The outflow of profit and dividends on foreign investments surged 114 per cent during the first half of the current fiscal year. The profit repatriation was primarily restricted in FY24 to contain the country’s fast-depleting foreign exchange reserves. Foreign investors widely criticised the government policy, and the International Monetary Fund (IMF), among other harsh conditions, asked Pakist
China said on Tuesday it hoped to cooperate with the United States to resolve trade issues, as President Donald Trump began his second term after threatening to impose biting tariffs on the Asian giant. Beijing is “willing to strengthen dialogue and communication with the United States, properly manage differences and expand mutually beneficial cooperation,” foreign ministry spokesman Guo Jiaku
China said on Tuesday it hoped to cooperate with the United States to resolve trade issues, as President Donald Trump began his second term after threatening to impose biting tariffs on the Asian giant. Beijing is “willing to strengthen dialogue and communication with the United States, properly manage differences and expand mutually beneficial cooperation,” foreign ministry spokesman Guo Jiaku
Saudi Arabian mining fund Manara Minerals is set to buy a 10-20 per cent in the Reko Diq copper and gold project in Pakistan for proceeds of about $500 million to $1 billion, the Financial Times reported on Tuesday. Manara Minerals would buy the equity stake from the government of Pakistan, which owns 25pc of the mine, in the project, which is being co-developed by Canada’s Barrick Gold, the FT
Finance Minister Muhammad Aurangzeb told Reuters on Tuesday that the government has agreed terms for a $1 billion loan with two Middle Eastern banks at a six to seven per cent interest rate as Pakistan looks for more financing. “With two institutions we have now gone forward in signing up the term sheet — one bilateral and one for trade (finance),” Aurangzeb said during an interview on the side