New details and statistics continue to emerge, pointing to the shrinking geopolitical clout of major Arab oil producers. The countries in the Organisation of Petroleum Exporting Countries (Opec) and its allies in the Opec+ are no longer the sole arbiters of the supply side of the global energy dynamics. Markets are no longer in their absolute control. And this carries major geopolitical consequenc
Ever since the pandemic gripped the world and disrupted everything, Pakistan’s payments industry has seen a rapid shift towards digitisation, led by exponential growth in mobile banking. In fact, 80 per cent of all banking transactions (excluding branchless banking) are digital already, while only 20pc remain over-the-counter and continue to become a smaller part of the pie. On top of it, the n
China seems to have successfully spurred a ‘modest’ post-pandemic economic recovery amid a myriad of problems, ranging from slump in the real estate sector, stagnant domestic demand, mounting local government debt, deflation, oversupply in some sectors (due to lower exports), soaring youth unemployment and dwindling foreign investment. That China has defied predictions of economic gloom is good
As a global concept, Islamic banking has established itself on a sound and solid footing. Almost every country with a substantial financial base offers Islamic banking operations parallel to conventional financing. However, the situation in Pakistan is rather complex. Pakistan’s constitutional structure makes it compulsory for the state to shift from conventional banking to Islamic banking afte
Despite higher energy and interest rate costs and even amidst stagnant industrial output, Pakistan’s merchandise exports are growing — thanks to strong overseas demand, reduced bureaucratic impediments to export growth and a shift in export earnings from textiles to agricultural products and food. On the other hand, merchandise imports continue to fall despite the recent decline in the US dolla