Venture capital is starting to trickle back into Pakistan. In the latest round, Mobility startup BusCaro raised $2 million last week, bringing its total funding to $3.5m. The round was led by UAE-based Daman Investments, with participation from US/Saudi Cartography Capital, New York’s Epic Angest, UK’s Wahed Ventures, the Aga Khan Development Network’s Accelerate Prosperity, and a mix of angel
With the spotlight turning away from the unilateral US tariffs and onto the future of TikTok in America, China seems to have dominated the latest round of the ongoing trade talks with Washington. At the conclusion of the Madrid round last week, both China and the US said they had reached a basic framework consensus on resolving the TikTok dispute, alongside commitments to reduce investment barr
After many years, Pakistan will begin the upcoming Rabi season with healthy carryover water storage of more than 13 million acre feet (MAF) in reservoirs, which may partially offset agriculture output losses caused by floods in the outgoing Kharif season. “We expect water situation in Rabi season to be normal after many years”, said an official, adding that any shortage “will be minimal, bearab
Pakistan is expected to meet all seven Quantitative Performance Criteria (QPC) set by the International Monetary Fund (IMF) ahead of the second semi-annual review of the country’s Extended Fund Facility (EFF) programme, according to Topline Securities’ report released on Saturday. The IMF team is scheduled to visit Pakistan on Sept 25 to review the country’s performance under the $7 billion EFF
The Pakistan Sugar Mills Association (PSMA) has raised concerns over the Federal Board of Revenue’s (FBR) decision to halt sugar sales through the portal across the country, calling it contradictory to the continued import of sugar. A spokesperson for PSMA, in a statement on Saturday, warned that such a policy would lead to a severe market crisis, with rising prices due to sugar shortages. The