Category: Popular News

US Strikes on Iran Spark Fears of Oil Price Surge and Global Market Volatility

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oil-Price

NEW YORK: A United States strike on Iranian nuclear facilities is raising alarm bells in global financial markets, with experts warning of a surge in oil prices and increased volatility amid deepening geopolitical tensions. While Gulf stock markets appeared to take the news in stride during Sunday trading—with indexes in Saudi Arabia, Qatar, and Kuwait remaining flat or slightly up—investors are bracing for a more dramatic reaction when major global markets reopen. “This will blanket markets in uncertainty,” said Mark Spindel, Chief Investment Officer at Potomac River Capital. “Oil will…

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Iran plans to shut Strait of Hormuz: How it may shake global oil and why India is at risk too

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shut strait of hormuz

Iran plans to shut Strait of Hormuz: How it may shake global oil and why India is at risk too In a sharp escalation following US airstrikes on its nuclear facilities, Iran’s parliament on Sunday approved a proposal to close the Strait of Hormuz, one of the world’s most critical oil shipping routes. The move, reported by state-run Press TV on Sunday, signals Tehran’s willingness to hit back economically. Brigadier General Alireza Tangsiri, commander of the IRGC Navy, reportedly issued a stark warning: “The Strait of Hormuz will be closed…

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Energy Update and PSA holds Webinar

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EU-PSA

Taxing solar panels & change in Net-metering policy hurts solar growth and environment experts warn Karachi: The imposition of General Sales Tax (GST) on import of solar panels, regardless of the final tax rate decided by the federal government, will not slow down Pakistan’s accelerating transition to renewable energy. This progress is driven by the unwavering commitment of end-consumers and businesses dedicated to improving environmental conditions and reducing the carbon footprint of Pakistan’s power sector. This was the collective view expressed by clean energy experts, industrialists, climate activists, and renewable…

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Govt Hires KPMG to Finalise Domestic Gas Price Hike from July 2025

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OGRA-GAS

ISLAMABAD: In an unprecedented move, the Petroleum Division has engaged leading audit firm KPMG to determine which categories of domestic gas consumers will face a price hike starting July 1, 2025, under a broader reform agenda aligned with IMF conditions. A senior Energy Ministry official confirmed that it is the first time an external consultancy has been tasked with advising the government on sale gas price adjustments. KPMG’s recommendations will guide which consumer slabs should absorb the increase, ensuring zero financial shortfall for state-owned gas utilities. This development follows Ogra’s…

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Pakistan Seeks Russian Investment in Mining Sector at SPIEF 2025

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iran-russia

ISLAMABAD: Federal Minister for Energy Ali Pervaiz Malik is leading Pakistan’s delegation to the St. Petersburg International Economic Forum (SPIEF) 2025, where he is actively pursuing Russian investment in Pakistan’s mining sector. During key bilateral meetings on the sidelines of the forum, Malik met with Russian Energy Minister Sergei Tsivilev, who also co-chairs the Pakistan-Russia Inter-Governmental Commission (IGC). Both sides discussed deepening cooperation in energy, trade, investment, banking, insurance, mining, and people-to-people exchanges. Russia reaffirmed its interest in enhancing bilateral ties and welcomed the upcoming 10th session of the IGC,…

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