash-strapped residents. However, the government plans to raise the rates of several existing taxes to meet its revenue targets. The proposed Finance Bill 2026 seeks higher rates for token tax, Abyana (water tax) and…