Pakistan ‘secures’ $2 billion loan rollover from China

Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. — PPI ISLAMABAD: In a major boost to the country’s foreign exchange reserves, China has rolled over $2 billion to Pakistan, Ministry of Finance sources told Geo News on Wednesday. Pakistan has borrowed $2 billion from China […]

Jeff Bezos only needs $8 billion to overtake Elon Musk as world’s richest person

Elon Musk and Jeff Bezos gesture during separate gatherings. — AFP/File Jeff Bezos is just $8 billion away from surpassing Elon Musk as the richest person in the world with a rise in Amazon stock this year and a decline in Tesla shares. According to the Bloomberg Billionaires Index, the founder and executive chairman of […]

Govt plans Rs100 billion Sukuk boost at PSX | The Express Tribune

KARACHI: The government is set to hold the second auction of Sukuks at the Pakistan Stock Exchange (PSX) on Tuesday, aiming to raise new domestic debt worth Rs100 billion after securing financing at a comparatively low price in the first auction held last month at the bourse. The government has decided to gradually increase the […]

RELIEF: Joe Biden writes off $5 billion in student loans owed by 74,000 borrowers

Joe Biden speaks during a campaign on October 9, 2019. — AFP President Joe Biden on Friday wiped out $4.9 billion in debt for 74,000 student borrowers — a strategic move aimed at propelling young and minority voters for his reelection. The Public Service Loan Forgiveness programme and income-driven repayment options for long-term borrowers are […]

Pakistan, Iran ready to boost trade to $5 billion: envoy

Pakistan’s Ambassador to Iran Mudassir Tipu speaking at an event welcoming Pakistani naval ships at the Iranian port of Bandar Abbas on January 14, 2024. — X/@MuhammadMu85183 With the country’s economy stuck in a downward spiral, Pakistan’s ambassador to Iran Mudassir Tipu said that the two countries are ready to increase their bilateral trade to […]

Remittances increase to $2.38 billion in December 2023 | The Express Tribune

KARACHI: The inflow of workers’ remittances sent by overseas Pakistanis increased by 13% to $2.38 billion in December 2023 as funds were dispatched through official channels following the return of stability in the rupee-dollar parity and the crackdown against illegal currency networks.  The improvement in the remittances is expected to fuel the ongoing gradual rally in the rupee […]

China’s emissions to surpass 4 billion MT | The Express Tribune

COLORADO: China’s power sector emissions of carbon dioxide (CO2) and equivalent gases will surpass 4 billion metric tonnes for the first time in a calendar year in 2023, as the country cranks up coal-fired electricity output to new highs. China’s total emissions from fossil fuel-powered electricity generation hit 3.99 billion tonnes through October, marking a […]

Energy imports drop 13% to $1.42 billion in Nov | The Express Tribune

KARACHI: Pakistan experienced a 13% decline in overall energy imports, reaching $1.42 billion in November 2023, shedding light on subdued demand for petroleum, oil, and gas products. Economic activities remained lacklustre due to sluggish growth, and the recent surge in product prices has hampered purchasing power across various sectors. The diminishing demand for products, particularly […]

Aon to purchase NFP for $13.4 billion

An image of the outside of Aon office. — Aon An agreement has been reached for Aon plc to purchase NFP, a middle-market advisor for retirement plans, wealth manager, benefits consultant, and property and casualty broker. A total of $7 billion in cash and $6.4 billion in Aon shares would be used in the deal, […]

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