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US secures majority control of 65B barrels of Venezuelan oil: Trump

Agreement set to double American reserves, ‘greatly strengthen’ relations with Caracas, says US president A picture of an oil pipeline. PHOTO: ANADOLU AGENCY US President Donald Trump said on Friday that Washington finalised an agreement with Venezuela to secure majority control of more than 65 billion barrels of proven oil reserves. “The United States of … Read more

Rs450b ML-1 upgrade faces financing hurdle

[ 399 train derailments in 10 years highlight urgent need for railway modernisation ISLAMABAD: Pakistan’s railway infrastructure is in urgent need of modernisation, with 399 train derailments and 158 accidents reported over the past decade due to deteriorating track conditions, Planning Minister Ahsan Iqbal said on Friday as he reviewed financing options for the Rohri-Multan … Read more

Short-term inflation sticky at 9.04%

[ KARACHI: Pakistan’s Sensitive Price Indicator (SPI) remained sticky at 9.04% year-on-year for the week ended August 27 as energy costs tied to the prolonged disruption of oil and gas traffic through the Strait of Hormuz continued to dominate the essentials basket, even after a sharp fall in tomato and chicken prices trimmed the weekly … Read more

Iran war depletes US military stockpiles, limiting global deterrence: report

US officials say inventories of interceptors in Europe ‘beyond critical’ levels; Pentagon denies scarcity This US military file photo shows a US Army Terminal High Altitude Area Defense (THAAD) launching station in Israel on March 4, 2019. Staff Sgt. Cory D. Payne/US Air Force/File The extensive use of advanced weaponry in the war against Iran … Read more

PSX edges up, stalls below 178,000

[ KARACHI: Pakistan Stock Exchange (PSX) closed modestly higher on Friday, adding over 370 points to settle near 177,700 after touching the intra-day high around 178,050. Arif Habib Limited (AHL) reported that the PSX delivered a mixed performance as the benchmark KSE-100 index closed at 177,696.51 with an addition of 373.73 points, or 0.21%. The … Read more

PPP’s Yasin named AJK opposition leader

. MUZAFFARABAD: Pakistan Peoples Party PPP leader Chaudhry Muhammad Yasin has been appointed Leader of the Opposition in the Azad Jammu and Kashmir Legislative Assembly, completing the parliamentary set-up of the newly elected house. AJK Assembly Speaker Chaudhry Tariq Farooq issued a formal notification confirming Yasin’s appointment. Yasin will now lead the opposition benches and … Read more