ISLAMABAD: The National Accountability Bureau said Wednesday that Interpol has issued red notices for billionaire real estate developer Malik Riaz Hussain and his son Ali Riaz, escalating the anti-graft agency’s years-long effort to extradite the pair from the United Arab Emirates to face money-laundering and corruption allegations totaling more than Rs700 billion, or about $2.5 billion.
Latest
Islamabad High Court sets Thursday hearing on Imran Khan’s appeal in £190 million corruption case
ISLAMABAD: The Islamabad High Court on Wednesday scheduled oral arguments for tomorrow in the high-profile appeals filed by former prime minister Imran Khan and his wife, Bushra Bibi, challenging their convictions in a major corruption case involving £190 million in allegedly misused British crime proceeds.
Pakistan’s weekly oil import bill double to $800 million as Middle East war disrupts global energy markets
ISLAMABAD: Prime Minister Shehbaz Sharif told his federal cabinet on Wednesday that Pakistan’s weekly oil import bill has more than doubled to $800 million because of the sharp rise in global fuel prices triggered by the ongoing conflict in the Middle East.
Washington and Tehran Need an Off-Ramp Before It’s Too Late
The United States and Iran are locked in a dangerous limbo. A two-month war that began with joint US-Israeli strikes on Feb. 28 has killed thousands, shattered economies across the Gulf, and sent global energy prices soaring. A ceasefire brokered by Pakistan on April 8 has held, but barely. Now President Donald Trump has ordered his national security team to prepare a prolonged naval blockade of Iranian ports, a decision reached in recent Situation Room meetings and confirmed by US officials to The Wall Street Journal. At the same time, Tehran has floated a proposal to reopen the Strait of Hormuz in exchange for lifting that very blockade, while postponing any immediate reckoning over its nuclear program.
The Clock Is Ticking
As May 1 approaches, the United States finds itself at a constitutional crossroads of its own making. Two months ago President Donald Trump notified Congress that American forces had entered hostilities with Iran. Under the 1973 War Powers Resolution, that notification started a 60-day clock. When it expires this Thursday, the law is unambiguous: absent congressional authorization, the president must end the operations. The fragile ceasefire does not change that. The naval blockade of Iranian ports keeps US ships and sailors legally in a state of hostilities. Trump has made clear he has no intention of complying.
Cambodia to repatriate 54 Pakistanis held over online scam operation
ISLAMABAD: Cambodian authorities have agreed to the swift repatriation of 54 Pakistani nationals arrested in a police raid on a scamming compound in Siem Reap province, Pakistan’s Foreign Office said on Tuesday, capping weeks of diplomatic pressure over the treatment of more than 200 Pakistanis held in overcrowded Cambodian detention facilities.
UAE quits OPEC in surprise break, stripping cartel of key swing producer amid Gulf tensions
ISLAMABAD: The United Arab Emirates said on Tuesday it will withdraw from OPEC and the broader OPEC+ alliance, effective May 1, removing the cartel’s third-largest producer and one of its few members with significant spare capacity at a moment when the US-Israeli war with Iran has already triggered a historic energy shock and disrupted global oil flows.
PIA fully privatised as Arif Habib consortium pays up for final 25 percent stake
ISLAMABAD: The Arif Habib-led consortium has acquired the remaining 25% stake in Pakistan International Airlines from the government, taking private ownership of the national carrier to 100% and clearing the way for a complete operational overhaul.
Afghanistan protests alleged Pakistani strikes in Kunar as Islamabad targets Taliban posts in Chaman
ISLAMABAD: Afghanistan on Tuesday summoned Pakistan’s chargé d’affaires in Kabul to protest what it claimed as Pakistani strikes this week on civilian areas and public infrastructure, including the Sayed Jamaluddin Afghani University and residential neighborhoods in eastern Kunar province, the Afghan foreign ministry said.
Nepra scraps solar licensing fee for small rooftop systems after public backlash
ISLAMABAD: The National Electric Power Regulatory Authority withdrew on Tuesday the licensing requirement and associated fee for rooftop solar systems up to 25 kilowatts, reversing a policy that had triggered widespread criticism of the government for imposing what critics called a “tax on sunlight.”