Aramco CEO warns 1 billion barrels lost will slow oil market recovery
Saudi energy giant posts 25% jump in quarterly profit even as Hormuz blockade chokes global oil supplies Aramco’s President and CEO Amin Nasser at the 56th annual World Economic Forum (WEF) meeting in Davos, Switzerland, on January 20, 2026. PHOTO: REUTERS The world has lost about 1 billion barrels of oil over the past two […]
IMF’s Executive Board approves $1.2 billion financing for Pakistan’s reform programme – Business
WASHINGTON: The International Monetary Fund’s (IMF) Executive Board on Friday approved the latest review of Pakistan’s reform programme, paving the way for the release of $1.2 billion in financing under the ongoing arrangements. In Islamabad, Finance Minister Muhammad Aurangzeb also confirmed the approval following the Board meeting in Washington, saying the decision reflects Pakistan’s continued […]
ADB launches $70 billion plan for energy, digital infrastructure in Asia-Pacific
Plan includes $50b for Pan Asia Power Grid initiative and $20b for tech and digital projects A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009. REUTERS The Asian Development Bank (ADB) on Sunday announced a $70 billion programme to expand energy and digital infrastructure across the Asia-Pacific region […]
US bypasses congressional review for military sales of $8.6 billion to Middle East allies – World
United States President Donald Trump’s administration has bypassed congressional review to approve military sales totalling over $8.6 billion to Middle Eastern allies Israel, Qatar, Kuwait and the United Arab Emirates (UAE). The State Department announcements on Friday came as the US and Israel’s war against Iran marked nine weeks since its start and more than […]
US backs $2.4 billion American firm investment offer in Pakistan
In case Pakistan accepts the US offer, it may also help fast-track the installation of these systems President Donald Trump’s administration has backed a $2.4 billion investment offer by an American firm to install advanced security systems at major Pakistani airports to detect criminals and transnational threats. US Chargé d’Affaires to Pakistan Natalie A Baker has recently […]
US to loosen marijuana rules in major shift for $47 billion industry
Measures are likely to lower barriers for research, ease tax burdens and make it easier for firms to secure funding. The United States Department of Justice said on Thursday it would immediately loosen restrictions on some marijuana products and move quickly to reclassify the drug as less dangerous, in one of the biggest changes to US drug policy in […]
IMF loads $7 billion package with 11 new conditions
Govt committed to IMF that parliament will approve fiscal year 2026-27 budget in line with the staff level agreement The government has agreed to the need for a mini-budget if revenues fall short of expectations by end-December 2025, according to the IMF. Photo: file The International Monetary Fund (IMF) loaded the $7 billion bailout package […]
Pakistan repays $2 billion to UAE
Since July 22, numerous unauthorised exchange outlets have been closed after the military intelligence agency summoned currency dealers to address the rising dollar rate in the open market. photo: file ISLAMABAD: Pakistan on Saturday paid back $2 billion debt of the United Arab Emirates after seven years, further lessening its dependency on the Gulf nation […]
Pakistan returns $2 billion more to UAE
Pakistan repaid $2bn UAE debt via Saudi loan, totalling $2.5bn returned to Abu Dhabi this week The finance ministry officials said that Pakistan would pay the remaining $1 billion UAE debt on coming Thursday. PHOTO: PIXABAY ISLAMABAD: Pakistan on Saturday repaid a $2 billion debt to the United Arab Emirates after seven years, further reducing its dependence on […]
PM launches Rs7.5 billion Ramazan relief package – Pakistan
ISLAMABAD: Following an approval by Prime Minister Shehbaz Sharif, a Rs7.5 billion Ramazan package for needy people has been launched, allowing them to acquire essential items at subsidised rates from all 4,775 utility stores across the country. The PM Ramazan package, approved in a meeting chaired by the prime minister, started on Thursday and will […]