The suspension of visa issuance by the United Arab Emirates (UAE) for Pakistani nationals has begun to take a heavy toll on Pakistan’s exports and international trade engagement, according to Ismail Suttar, Founder Chairman of the Salt Manufacturers Association of Pakistan (SMAP). Speaking on the issue, Ismail Suttar said the UAE was currently not issuing visas to Pakistani citizens under any c
Oil prices erased some of their previous gains on Thursday, despite escalating attacks in the Gulf as investor focus shifted to supply flows through the key choke points in the region. Brent futures fell 96 cents, or 1.06%, to $89.78 a barrel as of 0418 GMT. US West Texas Intermediate (WTI) crude fell 64 cents, or 0.76%, to $83.82 a barrel. Brent settled up 7.91% in the previous session a
Pakistan’s small and medium enterprises (SMEs) have warned that disruptions in the Red Sea and tensions in the Middle East are hurting exports to key Gulf markets, prompting calls for government support to diversify shipments towards Africa. The development came during a meeting between Federal Minister for Commerce Jam Kamal Khan and a delegation of the Gujranwala Small Chamber of Commerce, wh
A QatarEnergy-controlled liquefied natural gas tanker exited the Strait of Hormuz overnight and is set to arrive at Pakistan’s Port Qasim on July 31, the first such vessel visible on ship-tracking data to leave the waterway since July 11, data from analytics firms showed on Thursday. The Al Areesh tanker, which loaded a cargo at Qatar’s Ras Laffan terminal around July 4-6, sailed out of the str
Selling pressure was observed at the Pakistan Stock Exchange (PSX) after fresh attacks in the Middle East shattered the relative calm of recent days in the US-Iran war, with the benchmark KSE-100 Index shedding over 1,300 points during the opening minutes of trading on Wednesday. At 9:35am, the benchmark index was hovering at 176,259.26, down by 1,364.62 points or 0.77%. Selling was seen in