Category: Business

Saudi Arabia’s crude oil production fell to 6.24 million barrels per day in August, the lowest level since 1990, as the ongoing US-Iran conflict continued to disrupt key oil export routes. Saudi Arabia reported the August production figure to OPEC, representing a decline of nearly two million barrels per day from July and more than…

Apple has officially launched its first foldable smartphone, the iPhone Duo, during the ‘Surprise and Shine’ event held on Wednesday. The device is set to go on sale soon and will be available in two colour options: Star White and Night Sky. The iPhone Duo is powered by Apple’s latest A20 Pro chipset, built on…

The Trump administration has reportedly imposed restrictions on Cognizant, one of the largest Indian technology companies listed in the United States, suspending the company’s new green card sponsorship filings following an investigation into alleged misuse of U.S. visa programs, wage suppression and violations of the rights of American workers. The U.S. Department of Labor has…

Around 96 percent of trade transactions between Russia and India are now being conducted in Indian rupees and Russian roubles, according to Ivan Nosov, head of Sberbank’s operations in India. Speaking in New Delhi, Nosov said Russia and India had established a stable rupee-rouble payment mechanism, allowing most financial transactions between the two countries to…

Benchmark Brent crude oil futures climbed past $100 a barrel on Wednesday, breaking through the symbolic threshold for the first time since July 24, as intensifying conflict in the Middle East heightened fears over oil supplies from the region. Brent crude futures were up $2.15, or about 2.2%, at $100.07 a barrel by 0721 GMT.…

The government has decided to increase the price of petrol by Rs12.90 per litre and high-speed diesel by Rs3.72 per litre, according to a notification. The new prices will take effect immediately, with the increase attributed to changes in international oil prices and other applicable pricing factors. The notification formally approves the revised petroleum prices.

The State Bank of Pakistan (SBP) is considering discontinuing the Rs10 currency note, Deputy Governor Dr Inayat Hussain told the Senate Standing Committee on Finance. Briefing the committee on the proposed new currency notes, Dr Hussain said the central bank had previously attempted twice to phase out the Rs10 note. He said the cost of…