Tehran, July 29: Iran has reportedly rejected a proposal put forward by Oman concerning the management of maritime traffic through the Strait of Hormuz, instead suggesting a framework involving partial management of an Omani shipping route, according to officials familiar with the discussions. The proposal emerged during ongoing regional consultations aimed at ensuring the security and uninterrupted flow of commercial …

London, July 29: Global oil prices fell nearly 5% to their lowest level in two weeks, as easing concerns over supply disruptions and expectations of steady production weighed on energy markets. Benchmark crude prices declined sharply during trading after investors reassessed geopolitical risks and monitored signals that major producers would maintain adequate supplies. Analysts said improved market sentiment reduced fears …

Islamabad, July 29: Prime Minister Shehbaz Sharif has directed authorities to resolve outstanding issues delaying the implementation of the country’s refinery policy, paving the way for long-awaited upgrades aimed at modernizing Pakistan’s oil refining sector. During a high-level meeting, the prime minister reviewed progress on the policy and instructed relevant ministries to remove administrative and regulatory bottlenecks that have slowed …

Islamabad, July 29: Pakistan’s ambitions to build a competitive digital economy will depend less on announcing new policies and more on effectively implementing existing reforms, according to industry experts who say execution remains the country’s biggest challenge. While successive governments have introduced initiatives aimed at expanding digital infrastructure, encouraging innovation, and promoting information technology exports, analysts argue that tangible progress …

Islamabad, July 29: Pakistan’s provinces have collectively sought 2.2 million metric tonnes (MMT) of wheat to meet domestic consumption requirements and maintain adequate strategic reserves, prompting discussions between federal and provincial authorities over allocations and procurement. According to officials familiar with the matter, the demand reflects provincial efforts to ensure stable wheat supplies ahead of the coming months and prevent …