The Strait of Hormuz never had to be formally blockaded. Risk aversion did the job anyway. In the 48 hours since US and Israeli attacks escalated against Iran, global oil markets have lurched higher by as much as 13%, Brent crude has traded near $78-$79 a barrel, and tanker traffic at the world’s most critical energy chokepoint has simply frozen in place.
Economy
Pakistan inflation quickens to highest in four months on electricity, produce surge
ISLAMABAD: Pakistan’s headline inflation accelerated to the fastest pace in four months in February, climbing to 7 percent year-on-year as higher electricity charges and fresh-produce prices offset declines in chicken and eggs, data from the Pakistan Bureau of Statistics showed on Monday.
Pakistan forms daily oil oversight committee after Hormuz disruption spurs price spike
By Staff Reporter ISLAMABAD: Pakistan will continue passing the impact of higher global oil prices directly to consumers under its existing fortnightly adjustment mechanism, the
Pakistan IMF talks shift to virtual mode after mission relocates to Istanbul amid Middle East crisis
ISLAMABAD: The International Monetary Fund’s staff mission in Pakistan switched its talks with authorities to virtual format on Monday after relocating to Istanbul on security advice from Washington headquarters, following U.S. and Israeli strikes on Iran.
UPDATED – KSE-100 suffers biggest one-day drop ever after PSX halt on Iran strikes
KARACHI: Pakistan’s benchmark stock index suffered its biggest one-day drop on record on Monday after a sharp early plunge triggered a market-wide trading halt, as escalating military conflict in the Middle East sent oil prices soaring and sparked panic selling.
Pakistan stocks crash 9 percent in five minutes as Iran conflict triggers PSX halt
KARACHI: Pakistan stocks opened to chaos on Monday, with the KSE-100 Index plunging almost 9 percent in the first five minutes of trade before the Pakistan Stock Exchange pulled the plug on all equity trading as Middle East conflict sent oil prices rocketing and triggered outright panic.
Pakistan raises petrol by Rs8, diesel by Rs5.16 a litre
ISLAMABAD: Pakistan raised retail fuel prices Saturday, lifting petrol by Rs8 a liter and high-speed diesel by Rs5.16 for the coming fortnight.
Pakistan consumer confidence climbs as right-track views triple, Ipsos survey shows
KARACHI: Consumer confidence in Pakistan rose four points over the past two years to 35.5, as fewer households cited inflation, poverty and unemployment as pressing worries and more saw the country heading in the right direction, an Ipsos survey showed.
Pakistan flags geopolitical, commodity risks as growth momentum builds
ISLAMABAD: The Finance Ministry on Friday warned of persistent downside risks from geopolitical uncertainties and global commodity price volatility, even as it signalled markedly improved growth prospects for the fiscal year.
Senate passes virtual assets bill, granting legal backing to dedicated regulator
ISLAMABAD: The Senate passed the Virtual Assets Bill 2025 on Friday, paving the way for the establishment of a dedicated regulatory authority to license, regulate and supervise virtual asset activities across the country.