KARACHI: Pakistan’s current account surplus narrowed sharply in May 2026 as rising imports offset gains from remittances and services exports, signalling that external account pressures are beginning to re-emerge amid an economic recovery. According to data released by the State Bank of Pakistan (SBP), the country recorded a current account surplus of $255 million in…
A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila. Photo: Reuters/ File The Asian Development Bank (ADB) on Thursday approved a $700 million policy-based loan to support reforms aimed at strengthening insurance in Pakistan. The program seeks to expand insurance coverage and reduce protection gaps. It will also help stimulate private…
Memorandum also carries signatures of US President Donald Trump, Iranian President Masoud Pezeshkian Prime Minister Shehbaz Sharif signs the ‘Islamabad Memorandum of Understanding’ (MoU) as a mediator. PHOTO: PMO Prime Minister Shehbaz Sharif on Thursday signed the ‘Islamabad Memorandum of Understanding’ as a mediator, formalising a major diplomatic breakthrough between the United States of America…
KARACHI: Pakistan Stock Exchange (PSX) ended Wednesday’s session on a subdued note, with the benchmark KSE-100 index posting a marginal gain as investors paused for breath after the market’s recent record-breaking rally. The index settled at 180,511.02, up 118.05 points, or 0.07%, from the previous close. Trading remained choppy throughout the day as participants weighed…
Trump administration took a 10% stake in Intel, announced plans to invest roughly $10b to build US factories Intel and Apple logos are seen in this illustration taken September 24, 2025. PHOTO: REUTERS US President Donald Trump said in a Truth Social post on Thursday that Apple has agreed to work with Intel to design and manufacture…
Plans to develop charging infrastructure and train Pakistani engineers and technicians Finance minister meets BYD leadership. Photo:X Finance Minister Muhammad Aurangzeb on Thursday met a delegation from BYD Group and Mega Motor Company (MMC) and reaffirmed the government’s support for electric vehicle manufacturing and localisation in the country, the finance ministry wrote on X. The…
Oil prices fell by more than $2 per barrel on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive US sanctions on Tehran’s oil, boosting the oil supply outlook. Brent crude futures were down $2.14, or 2.69%, at $77.41 a barrel as of 0616…
Published versions largely converge on ceasefire, sanctions relief, Hormuz, nuclear talks The US and Iranian versions of a memorandum of understanding (MOU) aimed at ending months of war in the Middle East reveal broad convergence on the deal’s core provisions, despite differences in political emphasis, legal detail, and the way each side frames sensitive issues…
Reaffirms their commitment to expanding cooperation across areas of mutual interest Canada praised Pakistan’s “constructive role” in supporting diplomatic engagement and mediation efforts between the United States (US) and Iran that helped facilitate the recent understanding reached between the two countries, according to a statement issued by the Foreign Office (FO) on Thursday. The statement…
Faceless system to be launched in Oct to create blind between taxpayers and taxmen ISLAMABAD: The Federal Board of Revenue (FBR) chairman said on Wednesday that a new faceless tax system would be launched in October to protect people from harassment by taxmen, admitting that any new information being sent to fields for collecting taxes…