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.
Top Stories
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.”
IRSA demands provinces halt untreated wastewater discharges into Indus rivers as pollution surges
ISLAMABAD: Pakistan’s water regulator has directed the provincial governments to stop untreated wastewater from flowing into rivers and natural streams, citing a steady and documented deterioration in the quality of water that sustains the nation’s largest irrigation network.
JCP approves transfer of three Islamabad High Court judges amid deep internal rifts
ISLAMABAD: The Judicial Commission of Pakistan approved on Tuesday the transfer of three judges from the Islamabad High Court to provincial high courts, a decision reached by majority vote after weeks of procedural maneuvering and sharp constitutional concerns raised by the country’s top judge.
Pakistan sees 4 percent growth, lines up first Panda bond after Saudi inflows
ISLAMABAD: Pakistan’s economy is on track to expand about 4% in the current fiscal year, Finance Minister Muhammad Aurangzeb said Tuesday, as the government prepares to issue its first $250 million Panda bond in China’s domestic market in May and shifts toward commercial borrowing after a fresh Saudi deposit.
Imran Khan receives fourth eye injection at Islamabad hospital as political tensions over his health persist
ISLAMABAD: Imran Khan, former prime minister and founder of the opposition Pakistan Tehreek-e-Insaf party, underwent his fourth intravitreal injection at a state-run hospital in the capital on Tuesday as treatment for a serious retinal condition that has already claimed most of the vision in his right eye.
Pakistan test-fires indigenous Fateh-II missile in latest display of conventional strike capabilities
ISLAMABAD: Pakistan’s Army Rocket Force Command conducted a successful training launch of the indigenously developed Fateh-II missile system on Tuesday, the military’s media wing said, part of a sustained push by the country’s armed forces to refine their conventional missile arsenal.
Trump says Iran is in ‘state of collapse’ and wants Hormuz reopened immediately as White House examines latest proposal
ISLAMABAD: The White House said on Tuesday it was examining Iran’s latest proposal to unblock the Strait of Hormuz, even as Tehran declared that the United States was no longer in a position to “dictate” policy to other nations and President Donald Trump publicly described the Islamic Republic as being in a “state of collapse.”