Imran Khan, Pakistan’s cricket star turned PM, jailed for 10 years
By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Former Pakistani Prime Minister Imran Khan’s 10-year jail sentence under the official secrets act is the latest in a series of ups and downs for…
Pakistan’s remittances recorded at $2 billion for August – central bank
(Reuters) – Pakistan’s foreign worker remittances were recorded at $2.09 billion for the month of August, the country’s central bank said in a statement on Monday, up slightly from $2.02 billion in…
Pakistan’s interim PM says Saudi Arabia to invest $25 billion over next five years
By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Saudi Arabia will invest up to $25 billion in Pakistan over the next two to five years in various sectors, Pakistan’s caretaker Prime Minister Anwaar-ul-Haq…
Arrest of Pakistan’s Imran Khan an ‘internal matter’, US says
By Kanishka Singh and Humeyra Pamuk WASHINGTON (Reuters) – The arrest of Imran Khan is Pakistan’s “internal matter”, a U.S. State Department spokesman said on Monday, declining to take a position on…
Explainer-What lies ahead for Pakistan’s Imran Khan convicted over graft
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s former Prime Minister Imran Khan, convicted in a graft case, has been jailed for three years in a fresh setback to the 70-year-old former cricket…
Fitch upgrades Pakistan’s sovereign rating to CCC after IMF deal
By Asif Shahzad ISLAMABAD (Reuters) – Fitch credit rating agency on Monday upgraded Pakistan’s long-term foreign currency issuer default rating to CCC from CCC-, a positive sign for a country reeling under…
Factbox-Why Pakistan’s long-awaited IMF tranche is important
By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistani Prime Minister Shehbaz Sharif said on Tuesday he hoped a bailout decision from the International Monetary Fund would come in a day or two,…
Pakistan’s parliament approves revised budget to clinch IMF deal
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s parliament on Sunday approved the government’s 2023-24 budget which was revised to meet International Monetary Fund conditions in a last ditch effort to secure the…
Pakistan’s cenbank governor says inflation to begin decelerating over next few months
(Reuters) – Pakistan’s central bank governor said on Friday that the country’s inflation is expected to start decelerating over the next few months. “And with the revival of the IMF program, the…
World Bank cuts Pakistan’s GDP f’cast on rising rates, limited fiscal space
NEW DELHI (Reuters) – The World Bank sharply lowered Pakistan’s current year growth forecast, saying the country’s economic growth prospects have weakened due to tighter financial conditions and limited fiscal space. The…
Pakistan’s Honda Atlas extends production shutdown to mid-April
By Ariba Shahid KARACHI, Pakistan (Reuters) – Honda Atlas Cars Pakistan Ltd on Friday announced a 15-day extension to the longest plant shutdown to date, citing the country’s current economic crisis, restrictions…
Pakistan’s Imran Khan: committee to lead party if I’m arrested
By Gibran Naiyyar Peshimam LAHORE, Pakistan (Reuters) – Pakistan’s former Prime Minister Imran Khan has formed a committee to lead his party if he is arrested, he told Reuters hours before an…
Pakistan’s Honda Atlas shuts production to end-March on import difficulties
By Ariba Shahid KARACHI, Pakistan (Reuters) – Honda Atlas Cars Pakistan Ltd has announced the longest plant shutdown to date in the current economic crisis amongst the country’s automakers, which are struggling…
Moody’s slashes Pakistan’s rating amid payment crisis
(Reuters) – Global ratings agency Moody’s cut Pakistan’s sovereign credit rating by two notches to ‘Caa3’ on Tuesday amid international loan negotiations, saying the country’s increasingly fragile liquidity “significantly raises default risks.”…
Factbox-Facts about Pakistan’s late former President Pervez Musharraf
(Reuters) – Here are some facts about the life and career of Pakistan’s former President Pervez Musharraf, who died on Sunday: *Born in Delhi, India, on August 11, 1943, in his family’s…
Pakistan’s finance minister to meet IMF in Geneva, with bailout stalled
By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – An International Monetary Fund (IMF) delegation will meet Pakistan’s finance minister on the sidelines of a conference in Geneva beginning on Jan. 9, a spokesperson…
Pakistan’s top court endorses Barrick Gold’s $10 billion mining investment
By Asif Shahzad ISLAMABAD (Reuters) -Pakistan’s Supreme Court endorsed on Friday a settlement for Barrick Gold to resume mining at the Reko Diq project, one of the world’s largest underdeveloped sites of…
Pakistan’s Oct CPI accelerates to 26.6% y/y on food and fuel costs
KARACHI, Pakistan (Reuters) – Pakistan’s consumer inflation accelerated in October to 26.6% from a year earlier, the statistics bureau said on Tuesday, with prices showing a rise of 4.7% from the previous…
Fitch cuts Pakistan’s sovereign credit rating to ‘CCC+’ from ‘B-‘
(Reuters) -Global ratings agency Fitch cut Pakistan’s sovereign credit rating on Friday by a notch to ‘CCC+’ from ‘B-‘, citing further deterioration in the country’s external liquidity and funding conditions and a…
Explainer-How worried should we be about Pakistan’s economy?
By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Concerns are rising again over the health of Pakistan’s economy as foreign reserves run low, the local currency weakens and inflation stands at decades-high levels…
Pakistan’s bonds slump on report UN DP to recommend debt restructuring
LONDON (Reuters) – Pakistan’s bonds slumped on Friday, leaving many at half of their face value after a Financial Times report that the United Nations Development Programme was set to publish a…
Children, women prone to diseases in Pakistan’s stagnant flood water
By Syed Raza Hassan and Asif Shahzad KARACHI, Pakistan (Reuters) – Children and women are becoming more vulnerable as tens of thousands of people suffer from infectious and water-borne diseases in flood-hit…
Pakistan’s annual inflation rises to 14-year high at 24.9% in July
By Asif Shahzad ISLAMABAD – Pakistan’s annual consumer price inflation reached 24.9% in July, up from 21.3% in June and the highest in 14 years, the statistics bureau said on Monday. Non-food…
Crisis-hit Pakistan’s army chief seeks U.S. help in quick release of IMF funds – sources
By Asif Shahzad and Gibran Naiyyar Peshimam ISLAMABAD – Pakistan’s powerful army chief appealed to Washington to use its leverage to secure the early release of International Monetary Fund money, Pakistani sources…
Pakistan’s new ruling alliance takes control of parliament with new speaker
By Syed Raza Hassan ISLAMABAD, Pakistan – Pakistan’s new ruling alliance took control of the lower house of parliament on Saturday with the election of a new speaker, cementing control of the…
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