Category: Highlights

The Latest: Israel threatens Iran’s supreme leader as Iranian strikes wound over 200

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Israel-Iran

Iranian missiles hit a major hospital in southern Israel and struck residential buildings in Tel Aviv on Thursday, wounding 240 people and causing extensive damage. Israeli Defense Minister Israel Katz blamed Iran’s Supreme Leader Ayatollah Ali Khamenei and said the military “has been instructed and knows that in order to achieve all of its goals, this man absolutely should not continue to exist.” Israel, meanwhile, carried out strikes on Iran’s Arak heavy water reactor, its latest attack on Iran’s sprawling nuclear program. Iranian state television said there was “no radiation…

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US natural gas prices climb on lower output, higher demand

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natural gas prices

NEW YORK: US natural gas futures climbed about 2% to a 10-week high on lower daily output and forecasts for hotter weather and higher demand over the next two weeks than previously expected. That heat should prompt homes and businesses to crank up their air conditioners, which should push power generators to burn more gas to produce electricity to keep those air conditioners humming. Analyst said that heat would likely come at the same time some liquefied natural gas (LNG) export plants exit maintenance reductions, which should boost the amount…

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Oil prices jump as Israel-Iran conflict enters seventh day

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Oil prices

CALGARY: Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump’s stance on the conflict kept investors on edge. Brent crude futures rose $1.60, or 2.1%, to $78.29 a barrel by 1030 ET. U.S. West Texas Intermediate crude for Julywas up $1.64, or 2.1%, at $78.34. Brent had surged to its highest in nearly five months at $78.50 on June 13, when Israel began its attacks. Trading volumes were light on Thursday due to a U.S. federal holiday. The conflict…

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Pakistan reaffirms commitment to economic cooperation under SCO: Aurangzeb

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SCO

Federal Minister for Finance and Revenue Muhammad Aurangzeb has reaffirmed Pakistan’s strong commitment to the Shanghai Cooperation Organisation’s (SCO) economic cooperation agenda, a statement from the Finance Division said on Tuesday. The minister virtually addressed the meeting of SCO Finance Ministers and Central Bank Governors held in Beijing, saying he was unable to attend due to the ongoing annual budget session in Pakistan. In his address, the finance minister reaffirmed Pakistan’s dedication to the vision and principles of the SCO. “He emphasised that the SCO is an essential platform for promoting regional…

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Budgetary disillusionment runs high

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Budgetary

Citizens and entrepreneurs deserve a better deal. Acknowledging deep structural flaws and the need for fundamental reforms, Finance Minister Muhammad Aurangzeb has pledged to make the upcoming budget a strategic document, one that provides clear direction to an otherwise rudderless economy. Mr Aurangzeb was reported to have remarked in Islamabad last week, “We are going to introduce bold measures; as the budget is not merely about revenue and expenditure, it must also provide direction, reflecting where the economy stands and where it is headed.” While the statement resonates with the…

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