World’s third-biggest oil importer and consumer, India has not received a cargo from Tehran since May 2019 Kerosene oil. BENGALURU: Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday. The world’s third-biggest oil importer and consumer, India has…
Ministers from Germany, Italy, Spain, Portugal and Austria say companies must help ‘ease burden’ BERLIN: Five European Union countries are calling for a windfall tax on energy companies’ profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on…
Industry experts warn CKD imports fuel trade deficit as localisation fails to keep pace The three Japanese carmakers lacked innovation and competitiveness, despite the incentives offered to them in the previous policies, said government officials as they announced the auto policy. PHOTO: FILE KARACHI: In the last two auto policies, the government aimed to increase…
ISLAMABAD: Pakistan is considering introducing a further reduction in gas supplies to domestic consumers through rationing amid the deepening Middle East war, which has disrupted oil and gas transportation through the region. However, the ministers in a committee constituted to review energy matters opposed any gas rationing plan with the argument that it would result…
Chamber says research fails to reach practical application due to lack of direct coordination LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Faheemur Rehman Saigol chaired a meeting of the LCCI Standing Committee on Industry-Academia Linkages to discuss practical ways to strengthen cooperation between educational institutions and the industrial sector, according to a statement…
Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express KARACHI: Pakistan’s stock market remained under pressure during the outgoing week as persistent geopolitical tensions and surging global oil prices kept investor sentiment fragile, leading to…
Customs process 10 complaints as terminal operators agree to demurrage relief for export containers Hang Tong got stuck due to high sea waves and faulty engine while it was returning after offloading shipments at the Karachi port. PHOTO COURTESY: MMNEWS.TV ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has said shipping agents assured…
Punjab links transport permits to motor insurance via digital system to strengthen compliance ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved the country’s first Shariah-compliant credit risk-sharing product, enabling Islamic financial institutions to expand financing to underserved sectors such as micro, small and medium enterprises (MSMEs) and agriculture. According to an official…
Weak enforcement measures against illegal manufacturing, smuggling fuel revenue gap LAHORE: Effective control over tax evasion in the tobacco sector can significantly reduce the revenue deficit and enable the government to better withstand internal and external economic pressures. The evolving situation in the Middle East, coupled with the failure to meet tax targets, is putting…
Dairy, food sectors sensitive to energy fluctuations, logistics inefficiencies, meeting told International experience shows that trade tends to stabilise border regions by creating employment, formalising economic activity, and aligning local incentives with peace and continuity. Photo: file ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan held a meeting with Romina Khurshid Alam, coordinator to the…