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Trump asks for eye-popping number to fund Pentagon as he rips through $1 billion per DAY on Iran war
Trump asks for eye-popping number to fund Pentagon as he rips through $1 billion per DAY on Iran warBy NIKKI SCHWAB, CHIEF CAMPAIGN CORRESPONDENT Published: 16:48, 3 April 2026 | Updated: 16:52, 3 April 2026 e-mail View comments
Russian oil companies pay $187 mln to budget under fuel damper mechanism in March
Oil producers received $11.31 bln from the budget under the damper mechanism in 2025
Trump seeks massive $1.5tn for defence alongside cuts in domestic spending
Trump seeks massive $1.5tn for defence alongside cuts in domestic spending19 minutes agoShareSaveAdd as preferred on GoogleBernd Debusmann JrWhite House reporter Getty ImagesTrump has long signalled a desire to increase domestic defence manufacturing capabilities, including new Trump-class battleships unveiled in December. The White House is asking Congress to boost the US defence budget to $1.5tn (£1.1tn), a sweeping rise that would mark the largest expansion in military spending since the Seco...
Glonass wants to supply products to African nations — CEO
Alexey Raikevich said the company is promoting solutions for control of highly automated agricultural, road construction and other machinery in international markets, and the so-called retrofit solutions to automate legacy machinery
2,164GWh consumed under surplus power package
The government's surplus power package has triggered a considerable surge in electricity demand from industrial and agricultural sectors, which have consumed a massive 2,164 gigawatt hours (GWh) of additional electricity in just three months – from December 2025 to February 2026. The Ministry of Energy (Power Division), in a statement, said that under the special initiative to provide relief and support for the country's industries and agriculture sector, the surplus electric...
SBP injects Rs13.68tr into market
The State Bank of Pakistan (SBP) on Friday injected more than Rs13.68 trillion into the money market through conventional and Shariah-compliant open market operations (OMO), based on realised value, to support short-term liquidity needs in the banking system that majorly stem from the government's fiscal needs. According to SBP's conventional OMO reverse repo purchase (injection) results, the central bank accepted bids with a total realised value of Rs13.3 trillion, including Rs711...
KCCI urges conservation as petrol hits Rs458
The Karachi Chamber of Commerce and Industry (KCCI) has called on citizens to adopt responsible fuel consumption habits as petroleum prices continue to rise in line with global market trends. Sharing his views with The Express Tribune, KCCI President Rehan Hanif emphasised that the latest surge in petrol prices is not an isolated domestic decision but a consequence of increasing international oil rates. With prices in the global market reportedly doubling from around $60 to $120 per barrel...
OMCs warn against new OGRA verification rules
Oil marketing companies (OMCs) have raised serious concerns over new verification requirements imposed by the Oil and Gas Regulatory Authority (Ogra) for the release of price differential claims (PDC), warning the move could delay reimbursements and deepen liquidity crisis. In a recent communication to OMCs, Ogra directed companies to submit scanned copies of sales invoices, duly reconciled and certified by their chief executives or chief financial officers, along with verification from ex...
SPI nears double-digit YoY spike
Inflationary pressures in Pakistan intensified further, with the Sensitive Price Indicator (SPI) recording a sharp 9.12% year-on-year (YoY) increase, reflecting the deepening impact of rising energy costs induced by the Israel-US war on Iran. According to the latest weekly report issued by the Pakistan Bureau of Statistics (PBS), inflation rose by 1.01% week-on-week (WoW) for the week ended April 2, 2026, compared to a 0.97% increase in the previous week, marking a continued upward trend i...
IMF allows Rs830b power subsidies
The International Monetary Fund (IMF) has allowed Pakistan to allocate Rs830 billion for power subsidies in the new budget. The amount includes Rs300 billion to pay for electricity theft and poor bill recovery. The lender also imposed a new condition to increase electricity prices in January 2027, according to government sources. The decision underscores a contradiction in the IMF's approach towards Pakistan where it is sanctioning hundreds of billions of rupees for electricity subsidi...
Stellantis to Produce New Fiat Koala at Morocco’s Kenitra Plant
Marrakech – Stellantis has registered a new model under the Fiat brand called the Koala, according to Italian newspaper Corriere della Sera. The multinational automotive manufacturing corporation filed the trademark last week in Turin through Fca Marketing Group. The vehicle is expected to be produced at the company’s plant in Kenitra, Morocco. The Koala is reportedly derived from the Panda platform. It shares the same smart car architecture used for the Grande Panda but will feature a dis...
K-P cabinet okays two-day salary cut
The Khyber-Pakhtunkhwa provincial cabinet has given in-principle approval for a voluntary deduction of two days' basic salary from Grade 20 and above officers to support public relief efforts, as the province grapples with the fallout of surging fuel prices and broader economic pressures triggered by the Iran-US conflict. The decision came during the cabinet's 50th meeting, chaired by Chief Minister Muhammad Sohail Afridi via video link on Friday. The Finance Department has been di...
Sindh announces Rs2,000 for bikers as part of fuel subsidy; Punjab makes public transportation free
The Sindh and Punjab governments announced relief measures on Friday, a day after the Centre announced an unprecedented increase of 43 per cent and 55pc in the prices of petrol and high-speed diesel (HSD), respectively, to cushion the impact of global oil price shocks amid the US-Israel war on Iran....
WTO countries to extend moratorium on customs duties on electronic transmissions until May
The agreement was reached on April 1 after negotiations on the issue stalled at the organization’s 14th Ministerial Conference in Cameroon
Russian business showing higher interest in projects in Abkhazia — minister
Such interest is based on significantly increased indicators of the socioeconomic development program of Abkhazia of the previous stage, Maxim Reshetnikov noted
Tanker with Iranian oil change course, heading to China — PTI
The change in the destination of Pin Shun appears to be payment-related, Sumit Ritolia, Lead Research Analyst at Kpler, noted
Thar's coal must power people, not just plants
For years, Tharparkar has been at the centre of Pakistan's energy discourse. Vast coal reserves have fueled major power projects, helping address the country's electricity shortages. Yet, for the people of Thar, the promise of prosperity remains only partially fulfilled. The focus on large-scale power generation has overshadowed a critical question: can Thar's coal also drive local industry and livelihoods? The answer lies in a simple but transformative idea - coal briquettes....
The urge to judge: when religion becomes a checklist
A short video clip sparked a long conversation in our home. Two young women - both reverts to Islam - sat together, one gently teaching the other how to pray. The learner was visibly excited, though unsure and occasionally confused about the sequence. The teacher, instead of correcting harshly, kept encouraging her - celebrating each small step forward. What struck me was not just the interaction in the video, but the reaction beside me. My wife, who comes from a rural background in K-P and...
Fuelling inflation
The countrymen have been literally left stunned as the government has pushed the price of petrol to Rs458 per litre and that of high-speed diesel to Rs520 - the highest levels in Pakistan's history. Petrol has risen by 63% in four weeks and diesel by 75%. Part of the cause lies beyond Islamabad's reach as the US-Israeli strikes on Iran have led to the closure of the Strait of Hormuz and sent global crude to record highs. For weeks, the government told people that there was nothing t...
How to know if you're judgment-proof from debt collectors
MoneyWatch: Managing Your Money How to know if you're judgment-proof from debt collectors We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and...