Oil prices rose on Wednesday, extending the previous day’s gains, after the US shot down an Iranian drone and armed Iranian boats approached a US-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in tension between Washington and Tehran. Brent crude futures were up 65 cents, or 1.0%, at $67.98 per barrel…
Islamabad: Pakistan has requested Saudi Arabia to extend its deferred oil payment facility worth $1.2 billion, seeking to ease pressure on the country’s balance of payments, sources said on Wednesday. According to officials, Pakistan has asked the Saudi Fund for Development to defer oil import payments for an additional year. Petroleum imports—primarily sourced from Saudi…
KARACHI: The National Accountability Bureau (NAB) has filed a reference in an accountability court against a private sugar mill and officials of the Trading Corporation of Pakistan (TCP), Beyond the Time News reported. The Ministry of Commerce lodged a complaint with NAB over alleged misappropriation involving 5,365 metric tons of sugar. The issue was previously…
As of February 4, 2026, high-quality Millberry scrap copper is trading at approximately Rs. 5,500 per kg in major cities including Karachi, Lahore, Islamabad, and Gujranwala. Refined new copper continues to trade at a premium (generally Rs. 5,800 – 6,200+ per kg depending on purity & location). Meanwhile, international copper prices have shown some downward…
Tesla sold less than half the number of battery-electric vehicles recorded by Chinese rival BYD in the UK last month, data from New Automotive showed on Wednesday, pointing to mounting competitive pressures on the US. automaker. UK car sales of Tesla plunged more than 57% over the year earlier to 647 vehicles in January, the…
ISLAMABAD: The Federal Board of Revenue (FBR) has issued revised property valuation rates for Islamabad following demands from traders, cutting values by 30 to 50 per cent, according to an official notification. Under the revised assessment, the FBR has revalued residential and commercial plots at 68 different locations across the federal capital. In Sector B-17,…
Islamabad, February 3, 2026, The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), in collaboration with Ipsos, today officially launched Pakistan’s first homegrown survey, the Index of Transparency and Accountability in Pakistan (iTAP), during a launch ceremony held at the FPCCI Capital House, Islamabad, at 11:00 AM. The ceremony was graced by Federal Minister…
KARACHI: The statistics released by the All Pakistan Cement Manufacturers Association (APCMA) show strong growth in the cement sector in Pakistan, with exports rising sharply by over 61 percent in January 2026. According to the figures, total cement sales increased by 12.54 percent during the last month. Overall sales reached 4.538 million tonnes in January…
KARACHI: The National Bank of Pakistan (NBP) published its latest exchange rate sheet today, listing the official buying and selling rates for major foreign currencies in both cash and telegraphic transfer (TT/OD) segments. TT stands for Telegraphic Transfer. It refers to the electronic transfer of funds (non-cash) between banks, and the TT rates are the…
KARACHI: The Assistant Commissioner (AC) of Saddar, alongside police, raided Hashoo Centre and sealed approximately 200 shops after discovering severe safety lapses in the building, Beyond the Time News reported. AC Saddar Rana Safiyan and law enforcement sealed all shops on the building’s first floor, including a renowned biryani outlet, due to a lack of…