The Asian Development Bank (ADB) has approved a USD 700 million policy-based loan to support reforms aimed at strengthening Pakistan’s insurance sector. The program seeks to expand insurance coverage and reduce protection gaps. It will also help stimulate private sector participation and support sustainable economic growth. The Insurance Transformation Program will strengthen Pakistan’s financi
The federal government and the provincial government of Punjab have decided to collaborate on industrial development, export-oriented economic growth, industrialisation, promotion of electric vehicles, and strengthening the manufacturing sector in Pakistan. The decision was taken here during a meeting between Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Ak
Minister for Finance Senator Muhammad Aurangzeb has appreciated Chinese multinational manufacturing company BYD’s growing footprint in Pakistan. He was talking to a delegation of BYD Group and Mega Motor Company (MMC) led by BYD Group Vice President Liu Xueliang and MMC CEO Aly Khan in Islamabad Thursday. During the meeting, Aurangzeb reaffirmed the government’s support for electric vehicle
Gold prices fell on Friday and were on track for a third consecutive weekly decline, as a stronger dollar and hawkish signals from the US Federal Reserve weighed on the non-yielding metal. Spot gold was down 0.6% at $4,184.33 per ounce, as of 0211 GMT. The contract was down 0.9% so far this week. US gold futures for August delivery fell 1% to $4,202.10. Markets in mainland China and Hong
Oil prices fell almost 3% on Thursday to their lowest since the first trading day of the Iran war, as a U.S.-Iran interim deal to end the conflict, reopen the Strait of Hormuz and ease sanctions on Tehran boosted the global supply outlook. Brent crude futures were down $1.53, or 1.9%, at $78.02 a barrel at 1326 GMT, while U.S. West Texas Intermediate fell $2.22, or 2.9%, to $74.57 a barrel.