The Trump administration’s proposed massive port fees on Chinese-built and –operated cargo vessels set in motion the bigger threat of a trade war besides potentially disrupting global supply chains and creating uncertainty in the global maritime industry. The proposed US action to curb China’s dominance in shipping and revive its own shipbuilding industry will expand the punitive tariffs agains
The federal government is set to announce a “major” relief package today (Thursday), according to social media posts by government and high-ranking officials. The government on Wednesday posted on its official X account that “great news for the entire nation” would be unveiled today, without providing any details about the announcement itself. The post bore the hashtag ‘Small Eid, Big Gift’, re
Gold prices rose towards their record high on Wednesday, supported by safe-haven demand as markets braced for US President Donald Trump’s latest tariff plans later in the day. Spot gold was up 0.4 per cent at $3,123.05 an ounce at 01:46am EDT (1746 GMT). US gold futures settled 0.6pc higher at $3,166.20. “Risks remain that tariffs could stoke inflation, which has buoyed gold prices. While a
Amazon has made a last-minute bid to buy TikTok, which faces a US ban if not sold by its Chinese owner, the New York Times reported on Wednesday. The offer arrived in a letter to officials involved in talks regarding the sale of TikTok to appease US national security concerns, according to the New York Times. President Donald Trump has downplayed risks that TikTok is in danger of being banne
Planning Minister Ahsan Iqbal has urged the Pakistani business community in Saudi Arabia to play an active role in further enhancing trade relations with the kingdom. “These increased economic contacts provide a solid foundation for bilateral relations between nations, he said while addressing a reception hosted by the Pakistani business community in Jeddah on Wednesday. The minister outline