Category: Latest News

ISLAMABAD: The Islamabad Electric Supply Company has announced the implementation of load management measures following a reduction in electricity generation linked to the ongoing global petroleum crisis. According to an official spokesperson, the recent surge in petroleum prices and disruption in international supply chains have impacted power generation capacity, prompting controlled power outages across its service areas. The utility stated that load management of equal duration is being carried out in both urban and rural regions, as required. Consumers have been advised to consult the updated outage schedule available on…

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KARACHI: Widespread and unannounced gas outages by Sui Southern Gas Company have severely disrupted daily life across Karachi, leaving residents struggling to manage basic household needs despite official claims of uninterrupted supply during designated meal hours. The utility maintains that gas is being provided to domestic consumers from 6am to 10:30pm. However, citizens across multiple localities report persistent and unpredictable load-shedding over the past two weeks, often coinciding with peak cooking times. The shortages have forced many residents to seek alternatives, with long queues observed at roadside eateries and naan…

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LONDON: Oil prices surged past $100 per barrel on Monday, while global equities came under pressure, as a US-imposed blockade on Iranian ports intensified fears of a prolonged disruption to Middle East energy supplies. Benchmark Brent crude rose 6.5% to $101.38 a barrel, while West Texas Intermediate climbed 6.2% to $102.58, reflecting heightened geopolitical risk premiums in energy markets. The escalation follows the collapse of ceasefire talks between Washington and Tehran, dampening hopes for a resolution to the ongoing US-Iran War that has rattled global economies. Investor sentiment weakened further…

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WASHINGTON: A severe global energy shock triggered by the US-Iran War dominated discussions at the World Bank-IMF Spring Meetings, where Finance Minister Muhammad Aurangzeb held a series of high-level engagements aimed at stabilising Pakistan’s economy under mounting external pressures. Global institutions including the International Monetary Fund, World Bank Group and International Energy Agency warned that the conflict has triggered one of the most severe disruptions in modern energy markets. Oil prices have surged by nearly 50%, shipping through the Strait of Hormuz has been disrupted, and global supply chains for…

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