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Pakistan has announced a sharp increase in petrol and diesel prices for the second time in less than a month, amid the ongoing Middle East war that has deeply impacted the global oil crisis.The latest hike is expected to worsen inflationary pressures and add to the economic burden on citizens already struggling with rising costs.The revised fuel prices were announced by petroleum minister Ali Pervaiz Malik during a press conference broadcast on state television, alongside finance minister Muhammad Aurangzeb.
Diesel prices have been raised by 54.9 per cent to 520.35 rupees per litre, while petrol prices have increased by 42.7 per cent to 458.40 rupees per litre, according to Reuters. The government has also increased kerosene prices by Rs34.08 per litre, taking it to Rs457.80 per litre. The new rates have come into effect immediately, making fuel significantly more expensive across the country.‘Inevitable decision’ amid global turmoilDefending the price hike, Malik said that the government had little choice but to pass on the burden of rising global oil prices to consumers. He stated that international markets had become highly volatile following the US-Iran war, which has disrupted supply chains and pushed crude prices sharply higher.Calling the decision ‘inevitable’, he said, “It was inevitable to raise the prices due to the international market prices going out of control after the US-Iran war.”
The sharp increase in fuel prices is closely linked to geopolitical tensions in the Middle East and Pakistan’s heavy reliance on imported oil. The ongoing conflict has disrupted supply routes, particularly through the Strait of Hormuz, a critical passage for global oil shipments. Pakistan depends largely on imports from countries such as Saudi Arabia and the United Arab Emirates, making it highly vulnerable to fluctuations in international prices. At the same time, global benchmarks have risen sharply, with oil markets witnessing significant volatility, leaving import-dependent economies like Pakistan with limited options.The government indicated that it can no longer sustain large-scale fuel subsidies due to mounting fiscal pressure. Malik said that around Rs129 billion had already been spent over the past few weeks to shield consumers from rising prices, according to Dawn. With limited resources and no immediate end to the conflict in sight, the government has decided to move away from blanket subsidies and instead focus on targeted assistance for the most vulnerable sections of society.“Since the resources are limited and there is no end to this war in sight, there was no way to continue with a blanket subsidy,” he said.
Finance minister Muhammad Aurangzeb announced a set of targeted relief measures aimed at cushioning the impact on specific groups. These include subsidies for motorcyclists, support for small farmers and financial assistance for the transport sector to help stabilise fares and ensure the continued movement of goods and passengers. The government also plans to extend support to low-income travellers using rail services.
THANE: One person was killed and two others were injured in Mumbra on Thursday when a 51-year-old man fired at them for allegedly harassing a woman he considered his sister.The firing took place at around 11:30 am near Sumatibai Chavan Hindi Primary School in Mumbra’s Kailas Nagar area, which is under the jurisdiction of Mumbra police station. Police arrested the accused, Jayen Shivanandan Nair. According to the police, a minor dispute had erupted over the cutting of a banana tree within the school premises, where the woman accused considers his sister works as a caretaker. The dispute led to a heated argument between the woman and three individuals, during which, the woman allegedly told the accused, she was harassed by the men, Anil Shinde, senior inspector of Mumbra police station said.In a fit of rage, the accused then allegedly opened fire, injuring the three persons. The victims were rushed to Kalsekar Hospital, where one of them, Akbar Abdul Sheikh, was declared dead during treatment. The two other injured persons are in a stable condition, police said.Police said the accused shares a close bond with the woman’s family. When he was nine years old, he had lost his parents in Kolkata. During that period, the mother of the woman took him in and raised him, making him feel particularly protective towards the family, the police said.Police have recovered the weapon, a country-made firearm, used in the crime. During questioning, the accused claimed that he had found the firearm during a trip near a secluded spot along the Gujarat border and had kept it.The incident has raised fresh concerns over gun-related violence in Mumbra as it comes days after another firing case involving Nadeem Khan alias Baba Khan, where the accused allegedly fired at the police while attempting to evade arrest. A separate case of firing was also reported last week in Thane’s Pachpakhadi area.With at least three firing incidents in Thane within a month, questions have been raised about law and order, policing and public safety.
BENGALURU: A 65-year-old Dutch national of Indian origin has been arrested for allegedly sending a parcel containing unusual items to the administrative office of Kempegowda International Airport in Bengaluru, police said. According to news agency PTI, the man, identified as Subhash Jai Ajeez, had sent the parcel in January this year. According to police, it contained a toothpaste cover, decaying flower garlands, rotten tomatoes, pieces of iron and obscene photographs. Authorities carried out a preliminary inquiry before filing a formal complaint on March 4. Police said they traced Ajeez using CCTV footage and local intelligence. He was found sleeping near a temple in the Madiwala area of the city, a senior officer said. During questioning, Ajeez told police that he did not have any malicious intent and claimed the parcel was part of a ritual meant to prevent “untoward incidents” at the airport. He also told officers that he had sent similar parcels to other airports, the officer added. Police said Ajeez is an Overseas Citizen of India (OCI) cardholder and a retired professional who receives a monthly pension of about €2,000. “He seemed to be mentally disturbed. He claimed he did not have any ill intention of creating any kind of trouble but only intended to ensure that no untoward incidents occur at Bengaluru airport,” the officer said. Ajeez has been remanded to judicial custody. Police said further action would depend on the results of his medical examination, adding that the investigation is ongoing.
Oil prices rose sharply on Friday as tensions in the Middle East intensified, with the US launching more strikes on Iran, fueling concerns over the energy supply flows through the Strait of Hormuz. Brent crude, the global benchmark, climbed 7.8% to $109.03 per barrel after soaring beyond the $111 per barrel mark. At the same time, WTI crude oil futures for near-term delivery next month recorded their largest-ever premium over second-month contracts, rising to $111.54, up 11.41%. Earlier in the session, the US Crude had jumped beyond the $113 per barrel mark. Meanwhile, the spot price for Brent crude oil for immediate physical delivery surged even higher, to a whopping $141.36, hitting highest level since the 2008 financial crisis, according to S&P Global data, cited by CNBC. The spot price reflects demand for cargoes scheduled for delivery within the next 10 to 30 days.The latest surge builds on an earlier rally in oil markets, which saw prices swing sharply during the previous session. Prices had initially fallen as traders reacted to uncertainty ahead of Donald Trump’s national address, but rebounded after his remarks did little to ease concerns over the Strait of Hormuz. Earlier in the day, Brent crude had dropped $1.16 to $100 per barrel, while US West Texas Intermediate fell $1.41 to $98.71. Sentiment later shifted, with Brent rising more than 4% to $106 and WTI climbing 3% to $103 following the speech.This comes as Iran continues to choke the Strait of Hormuz, disrupting shipping flows through the strategically important passage that normally handles about a fifth of global oil trade during peacetime.The ongoing US-Israeli war on Iran, now nearing the end of its fifth week, has removed millions of barrels per day from global supply, pushing energy prices to multi-year highs and triggering fuel shortages in countries dependent on oil and gas shipments through the now-blocked Strait of Hormuz.Around 20% of global oil flows through the strategic chokepoint. In a Wednesday evening address, Trump vowed to hit Iran “extremely hard” in coming weeks but did not outline a plan to reopen the strait, suggesting instead that other nations should take responsibility for restoring shipping access.
BENGALURU: As hiring patterns shift and companies prioritise job-ready talent, engineering colleges across India are embedding industryled courses, certifications and internships into their curricula to narrow the gap between academia and the workplace. These programmes, however, are inherently short-term, often lecture-driven, and closely tied to current technology demand — making them prone to rapid obsolescence as industry needs evolve.At Gitam University, industry participation is integrated through credit-based courses designed and delivered with companies such as Google, Capgemini and Wipro. Typically carrying 2–3 credits (48–72 hours), these are spread across semesters and cover AI, data analytics, Python, Power BI and cloud technologies. Niche subjects like GenAI and prompt engineering are taught by industry practitioners.“There are certain topics which faculty cannot handle… for that we bring in trainers from companies like IBM, Google and Microsoft,” said Edwin Anthony, senior director at Gitam University.At the Manipal School of Information Sciences, collaborations with GE Medical Systems, Infineon and Philips have shaped specialised programmes aligned to industry needs.“We realised that if you tie up with one single company, competitors will not take your students,” said Keerthana Prasad, professor and director at the institute.Programmes have evolved with market demand — from medical software to healthcare data analytics, then broader big data. “Whatever is relevant today may not be in a few years… we constantly adapt,” Prasad said, adding that nearly 90% of placements are secured through internships enabled by such programmes.In contrast, institutions like IIIT-B take a more balanced approach. “Educational institutions are not training centres,” said R Chandrashekhar, dean of academics at IIIT-B. But Silicon Labs recruits only from students trained in its partner programmes. Happiest Minds has hired around 100 students through a trainand-hire model, said Rajesh Chandran Sogasu, head of talent acquisition and L&D.
NEW DELHI: The next six weeks could see at least three of the trade deals finalised by India — with Oman, the UK and New Zealand — being operationalised, even as it seeks to ensure a preferential duty advantage in the US, once Washington finalises its strategy after the Supreme Court setback on reciprocal tariffs.Commerce and industry minister Piyush Goyal told reporters that India and New Zealand are looking to sign the free trade agreement (FTA) in the fourth week of April, while talks are underway with Oman to implement the treaty from May 1. He also said that it is possible that agreement with the UK will be implemented in the next fourto-six weeks. Commerce secretary Rajesh Agrawal added that India and Chile have also agreed to fast track talks for the proposed trade deal , while preferential trade agreement with the South African Customs Union may be firmed up in 2026. Also, India and Peru are seeking to narrow their gaps through a package to break the deadlock in talks.
Goyal, who was in Cameroon for the WTO ministerial conference last week, also said that during his meeting with his Chinese counterpart Wang Wentao he discussed ways to expand trade with higher exports of pharma, food and fisheries. This was the first meeting between trade ministers after India decided to exit RCEP a few years ago.At the ministerial meeting, India backed extending the moratorium on imposing import duties for cross-border electronics transmission for longer period, Goyal said. On Thursday, it emerged that 23 countries including the US, the UK, Japan and South Korea, which were demanding a permanent moratorium, have agreed to maintain the current practice of not imposing customs duties on electronic transmissions “among ourselves” until WTO’s general council meeting in Geneva.
NEW DELHI: Tata Sons chairman N Chandrasekaran has asked over 30 CEOs and managing directors of group companies to brace for a tougher business environment, as the war in West Asia is disrupting supply chains, sources said.At a review meeting on the war’s implications on Thursday, Chandrasekaran told top executives that more than 10,000 Tata employees are based in the region, including those from Voltas, TCS, Indian Hotels, and Titan (including Damas), and outlined steps to facilitate their return, according to a person with direct knowledge.
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During the assessment, a common theme that emerged was that supply chain disruptions and rising commodity prices would weigh on demand, while pushing up operating costs, resulting in margin pressure, the sources said. For many of the companies, it would mean that production yield is likely to be less than capacity.“The chairman advised to be prepared for tougher business environment marked by demand slowdown, project delays, driven by supply chain disruptions and cost increases due to oil price, shortages, currency movements, logistics costs, among others,” the source said.Chandrasekaran recommended measures that need to be focused on conserving and managing cash carefully and judiciously. He also advised careful choosing of starttime for projects and “if necessary, have a relook at the timelines”. Top group executives were also informed about the need to enhance cyber security readiness and network resilience, run cost improvement programmes with clear targets. Moreover, he also stressed on the need to “take care of employees, including temporary employees”.“Further, we need to immediately address anxiety and stress-related issues of our employees and their families in the region.” Chandrasekaran said the group has assisted in enabling travel back home of employees and their families in transit in the UAE through Air India.He urged executives to be prepared for post-recovery scenario once conflict is over. “You must be in a state of readiness — be agile; do not lose momentum,” Chandrasekaran is understood to have told the top executives.
MUMBAI: Staging a spirited recovery, stock markets pared early losses to close higher on Thursday, sensex rising by 185 points and Nifty settling above 22,700 on strong value buying in IT and banking shares and a sharp rebound in the rupee.Rebounding more than 2,000 points from the day’s low, sensex finally settled higher by 185 points, or 0.3%, at 73,320. The index opened lower and tanked further by 1,588 points to hit a day’s low of 71,546 in the first half of the session. Strong value buying in IT bellwethers like HCL Tech and TCS, and banking giants HDFC Bank and ICICI Bank, helped the barometer recover from sharp losses, hitting a high of 73,569 in the pre-close session.On the NSE, the Nifty followed a similar trajectory and closed above 22,700 at 22,713, up by 34 points, or 0.2%. The index fell 497 points, or 2.2%, in early trade before recovering to hit a high of 22,782.A sharp rebound in the rupee after RBI stepped in with a slew of measures to restrict banks from onshore forward markets also helped improve investor sentiment.A total of 2,649 stocks advanced, while 1,589 declined and 149 remain unchanged on the BSE.“Indian equity markets opened on the back foot as Trump’s renewed threat to strike Iran ‘extremely hard’ swiftly erased the optimism built in the prior session, triggering broad-based selling across Asian markets,” said Vinod Nair, Head of Research, Geojit Investments.Crude oil spiked more than 7% after Trump’s speech, with Brent trading at %109 per barrel.
MUMBAI: The rupee recorded its strongest recovery in 13 years, rising 173 paise to close at 93.1 from Tuesday’s 94.83, after RBI tightened rules to curb speculative bets and forced a sharp unwinding of dollar positions.However, with a fresh round of US bombing in Iran post market hours, which resulted in global oil prices surging further, dealers are wary of a fresh wave of volatility when forex markets open next week.Thursday’s rebound followed a series of regulatory steps aimed at squeezing short positions and arbitrage trades. The central bank barred offshore non-deliverable forwards, restricted rebooking of cancelled foreign exchange contracts, and capped banks’ forex positions at $100 million, triggering heavy dollar sales in the domestic market.The measures lifted the currency while widening the gap between onshore and offshore markets, and pushed up hedging costs. RBI had taken similar measures in 2013 to stabilise the currency after a sharp fall.The rupee had been under pressure from a surge in oil prices driven by the West Asia conflict and global risk aversion, which widened the current account gap. The currency fell over 4% since Feb 28 before its recovery, and around 10% in FY26, making it among the weakest in the region.Rupee had breached the 95 level earlier in the week and closed at 94.70 before hitting a low of 94.84. Markets are closed on April 3 on account of a public holiday for Good Friday.Dealers said that the no deliverable forward market, which functions with both parties placing bets in foreign currency on rupee’s movement direction, has emerged to be larger than the spot market. With many players betting on the rupee weakening in the offshore markets, banks have been able to arbitrage by buying dollars in the onshore market and selling them offshore. These trades have added to the pressure on the rupee.RBI curbs have reduced market liquidity, widened bid ask spreads, and fragmented trading across segments. A fallout of the curbs would be reduced interest in Indian bonds as the cost of hedging them have gone up.
Closes 173p Up At 93.1 After RBI Reins In Speculation, $ Positions
Dealers said that the rupee will continue to receive support with banks unwinding open positions on dollar ahead of the Apr 10 deadline, with the currency seen trading in a range of around 92.20 to 93.20.
