Category: Business
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Global Oil Prices Rise Further Following US Strikes on Iran
LONDON: Global oil prices continued to climb after the United States launched fresh strikes on Iran, adding to concerns over supply disruptions amid escalating tensions in the Middle East. In international trading, Brent crude rose by $1.93, or 2 percent, to reach $96 per barrel, its highest level since June 8. Meanwhile, West Texas Intermediate…
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Tomato Prices Surge to Rs500 Per Kilogram in Karachi Despite Iranian Imports
KARACHI: Tomato prices have surged sharply in Karachi, reaching as high as Rs500 per kilogram, with consumers continuing to face high food costs despite the arrival of imported tomatoes from Iran. According to media reports, retail prices of tomatoes have climbed to between Rs450 and Rs500 per kilogram, while some vendors are selling them at…
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S&P Global Upgrades Pakistan’s Long-Term Credit Rating to ‘B’, Citing Progress on Economic Reforms
ISLAMABAD: Global credit rating agency S&P Global Ratings has upgraded Pakistan’s long-term sovereign credit rating from B- to B, acknowledging improvements in the country’s economic fundamentals, stronger foreign exchange reserves, and progress made under the International Monetary Fund (IMF)-supported reform programme. In its latest assessment, S&P Global said Pakistan’s ongoing structural reforms in collaboration with…
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Petrol Pumps Association Announces Nationwide Shutdown After Talks with Government Fail
ISLAMABAD: The All Pakistan Petroleum Pumps Association (APPPA) has announced that petrol pumps across the country will close indefinitely from midnight on Wednesday, following the failure of negotiations with the Ministry of Petroleum. In a video statement, APPPA General Secretary Nauman Ali Butt said discussions with the ministry had ended without an agreement. According to…
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Pakistan Increases Petrol and Diesel Prices; New Rates Effective July 22
ISLAMABAD: The federal government has announced an increase in the prices of petroleum products, raising the rates of petrol, high-speed diesel, and kerosene oil with effect from July 22. According to an official notification issued by the government, the price of petrol has been increased by Rs4.93 per litre, while high-speed diesel (HSD) has become…
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FBR Tax Collections Increase to Rs357 Billion; Excise Duty and Sales Tax Generate Rs329 Billion
ISLAMABAD: Pakistan’s Federal Board of Revenue (FBR) has recorded an increase in tax collections, with revenue generated through Federal Excise Duty (FED) and General Sales Tax (GST) reaching Rs329 billion during the fiscal year 2025–26. According to official figures, collections from FED and GST increased significantly compared with the previous fiscal year, reflecting improved revenue…
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Oil extends gains on fresh Mideast supply risks
Oil prices extended gains on Wednesday as fears of further supply disruptions intensified after U.S. forces struck Iranian military targets for the 11th straight night, while oil tankers made U-turns in the Red Sea after warnings by Houthis. Brent crude futures rose $1, or 1.1%, to $92.01 a barrel at 0330 GMT. U.S. West Texas…
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Global Oil Prices Climb to One-Month High as U.S.-Iran Tensions Escalate
LONDON: Global crude oil prices surged by nearly 3% on Monday, reaching their highest levels in about a month, as escalating tensions between the United States and Iran fueled concerns over potential disruptions to energy supplies from the Middle East. According to international market data, investors reacted to the continuing military confrontation between the two…
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Pakistan’s Annual Petroleum Import Bill Exceeds IMF Estimate Amid Surge in Global Oil Prices
ISLAMABAD: Pakistan’s annual petroleum import bill has exceeded the International Monetary Fund’s (IMF) projections after a sharp rise in global oil prices, driven largely by heightened tensions in the Middle East. According to official documents, Pakistan spent $16.86 billion on oil imports during the 2025–26 fiscal year, surpassing the IMF’s earlier estimate by $1.58 billion.…
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Here is the English translation in a writing block:
Crude Oil Prices Reach One-Month High Amid Rising Tensions in the Middle East Global crude oil prices rose by nearly 3 percent today as escalating tensions between the United States and Iran fueled concerns over energy supplies in the Middle East. According to an international news agency, Brent crude climbed by US$2.77, or 3.14 percent,…
