Category: Latest News

Pakistan Emerges Key Diplomatic Bridge as US–Iran Backchannel Opens

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iran-uae

ISLAMABAD: Pakistan has moved into the diplomatic spotlight on the 24th day of the US-Israel conflict with Iran, playing a pivotal role alongside Turkiye and Egypt in facilitating indirect communication between Washington and Tehran, officials said. The coordinated effort is being credited with helping secure a five-day pause in planned US strikes on Iranian energy and power infrastructure, announced by Donald Trump, who cited “productive conversations” with Iran that could potentially lead to a broader resolution. According to officials, the backchannel diplomacy involved indirect exchanges between US Special Envoy Steve…

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Total Energies Exits US Offshore Wind, Redirects $1bn to Oil and Gas

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Total-Energies

HOUSTON: French energy giant Total Energies and the United States government have agreed to redirect nearly $1 billion from offshore wind investments toward oil and natural gas development, signaling a major policy shift in US energy strategy. The move aligns with the administration of Donald Trump, which has actively discouraged offshore wind expansion while promoting domestic fossil fuel production. The company will halt development of new offshore wind projects in the US, while Washington will reimburse approximately $1 billion previously paid by TotalEnergies for lease acquisitions. US Interior Secretary Doug…

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Oil Prices Plunge 10% as US–Iran Talks Ease War Fears

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Oil-Price1

NEW YORK: Oil prices tumbled by around 10 percent on Monday, hitting a one-week low after Donald Trump announced a five-day postponement of potential US military strikes on Iranian power plants, citing constructive diplomatic talks aimed at de-escalating the ongoing Middle East conflict. Benchmark Brent crude futures dropped $11.17, or 10 percent, to $101.02 per barrel, while West Texas Intermediate (WTI) fell $9.28, or 9.5 percent, to $88.95. The decline followed weeks of extreme volatility, with Brent recently reaching its highest level since July 2022. The four-week-long conflict has severely…

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Is Dubai’s Future at Risk After Iranian Attacks?

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dubai

March 19, 2026Karachi (News Desk)Concerns are rising over the future of Dubai following reported Iranian attacks, which have significantly shaken the perception of safety in the Gulf’s leading financial hub.According to a report by The New York Times, more than 1,500 drones and over 260 ballistic missiles have been observed over the city since February 28. While most of these were intercepted, the sound of explosions has become a regular occurrence, raising alarm among residents and investors alike.The situation has prompted banks to instruct employees to work remotely, while many…

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Pakistani Markets Under Pressure from Oil Prices and Afghan Tensions: Bloomberg

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Oil prices

March 19, 2026Karachi (News Desk)Pakistan’s financial markets are facing mounting pressure due to rising global oil prices and ongoing tensions with Afghanistan, according to a report by Bloomberg.The report states that Pakistan’s dollar-denominated bonds are heading toward their largest monthly decline in three years. This downturn is largely attributed to escalating oil prices driven by regional conflict involving Iran, as well as heightened geopolitical tensions with Afghanistan.Eurobonds have also taken a hit, causing investors to incur losses of around 5%. Meanwhile, Pakistan’s ongoing negotiations with the International Monetary Fund (IMF)…

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