Despite the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development energy watchdog, continuing to emphasise, and in no uncertain terms, that the era of oil demand growth is coming to an end, what is making Prince Abdulaziz bin Salman, the Saudi petroleum minister, so ebullient and convinced that the global crude demand will continue to grow in the decades to
The highly anticipated summit between President Xi Jinping and President Joe Biden adjacent to the Asia-Pacific Economic Cooperation (APEC) forum in San Francisco last week was focused on repairing their fraught bilateral ties but is largely expected to have “significant global consequences”. The meeting came at the lowest point in their 50-year-old relations and is, therefore, being seen as a bre
The International Monetary Fund (IMF) has advised Pakistan to revive its five-year development planning, get climate-sensitive public investment management plans working and publish criteria for project appraisals for transparency to attract global climate financing. The IMF’s guidance comes immediately after the two sides reached a staff-level agreement on the first review of a $3 billion bail
The KSE-100 Index surged beyond the 57,000-point level, concluding the trading session at a new record high on Thursday. Topline Securities Ltd said the upward trend was a result of the successful staff-level agreement reached between the International Monetary Fund (IMF) and Pakistani authorities under a $3 billion Stand-By Arrangement. Furthermore, the auction of treasury bills held a da
An assurance from the International Monetary Fund about the success of talks with Islamabad helped tilt the exchange rate in favour of the rupee on Thursday. The dollar depreciated after 17 consecutive appreciations in the inter-bank market. The IMF, however, expressed reservations by saying that the rupee must remain market-determined to alleviate external pressures and rebuild reserves. Th