Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom wants to put $600 billion into expanded investment and trade with the United States over the next four years, the Saudi State news agency said early on Thursday. In a phone call between the two leaders, the crown prince said the Trump administration’s expected reforms could create “unprecedented economic
Prime Minister Shehbaz Sharif on Thursday hailed the $20 billion Country Partnership Framework (CPF) as a landmark initiative, even as a World Bank official acknowledged they were ‘taking a risk’ by offering Pakistan the unusual decade-long partnership. Addressing the launch ceremony of the decade-long CPF, the prime minister described it as a transformative partnership marking the longest d
The foreign exchange reserves of the State Bank of Pakistan (SBP) declined $276 million to $11.448 billion during the week ended on Jan 17 due to external debt repayments, reported the central bank on Thursday. Finance Minister Mohammad Aurangzeb said in Davos that Pakistan had agreed terms for a $1bn loan with two Middle Eastern banks at 6 to 7pc interest rate. The country is in a problema
Pakistan State Oil Managing Director Syed Muhammad Taha has said that empowering the board of management with regulatory powers is critical to ensuring the company’s sustainability and enabling it to compete effectively in an increasingly challenging market. During a meeting of the Senate Standing Committee on Petroleum held at the PSO headquarters on Thursday to review the challenges facing th
A high-ranking delegation from the World Bank on Thursday visited National Database and Registration Authority (Nadra) and was briefed over the progress made under the Digital Economy Enhancement Project (Deep), a key initiative designed to strengthen Pakistan’s digital economy and digital ID systems. The World Bank delegation was led by Mr Martin Raiser, Vice President for the