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Oil Prices Jump Above $110 as Hormuz Closure Fears Deepen Amid Iran War
Casablanca – Oil prices opened higher Sunday, with both global benchmarks pushing well above the symbolic $110-a-barrel mark as markets remain on edge over the prolonged war in the Middle East and the near-total closure of the Strait of Hormuz, one of the world’s most critical energy chokepoints. By 22:45 GMT, US West Texas Intermediate (WTI) for May delivery was up 2.89% at $114.76 a barrel, while North Sea Brent for June gained 2.04% to $111.26. Minutes after trading began, WTI briefly climbed...
Karachi traders propose new market closing hours
KARACHI: Traders and business representatives in the metropolitan city have proposed revised operating hours for markets, wedding halls and restaurants during a high-level consultative meeting chaired by the Chief Minister of Sindh, Syed Murad Ali Shah. The meeting was convened to discuss the federal government’s directive to close markets earlier in the evening, as well as the smart lockdown measures. The Chief Minister of Sindh, Murad Ali Shah, has apprised traders in Karachi that the federal...
Dollar and Other Currency Rates in Pakistan Today- April 06, 2026
Karachi, April 06, 2026 – The State Bank of Pakistan (SBP) has published its latest Mark-to-Market (M2M) currency rates for authorized dealers, providing updated reference rates for foreign currency transactions against the Pakistani Rupee (PKR). Here’s a comprehensive breakdown of today’s key currency rates for traders, importers, exporters, and remittance senders. US Dollar (USD) at PKR 279.07 The US Dollar, Pakistan’s most traded foreign currency, is quoted at PKR 279.07...
Sajal Aly has a message for all amid petrol price hike
KARACHI: Showbiz star Sajal Aly has made a heartfelt appeal following the recent hike in petrol prices in the country amid the global crisis. The renowned actress wrote an emotional note on her Instagram, highlighting that the people who deliver food and provide transport spend their entire day on the streets. She noted that the situation has worsened significantly for them after the rise in fuel costs. In this regard, Sajal Aly urged citizens to show sympathy toward these hardworking individual...
Duchess of Edinburgh's 'secret turmoil over Andrew' as she skips Easter service
Sophie, Duchess of Edinburgh, was a no-show at the royals' Easter Matins service. This weekend, her husband, Prince Edward, became the first royal to visit disgraced Andrew Mountbatten Windsor in Sandringham
Silver Rate Today in Pakistan- April 6, 2026
Karachi, April 6, 2026 – Silver prices in Pakistan have displayed firm strength today, with the chandi ka rate at Rs. 7,619–7,771 per tola—demonstrating sustained momentum driven by international precious metals trends and active local demand. This performance continues the recent positive pattern, as silver remains responsive to global market signals. Current local rates stand at Rs. 6,539–6,661 per 10 grams and Rs. 653.9–666.1 per gram, supported by international spot silver activity and its r...
UAE job demand to rise by 1 million by 2030 amid AI push
Dubai: The UAE will need to add around one million new workers by 2030 as economic expansion, digital transformation and artificial intelligence adoption accelerate, according to a new report by ServiceNow and Pearson, with experts saying the shift will significantly reshape investment priorities, hiring strategies and national workforce development. Sign up for our daily business newsletter, Cheques & Balances.Hamza Dweik, Head of Trading for the Middle East and North Africa at Saxo...
Dubai’s ultra-prime rental market sets new benchmark with Dh20 million Marsa Al Arab Villa lease
Dubai’s real estate market continues to demonstrate resilience and global appeal, with a record-setting lease at the exclusive Marsa Al Arab Villas underscoring sustained strength at the very top end of the sector.In one of the most significant residential rental transactions to date Sabeeha Bham, senior private client advisor of luxury residences and Dr Taieser Al Saati, executive partner of Sotheby’s International Realty super prime experts, secured an ultra-private beachfront villa for Dh10 m...
Eligibility conditions for fuel subsidy announced
ISLAMABAD: Federal Minister for Information Technology Shaza Fatima Khawaja has announced that fuel subsidies will only be provided to vehicles registered with the Excise Department, as part of the government’s relief package, ARY News reported. The federal government, under the direction of Prime Minister Shehbaz Sharif, has begun implementing the relief measures ahead of schedule to ease public hardship. The digital transfer system for subsidies was officially launched last night to ensure tra...
Borouge suspends Ruwais production after debris damage, no injuries reported
Dubai: Borouge Plc confirmed that the incident at its Ruwais Industrial Area facilities on Sunday led to asset damage and a temporary halt in affected operations.Get updated faster and for FREE: Download the Gulf News app now - simply click here.The company stated: “Borouge Plc confirms that an incident occurred at its production facilities located at the Ruwais Industrial Area on 5 April.”It added that “following a successful interception by air defence, falling debris resulted in damage to as...
Sharjah Ramadan Festival winners take home 2 Nissan Patrols, sales jump 95%
Dubai: Sharjah wrapped up its Ramadan Festival promotions with two Nissan Patrol SUVs awarded to winners, alongside more than 90 prizes distributed during closing events in Al Dhaid and Fili.Sign up for our daily business newsletter, Cheques & Balances.The draws took place at Souq Shari’at Al Dhaid and Fili Heritage Souq, where visitors gathered for the final ceremonies that marked the end of the “Al Dhaid and Fili Nights” initiative.Mohammed Yousif Abdulrahman and Alya Saif Al Muhairzi were an...
Saudi Arabia’s damage from US operation against Iran exceeds $10 bln — WSJ
The country’s authorities and major state-owned companies are revising the schedule for major infrastructure projects, including the construction of new skyscrapers, in an effort to reduce their current spending
Blue states are changing the tax rules on the wealthy and it's going to cost all of us
Every politician eventually runs out of other people's money to spend. Blue state governors and legislators are just running out faster than the rest.Right now, there is a coordinated wave of new tax proposals sweeping California, New York, Washington state, Massachusetts, Michigan and Connecticut. The common thread? They all believe the solution to self-inflicted budget crises is to reach deeper into the pockets of their most productive residents. And if those residents decide to leave, they wa...
Can palm biodiesel provide quick relief for Malaysia amid Iran war?
Malaysia is facing renewed pressure to expand palm-based biodiesel as the Iran war drives up fuel costs, but industry and academic observers say high infrastructure costs and slow roll-out make it an unlikely source of quick relief. That tension has sharpened as the government confronts a swelling fuel subsidy bill and greater exposure to imported supply shocks. The finance ministry last month said petrol and diesel subsidies could reach 4 billion ringgit (US$903 million) a month with crude oil....
Tax cuts are the hot new idea for Democrats
ElectionsTax cuts are the hot new idea for DemocratsNew tax cut plans from 2028 presidential prospects and major Democratic candidates for governor have spurred a "wonk revolt" from liberal and moderate policy experts.Listen to this article with a free account00:0000:00Sen. Cory Booker of New Jersey and former Rep. Katie Porter of California are among Democrats pushing new tax breaks.Getty ImagesShareAdd NBC News to GoogleApril 6, 2026, 5:00 AM EDTBy Sahil KapurWASHINGTON — Tax cuts ar...
DAMAC records Dh3.12 billion in March sales as Q1 property activity surges
Dubai: Dubai’s property market closed March with a clear leader, with DAMAC Properties topping sales activity by a wide margin as demand held firm despite regional tensions.Sign up for our daily business newsletter, Cheques & Balances.The developer recorded Dh3.12 billion in sales across 1,106 transactions during the month, placing it well ahead of peers in terms of deal volume. That performance capped a strong first quarter, with DAMAC selling 3,663 units. The developer has a pipeline of more...
Gulf war batters India’s glass heartland, testing New Delhi’s manufacturing drive
Famed as India’s “Glass City” with a four-century tradition of glassmaking, Firozabad’s furnaces are now burning low, putting thousands of day labourers out of work in what would normally be peak season. The industry has been crippled by the war in the Middle East because of its intense energy needs. Gas-fired heat chambers need to run constantly at above 1,000 degrees Celsius (1,832 degrees Fahrenheit) to keep the glass molten and prevent defects. India’s heavy reliance on gas across the econom...
Motorcycle, rickshaw transfer fees abolished amid petrol price hike
PESHAWAR: The Khyber Pakhtunkhwa (KP) government has abolished transfer fees for motorcycles and rickshaws by approving an amendment to the Motor Vehicle Registration Bill. This move aims to provide relief to the public amid the fuel crisis caused by the ongoing conflict in Iran, ARY News reported. Dawood Shah, a member of the ruling Pakistan Tehreek-e-Insaf (PTI) party, presented the private member’s bill in the KP Assembly. Under the new legislation, the Rs 500 transfer fee for motorcycl...
Trade minister announces round-the-clock management to supply goods, control market
TEHRAN- The Minister of Industry, Mining and Trade stated that the central headquarters of the ministry was formed in the very first hours of the war, adding: "The managers, deputies, and staff of this ministry have been present at their workplaces around the clock, without leaving the field for a single moment."
Short-term exits from the UAE could trigger unexpected tax exposure for expats, SJP warns
With more UAE-based expats spending time abroad in recent weeks, whether through short trips, extended stays, or unplanned travel, now is a natural point to review whether financial and tax positions still reflect reality.In periods of heightened uncertainty, it is natural for decisions to be guided by what feels right for family or immediate circumstances. Where travel patterns shift as a result, details like tax position or residency may not always be revisited straight away, even where the u...