World Business NewsOil prices drop as OPEC+ accelerates output hikes
Brent crude futures drop 1.14 percent to $60.59 a barrel, while U.S. West Texas Intermediate crude falls 1.29 percent to $57.54
May 5, 2025
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World Business News
HeadlinesPTA's failure to whitelist over 10,000 seized phones halts auctions
Auction delay of tens of thousands of confiscated mobile phones results in significant revenue loss for national treasury
May 5, 2025
World Business NewsIndia terminates its executive director at IMF ahead of crucial meeting on Pakistan loan
Termination comes days before the IMF board meeting on May 9 to review a $7 ongoing loan and a $1.3 billion climate facility for Pakistan
May 5, 2025
World Business NewsTrump orders 100% tariff on foreign films, calls for ‘Made in America’
The decision targets foreign governments that offer tax breaks and incentives to lure film productions away from American soil
May 5, 2025
HeadlinesIMF directs Pakistan to close 1,000 Utility Stores, cut workforce by June 30
Fund seeks termination of over 4,000 employees and closure of additional stores as part of right-sizing measures
May 5, 2025
HeadlinesDelay in Central Selection Board’s approval causes uncertainty for over 700 bureaucrats awaiting promotion
Over 700 Grade-19 and 20 officers still waiting for final approval on their promotions after March CSB meeting
May 5, 2025
HeadlinesFBR hires industry experts to enhance audit expertise and improve compliance
Move aims to provide sector-specific insights and enhance the quality of audits within the relevant industries
May 5, 2025
HeadlinesGovt proposes reconstitution of LNG import committee after seven years of stalled consensus
Petroleum Division seeks to revive efforts to address LNG import issues and resolve Sindh's concerns
May 5, 2025
HeadlinesSalaries of federal ministers, advisors raised by 188% through presidential ordinance
Remunerations for federal ministers and ministers of state increased to Rs519,000, up from Rs200,000 and Rs180,000, effective from January 2025
May 5, 2025
HeadlinesFBR faces 13,000 complaints in first four months of 2025, up from 2,000 in 2024
The complaints highlight issues such as highhandedness, illegal notices, account attachments, fake invoices, sales tax account hacking, and procedural violations
May 4, 2025
HeadlinesBalochistan receives no revenue share from Gwadar Port, GPA confirms
Two of the port's operating entities contribute 9% of their revenue to the GPA, while a third contributes 15%, says GPA
May 4, 2025
TechSamsung challenges $520 million Indian tax demand over import classification
The company’s appeal argues that Indian authorities were fully aware of the import practices
May 4, 2025