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Treasury urged to scrap VAT for youth clubs and community centres
EXCLUSIVE: Treasury urged to scrap VAT for youth clubs and community centresLabour's sister party pointed out museums and galleries are eligible for a refund on VAT to reflect their public value, while vital community buildings were forced to shell outCommentsNewsAlexander Brown Assistant Political Editor17:17, 04 Apr 2026View 3 ImagesJoe Fortune has written to the the Treasury calling for more supportCommunity centres and youth clubs across Britain are struggling to pay for repairs and upg...
Cruise line abruptly adds extra charges for passengers as travelers worry others may follow
Since the start of the Iran conflict, oil prices have skyrocketed, and many cruise passengers are worrying they'll be slapped with extra surcharges related to the fuel issues in the next months as a result.Some cruise operators are already introducing additional fees on certain trips. StarDream Cruises, headquartered in Malaysia, said it added a daily fuel surcharge to Asia sailings booked after March 20.The added cost will vary by itinerary, but it is expected to be between $19 and $26 per gues...
Barclays set to open new branches as it plots revival of high street banking
Barclays set to open new branches as it plots revival of high street bankingGet your news delivered straight to you by 7am - sign up to our new Morning Mail newsletter for FREE Do YOU have a story? Email isabella.machin@dailymail.co.ukBy ISABELLA MACHIN, REPORTER Published: 17:02, 4 April 2026 | Updated: 17:02, 4 April 2026 e-mail View comments
Millionaire parents spoiled son with powerful $94k BMW M4 for his SIXTEENTH birthday... now a 100mph crash has killed a beloved schoolgirl - and his family's very troubling past has been revealed
Millionaire parents spoiled son with powerful $94k BMW M4 for his SIXTEENTH birthday... now a 100mph crash has killed a beloved schoolgirl - and his family's very troubling past has been revealedBy NATASHA ANDERSON, US SENIOR NEWS REPORTER Published: 16:57, 4 April 2026 | Updated: 17:06, 4 April 2026 e-mail View comments
FO rejects ‘misleading, unfounded’ commentary regarding financial deposits from UAE
The Foreign Office (FO) on Saturday rejected “misleading and unfounded commentary” regarding financial deposits from the United Arab Emirates (UAE), saying this was a “routine transaction”. A senior Pakistani official had said on Friday that the country had decided to return $3.5 billion in debt to the UAE before the end of this month. According to the official, Abu Dhabi had sought the immediate return of the amount. These funds were part of external financing support extended by the UAE in 201...
Why Philippines’ Strait of Hormuz passage won’t lower fuel prices anytime soon
Dubai: The Philippines’ newly secured passage through the Strait of Hormuz may strengthen its energy supply security, but officials have noted that motorists should not expect immediate relief at the pump.Iran’s decision to allow “safe, unhindered, and expeditious passage” for Philippine-flagged vessels, energy cargo, and Filipino seafarers, comes at a time of heightened geopolitical tensions affecting global oil routes.While the move has been seen as a “meaningful gain,” authorities have stres...
'Litigation should be the last resort'
Former Supreme Court judge Syed Mansoor Ali Shah on Saturday underscored the importance of Alternative Dispute Resolution (ADR), calling it the "future of Pakistan's judicial system" and a viable solution to the country's mounting case backlog. Addressing an ADR conference, Justice Shah said ADR is in fact an older and more traditional system than formal courts, rooted in community-based dispute resolution. "Before the formal judicial system, disputes were resolved...
Trump unveils $1.5T defense surge, deep domestic cuts — what’s on the budget chopping block
The White House on Friday proposed a sweeping fiscal year 2027 budget that would dramatically increase military spending to roughly $1.5 trillion while cutting billions from domestic programs, marking a sharp shift in federal priorities toward national security and border enforcement.The proposal outlines roughly $1.5 trillion in total defense resources, a figure the administration says is needed to address growing threats from China, Russia and other adversaries.The request includes about $1.1...
Saham Bank Posts Record Profits in First Full Year Without Société Générale
Marrakech – Saham Bank closed its first full fiscal year under its new identity with a net income that more than doubled compared to 2024. The results confirm a sharp improvement in profitability as the bank completes its operational autonomization following the departure of Société Générale France. The group’s net income reached MAD 1.705 billion ($170.5 million) in 2025, up 117.7% from MAD 783 million ($78.3 million) a year earlier. On a standalone basis, net income came in at MAD 1.4 bi...
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...
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...
'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...
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...
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...
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...