Analysts have estimated a loss of 7 million to 10 million barrels per day of Middle East oil production due to ongoing war. PHOTO: PEXELS Oil prices jumped almost 3% on Monday as peace talks between the United States and Iran stalled and shipments through the Strait of Hormuz remained limited, keeping global oil supplies…
STOXX 600 flat as oil and gas index jumps 8%; ECB and Bank of England meetings in focus this week European shares were muted on Monday, as investors prepared for a week packed with central bank meetings, while oil prices rose with United States-Iran peace talks stalling again. US President Donald Trump cancelled a trip…
State Bank of Pakistan. Photo: File In a move that defied market expectations, the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) announced a sharp 100 basis point increase in the policy rate, raising it to 11.5%, effective April 28, 2026. The decision, revealed after the MPC meeting held earlier today, caught analysts off…
Rising diversification in reserves, payments and energy trade signals slow erosion of dollar centrality KARACHI: US global dominance has long rested on two key pillars: the petrodollar system and the US Treasury bond market. In exchange for security guarantees to oil-rich Gulf monarchies, Washington ensured that their oil is priced and sold in dollars and…
Transshipment surges at Karachi Port, clean energy shift gains pace amid ME conflict Components of the Dwight D. Eisenhower Carrier Strike Group (IKECSG), guided-missile destroyer USS Stethem (DDG 63) and French Navy frigate FS Languedoc (D 653) transit the Strait of Hormuz on November 25, 2023. PHOTO: REUTERS KARACHI: The US-Iran war and the consequential…
Policy tweaks, particularly shift to net billing, impeding further solar adoption APTMA has been constantly blaming the FBR for its lack of commitment in implementing the agreement it signed with the textile industry regarding the resumption of zero-rated tax regime. PHOTO: FILE FAISALABAD: Pakistan’s textile sector, the backbone of its export economy, is once again…
Islamabad finds itself positioned between much-needed infusion of regional liquidity and looming global energy crisis The government has agreed to the need for a mini-budget if revenues fall short of expectations by end-December 2025, according to the IMF. Photo: file ISLAMABAD: The conclusion of the 2026 Spring Meetings of the International Monetary Fund (IMF) and…
Govt must let prices reflect costs and replace blanket subsidies with targeted cash support Kerosene oil. ISLAMABAD: When war returns to the Middle East, oil stops being a commodity and becomes a headline. The latest bout of conflict has again injected fear into energy markets, lifted freight and insurance costs, and pushed crude benchmarks upward….
Notification says new transit routes announced under order; Gwadar, Karachi and Taftan designated for cargo movement The government has notified the Transit of Goods Order 2026, formally allowing the transportation of goods to Iran through Pakistan under a defined legal and regulatory framework, a notification said on Sunday. Issued under the Imports and Exports (Control)…
ISLAMABAD: The International Monetary Fund (IMF) has endorsed a new formula to fix prices of high-speed diesel, which has addressed the issue of windfall gains to oil refineries due to the Middle East war and helped keep diesel prices lower by Rs100 per litre for this week. Without any change in the formula, the diesel…