Category: Popular News

ADB president hails Pakistan’s economic reforms

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ISLAMABAD: As the government plans to launch the inaugural Panda Bond by the end of current calendar year, the Asian Development Bank (ADB) on Wednesday pledged its readiness to assist in the launch as well as other innovative financing instruments. The ADB president expressed appreciation for Pakistan’s economic reforms and resilience, commending the progress achieved in stabilizing the economy and advancing structural reforms. A meeting was held on Wednesday between Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, and Masato Kanda, President of the Asian Development Bank (ADB), at…

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Exporters’ travails

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Pakistan Bureau of Statistics (PBS) has revealed a significant rise in exports of 8.44 percent in July 2025 over June 2025 and 16.43 percent over July 2024 in dollar terms. However, trade deficit increased by 29.43 percent in July 2025 against July 2024 and by 10.57 percent over June 2025 — a rise that is attributable to an increase in imports by 23.13 percent in July 2025 as opposed to July 2024 and 9.58 percent against June this year. This indicates that the boom-bust cycle remains in force — a…

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US natural gas extends losses

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NEW YORK: US natural gas futures fell for a third straight session on Tuesday, as mild weather forecasts and ample supplies kept pressure on the market. Front-month gas futures for September delivery on the New York Mercantile Exchange fell 1percent to USD2.80 per million British thermal units at 10:03 a.m. EDT (1403 GMT). The contract fell on Monday to its lowest since November 4, 2024. Analysts said prices remained under pressure with weather trends pointing to limited demand and little fundamental support for a sustained rebound. Financial firm LSEG estimated…

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Pakistan plans to use solar to power Gwadar Port

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Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, on Wednesday said that efforts are underway to implement solar-based solutions for Gwadar Port, a key part of the multi-billion-dollar China-Pakistan Economic Corridor (CPEC) initiative. The federal minister announced the development during a meeting on the port’s operationalisation, attended by Chairman Gwadar Port Authority (GPA), Noorul Haque Baloch, Chairman of Chinese company COPHCL, My Yu Bo, along with Additional Secretary of the Ministry of Maritime Affairs, Umer Zaffer Shaikh, and others, read an official statement. During the meeting, the minister confirmed…

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Experts sceptical of Trump’s claim of ‘massive’ oil reserves in Pakistan: Bloomberg

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Despite renewed interest from major US companies in Pakistan’s energy sector, industry experts have cast doubt on claims of “massive” reserves touted by US President Donald Trump, pointing to decades of limited discoveries, foreign exits, and persistent challenges in exploration, reported Bloomberg on Wednesday. Last month, Trump said that his administration struck a deal with Pakistan in which Washington would work with Islamabad in developing the South Asian nation’s oil reserves. “We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on…

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