Modi, Lee agree to revamp 2010 trade pact, target doubling bilateral transactions SEOUL/ NEW DELHI: India and South Korea said on Monday that they would boost their economic ties by expanding cooperation in energy, critical minerals, shipbuilding, semiconductors and steel as they seek to double their trade to $50 billion by 2030. New Delhi and…
Inflows expected to bolster foreign exchange reserves amid ongoing efforts to maintain macroeconomic stability SFD signs agreement to extend $3b deposit with the SBP. PHOTO: Radio Pakistan The State Bank of Pakistan (SBP) said on Tuesday that the country has received $1 billion from the Ministry of Finance of Saudi Arabia, marking the second tranche…
Market touches an intraday high of 175,298.11, while the low is recorded at 173,405.57 KARACHI: Buying momentum returned to the Pakistan Stock Exchange (PSX) on Tuesday, as investor sentiment improved amid growing optimism over a potential second round of US-Iran talks aimed at resolving the ongoing conflict. Hopes that diplomacy may progress have weighed on…
Crypto scam exploits Hormuz crisis, tricking shipping firms with false promises of safe passage A vessel at the Strait of Hormuz, off the coast of Oman’s Musandam province. PHOTO: REUTERS Fraudulent messages promising safe passage through the Strait of Hormuz in exchange for cryptocurrency have been sent to some shipping companies whose vessels are stranded…
Crude plunged on Friday after Tehran said it would allow ships to transit the Strait of Hormuz A map showing the Strait of Hormuz, also known as Madiq Hurmuz, and 3D printed oil barrels are seen in this illustration taken March 26, 2026. PHOTO: REUTERS HONG KONG: With the end of a two-week ceasefire approaching,…
Naphtha plant faces Chinese financing delays as FPCCI pushes for capital infusion KARACHI: Pakistan cannot transform its export mix to China without targeted investment in value-added production, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President Saquib Fayyaz Magoon has said during a meeting with Consul General Shahzad Ahmed in Shanghai, according…
Officials say initiative expected to attract local, foreign investment and support transition toward digital system The Power Division and the International Finance Corporation (IFC) on Monday signed a Transaction Advisory Services agreement aimed at modernising Pakistan’s electricity distribution system through large-scale smart metering, PTV reported. Under the plan, around 10 million electricity consumers across the…
By helping the world reduce oil prices from the $150-$200 range and saving hundreds of billions in import bills and high interest expense, Pakistan has earned its seat at the table. photo: REUTERS KARACHI: Pakistan’s genuine efforts and role as a global peacemaker are finally being taken seriously. Diplomacy is a two-way street, and Pakistan…
Govt is no longer borrowing to fund infrastructure or improve human capital; it is borrowing to service interest on pr KARACHI: The prevailing narrative suggesting that Pakistan has achieved macroeconomic stability through the current International Monetary Fund (IMF) programme is a dangerous oversimplification. Such a perspective conveniently ignores the systemic erosion of the national industrial…
For years, Pakistan has relied on friendly countries for financing, but recent developments suggest shift in behaviour ISLAMABAD: Pakistan’s economic managers often point to rising foreign exchange reserves as a sign of stabilisation. On paper, the narrative appears reassuring: reserves have recovered from crisis lows, inflation remains within range, and the country continues to meet…