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Iran warns US forces can be ‘grounded’ as Tehran highlights Strait of Hormuz leverage

Iran’s Navy commander Rear Admiral Shahram Irani. Photo: Iranian media TEHRAN: Iran’s Navy Commander Rear Admiral Shahram Irani said on Monday that the United States was “deeply concerned” about Iran’s military operations, warning that Tehran’s armed forces could “ground” US forces wherever necessary, state-run IRNA reported. Irani said Iran’s armed forces must remain fully prepared […]

PM Shehbaz pledges to take Pakistan-Kyrgyzstan trade to $200m

Present-day bilateral trade of $16m “not a patch” on strong relations between two states, says Premier Shehbaz Prime Minister Shehbaz Sharif on Wednesday vowed to take bilateral trade with Kyrgyzstan to $200 million within two years, urging stronger engagement between the two nations. “Our present day bilateral trade hovers around $16 million which is not […]

A model of an oil pump is seen in front of the OPEC logo in this illustration taken

Hormuz disruption risk keeps oil markets on edge despite easing US-Iran clashes

Market experts say global crude prices eased on tentative signs that the latest flare-up has started losing momentum Oil prices edged lower on Thursday as investors weighed the uncertainty of renewed military strikes between the US and Iran that risk disrupting supplies from the Middle East. Brent crude futures fell 43 cents, or 0.45%, to […]

US Approves Possible $5 Billion Arms Sale to Saudi Arabia Amid Middle East Tensions

President Trump formalised a strategic economic partnership during a ceremonial signing with Saudi Crown Prince Mohammed bin Salman. PHOTO: CNN WASHINGTON: The United States has approved a possible $5 billion arms sale to Saudi Arabia, including bombs, guidance kits and related military equipment, as tensions continue to escalate across the Middle East. The proposed deal […]

Oil prices set for weekly gain as US-Iran hostilities intensify

Brent crude futures down 47 cents or 0.49% at $95.05 Oil prices eased on Friday but were still headed for a ‌weekly gain as rising US-Iran tensions heightened concerns over Middle East supply risks. Brent crude futures were down 47 cents or 0.49% at $95.05 a barrel by 1:13pm PKT, while US West Texas Intermediate crude futures lost […]