Pakistan’s Ambassador to the People’s Republic of China, Khalil Hashmi on Tuesday emphasised the need for Pakistan to strengthen economic diplomacy, innovation, industrialisation and regional connectivity to fully benefit from growing Pakistan-China cooperation. He was addressing a luncheon hosted for the Karachi business community by the Foreign Affairs Liaison Office, where business leaders,
Despite headwinds from global trade-related uncertainty and domestic floods, Pakistan’s macroeconomic stability strengthened further in H1-FY26, as revealed in the State of Pakistan’s Economy, Half Year Report FY26, released on Tuesday. The central bank report noted that the Middle East War poses significant risks to the macroeconomic outlook amid heightened uncertainty, where supply chain disr
Oil prices settled higher for the third consecutive session on Tuesday as stark differences between the US and Iran over a proposal to end the war in the Middle East raised concerns that supply disruptions upending the global oil market are likely to be prolonged. Brent crude futures gained USD3.56, or 3.42 percent, to settle at USD107.77 a barrel, and US West Texas Intermediate futures closed
The State Bank of Pakistan (SBP) said Wednesday it received about $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). “The amount would be reflected in SBP’s foreign exchange reserves for the week ending on May 15, 2026,” the SBP said. Last week, the IMF Executive Board approved Pakistan’s third
Challenge Fashion, a Chinese apparel manufacturer, plans to significantly expand its operations in Pakistan, with a long-term goal of generating annual exports of $400–500 million. The plans were discussed during a meeting between Federal Commerce Minister Jam Kamal Khan and a Chinese business delegation led by Huwang, Chairman of Challenges Fashion and Karen Chen, CEO of Challenge Apparel, to