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5 days ago | 
arab.news | Miguel Hadchity |Nadin Hassan |Mohammed Al-Kinani |Ismail Dilawar
KARACHI: Prime Minister Shehbaz Sharif on Friday lauded the contribution of overseas Pakistanis as workers’ remittances surged to a record $31.2 billion during the first ten months of the current fiscal year, with Saudi Arabia emerging as the top source of inflows. According to data released by the State Bank of Pakistan (SBP), remittances rose by 30.9 percent during July-April FY25 compared to $23.9 billion received in the same period last year.
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2 weeks ago | 
arab.news | Nadin Hassan |Haifa Alshammari |Nour El-Shaeri |Ismail Dilawar
KARACHI: The International Monetary Fund’s (IMF) Executive Board will meet on May 9 to review its staff-level agreement with Pakistan for an ongoing $7bn bailout program and a new climate resilience loan scheme with Islamabad, the global lender said on its website recently.
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2 weeks ago | 
arab.news | Haifa Alshammari |Nour El-Shaeri |Nadin Hassan |Mohammed Al-Kinani
ISLAMABAD: Pakistan’s average inflation is expected to remain in the 5.5-7.5% range in the fiscal year ending June 2025, the country’s central bank said in its half-yearly economic report this week, stating that its real GDP growth is expected to hover between 2.5-3.5%. Pakistan’s economy has improved in recent months, supported by declining inflation, which caused the central bank to reduce its policy rate to 12% after a series of cuts totaling 1,000 basis points since June 2024.
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2 weeks ago | 
arab.news | Nadin Hassan |Nour El-Shaeri |Ismail Dilawar |Naimat Khan
KARACHI: World Liberty Financial (WLF), a decentralized finance platform backed by US President Donald Trump, signed a letter of intent with Pakistan’s Crypto Council on Saturday to advance blockchain innovation, stablecoin adoption and decentralized finance (DeFi) integration across the South Asian country. The agreement, signed in Islamabad, comes as Pakistan looks to formalize its crypto economy amid rising interest in blockchain technologies.
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2 weeks ago | 
arab.news | Nadin Hassan |Nour El-Shaeri |Nirmal Narayanan |Ismail Dilawar
WASHINGTON: Pakistan has put in a request to China to augment its existing swap line by 10 billion yuan ($1.4 billion), Finance Minister Muhammad Aurangzeb said, adding he expected the country would launch a Panda bond before year-end. Pakistan has an existing 30 billion yuan swap line already, Aurangzeb told Reuters in an interview on the sidelines of the International Monetary Fund and World Bank Group spring meetings in Washington.
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2 weeks ago | 
arab.news | Nadin Hassan |Nour El-Shaeri |Nirmal Narayanan |Ismail Dilawar
KARACHI: Pakistan’s foreign exchange reserves have more than tripled since early 2023, driven by a surplus in the external current account rather than fresh borrowing, the top central bank official said, according to a statement on Saturday, as the country targets $14 billion in reserves by June. Pakistan’s forex reserves had touched critically low levels two years ago, giving it an import cover of less than a month.
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2 weeks ago | 
arab.news | Nadin Hassan |Mohammed Al-Kinani |Reem Walid |Nour El-Shaeri
KARACHI: Pakistan’s stocks and dollar-denominated bonds plunged in value on Thursday, which financial experts attributed to investor concerns over surging tensions between Islamabad and New Delhi. Pakistan’s stocks shed two percent of their index value when the market closed on Thursday, as per data from the Pakistan Stock Exchange (PSX). The benchmark KSE-100 Index plummeted to 114,661 points but managed to recover some ground before closing at 115,019.81 points.
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2 weeks ago | 
arab.news | Nour El-Shaeri |Nadin Hassan
Bahrain foreign and local currency sovereign credit rating at ‘B+/B’: S&P /node/2598266/business-economy April 24, 2025 12:40 Bahrain foreign and local currency sovereign credit rating at ‘B+/B’: S&P RIYADH: Continued fiscal reform efforts, stable economic diversification, and financial support from Gulf Cooperation Council partners have led S&P Global Ratings to affirm Bahrain’s long- and short-term foreign and local currency sovereign credit ratings at “B+/B.” The American agency also...
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3 weeks ago | 
arab.news | Nirmal Narayanan |Nour El-Shaeri |Nadin Hassan |Mohammed Al-Kinani
Saudi Arabia raises $990m through April sukuk issuance /node/2598025/business-economy April 22, 2025 18:39 Saudi Arabia raises $990m through April sukuk issuance RIYADH: Saudi Arabia’s National Debt Management Center raised SR3.71 billion ($990 million) through its riyal-denominated sukuk issuance for April, reflecting a 40.5 percent increase compared to the previous month, according to an official statement.
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1 month ago | 
arab.news | Nour El-Shaeri |Nadin Hassan |Reem Walid
Saudi Arabia eyes $31.6bn space economy as sector gains momentum /node/2596872/business-economy April 13, 2025 18:00 Saudi Arabia eyes $31.6bn space economy as sector gains momentum RIYADH: Saudi Arabia’s space economy reached $8.7 billion in 2024 and is expected to grow to $31.6 billion by 2035, according to a new study.
