Category: Shortcode

Oil Prices Plunge 4% as U.S. Slaps 104% Tariffs on China, Demand Outlook Dims

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SINGAPORE/BEIJING: Oil prices tumbled to their lowest levels in over four years on Wednesday, rattled by escalating trade tensions between the United States and China, coupled with rising global supply concerns. The downturn follows the U.S. imposition of a staggering 104% tariff on Chinese imports, reigniting fears of a prolonged trade war and weakening fuel demand. Brent crude fell by $2.38, or 3.79%, to $60.44 per barrel, while U.S. West Texas Intermediate (WTI) dropped $2.46, or 4.13%, to $57.12 — both hitting their lowest since February 2021. Brent’s six-month spread…

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Pakistan, Saudi Arabia Explore Deeper Collaboration in Energy and Minerals Sectors

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ISLAMABAD: A high-level Saudi delegation led by Deputy Minister for Mining Abdulrahman Al-Belushi met with Pakistan’s Federal Minister for Petroleum, Ali Pervaiz Malik, to explore avenues for enhanced collaboration in the energy and minerals sectors. The meeting took place on the sidelines of the Pakistan Minerals Investment Forum 2025, highlighting growing bilateral ties and mutual investment interest. Minister Malik highlighted Pakistan’s immense potential in oil, gas, and mineral resources, reaffirming the government’s commitment to fostering a foreign investor-friendly environment. “We are focused on building an investor-conducive ecosystem, ensuring ease of…

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Jam Kamal Calls for global and local collaboration to unlock 95% unexplored reserves

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ISLAMABAD: Federal Minister for Commerce, Jam Kamal Khan, has called for ramped-up foreign and local investment to unlock Pakistan’s vast untapped mineral resources—nearly 95% of which remain unexplored. Speaking at the inaugural session of the Pakistan Minerals Investment Forum 2025, jointly hosted by the Oil and Gas Development Company Limited (OGDCL) and the Special Investment Facilitation Council (SIFC), Kamal underscored the immense potential lying beneath Pakistan’s soil. “You have a country where 95% of mineral resources are yet to be explored in the way they should be. This is a…

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TDAP CEO Zubair Motiwala Steps Down to Focus on Business

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TDAP CEO Zubair Motiwala Steps Down to Focus on Business January 24, 2025 KARACHI: Zubair Motiwala, Chief Executive of the Trade Development Authority of Pakistan (TDAP), has resigned from his position, citing personal reasons. Speaking to The News on Thursday, Motiwala confirmed his decision, stating, “I resigned to focus fully on my own business.” A renowned textile industrialist and exporter, Motiwala has held several prominent roles, including President of the Karachi Chamber of Commerce and Industry (KCCI), Chairperson of the SITE Association of Industry, and Chairperson of the Board of…

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Govt Confirms Hefty Salaries of Nepra Chairman and Members Amid Controversy

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ISLAMABAD: The federal government has confirmed that top officials of the National Electric Power Regulatory Authority (Nepra) granted themselves substantial salary hikes earlier this year—without prior cabinet approval—sparking renewed concerns over governance and transparency in regulatory bodies. Responding to a question in the National Assembly from MNA Shagufta Jumani, Minister Incharge for Cabinet Division Dr. Tariq Fazal Chaudhry revealed that Nepra’s chairman now draws a gross monthly salary exceeding Rs3.247 million, while each member earns more than Rs2.943 million. These figures exclude additional perks such as medical benefits and annual…

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