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Venezuela Bonds Rally as IMF Resumes Formal Contact with Caracas

Venezuela’s dollar bonds are rallying on Friday as the International Monetary Fund’s decision to resume contact with authorities in Caracas lifts investor sentiment toward the nation’s defaulted debt.

Oil and gas prices fall nearly 10% after Iran says strait of Hormuz is open

Brent crude drops and gas prices slide amid hopes Donald Trump will succeed in reaching deal with TehranOil and gas prices tumbled by almost 10% on Friday after Iran said the strait of Hormuz would open to commercial shipping, potentially clearing the way for tankers holding millions of barrels of oil and gas to reach the global market.Iran’s foreign minister said that vessels would be free to transit the strait of Hormuz for the duration of the 10-day ceasefire between Israel and Lebanon struck...

Pakistan re-entres global bond markets after four years with $500m Eurobond

BusinessMust ReadPakistan re-entres global bond markets after four years with $500m EurobondBy Web Desk-Apr 17, 2026ISLAMABAD: Pakistan has successfully re-entered international financial markets after a gap of four years, issuing a $500 million Eurobond, according to an official statement. The bond has been issued for a three-year tenure, marking a significant step in the country’s efforts to restore investor confidence and strengthen its external financing position. Despite challenging global...

The Iran war has caused the cost of jet fuel to surge. Here's how travelers are impacted.

Since the war in Iran began, the cost of jet fuel has doubled due to shortages. Now, the head of the International Energy Agency says Europe has "maybe six weeks or so" of jet fuel left if disruptions in the Strait of Hormuz continue. Airlines around the world are now canceling flights and increasing fares and fees. Kris Van Cleave explains.

What will it take to bring back US naval production?

Years of budget shortfalls led to a decline in Navy force levels from a Reagan-era peak of 597 warships in 1987, to 293 battle force ships as of October 1 2025. The fiscal 2026 budget plan for 19 new ships marked a serious reversal of that trend. The new fiscal 2027 budget adds 18 battle…

Long lines form at tribal gas stations as drivers chase steep discounts amid high fuel costs

Many drivers across the U.S. are flocking to tribal gas stations as a way to save money, amid high fuel prices during the ongoing Iran conflict.In Washington state, one driver said she went out of her way to fill up her car's gas tank on tribal land after noticing a significant price difference."I purposely drove here just for the gas," traveler Junelle Lewis told The Associated Press while filling up her SUV at a station on the Tulalip Reservation.  'GAS STATION HEROIN' BANNED IN ANOTHER STATE...

From Hormuz to household finance: How global oil shocks can filter into Indian homes

Global oil markets face turmoil due to the Iran-US conflict and Strait of Hormuz disruptions. India, heavily reliant on oil imports, feels the pinch through rising inflation and borrowing costs. The Reserve Bank of India monitors the situation, opting for stability over aggressive action. Households may experience a gradual tightening of budgets as costs rise and monetary easing is delayed.

Cargo traffic via North - South corridor rises amid Middle East situation

According to Russian Deputy Prime Minister Marat Khusnullin, Russia continues to ship goods via countries in Central Asia, as well as Afghanistan and Pakistan, and by road routes through countries of the Persian Gulf

Oil prices drop sharply and global markets surge as Strait of Hormuz reopened

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Deputy head of IMF joins business leaders in warning banks against AI models

Global financial leaders are raising concerns about new AI models from US tech firms, fearing they could exploit cyber vulnerabilities in the banking sector. The rapid advancement of AI, exemplified by Anthropic's Claude Mythos, presents a significant challenge, prompting urgent calls for robust governance frameworks to prevent misuse and safeguard economies.

Iran Conflict Poses Risk to Global Economy, IMF Members to Say

The conflict in the Middle East is a major shock that poses a “serious threat to the global economy” and will hit the poorest countries the hardest, according to a statement expected to be released by the Chair of the International Monetary and Financial Committee Friday.

Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire

Oil prices plunge as Iran says Strait of Hormuz 'open' during ceasefire8 minutes agoShareSaveAdd as preferred on GoogleArchie MitchellBusiness reporterGetty ImagesOil prices have plummeted after Iran said the Strait of Hormuz would be "completely open" to commercial ships for the remainder of the ceasefire.The cost of a barrel of Brent crude fell to $88 dollars a barrel, having been above $98 earlier on Friday.The Strait of Hormuz is a narrow strip of water linking the Gulf t...

Power generation increases in Pakistan

PakistanPower generation increases in PakistanBy Web Desk-Apr 17, 2026ISLAMABAD: The Power Division of Pakistan has said a surge in water releases from dams has significantly boosted hydropower generation, helping ease pressure on the national grid. A spokesperson for the power division said water discharge from dams was increased last night from 8,000 to 30,000 cusecs, resulting in the generation of an additional 2,300 megawatts of electricity. Total hydropower generation rose from 1,800 megawa...

Banks and Private Credit Pitch CVC for Recordati Buyout Debt

Banks and private credit lenders are looking to provide a large-scale financing package to back CVC Capital Partners’ attempt to buy Italian drugmaker Recordati SpA, people with knowledge of the matter said.

Digital gold, ETFs or SGBs: Where should you invest this Akshaya Tritiya?

Digital gold ETFs or SGBs Where should you invest this Akshaya Tritiya

Portuguese media say Ruben Amorim was RIGHT about Man Utd – 'His decisions were correct'

Portuguese media say Ruben Amorim was RIGHT about Man Utd – 'His decisions were correct'Manchester United have gone from strength to strength under Michael Carrick reports overseas believes the club may have still sacked Ruben Amorim before his timeCommentsSportTom Sunderland Sports writer15:06, 17 Apr 2026View 2 ImagesManchester United may have sacked Ruben Amorim prematurely, claims one Portuguese journalist(Image: Manchester United via Getty Images)Michael Carrick's swift progr...

Iran says Strait of Hormuz open for commercial vessels after Lebanon deal

Iranian Foreign Minister Abbas Araqchi said on Friday that the Strait of Hormuz, vital for the global trade in oil and other commodities, was open following a ceasefire accord agreed in Lebanon. Araqchi said in a post on X that the Strait was open for all commercial vessels for the “remaining period of ceasefire”. It was not immediately clear whether he was speaking of the 10-day truce agreed by Lebanon and Israel that went into effect at midnight or an earlier two-week truce between Iran and th...

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Gautam Adani overtakes Mukesh Ambani as Asia’s richest person; check global rankings

According to the latest wealth rankings, Adani’s net worth has reached $92.6 billion, placing him ahead of Ambani, whose fortune is estimated at $90.8 billion. This shift has positioned Adani at the top spot both in India and across Asia.

Dollar and other Currency Rates in Pakistan Today – April 17, 2026

BusinessPakistanDollar and other Currency Rates in Pakistan Today - April 17, 2026By Web Desk-Apr 17, 2026KARACHI – April 17, 2026 – The State Bank of Pakistan (SBP) on Friday issued the official currency rates for the day, showing mixed movements across major global currencies. While the US Dollar (USD) remained largely stable against the Pakistani Rupee (PKR), high-value Middle Eastern currencies, including the Kuwaiti Dinar and Bahraini Dinar, continued to dominate as the most expensive in th...