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ISLAMABAD: Chinese and Pakistani companies are moving forward to deepen collaboration under an existing memorandum of understanding (MoU), with a major focus on developing a 2,800-acre industrial and commercial hub in Nooriabad and expanding investments across key sectors. Federal Minister for the Board of Investment, Qaiser Ahmed Sheikh, chaired a high-level meeting with a delegation including Xiong Xianglong, Chen Meifen, Danish Ahmed, and Ahsan Jabbar. During the discussions, the Oasis Group presented its ongoing and upcoming projects, including Oasis Resorts Lahore and a portfolio of industrial, residential, and commercial developments.…

AMMAN/SINGAPORE: The ongoing conflict triggered by the US-Israeli attack on Iran has inflicted an estimated $186 billion loss on Arab economies within just one month, a senior United Nations official revealed, warning of severe and far-reaching economic consequences. Abdallah Al Dardari, speaking in Amman, said the war has slashed approximately 6% from the region’s GDP. He urged an immediate ceasefire, stressing that continued hostilities would further damage not only regional economies but also the global financial system. The oil-rich Gulf countries are bearing the brunt of the impact, with losses…

ISLAMABAD: Government officials have confirmed that liquefied natural gas (LNG) supplies are currently unavailable for power generation due to force majeure conditions, triggered by escalating geopolitical tensions and supply disruptions in global energy markets. The disclosure came during a public hearing of the National Electric Power Regulatory Authority (Nepra), where officials explained that circumstances beyond control—primarily the ongoing conflict involving the United States, Israel, and Iran—have severely impacted LNG availability. Responding to queries, Rehan Akhtar, Chief Executive Officer of the Central Power Purchasing Agency (CPPA), stated that LNG-based power plants,…

ISLAMABAD: The federal government, in consultation with provincial administrations, is preparing for another significant increase in petrol and diesel prices within the coming days, aiming to partially pass on the rising import costs to consumers while protecting vulnerable segments. According to senior officials, the exact hike will depend on global market fluctuations, with authorities not ruling out a full pass-through of international prices. However, targeted subsidies are expected for key groups, including motorcyclists and farmers, to cushion the impact. Currently, the price gap stands at approximately Rs100 per litre for…