Japan Mulls Extra Budget for FY2026 Amid Oil Price Surge
Japan's PM Sanae Takaichi announced plans for a supplementary budget for fiscal 2026 to address rising crude oil prices due to Middle East conflict, as fuel subsidies strain current reserves.
Category : Business
US Ends Civil Criminal Cases Against Adani Group
The United States has dropped all civil and criminal cases against the Adani Group, marking a significant legal victory for the Indian conglomerate.
WASA MD Reviews Drainage Arrangements in Rawalpindi
Managing Director of WASA Rawalpindi reviewed drainage arrangements ahead of monsoon season, directing officials to ensure smooth water flow and prevent urban flooding.
Pakistan's Dairy Buffalo Breeds to Gain Global Market Access
Pakistan's high milk-yielding Nili-Ravi buffalo breed is set for global market expansion through enhanced cooperation with China in livestock genetics and embryo export.
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CPO Meets Family of Shaheed Subedar Allah Ditta
City Police Officer meets the family of Shaheed Subedar Allah Ditta, offering condolences and reiterating the police department's commitment to the welfare of martyrs' families.
Lahore Sees 12% Drop in Road Fatality Rate This Year
Lahore reports a 12% decline in road fatalities this year, attributed to enhanced traffic enforcement and public awareness campaigns.
Alleged Cocaine Queenpin Remanded Police Custody
A suspected drug lord known as the 'cocaine queenpin' has been remanded to police custody for further investigation into a major narcotics network.
Pakistan, Egypt Strengthen Joint Police Training
Pakistan and Egypt agree to boost joint police training programs to enhance counter-terrorism capabilities and law enforcement cooperation.
Police Book 22 Suspected Drug Peddlers Assaulting Cops
Police in Punjab have registered cases against 22 suspected drug peddlers for assaulting officers during a raid. The suspects face charges of drug trafficking and attacking police personnel.
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Court Orders KE to Pay Rs13.5m Compensation in Electrocution
Sindh High Court orders K-Electric to pay Rs13.5 million compensation to family of electrocution victim, citing negligence.
PERA District Office Inaugurated in Muzaffargarh
The Punjab Enforcement and Regulatory Authority (PERA) district office was inaugurated in Muzaffargarh. Officials aim to tackle hoarding, encroachments, and profiteering.
Jury awards $49.5M to family of Boeing crash victim
A federal jury awarded $49.5 million to the family of Samya Stumo, a 24-year-old nonprofit worker killed in the 2019 Ethiopian Airlines 737 Max crash.
Pakistan Halts New Power Contracts to Cut Energy Costs
Pakistan will stop approving new power generation contracts to reduce energy sector costs and ease public finance pressure, the information ministry announced on Thursday.
Oil prices surge 1% as Trump warns Iran, Hormuz tensions persist
Oil prices rose over 1% after Trump said he won't be patient with Iran, amid ongoing Strait of Hormuz tensions and ship seizures.
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UAE accelerates oil pipeline to bypass Hormuz by 2027
The UAE will accelerate construction of a new oil pipeline to double export capacity through Fujairah by 2027, bypassing the Strait of Hormuz amid geopolitical tensions.
Saudi POS Transactions Stay Above $3.5bn Despite Drop
Saudi Arabia's POS transaction value held above $3.5bn in the week ending May 9, reflecting resilient consumer activity despite a 14.8% decline from the previous week.
ADB, AIIB Back Pakistan's Panda Bond for Green Projects
The Asian Development Bank and AIIB collaborated to support Pakistan's first Panda bond issuance, raising 1.75 billion yuan for sustainable infrastructure and green projects.
Iran's Internet Blackout Leaves Millions Isolated, Inequality Soars
Iran's longest internet blackout, following US-Israeli airstrikes, has isolated millions and deepened inequality, with only the wealthy able to afford restricted access.
Iran eases Strait of Hormuz blockade, allows more ships
Iran's Revolutionary Guards are permitting more vessels through the Strait of Hormuz after a blockade, state TV reports, signaling acceptance of new protocols.
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Pakistan's First Panda Bond to Boost Growth, China Ties
Pakistan launched its inaugural Panda Bond worth 1.75 billion yuan, becoming the first South Asian nation to tap China's onshore bond market, aiming to support inclusive growth and deepen financial cooperation.
Saudi Minister Discusses Industrial Partnership with Pakistan
Saudi Arabia's industry minister held a virtual meeting with Pakistani ministers to strengthen industrial cooperation and expand investment partnerships in key sectors like fertilizers.
Pakistan Central Bank Expects Record Remittances Above $41B
Pakistan's central bank expects remittances to cross $41 billion in FY26, despite export slowdown, with economic growth projected up to 4.75%.
GCC Sustainability Shifts from Vision to Execution on Projects
Saudi Arabia and GCC nations are embedding sustainability into project delivery, but gaps remain between planning and execution, as highlighted by experts and new frameworks.
Syria Appoints Safwat Raslan as Central Bank Governor
Syria appoints Safwat Raslan as central bank governor, replacing Abdelkader Husriyeh who becomes ambassador to Canada. Raslan, a former banker who fled to Germany, returns to lead monetary policy amid reconstruction efforts.
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Swiss-Moroccan builds 'kingdom' from scattered plots
Jonas Lauwiner, a 31-year-old Swiss-Moroccan, declared himself King of Switzerland after acquiring 150 plots of land, creating a symbolic empire under Swiss law.
Jollibee in Saudi Arabia: A Filipino Fast-Food Favorite
Jollibee, the Filipino fast-food chain, has been serving juicy chicken and sweet spaghetti in Saudi Arabia since 2008. Despite competition, it remains popular with branches across the kingdom.
Trump and Boeing: China to Buy 200 Aircraft, Reopening Key Market
Boeing secures a deal for 200 aircraft to China, marking its first major sale in nearly a decade after Trump-Xi summit, reopening a crucial market.
Pakistan Approves Sale of Stakes in Three Power Distributors
Pakistan's cabinet committee approved the sale of 51-100% stakes in IESCO, GEPCO, and FESCO to reform the power sector under an IMF-backed program.
Pakistan Eyes Future Sovereign Issuances After Panda Bond Launch
Pakistan's finance minister hopes the successful launch of its first Panda bond will lead to more sovereign issuances in China's debt market, diversifying funding sources.
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SFD Continues Financial Aid to Multiple Countries in 2026
The Saudi Fund for Development has provided financial support to Sudan, Cameroon, Oman, and Palau in 2026, funding water, infrastructure, and economic projects despite global tensions.
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