IMF and Pakistan reach $3 billion stand-by deal

• The economy has been stricken by a balance-of-payments crisis, while months of political chaos have scared off potential foreign investment
• Inflation has rocketed, the rupee has reached a record low against the dollar, and the country can no longer afford imports

US to sell $440m in ammunition, parts to Taiwan

Gift purchases for MENA men to increase by 25% in 2023: study

• The rise in sales has been attributed to several factors such as the long-standing tradition of gift-giving as part of the celebrations, thereby driving the demand for gifts
• The introduction of new product categories specifically tailored to male recipients, including confectionery, live plants, perfume, and coffee also played a role

London Climate Action week: COP28 President-Designate urges investors to fund climate technology

• Dr Sultan Al Jaber also visited Octopus Energy and its founding CEO, Greg Jackson, in their London headquarters
• They discussed the latest technologies that support the rollout of renewable energy and storage solutions

UAE Head of Cyber Security leads delegation to conference in Israel

• The UAE delegation met with the stakeholders in the Israeli cyber ecosystem including investors and top experts.
• The visit provided valuable insights into the latest global trends in cybersecurity and allowed the participants to explore potential collaborations.

Gulf oil states on a charm offensive across South Pacific

• Saudi Arabia and the United Arab Emirates - two of the world's biggest crude oil producers - have been ramping up efforts to shed their reputations as global climate laggards
• Both have been lavishing money and attention on small, isolated and often indebted Pacific nations, where rising sea levels are already creeping up on low-lying coastal communities

Turkey to hold NATO talks with Sweden next Thursday

• NATO counterparts have been pushing Turkey to grant the green light to Sweden by the time a summit is held in Lithuania on July 11-12
• Sweden and Finland last year reversed decades of hesitation and formally applied to join NATO after Russia invaded Ukraine

World Bank approves $1bn for Turkiye’s earthquake reconstruction

• The bank highlighted that the financing will contribute to the restoration of healthcare services and the reconstruction of damaged or destroyed municipal infrastructure
• The project aims to cover 11 provinces, which have been most severely impacted by the earthquake and where approximately 14 million people reside

Kuwait, France discuss bilateral ties, cooperation on regional, global issues

• Kuwaiti foreign minister Sheikh Salem emphasized the close ties between the two nations, and the high level of cooperation they have achieved across various fields
• The discussions also covered a wide range of topics, including the historical links between the two countries and strategies for strengthening their ties

Saudi Gamers8 with a $45m prize pool brings Razer back as gaming gear partner

• Razer will provide premium hardware from their range of gaming peripherals for VIPs and influencers during the esports festival
• Gamers8 has a prize pool of $45 million and the festival concludes with the Next World Forum, a gaming and esports forum