PM orders swift action against over-invoicing scam, calls taxpayer money trust of nation

Prime Minister Shehbaz Sharif on Wednesday ordered expedited legal action against all those involved in over-invoicing, terming it a “heinous practice” that went unchecked for years due to institutional negligence. Chairing a weekly review meeting on the affairs of the Federal Board of Revenue (FBR), the premier was briefed on a committee report probing over-invoicing. […]

Fact check: Viral video does not show Saudi FM announcing end of reliance on US amid Mideast tensions

Multiple users have been sharing a video on social media platforms X and Facebook since Tuesday, showing Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan allegedly announcing the end of reliance on the US. However, the video is old and does not contain any such statement. The conflict between the United States, Israel, and Iran […]

PSX surges over 4,700 points as Saudi funds lift market sentiment

Buying momentum continued at the Pakistan Stock Exchange (PSX) on Wednesday, with investors reacting positively to the Kingdom of Saudi Arabia’s commitment of an additional $3 billion in deposits for Pakistan, boosting market sentiment early in the session. The benchmark KSE-100 Index, at 12:34pm, stood at 170,347.47 – up 4,712.63 points, or 2.85%. Trading commenced on […]

Iranian supertanker reached Iranian waters via Strait of Hormuz despite US blockade threats: report

A giant Iranian crude carrier entered Iranian waters after transiting the Strait of Hormuz despite US blockade threats, Iranian media claimed on Wednesday morning. According to Iran’s Fars News Agency, the supertanker, which it said is capable of carrying around 2 million barrels of crude oil, sailed through international waters and the Strait of Hormuz […]