Category: Latest News

HONG KONG: Global equity markets mostly extended gains on Tuesday, while oil prices remained largely stable after a sharp decline triggered by optimism surrounding the recently announced US-Iran peace agreement, which is expected to reopen the strategically vital Strait of Hormuz. Investor sentiment remained positive following Monday’s strong rally, fueled by expectations that the agreement could bring an end to more than three months of conflict that disrupted global energy supplies, heightened geopolitical tensions, and contributed to inflationary pressures worldwide. Attention is now focused on a formal signing ceremony scheduled…

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MACAO: Chairman WAPDA, Lt Gen Muhammad Saeed (Retd), has highlighted Pakistan’s immense potential as an attractive destination for infrastructure investment, emphasizing the country’s strategic location, growing development portfolio, and strong international partnerships, particularly with China. Leading a three-member delegation, the WAPDA Chairman represented Pakistan at the 17th International Infrastructure Investment and Construction Forum (IIICF) held in Macao Special Administrative Region. The three-day event is jointly organized by the China International Contractors Association and the Macao Commerce and Investment Promotion Institute. Established in 2010, the IIICF has emerged as a key…

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PARIS/TEHRAN: The United States and Iran have signed a preliminary agreement aimed at ending months of conflict involving the US, Israel and Iran, marking a significant diplomatic breakthrough. However, key details of the accord remain undisclosed, and officials from both countries have emphasized that negotiations for a permanent peace settlement are still ongoing. US President Donald Trump announced on Monday that the agreement had been finalized, describing it as an important step toward ending the war that has destabilized the Middle East and disrupted global energy markets. “The deal’s all…

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ISLAMABAD: The Economic Coordination Committee (ECC) is set to revisit its decision to grant a 30-year lease extension to Engro Vopak Terminal Limited (EVTL) after Investment Minister Qaiser Sheikh raised serious objections, alleging violations of public procurement rules and warning of adverse impacts on competition in Pakistan’s petrochemical sector. In a letter addressed to ECC Chairman and Finance Minister Muhammad Aurangzeb, Sheikh protested that his opposition to the lease extension was not recorded in the official minutes of the ECC meeting held on June 5. He argued that the approval…

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The Federal Board of Revenue (FBR) has clarified that no new taxes have been imposed on solar panels in the federal budget 2026-27, while noting that the rising adoption of solar energy has helped ease pressure on electricity prices for consumers. Speaking during a technical briefing on the budget, FBR officials said the measures introduced were focused largely on enforcement and broadening the tax base rather than imposing significant new taxes. FBR Member Inland Revenue Hamid Atiq Sarwar said the budget does not include any fresh taxation on solar panels,…

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