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Pakistan repays $1.43 billion Eurobonds
ISLAMABAD: Pakistan has successfully repaid $1.43 billion in maturing Eurobonds, the State Bank of Pakistan (SBP) confirmed on Wednesday. According to the SBP, the repayment includes $1.3 billion in principal and the remainder as interest. Payment was made to the agent bank for distribution to bondholders on the maturity date of April 8, 2026. Adviser to the Finance Minister, Khurram Shehzad, said the timely repayments will reinforce confidence in the country’s financial management. He described...
Philippine inflation accelerates to 4.1% in March amid rising fuel, food costs
Dubai: Philippine inflation has picked up sharply in March, rising to 4.1 percent year-on-year from 2.4 percent in February, exceeding the central bank’s forecast range of 3.1 to 3.9 percent for the month.The increase has been driven by growing price pressures brought by higher energy and food costs.Average inflation for the first quarter of this year has stood at 2.8 percent. This remains below the Bangko Sentral ng Pilipinas (BSP)’s full-year target of 3.0 percent, though still within its tol...
E&P of Ghana Wins Bid to Run Damang Mine After Gold Fields Exit
Engineers and Planners Co., a closely held company headed by the brother of Ghana’s president, won a bid to take over the Damang gold mine after Gold Fields Ltd.’s transfers the asset to the government.
Patagonia faces criticism for ‘earth usage fee’ on online orders to curb excessive returns
American outdoor apparel brand Patagonia is facing significant backlash online after implementing an “earth usage fee” for online orders, aimed at curbing excessive returns. Announced on March 30, the fee applies exclusively to purchases made through its Tmall store, a premium online shopping platform operated by Alibaba, which also owns the South China Morning Post. During last year’s Double 11 shopping festival, Patagonia’s Tmall store shipped 16,179 packages, leading to a staggering return...
Sustained Rally Hinges on Hormuz Reopening, BNP's Huynh Says
Sophie Huynh, portfolio manager and strategist at BNP Paribas Asset Management, reacts to the two-week US-Iran ceasefire announcement and whether the relief rally in markets can be sustained. "How long it's going to take for oil to reach those countries as the Strait of Hormuz potentially opens is, I think, a key question," Huynh tells Bloomberg Television. (Source: Bloomberg)
Primrose Hill stabbing: Man, 21, dies in fight at north London beauty spot
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Taiwan’s Foreign Reserves Drop Most Since 2011 on Intervention
Taiwan’s foreign reserves saw their steepest monthly drop in nearly 15 years in March, as the central bank sold the greenback to stabilize the local currency against capital outflows spurred by the Iran war.
Malaysian Glove Maker WRP to Shut Down Over Iran War Disruptions
Malaysian rubber glove maker WRP Asia Pacific Sdn. will begin winding down its business operations this month, citing “severe disruptions across global energy and petrochemical supply chains” caused by the Middle East conflict.
Philippines hit by accelerated inflation, no immediate relief from Iran-US ceasefire
[Editor's Note: Follow Khaleej Times live blog amid US-Israel-Iran ceasefire for the latest regional developments.]Retired Philippine Army Sgt Lito Panganiban is among the millions of Filipinos worried about prices of maintenance medicines for his hypertension and other ailments as the situation in the Middle East continue to impact the country.As someone who receives P12,000 (Dh750) per month as pension, Panganiban is relying on his almost three decades experience as a soldier to str...
تداوم تردد محدود کشتیها در تنگه هرمز پس از اعلام آتشبس
دادههای کشتیرانی نشان میدهد بیش از شش ساعت پس از اعلام آتشبس میان آمریکا و جمهوری اسلامی، تردد کشتیها در تنگه هرمز همچنان محدود است. یک تحلیلگر هشدار داد که کشتیها و شرکتهای بیمه پیش از ازسرگیری عبور از این آبراه حیاتی، به نشانههای مثبت بیشتری نیاز دارند.
80% of Hong Kong fishing vessels grounded before moratorium due to high fuel prices
Up to 80 per cent of Hong Kong’s fishing vessels have suspended operations nearly a month ahead of a planned moratorium, according to a sector representative, as the doubling of “red oil” prices caused by the war in the Middle East has made going out to sea untenable for operators. Representatives for local transport and maritime sectors welcomed the two-week ceasefire announced by the US and Iran and the subsequent reopening of the Strait of Hormuz, but called for targeted, temporary government...
European Stocks Set for Biggest Gain Since 2022 on Iran-US Deal
European shares were set for their biggest advance since 2022 after the US and Iran agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz and oil flows to the rest of world.
Oil prices fall sharply after Trump announces two-week Iran war ceasefire
Oil prices have fallen sharply and stock markets have soared on news of a two-week ceasefire between the US, Israel and Iran.Oil has dropped roughly 14%, falling below $100 to $94 for a barrel of benchmark Brent crude.
PSX gains over 12,000 points as investors glee over US-Iran ceasefire
The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 surged by over 12,000 points during intraday trade on Wednesday as investors reacted to the positive developments of a ceasefire between the United States and Iran. The KSE-100 index surged by 12,362.38 points, or 8.15 per cent, to stand at 164,035.83 at 9:37am. Subsequently, trading was temporarily suspended in accordance with PSX regulations. The gains mark the highest single-day rally in absolute terms in PSX history, surpassing the...
Crude tanker carrying petrol arrives at Port Qasim, Karachi
KARACHI: A crude oil tanker carrying petrol arrived at Port Qasim in Karachi, Pakistan, officials confirmed on Wednesday. The vessel, named Corallo One, is carrying approximately 37,085 tonnes of petrol and is currently anchored at the outer anchorage of Port Qasim. Over the past 24 hours, Port Qasim handled significant cargo activity. Around 34,296 metric tonnes of imported cargo and 3,158 metric tonnes of exported cargo were processed. A total of 13 ships, including the petrol tanker, are curr...
Svatantra Microfin Said to Prepare for $250 Million India IPO
Advent International LP-backed Svatantra Microfin Pvt. has met with bankers and lawyers as the first step in the process for an initial public offering that could raise as much as $250 million, according to people familiar with the matter.
Artemis and ISS astronauts share celestial call
The Artemis astronauts hurtling back home after circling the Moon have had regular communication with their team on Earth, but on Tuesday, they got to chat with colleagues floating elsewhere in space. “We have been waiting for this like you can’t imagine,” said Artemis II mission commander Reid Weisman as his crew began the call with astronauts aboard the International Space Station. “It’s fun to be up in space with you at the same time!” said Canadian astrona...
لاپید آتشبس آمریکا و جمهوری اسلامی را «فاجعه سیاسی» خواند
یائیر لاپید، رهبر اپوزیسیون اسرائیل، آتشبس میان آمریکا و جمهوری اسلامی را «فاجعه سیاسی» خواند و گفت اسرائیل حتی هنگام اتخاذ تصمیمهایی که بر هسته اصلی امنیت ملی این کشور تاثیر میگذارد، بر سر میز حضور نداشت. او افزود: «هرگز در تمام تاریخ ما چنین فاجعه سیاسی رخ نداده است.»
Matt Canavan’s ‘economic revolution’ is little more than a populist mirage – and Australians would pay the price | Patrick Commins
Nationals leader’s solution to the high cost of living is to force us to buy more expensive, locally made goodsMatt Canavan’s “economic revolution” is a populist mirage masquerading as an answer to a generational challenge that will define our prosperity in the decades to come.That challenge is: how do we create a new economy that is more resilient, secure and affordable, without undermining our prosperity?Patrick Commins is Guardian Australia’s economics editor Continue reading...
Petroleum prices likely to reduce by Rs 30 to 60 per litre
ISLAMABAD: Petroleum prices likely to be reduced by Rs 30 to 60 per litre after the prices in international market dropped in result of the ceasefire between Iran and the United States. The prime minister has issued special instructions after falling petroleum prices in the global market. Prime Minister has directed concerned ministries to extend benefit of the oil prices in international market to people. “The finance and petroleum ministries have started considering over reduction in fue...