Category: Latest News

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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ISLAMABAD/KARACHI: Pakistan’s first lithium-ion battery manufacturing facility is set to become operational in Karachi’s Korangi Industrial Area, marking a major step toward developing a domestic energy storage industry as the National Lithium-Ion Battery Manufacturing Policy 2026–31 moves closer to approval. According to stakeholders, the proposed plant will initially focus on producing lithium batteries for electric bikes, e-scooters, and electric vehicles, helping reduce reliance on imported battery systems. The development was shared during a meeting chaired by Engineering Development Board (Engineering Development Board) Chief Executive Hammad Mansoor, who confirmed that the…

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ISLAMABAD: High-level negotiations between the United States and Iran ended without agreement after nearly 21 hours of intensive talks in Islamabad, with both sides blaming each other for the breakdown. Speaking before departing for Washington, US Vice President JD Vance said the talks stalled because Tehran refused to commit to abandoning its pursuit of nuclear weapons capability. “The bad news is that we have not reached an agreement, and I think that’s bad news for Iran much more than it is for the US,” Vance stated, adding that Washington’s core…

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