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AI summaryIn a televised address, Prime Minister Shehbaz Sharif announced a reduction in petrol levy by Rs80 per litre, bringing the price down to Rs378, and extended cabinet austerity measures to six months without salaries, citing the Middle East conflict as the cause of soaring oil prices affecting Pakistan.
AI summaryA French-owned container ship and a Japanese-owned tanker have crossed the Strait of Hormuz, marking the first such transits by Western vessels since the US-Israeli conflict with Iran effectively closed the waterway. The crossings, confirmed by shipping tracking data, come amid ongoing diplomatic efforts to reopen the strategic route for global oil and LNG supplies.
AI summaryA decade after the Panama Papers leak exposed how the global elite hide wealth, we examine the fallout, key political casualties, and the modest regulatory changes that followed. The leak remains a landmark in investigative journalism, but its long-term impact on offshore finance is still debated.
AI summaryRussian Foreign Minister Sergey Lavrov and Egyptian Foreign Minister Badr Abdelatty met in Moscow, where both sides emphasized a shared strategic alignment on the Middle East, calling for de-escalation and political-diplomatic solutions. The talks follow Egyptian-mediated efforts amid heightened tensions involving Iran.
AI summaryPakistan has increased petrol and diesel prices by up to 54% following the war in the Middle East and a surge in global oil prices. The decision has sparked protests and prompted the government to offer free public transport and a partial rollback on petrol prices.
AI summaryIn response to recent fuel price increases, the Sindh and Punjab governments have announced targeted relief measures, including fuel subsidies for motorcyclists, fare freezes, and free public transport. Sindh has introduced an online registration system for its Rs2,000 monthly motorcycle subsidy, though technical issues and data errors have slowed disbursements.
AI summaryPakistan announced a sharp increase in petrol and diesel prices, citing global oil price surges from the U.S.-Israel conflict with Iran. The move triggered opposition protests and public backlash, leading Prime Minister Shehbaz Sharif to reduce the petrol levy by Rs80 per litre. The government also introduced targeted subsidies for bikers, farmers, and transporters.
AI summaryOn day 35 of US-Israeli strikes on Iran, attacks have widened to include Tehran's historic Pasteur Institute and a bridge near the capital. Casualty figures from Iranian officials report over 2,000 killed, while diplomatic efforts by Pakistan and the UK continue amid speculation of a US military leadership shake-up.
AI summaryAt the start of 2025, Pakistan had a surplus of imported liquefied natural gas, but escalating conflict between the US, Israel, and Iran has disrupted supply chains, particularly through the Strait of Hormuz, and Qatar's force majeure declaration has cut production. As a result, Pakistan's already fragile energy landscape faces a looming shortage, with households prioritized amid warnings of reduced shipments.
AI summaryAs global trade routes and energy flows face strain, Pakistan's strategic position has improved, but analysts argue the country must convert diplomatic capital into tangible economic agreements. Drawing on examples from Egypt and Türkiye, experts call for building buffers against future shocks, including foreign exchange resilience, strategic oil reserves, and support for exporters.
AI summaryPakistan's Defence Minister Khawaja Asif responded to Indian counterpart Rajnath Singh's remarks, warning that any attack would meet a 'swift, calibrated, and decisive' response. Asif dismissed Singh's statements as 'threat-mongering' and referenced the 2025 Pahalgam attack and the ensuing conflict, which he called a 'staged false flag operation.' The exchange underscores ongoing tensions between the two nuclear-armed neighbors.
AI summaryPresident Trump's address on the Iran conflict reiterated threats and warnings but offered no new details on ending the war, while his contradictory statements on regime change and the Strait of Hormuz left allies and analysts with more questions than answers.
AI summaryFinance Minister Muhammad Aurangzeb is in Washington for the IMF-World Bank Spring Meetings, where he is seeking early approval of the next IMF tranche and discussing the economic impact of the Iran conflict. The IMF, World Bank, and IEA have announced a joint coordination mechanism to address global economic disruptions.
AI summaryIran has promised 'more crushing, broader and more destructive' attacks against the US and Israel following President Trump's threat to bomb Iran 'back to the Stone Age.' The war, now in its fifth week, has seen continued airstrikes on both sides, with rising casualties in Lebanon and regional instability as the UAE bars Iranians and Kuwait reports drone attacks.
AI summaryPakistan has stated that Afghanistan must take visible and verifiable action against militant groups using its soil, as preliminary talks between the two neighbors conclude in China. The exchanges follow months of cross-border violence, with both sides trading accusations and diplomatic efforts failing to secure a permanent ceasefire.
AI summaryMinisters from more than 40 countries met virtually on Thursday to discuss reopening the Strait of Hormuz, blocked by Iran since US-Israeli strikes began in late February. The UK-led talks, which the US did not attend, focused on diplomatic and planning measures, with 20,000 seafarers and 2,000 ships reportedly stranded.
AI summaryIndia has proposed amendments to its IT rules that would extend a code of ethics to influencers and podcasters, alarming activists who warn of increased state control over online speech. Reports highlight a recent crackdown on dissenting voices, with dozens of accounts blocked and more than 28,000 URLs taken down in 2024.
AI summaryPakistan's benchmark KSE-100 index plunged as much as 4,000 points intraday on Thursday, closing 3,500 points lower after President Trump signaled continued strikes against Iran. The selloff mirrored a global downturn in equities and a spike in oil prices, with analysts pointing to unresolved geopolitical risk.
AI summaryEight Muslim-majority countries, including Pakistan, Turkey, and Saudi Arabia, have strongly condemned Israel's newly passed death penalty law for terrorists, calling it a 'dangerous escalation.' The law, sponsored by National Security Minister Itamar Ben-Gvir, passed the Knesset with 62 votes in favor and 48 against, and has drawn international criticism.
AI summaryHeavy rains triggered urban flooding and power outages in Karachi, killing at least six people — five on Thursday and one overnight — and breaking a 41-year rainfall record for April. Authorities declared a rain emergency, deployed rescue teams, and set up helplines as meteorologists warned of two more spells this month.