Oil reignites double-digit inflation

[ A hydrocarbon facility in Qatar. PHOTO: oilandgasmiddleeast.com KARACHI: Pakistan’s hard-won respite from chronic inflation, despite internal political disorder, appears to be slipping as an external global oil price shock, triggered by the ongoing Israel-US aggression towards Iran, begins to transmit into the domestic economy, prompting analysts to warn of a return to double-digit inflation … Read more

Fair competition vital for growth: CCP

[ LAHORE: Competition Commission of Pakistan (CCP) Chairman Farid Ahmad Tarar has said that fair competition is the foundation of a strong economy and sustainable economic growth can only be achieved through transparency, equal market opportunities and strict compliance with laws. He said that cartelisation, deceptive marketing practices and abuse of dominant market position harm … Read more

Businesses oppose lockdown without talks

[ FPCCI warns 30% of businesses may shut under proposed plan, urges long-term policy clarity Pakistan’s ambassador said that the event would prove to be helpful in building synergies between Pakistani and Turkish technology sectors, the academia and businesses. PHOTO: FILE LAHORE: Business leaders have opposed any move to impose a lockdown without prior consultation … Read more

Kuwait to use Pakistani ships for fuel supply

[ ISLAMABAD: Kuwait has agreed to use Pakistani ships for diesel and jet fuel supply after Iran assured Pakistan of safe passage for 20 oil cargoes. Kuwait Petroleum Corporation (KPC), through an agreement with Pakistan State Oil, regularly ships oil to Pakistan. However, shipments came to a halt after Iran closed the Strait of Hormuz … Read more

Gold surges to Rs476,000 amid US-Iran tensions

[ KARACHI: Gold prices in Pakistan extended their upward trajectory on Monday, tracking gains in the international market where bullion rose for a second consecutive session amid renewed safe-haven demand linked to ongoing geopolitical tensions in the Middle East. In the domestic market, the price of gold per tola surged by Rs3,900 to settle at … Read more