Struggling with current account challenges and foreign exchange reserves, the PTI government borrowed more than $12 billion from abroad in the first seven months of the current fiscal year (7MFY22), almost 81 per cent higher than foreign loans it secured in comparable period last year. The monthly report of the Ministry of Economic Affairs (MEA) on foreign inflows showed that the government cro
Pakistan Stock Exchange extended losses on Tuesday, as jittery investors took cue from the global equities’ sell-off amid rising geopolitical tensions that lifted international crude oil prices. The benchmark KSE-100 index, in the absence of any positive triggers, stayed in the red zone throughout the session. Index heavyweight sectors, mainly technology and cement, remained under pressure a
Oil rose to its highest since 2014 on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, tempered by a declaration from Germany’s Chancellor that the nation would not certify the $11 billion Nord Stream 2 pipeline. Germany put the certification of the Nord Stream 2 gas pipeline from Russia on ice while the United States and European Union discussed potential sanc
Albania wants to enhance trade relations with Pakistan and there are immense opportunities for increasing the volume of trade between the two countries, which should be exploited for mutual benefit, said Non-resident Ambassador-designate of Albania Kastriot Robo. Exchanging views with business community during his visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday, the en
Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood on Tuesday said that the Preferential Trade Agreement (PTA) to increase bilateral trade between Pakistan and Uzbekistan is expected to be finalised on March 4. The signing of the agreement will take place during Uzbekistan President Shavkat Mirziyoyev visit to Pakistan on March 3 to facilitate bilateral and transit trad