ISLAMABAD: Pakistan will send a high-level delegation to the United States to discuss new sweeping tariffs imposed by President Donald Trump, the prime minister’s office said on Wednesday.
Trump said last week he would impose a 10% baseline tariff on all imports to the US and higher duties on dozens of other countries, including some of Washington’s biggest trading partners, rattling global markets and bewildering US allies. The Trump administration imposed a 29% tariff on Pakistan, which charges 58% tariff on goods imported from the US.
According to a Pakistan ministry of commerce report widely cited by Pakistani media this week, the country is expected to incur a loss of approximately $1 billion following the imposition of the new tariff on Pakistani goods.
“The delegation was tasked by the Prime Minister to work out a mutually beneficial course of action for the future after the negotiations on the new tariffs imposed on imports by the US,” PM Shehbaz Sharif’s office said in a statement, adding that leading business figures and exporters would be part of the delegation.
The decision came after a review meeting chaired by Sharif on increasing domestic exports and the new tariffs imposed on imports by the US.
“Various alternative courses of action [to the new tariffs] were presented to the meeting,” the PM’s office said.
On Monday, US Secretary of State Marco Rubio spoke via telephone to Pakistani Foreign Minister Ishaq Dar and “discussed US reciprocal tariffs on Pakistan and how to make progress toward a fair and balanced trade relationship,” the State Department said in a statement.
The US goods trade deficit with Pakistan was $3 billion in 2024, a 5.2% increase over 2023, according to the Office of the US Trade Representative.
Pakistan to send delegation to US for talks on new tariffs
https://arab.news/w6unp
Pakistan to send delegation to US for talks on new tariffs
- US has imposed 29% tariff on Pakistan, which charges 58% tariff on goods imported from US
- Commerce ministry report says new tariff is expected to incur a loss of approximately $1 billion on Pakistan
Saudi Aramco profit rises to $26bn in Q1 amid strategic growth push
RIYADH: Energy giant Saudi Aramco reported a stronger-than-expected first-quarter net profit of SR94.54 billion ($26 billion), highlighting resilience amid weaker oil prices and reinforcing its focus on efficiency and diversified strategic growth.
The net income marked a 16.42 percent increase in the first three months of 2025 from $22.34 billion in the previous quarter, although it was down from $27.27 billion a year earlier. The company’s overall revenue in the first quarter stood at SR405.65 billion, marking a 3.23 percent quarter-on-quarter increase.
The oil giant cited disciplined capital spending, robust operations, and continued downstream expansion as key drivers of its performance.
In a statement, Amin H. Nasser, CEO of Saudi Aramco, said: “Global trade dynamics affected energy markets in the first quarter of 2025, with economic uncertainty impacting oil prices.”
He added: “In this context, Aramco’s robust financial performance once again demonstrated the company’s unique scale, its reliability and flexibility, the value of its low-cost operations, and its emphasis on efficiency and advanced technology.”
The company’s operating cash flow reached $31.7 billion, down from $33.6 billion in the first quarter of 2024, while free cash flow stood at $19.2 billion.
Aramco’s capital expenditures rose to $12.5 billion as the company continued to invest in long-term strategic projects, including lower-carbon initiatives.
Nasser said Aramco will continue working to meet global energy demand by advancing growth across its upstream, downstream and new energy segments, while also focusing on reducing emissions.
“Our ambition is reflected in milestones already announced in 2025, including progress toward our gas production growth target, our global retail expansion, the advancement of our petrochemicals strategy, headway in blue hydrogen business development, and further innovation in carbon capture,” he added.
Aramco’s board declared a base dividend of $21.1 billion for the first quarter, up 4.2 percent from the same period a year earlier. It also announced a performance-linked dividend of $219 million, to be paid in the second quarter.
“In volatile times, Aramco’s resilience underpins both our financial performance and our sustainable and progressive base dividend,” added Nasser.
Aramco also highlighted progress on several fronts in line with its long-term diversification strategy. The company finalized the acquisition of a 50 percent stake in Blue Hydrogen Industrial Gases Co. and signed definitive agreements to acquire a 25 percent interest in Unioil Petroleum Philippines, strengthening its position in blue hydrogen and downstream retail, respectively.
In addition, Aramco launched a pilot facility for direct air capture of CO2, a move aimed at scaling up its carbon capture technology and supporting the Kingdom’s emissions-reduction goals.
UAE exempts Sudanese nationals from residency, visa fines
- The authority clarified that this decision takes effect on May 19, 2025
DUBAI: The UAE on Saturday decided to exempt Sudanese nationals from paying outstanding residency or visa fines, according to WAM News Agency.
The Federal Authority for Identity, Citizenship, Customs & Port Security said in a statement: “The decision aligns with the UAE's long-standing commitment to supporting brotherly nations and offering humanitarian aid during crises.”
It further underscores the country's role in promoting humanity and peace, it added.
The authority clarified that this decision takes effect on May 19, 2025, and will remain valid until the end of the current year.
Sudanese nationals with outstanding fines can regularize their status and submit renewal applications via the ICP's official digital platforms. The incurring fines will be wavered.
Putin’s proposed Ukraine talks ‘not enough’: Macron
PRZEMYSL: President Vladimir Putin’s proposal for direct negotiations between Russia and Ukraine, after Kyiv and its European allies called for a 30-day ceasefire, is “not enough,” French President Emmanuel Macron said on Sunday.
“An unconditional ceasefire is not preceded by negotiations, by definition,” Macron told reporters as he stepped off a train in the Polish city of Przemysl on his return from a trip to Ukraine, adding that Putin was “looking for a way out, but he still wants to buy time.”
Western allies have repeatedly accused Putin of delaying tactics with regards to any potential bid to end the conflict in Ukraine, which has dragged on since February 2022.
Asked if this was another such example, Macron replied: “Yes, it is.”
Macron visited Kyiv on Saturday with the leaders of Germany, Britain and Poland, with the four of them and President Volodymyr Zelensky calling for a 30-day unconditional ceasefire starting on Monday.
Macron warned that Russia would face “massive sanctions” if it did not comply.
The United States and other countries back the proposal, the leaders said.
Speaking at the Kremlin in the early hours of Sunday, Putin proposed direct negotiations with Ukraine in Istanbul in the coming days but did not address the 30-day ceasefire proposal.
“It’s a way of not answering... of showing that he is committed while also trying to maintain ambiguity in the eyes of the Americans,” Macron said.
“We need to stand firm with the Americans and say that the ceasefire is unconditional and then we can discuss the rest,” he added.
Macron also said that Putin’s proposal was “unacceptable for the Ukrainians because they cannot accept parallel discussions while they continue to be bombed.”
He also cast doubt on whether Zelensky would agree to talks in Istanbul given the “complicated” Russian-Ukrainian negotiations held there shortly after Russia’s invasion of Ukraine in 2022.
Israeli strikes on Gaza kill 10 people, mostly women and children
- Two of the strikes hit tents in the southern city of Khan Younis, each killing two children and their parents
- Israel has sealed Gaza off from all imports, including food, medicine and emergency shelter, for over 10 weeks
DEIR AL-BALAH, Gaza Strip: Israeli strikes overnight and into Sunday killed 10 people in the Gaza Strip, mostly women and children, according to local health officials.
Two of the strikes hit tents in the southern city of Khan Younis, each killing two children and their parents. Other strikes killed a child and a man riding a bicycle, according to Nasser Hospital, which received the bodies from all the strikes.
Israel has sealed Gaza off from all imports, including food, medicine and emergency shelter, for over 10 weeks in what it says is a pressure tactic aimed at forcing Hamas to release hostages. Israel resumed its offensive in March, shattering a ceasefire that had facilitated the release of more than 30 hostages.
Aid groups say food supplies are running low and hunger is widespread.
The Israeli military says it only targets militants and tries to avoid harming civilians. It blames Hamas for civilian deaths in the 19-month-old war because the militants are embedded in densely populated areas. There was no immediate Israeli comment on the latest strikes.
US President Donald Trump, whose administration has voiced full support for Israel’s actions, is set to visit Saudi Arabia, Qatar and the United Arab Emirates this week in a regional tour that will not include Israel.
The war began when Hamas-led militants attacked southern Israel on Oct. 7, 2023, killing some 1,200 people, mostly civilians, and taking 251 hostage. Fifty-nine hostages are still inside Gaza, around a third of them believed to be alive, after most of the rest were released in ceasefire agreements or other deals.
Israel’s offensive has killed over 52,000 Palestinians, mostly women and children, according to Gaza’s Health Ministry, which does not say how many of the dead were combatants or civilians. The offensive has destroyed vast areas of the territory and displaced some 90 percent of its population of around 2 million.
IPL chiefs in talks about restart following India-Pakistan ceasefire— reports
- Indian Premier League was suspended for a week on Friday after tensions spiked between India, Pakistan
- There are 12 regular season games remaining to be played followed by three playoff matches and the final
NEW DELHI: India cricket board officials were reported to be meeting Sunday to discuss a quick resumption of the IPL, following India and Pakistan agreeing a ceasefire in their deadly border conflict.
Nuclear-armed neighbors India and Pakistan called a halt to hostilities on Saturday and Board of Control for Cricket in India (BCCI) secretary Devajit Saikia told website cricbuzz they were “closely monitoring the evolving situation.”
Saikia added they will “take a call on IPL resumption after consulting all stakeholders of IPL and the concerned government authorities.”
Rajeev Shukla, vice president of the BCCI, told Indian media that officials would meet on Sunday to decide the future course of action.
The Indian Premier League was on Friday suspended for a week, a day after a match between Punjab Kings and Delhi Capital was abandoned in Dharamsala, less than 200 kilometers (125 miles) from the northern city of Jammu, where explosions were reported hours earlier.
A special train was arranged for players to return to Delhi on Friday as airspace was closed, while overseas stars began to head home on Saturday.
Teams on Sunday were reported to be contacting their overseas players and coaching staff about returning, with website ESPNcricinfo saying the IPL could restart around May 15 if given the go-ahead by the government.
There are 12 regular season games remaining to be played followed by three playoff matches and the final, originally scheduled for May 25.
India and Pakistan have fought two of their three full-scale wars over Kashmir, a disputed territory that both claim in full but administer separate portions of since gaining independence from British rule in 1947.
New Delhi launched missile strikes on Wednesday morning in retaliation for a deadly attack on tourists in Indian-run Kashmir two weeks ago that India blames on Pakistan.
Islamabad has denied any involvement.
At least 60 people have been killed on both sides of the border since Wednesday, in the worst violence in decades between the South Asian neighbors.
