Pakistan is considering Eurobonds, loans from other countries and commercial debt to replace a USD3.5 billion facility from the United Arab Emirates (UAE) and manage its foreign reserves, its finance minister said. Muhammad Aurangzeb also told Reuters the shock from the ongoing war in the Middle East meant that Pakistan must consider a strategic petroleum reserve and a faster switch to renewabl
Finance Muhammad Aurangzeb has informed that the Kingdom of Saudi Arabia has committed $3 billion in additional deposits, with disbursement expected in the coming week. He further stated that the existing $5 billion Saudi deposit would no longer remain subject to the earlier annual rollover arrangement and would instead be extended for a longer period. Aurangzeb made the announcement while talk
Massive selling pressure was observed at the Pakistan Stock Exchange (PSX) after the US and Iran failed to reach an agreement during their crucial talks in Islamabad. The benchmark KSE-100 Index shed nearly 5,200 points during the opening hours of trading on Monday. At 10:04am, the benchmark index was hovering at 162,057.43, down by 5,133.94 points or 3.07%. “The market landscape has shifted
Pakistan’s Ambassador to China Khalil Hashmi has pitched expanded Pakistan–China cooperation in digital agriculture, climate-resilient farming and agri-innovation, while inviting Chinese investors to explore opportunities in Pakistan’s agriculture sector. During his visit to China’s Anhui province, the ambassador highlighted that rural development remains central to national prosperity, food se
The safe-haven dollar advanced broadly in early Asian trade on Monday, as peace talks between the US and Iran broke down and the US Navy prepared a blockade of Iranian ports. The euro was down 0.3% at $1.1684, while the British pound fell 0.5% to $1.3398. The risk-sensitive Australian dollar was 0.6% lower at $0.7030, and the New Zealand dollar was off 0.4% at $0.5816. US President Donald