ISLAMABAD: Pakistan has failed to attract foreign oil suppliers to set up bonded oil storages due to issues in a 2023 policy, sources told The Express Tribune. The government is now amending the policy to create a favourable environment for foreign suppliers. The Iran-US war exposed Pakistan to oil shortages when Iran closed the Strait…
Singapore-flagged Ever Lovely hit on starboard side, initial inspections showed damage to the bridge windows Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 24, 2026. REUTERS The UN International Maritime Organisation paused its operation to escort ships through the Strait of Hormuz on Thursday after a vessel reported an attack, reigniting concerns about…
Implementation of the nearly Rs18.71 trillion federal budget for FY2026-27 will officially begin on July 1 ISLAMABAD: President Asif Ali Zardari on Thursday signed the Finance Bill 2026-27 after its passage by parliament, clearing the way for the federal budget to come into force from July 1 following its publication in the official gazette. With…
73% of investors endorse Pakistan but ranking falls from 7th to 9th in regional rankings KARACHI: Pakistan’s foreign direct investment (FDI) is facing a paradox: foreign investors have become increasingly optimistic about Pakistan’s economic prospects and are more willing to recommend the country as a destination for fresh FDI, but the country continues to lag…
KARACHI: Amid growing discussions over the potential easing of sanctions on Iran, attention has once again turned to reviving Pakistan-Iran trade, with both countries having previously expressed ambitions to increase bilateral trade to $10 billion. Pakistan and Iran enjoyed robust trade relations before sanctions on Tehran intensified more than a decade ago, with bilateral trade…
LAHORE: Pakistan is increasingly being recognised as a global ‘peacemaker’ and an emerging ‘middle power’, following its mediation role to end the war between the United States and Iran, Deputy Prime Minister and Foreign Minister Ishaq Dar said on Thursday. Speaking to the media at Data Darbar in Lahore, Dar said the country’s role in…
ISLAMABAD: The Central Development Working Party (CDWP) has approved 15 development projects worth Rs34.740 billion and recommended nine major projects with a cumulative cost of Rs431.022 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration. The meeting was chaired by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal…
WASHINGTON: The US Supreme Court handed President Donald Trump a victory on Thursday by backing the federal government’s authority to turn away asylum seekers when officials deem U.S.-Mexico border crossings too overburdened to handle additional claims. The court, in a 6-3 ruling powered by its conservative justices, overturned a lower court’s finding that the policy…
. ANTIBES, FRANCE: French President Emmanuel Macron and Italy’s right-wing leader Giorgia Meloni on Thursday kept a united front as they sought to deepen cooperation in defence, space and energy after years of often testy ties. Meloni, fresh from her public fallout with US President Donald Trump, met Macron in the resort town of Antibes…
Death toll reaches 188; crowd-sourced website lists more than 35,000 people as unaccounted for People search for casualties amid the rubble of collapsed buildings, in the aftermath of earthquakes in La Guaira, Venezuela. Photo: REUTERS LA GUAIRA/CARACAS: Thousands of Venezuelans were feared dead on Thursday after two powerful earthquakes, including the country’s strongest in over…