The Strait of Hormuz’s closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters analysis found. Iran effectively shut the Strait – a route for about a fifth of global oil […]
Prime Minister Shehbaz Sharif on Monday underscored the need to introduce environment-friendly electric vehicles (EVs) across the country, citing the evolving regional situation and rising global petroleum prices as key concerns, and stressing the importance of conserving foreign exchange reserves. Addressing a ceremony marking the provision of eco-smart electric vehicles to the Islamabad Capital Traffic […]
Chinese President Xi Jinping has called for accelerated planning and construction of a new energy system to safeguard the country’s energy security, weeks into the Iran war that has triggered global energy shocks. The leader of the world’s second-largest economy also emphasised hydropower development and ecological protection, while urging the safe and orderly expansion of […]
Pakistan International Airlines (PIA) on Monday announced that it had abolished all fare discounts and reduced its international flight operations in response to continuously rising aviation fuel prices amid austerity measures. In a statement issued by the spokesperson, the flights to Beijing and Kuala Lumpur would be suspended from April 11 and April 14, respectively, […]