SINGAPORE: Oil prices rose on Friday following a decision by Opec+ to keep its oil output policy unchanged, although benchmarks were headed for weekly losses amid unsubstantiated reports of a ceasefire between Israel and Hamas. Brent crude futures climbed 44 cents, or 0.6 per cent, to $79.14 a barrel by 0730 GMT, while US West Texas Intermediate crude futures gained …

ISLAMABAD: The apex committee of Special Investment and Faci­litation Council (SIFC) on Friday reviewed various initiatives being steered through the council and gave principle approval for Strategic Canals Vis­ion 2030 and Federal Board of Revenue (FBR) reforms. Caretaker Prime Mini­ster Anwaarul Haq Kakar along with Chief of Army Staff (COAS) Gen Syed Asim Munir presided over the ninth SIFC’s apex …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has asked the government to abolish cross-subsidies and multiple taxes within electricity tariffs. It also urged the government to start breaking up distribution companies and introduce private sector competition down to the feeder level to enhance efficiency and reduce the unaffordable burden on consumers. In its damning State of Industry Report 2023 released on …

A pigeon that spent eight months in Indian police custody has been released after it was finally cleared of being a suspected Chinese spy. The bird was caught at a port in the financial capital Mumbai with “messages written in a Chinese-like script” on its wings, the Times of India newspaper reported. “Initially, the police had registered a case of spying against the …

KUALA LUMPUR: Malaysia’s pardons board said on Friday it had halved the jail term for former premier Najib Razak, currently in prison for corruption, to six years. Najib was sentenced in 2022 to 12 years in jail for offences linked to the misuse of public money in the multi-billion-dollar 1MDB financial scandal. “After considering opinions and advice… the pardon board …

More than 800 serving officials in the US and Europe have signed a statement warning that their own governments’ policies on the Gaza war could amount to “grave violations of international law”. In the latest sign of significant levels of dissent within the governments of some of Israel’s key allies, the officials say their administrations risk being complicit in “one …

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu is engaged in intense political manoeuvring as pressure grows at home and abroad to obtain release of prisoners held in Gaza and bring fighting to a halt. A proposal to free the prisoners in exchange for a pause in Israel’s bombing of the Palestinian territory is being studied by Hamas leaders after it was …

TEHRAN/BEIRUT: Ira­n­ian President Ebrahim Raisi issued a stern warning on Friday against any possible attack by the United States in retaliation for a strike that killed three American troops in Jordan. The warning came as Israeli strikes killed three fighters, including an official of Iran’s Revolutionary Guards, in Syria. “We have said many times that we will not be the …

GAZA CITY: Israeli forces shelled the outskirts of the last refuge on the southern edge of the Gaza Strip on Friday, where the displaced, penned against the border fence in their hundreds of thousands, said they feared a new assault with nowhere left to flee. More than half of Gaza’s 2.3 million residents are now homeless and crammed into Rafah. …

The US State Department on Saturday cautioned American citizens to exercise vigilance during the upcoming general elections, scheduled for February 8. In a travel advisory, it highlighted potential disruptions and safety concerns linked to political activities, such as marches, rallies, and speeches leading up to election day. Acknowledging that public gatherings are intrinsic to the democratic process, the advisory underscored …