Author: Admin

NEW YORK: Global oil prices jumped nearly 4% on Tuesday, reaching their highest levels in about a week, as renewed fighting between the United States and Iran intensified concerns over potential disruptions to Middle Eastern oil supplies. Brent crude futures rose $3.44, or 3.8%, to $93.93 a barrel, while US West Texas Intermediate (WTI) crude gained $3.72, or 4.3%, to $89.48. The gains put Brent on track for its highest close since August 20 and WTI for its strongest close since July 23. Oil prices had already begun rising following…

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KARACHI: Karachi’s industrial sector has voiced growing concern over high electricity tariffs and additional charges, warning that rising energy costs are undermining production, exports and the competitiveness of Pakistani products in regional and international markets. At a meeting with members of the Korangi Association of Trade and Industry (KATI), K-Electric Board Chairman Shaheryar Chishti said the utility was investing Rs15 billion to upgrade its power infrastructure and improve the reliability of electricity supplies to industrial consumers. He said the investment would cover the installation of new cables and wires, grid…

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DHAKA: Bangladesh has launched a new incentive programme for rooftop solar systems equipped with battery storage as the country struggles with severe power shortages and seeks to reduce its dependence on imported fossil fuels. Under the programme, consumers installing eligible rooftop solar systems by February 28, 2027 will receive 10.50 taka ($0.086) per kilowatt-hour for surplus electricity supplied to the national grid for three years, according to a government notification. The initiative comes as Bangladesh faces its worst electricity shortages in years. Power shortfalls reached nearly 4,000 megawatts at their…

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WASHINGTON/CAIRO: The United States and Iran have resumed heavy attacks after weeks of relative calm, with both sides exchanging strikes and issuing fresh threats of escalation, raising concerns that the conflict could enter a more dangerous phase. The US military’s Central Command said it carried out a new wave of strikes against Islamic Revolutionary Guard Corps (IRGC) targets on Tuesday, including air defence and radar systems, maritime assets, mine-laying capabilities and communications facilities. Iranian media reported attacks on several targets across the country, many of them near the Strait of…

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ISLAMABAD: Pakistan and Uzbekistan have set an ambitious target of increasing bilateral trade to $2 billion within the next five years, while direct air connectivity between the two countries is expected to expand to nine weekly flights by October 2026, reflecting growing economic and strategic cooperation. The announcement was made at a reception hosted by the Embassy of Uzbekistan in Islamabad to mark the country’s 35th Independence Day. The event was attended by Federal Minister for Energy Sardar Awais Ahmad Khan Leghari, senior officials, diplomats, parliamentarians and business leaders. Uzbekistan’s…

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