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Planning minister advocates for revising market timings to rein in oil import bill
Planning Minister Ahsan Iqbal on Saturday advocated for the revision of market timings to cut down on oil usage by saving electricity, as the country faces rising import costs amid the global oil crisis. Addressing a press conference in Lahore, Iqbal stressed the need to reduce energy spending to combat the economic difficulties arising from the ongoing war. Pointing out that Pakistan generated electricity using imported fuel, the planning minister emphasised the need to “bring efficiency in the...
Former US air force master sergeant pleads guilty to defrauding military out of $37m
Alan Hayward James, who called himself ‘Al Capone’, admitted to rigging bids for IT contracts with PentagonA former US air force master sergeant who nicknamed himself “Al Capone” has pleaded guilty to defrauding the military branch out of $37m by inflating the cost of IT contracts – and giving some of the extra money to an individual he called “Godfather”.Alan Hayward James, from Texas, ran a nine-year scam, beginning in April 2016, which also saw him funnel excess funds to himself, his family a...
PSX ends in red amid oil shock
Pakistan's stock market remained under pressure during the outgoing week as persistent geopolitical tensions and surging global oil prices kept investor sentiment fragile, leading to continued volatility at the bourse. The benchmark KSE-100 index closed at 150,399, posting a decline of 1,309 points, or 0.9% week-on-week. On a day-on-day basis, the Pakistan Stock Exchange (PSX) commenced the week with a negative session as the KSE-100 declined by 4,865 points (-3.21%), settling at 146,8...
SECP clears first Shariah credit guarantee
The Securities and Exchange Commission of Pakistan (SECP) has approved the country's first Shariah-compliant credit risk-sharing product, enabling Islamic financial institutions to expand financing to underserved sectors such as micro, small and medium enterprises (MSMEs) and agriculture. According to an official statement issued on Saturday, the product was developed by the National Credit Guarantee Company Limited (NCGCL). It reduces credit risk through a risk-sharing mechanism while...
'No war surcharges on shipments'
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has said shipping agents assured that no war-related surcharges are being imposed on in-transit shipments or shipments on other routes. Speaking at a high-level meeting addressing challenges faced by Pakistan's importers and exporters, the minister highlighted proactive measures already in place, according to an official statement issued on Saturday. Customs authorities have issued circulars urging traders to report...
Auto policy draws flak over import reliance
In the last two auto policies, the government aimed to increase competition in the auto sector by lowering entry barriers through tax incentives, an objective the country has largely achieved. The sector now stands at a point where it is necessary to push new entrants to begin localising parts of their vehicles so that it becomes productive, creates jobs and adds value, rather than remaining consumption-driven and placing a burden on already strained foreign exchange reserves. "Pakis...
Gulf oil exporters seek alternative routes amid Hormuz disruptions
The ongoing conflict involving the United States, Israel and Iran has disrupted shipping through the Strait of Hormuz for over a month, prompting major Gulf oil producers to accelerate efforts to secure alternative export routes.
Carbon credit deal
Despite the poor choice of date, the April 1 carbon credit agreement inked between Pakistan and Norway in Islamabad is no joke. The deal could end up benefiting Pakistan several times over, as it would put money in state coffers for investing in green solutions. The deal is Islamabad's first bilateral carbon market agreement under the COP21 Paris Agreement and establishes a framework for Pakistan to develop carbon-credit projects in renewable energy, agriculture, transport and waste ma...
Oman unveils plan for sustainable growth under five-year plan
The Ministry for Economy of Oman has issued the Strategic Programs Volume for the Eleventh Five-Year Development Plan (2026–2030), marking a key step in advancing its long-term development agenda under Oman Vision 2040. Approved by Royal Decree No. 1/2026, the plan outlines 190 programs spanning 12 national priorities, structured across four pillars: People and Society, Economy and Development, Sustainable Environment, and Governance and Institutional Performance. The document provides detailed...
Fuel stations bracing for demand surge after Easter breaks amid 'shortage' threat
The warning came as around one-fifth of the world’s oil and liquefied natural gas supplies reportedly remain trapped in the Gulf following Iran’s near closure of the Strait of Hormuz, causing prices to rise
PM Shehbaz says govt begins providing relief funds through digital wallets
Prime Minister Shehbaz Sharif on Saturday said that the disbursement of relief funds to public transport operators and goods vehicle drivers through digital wallets has already begun, as part of the government’s efforts to support citizens amid recent regional tensions. In a statement issued by the Prime Minister's Office today said that PM Shehbaz chaired a review meeting on petroleum product reserves and the implementation of government relief measures for the public. Speaking...
Data Center: Mega Project Worth Over 1 Billion MAD Planned in Nouaceur
Rabat – Nexus Core Systems, together with its international partners, has selected the outskirts of Casablanca to build a next-generation data center dedicated to artificial intelligence, representing a massive $1.2 billion investment that underscores Morocco’s growing technological ambitions. The project highlights Morocco’s increasing role in advanced digital infrastructure. The data center is designed to reach a target capacity of 500 megawatts and will run entirely on renewable energy, with...
12 million pensioners to get ‘up to £575’ more from next week
12 million pensioners to get ‘up to £575’ more from next weekA number of major changes will affect state pensioners from April 6CommentsMoneySamantha Leathers Senior Money & Lifestyle writer14:01, 04 Apr 2026Updated 14:02, 04 Apr 2026View 3 ImagesState pension rates will be rising by up to £575 from April 6, 2026(Image: GETTY)The start of the new financial year on April 6 will bring a number of major changes for anyone receiving state pension payments. Pensions Minister Torsten Bell noted th...
Easter Candy Sales Decline
Easter candy sales experienced a 5% decline this year, primarily driven by reduced chocolate purchases. Bloomberg's equity research analyst Diana Rosero-Pena joins Christina Ruffini on Bloomberg This Weekend to discuss a Bloomberg Intelligence report on this years Easter spending. (Source: Bloomberg)
HSBC issues new update to customers as '£500 available' and HMRC deadline this weekend
HSBC issues new update to customers as '£500 available' and HMRC deadline this weekendAllowances reset on Sunday, April 5, 2026CommentsMoneySteven Smith Content Editor13:12, 04 Apr 2026View 3 ImagesHSBC is urging customers to take advantage(Image: James Wagner via Getty Images)HSBC has issued a new message to customers. New research from the bank has revealed that, while more than half of Britons (54 per cent) are dedicated tax-free savers during ISA season, a significant divide persis...
Food supplies in UAE steady, prices remain stable says minister
The UAE’s food supply remains stable with no signs of shortages or unjustified price increases, Minister of Economy and Tourism Abdullah bin Touq Al Marri said following an inspection tour of Al Ain’s fruit and vegetable market.The visit comes as authorities continue to monitor markets across the country during a period of heightened regional uncertainty, as well as sustained demand following the Ramadan and Eid season, when consumption typically rises.During the tour, the minister reviewed sup...
He thought he was in good health — until fainting during a bike ride
HealthWatch A retired grandpa thought he was in good health — until he fainted during a bike ride .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-healthwatch.jpg'); } By Kerry Breen Kerry Breen News Editor Kerry Breen is a news editor at CBSNews.com. A graduate of New York University's Arthur L. Carter School of Journalism, she previously worked at NBC News' TODAY Digital. She covers current events, breaking news and issues including substance use. Read Ful...
Families facing ‘crisis’ with £15,000 in debts - 6 steps to cutting household bills
Families facing ‘crisis’ with £15,000 in debts - 6 steps to cutting household billsDebt experts warn some households won’t be able to withstand energy bill changes unless they actCommentsMoneySamantha Leathers Senior Money & Lifestyle writer12:46, 04 Apr 2026View 3 ImagesHouseholds are facing rising cost of living challenges(Image: GETTY)While the energy price cap has dropped by nearly seven per cent this month, saving the average household around £117 annually on their energy bill, experts...
Qatari Riyal to Pakistani Rupee Rate Today – April 4, 2026
Karachi/Doha, April 4, 2026 — The Qatari Riyal (QAR) is trading at 76.58 Pakistani Rupee (PKR) today at 9:33 PM PKT, holding steady at the same level seen on March 28. The rate remains in the lower range that has persisted since mid-2025, with Qatar’s strong energy sector continuing to provide a reliable anchor in relatively calm market conditions. The QAR-PKR pair has shown limited movement in recent weeks. Recent rates include 76.58 PKR (Mar 28), 76.36 PKR (Mar 21), 76.64 PKR (Mar 14), 76.74 P...
European ministers call for profit caps on energy companies as Iran war drives price surge
NewsWorldEuropeEuropean ministers call for profit caps on energy companies as Iran war drives price surgeFinance ministers from five European Union member states are urging the bloc to introduce a windfall tax on energy companies as surging oil and gas prices raise inflation fearsDerek Gatopoulos Saturday 04 April 2026 12:01 BSTBookmarkBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","remo...