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Business📍 PAKISTAN

IMF Urges Pakistan to Hold Macroeconomic Course Amid Middle East War

The International Monetary Fund has called on Pakistan to maintain strong macroeconomic policies as the onset of the Middle East war introduces significant external shocks to the global economy and to developing nations with elevated import dependencies. The Fund's statement reflects concern that commodity price volatility, particularly in energy markets, could destabilise reform trajectories in programme countries.

Business📍 PAKISTAN

Government Raises Petrol Price Rs14.92, Diesel Rs15 Per Litre

Following earlier reports of an imminent fuel price revision, the federal government has confirmed a significant increase in petroleum product prices, with petrol rising by Rs14.92 per litre and high-speed diesel climbing Rs15 per litre in the latest fortnightly adjustment. The hike, one of the steeper revisions in recent months, takes effect immediately and will directly impact transportation costs, agricultural inputs, and the cost of goods across the supply chain, with knock-on inflationary effects expected across multiple sectors of the economy.

Business📍 PAKISTAN

Government Raises Petrol by Rs14.92, Diesel by Rs15 Per Litre

The federal government has announced a sharp increase in fuel prices, raising petrol by Rs14.92 per litre and high-speed diesel by Rs15 per litre in the latest fortnightly revision, effective from the early hours of Saturday. The decision, communicated through an official notification, marks one of the steeper fuel price adjustments in recent months and is expected to have an immediate cascading effect on transportation costs and consumer prices nationwide.

Business📍 GLOBAL MARKETS

Global Markets Roiled as Gulf War Ceasefire Hangs in Balance

Renewed fighting between United States and Iranian forces plunged global equity markets into turmoil on Friday, with Australian shares falling sharply and Asian bourses including China and Hong Kong retreating as investors priced in the possibility of a full ceasefire collapse in the Gulf. Japan's Nikkei index retreated from record highs, weighed down by declines in heavyweight SoftBank Group alongside broader risk-off sentiment.

Business📍 GLOBAL

Global Debt Reaches Record $353 Trillion Amid De-Dollarisation Signals

Global debt has reached a record level approaching $353 trillion, according to new data that also shows emerging signs of a structural shift away from US dollar-denominated instruments as governments and institutional investors diversify their debt portfolios. The milestone underscores the cumulative effect of years of deficit spending, pandemic-era stimulus, and post-conflict reconstruction financing across both advanced and developing economies, with sovereign debt levels in particular reaching historically elevated ratios relative to GDP.

Business📍 GLOBAL

US-Iran war forces global central banks to pause April easing cycle

The United States-Iran war has forced central banks across major economies to pause or suspend their monetary easing cycles in April, as the conflict injects fresh inflationary pressure through surging oil prices, supply chain disruption, and elevated geopolitical risk premiums. The synchronised pause marks a significant setback for a global monetary loosening trend that had been building through late 2025 and early 2026.

Business📍 GLOBAL / MIDDLE EAST

Oil Prices Ease as US Signals Softening on Iranian Hormuz Closure

Global oil prices eased Tuesday after signals emerged that the United States may be taking steps to loosen Iran's effective closure of the Strait of Hormuz, the world's most critical oil transit chokepoint through which approximately one-fifth of global oil supply passes. The development offered markets a cautious measure of relief after days of elevated energy prices driven by the waterway's disruption.

Business📍 STRAIT OF HORMUZ / WASHINGTON

US Treasury: Hormuz operation could relieve global oil supply shock

The United States Treasury Secretary has stated that a military or operational intervention in the Strait of Hormuz could ease the current oil supply shock gripping global energy markets, signalling Washington's readiness to consider direct action to secure one of the world's most critical maritime chokepoints. The remarks represent the highest-level US government acknowledgement to date that Hormuz operations are actively on the policy table as the Middle East conflict continues to threaten tanker traffic and regional energy infrastructure.

Business📍 GLOBAL / MIDDLE EAST

IMF chief warns of far worse global outlook if Middle East war persists

IMF Managing Director Kristalina Georgieva has issued a stark warning that the global economy faces a significantly worse outcome if the ongoing Middle East conflict extends into 2027, raising the spectre of sustained disruptions to energy markets, trade flows, and emerging market stability worldwide. Her remarks reflect growing alarm within multilateral institutions over the conflict's mounting economic collateral damage beyond the immediate theatre of war.

Business📍 PAKISTAN

Pakistan Has Sufficient POL Reserves Until Third Week of June

Pakistan's Ministry of Petroleum has confirmed that the country holds sufficient petroleum, oil, and lubricant reserves to sustain domestic supply through the third week of June, a reassurance issued amid escalating tensions in the Gulf region following a drone attack on Fujairah and Iran's missile exchange with the UAE. The ministry's statement is a direct response to public concern over potential supply disruption as regional hostilities intensify near critical Gulf oil transit corridors.

Business📍 GLOBAL / UAE

UAE Says OPEC Exit Not Targeted at Any Member State

The United Arab Emirates has issued a formal statement clarifying that its decision to exit the Organisation of the Petroleum Exporting Countries is not directed against any individual member state, as global energy markets respond to one of the most significant shifts in OPEC's membership in recent years. UAE officials stressed that the withdrawal is driven by national economic strategy and the country's ambitions to maximise its own petroleum output, rather than any bilateral friction within the cartel.

Business📍 PAKISTAN

PIA Privatisation Management Transfer Expected by May 25

Management control of Pakistan International Airlines is likely to be formally transferred to its new private owners by May 25, according to sources familiar with the privatisation process, marking a decisive milestone in one of Pakistan's most consequential state enterprise sell-offs in decades. The handover timeline represents the culmination of protracted negotiations between the federal government and the successful bidder, with legal and regulatory formalities understood to be in their final stages.

Business📍 GLOBAL / OPEC+

OPEC+ Approves Third Oil Output Hike Since Strait of Hormuz Closure

OPEC+ has agreed to a third consecutive increase in oil output quotas since the closure of the Strait of Hormuz, in a move that signals the alliance's determination to offset supply disruptions roiling global energy markets, multiple reports confirmed on Sunday. The production hike comes amid an extraordinary period of volatility triggered by the Hormuz closure, which has severely constrained the flow of Gulf crude to international markets.

Business📍 UNITED STATES / EUROPEAN UNION

Trump Threatens 25% Tariffs on European Union Automobiles

US President Donald Trump has announced his intention to raise tariffs on European Union automobiles to 25 percent, escalating trade tensions between Washington and Brussels in a move that could severely disrupt transatlantic commerce and rattle global auto markets. The announcement represents one of the most aggressive tariff threats against EU exports since Trump returned to the White House.

Business📍 PAKISTAN

Power Minister Declares End of Month-Long Loadshedding After LNG Arrival

Federal Minister for Energy Awais Leghari on Friday declared an end to a month-long loadshedding crisis across Pakistan, citing the arrival of a long-delayed liquefied natural gas shipment as the immediate catalyst for restoring power supply to the national grid. The announcement marks a significant development in Pakistan's protracted energy management struggle, where gas shortfalls had severely curtailed electricity generation capacity, resulting in extended power outages that affected households, industry, and commercial activity nationwide for approximately four weeks.

Business📍 PAKISTAN

Federal Constitutional Court Upholds Super Tax, Overrules High Court Decisions

Pakistan's Federal Constitutional Court has upheld the Super Tax, setting aside earlier rulings by high courts that had challenged the levy's constitutional validity — a landmark decision with significant implications for the country's fiscal framework and the corporate sector. The ruling resolves a protracted legal battle that had seen major companies and industrial conglomerates mount constitutional challenges to the Super Tax, which was introduced as part of the government's revenue mobilisation drive under conditions tied to its International Monetary Fund programme.

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