Kakar's first task will be to choose a cabinet to run the country as it heads into an election period that could last for months. Parliament was officially dissolved last week, with elections due within 90 days according to the constitution.

"The economies of Iran and Pakistan are inherently complementary. For example, Pakistan can be a supplier of Iran's needs in the agricultural sector, and Iran can cover Pakistan's need for energy. The total bilateral trade between Iran and Pakistan has been going up in recent years and reached more than...

ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion refinery project here.Aramco will inject the initial 30% equity into the project while Pakistan State Oil (PSO), Pak Arab Refinery (Parco), Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum...

The deposit comes a day after Saudi Arabia transferred $2 billion to Islamabad and brings the state's foreign reserves to $7.5 billion -- more than double last week's account balance. The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of...

The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of political chaos have scared off foreign investment. Inflation has rocketed, the rupee has reached a record low against the dollar, and the country is struggling to afford imports, causing a...

A Quran was burnt outside the Swedish capital's main mosque on Wednesday, triggering a diplomatic backlash across the Muslim world. Salwan Momika, 37, who fled from Iraq to Sweden several years ago, stomped on the Muslim holy book and set several pages alight as Muslims around the world began marking...

Pakistan's negotiations with the IMF for the last tranche of a $6.5 billion bailout package agreed in 2019 stalled in November, with the government making last-minute changes to the national budget to meet the deal's requirements. That package expires on Friday, and the new agreement builds on the IMF's efforts...

ABU DHABI, UAE/ KARACHI, PAKISTAN -  AD Ports Group announced on Thursday the signing of a concession agreement with Karachi Port Trust (KPT), the Pakistani federal government agency that oversees the operations of Karachi port.Under the terms of the 50-year concession agreement, a Joint Venture between AD Ports Group, as...

Dubai, UAE - Pakistan has taken steps to finalize a deal with the United Arab Emirates (UAE) for the handover of the Karachi port terminals, potentially marking the first inter-governmental transaction under a law implemented last year to raise emergency funds. The decision was made during a meeting chaired by Finance...

GENEVA, SWITZERLAND - The world's nuclear powers, and China in particular, increased investment in their arsenals for a third consecutive year in 2022 amid swelling geopolitical tensions, two reports showed Monday.The world's nine nuclear-armed states jointly spent $82.9 billion on their arsenals last year, with the United States accounting for more...

Since Russia launched its invasion of Ukraine last year, economic sanctions have seen a significant cut in its oil and gas exports to the EU and US. However Pakistan, in the midst of an economic downturn worsening a long-running energy shortage, in May confirmed it had struck a deal with Moscow...

Five Iranian border guards were killed during clashes with an armed group in the restive southeastern province of Sistan-Baluchistan, state media reported. Earlier, the judiciary's Mizan Online website had quoted local prosecutor Mehdi Shamsabadi as saying that six border guards were killed but later the number was revised down to...

Islamabad, Pakistan -- Since being ousted from office by a vote of no confidence last year, former Pakistan prime minister Imran Khan has vowed he will captain the country a second time.But on Tuesday, the one-time international cricket star was arrested as he appeared at Islamabad High Court to face one...

Muscat, Oman -- Pakistan and Oman have agreed to boost air travel between the two countries' airports, reports said.The agreement came after a series of meetings in the Pakistani capital held by officials from both nations. An Omani delegation, led by Naif Ali Al Abri, Chairman of the Civil Aviation...

Finance Minister Ishaq Dar said the UAE had promised a billion dollars to prop up Pakistan's forex reserves -- which at their current level of $4.04 billion can barely pay for four weeks of imports. China on Friday released $300 million to Pakistan -- the last tranche of a $1.3...

Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand Multipurpose Dam Project, an 800MW hydropower complex that will contribute to Pakistan’s energy security, increase sustainable water supply for agriculture and human consumption and improve resilience to floods.The agreement was...

ISLAMABAD, PAKISTAN - The American Jewish Congress celebrated the arrival of the first shipment of food products from Pakistan to Israel, marking a milestone in bilateral trade between the two nations, media reports said.The transaction reportedly involved Pakistani-Jewish businessman Fishel BenKhald and three Israeli entrepreneurs.Based in Karachi, BenKhald operates a...

Islamabad, Pakistan – The Muslim World League (MWL) launched a program for distributing Ramadan food baskets in Pakistan as part of its humanitarian efforts and to complement the role Saudi relief institutions play around the world. The Muslim World League is an International Islamic NGO based in Makkah that promotes what...

The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan valued at nearly AED 4.8 billion ($1.3 billion) in 2022.

The crossing was closed last Sunday by Afghan authorities, who objected to what they said were new documentation rules restricting people assisting medical patients from entering Pakistan. It was the first time the Torkham boundary had been officially closed since the Taliban returned to power in Afghanistan 18 months ago.

Luxembourg--European Investment Bank (EIB) Global, a branch of European Investment Bank, announced on Monday that it will provide $27 million participation in the $150 million Middle East Venture Fund.This is the largest ever venture capital engagement by the EIB in the Middle East.The new venture capital fund launched by Middle...

During the visit, UAE President and Pakistan's Prime Minister were due to discuss areas of mutual cooperation between the UAE and Pakistan.

Rahim Yar Khan, Pakistan---UAE President Sheikh Mohamed bin Zayed Al Nahyan and Pakistan Prime Minister Shehbaz Sharif reviewed the ties between the two countries and discussed ways to enhance cooperation.Mohamed bin Zayed arrived in the Pakistani city of Rahim Yar Khan during his visit to country that was ravaged by...

Nearly four years after India and Pakistan used fighter planes to bomb targets in divided Kashmir, former US secretary of state Mike Pompeo has revealed in his memoir "Never Give an Inch" that the two rivals came close to nuclear war in 2019 and that US intervention prevented escalation.

Islamabad, Pakistan--A massive power breakdown in Pakistan on Monday affected most of the country's more than 220 million people, including in the mega cities of Karachi and Lahore.Pakistan's electricity distribution system is a complex and delicate web, and a problem in one section of the grid can lead to cascading breakdowns...

The UAE pledged to roll over $2 billion in debt due over the next two months, with an additional $1 billion pledged during Prime Minister Shehbaz Sharif's ongoing visit to the emirates.

The agreement comes as Pakistan grapples with a major foreign exchange crisis, holding enough reserves to pay for just three weeks of imports.

The last eight years were the warmest. Average temperatures across 2022 -- which saw a cascade of unprecedented natural disasters made more likely and deadly by climate change -- make it the fifth warmest year since records began in the 19th century, according to the Copernicus Climate Change Service.

In December last year, the kingdom had extended the term of a $3 billion deposit to boost Pakistan's foreign currency reserves.

Months after the floods left most of the country devastated, Pakistan will seek billions in international support toward its recovery and to help it better resist climate change. It will co-host a conference with the UN in Geneva, urging countries, organizations and businesses to step up with financial and other...

A delegation of the UAE Federal National Council's Parliamentary Division, led by Dr. Nidal Mohamed Al-Tunaiji met with Nuzhat Sadiq, Member of the Senate of Pakistan.

Abu Dhabi, UAE--The bilateral trade between Pakistan and the United Arab Emirates is expected to double from the US$10.6 billion, according to Pakistan's ambassador to the UAE Faisal Niaz Tirmizi.The last calendar year recorded a US$10.6 billion in trade “the highest volume Pakistan had in the Middle East and North...

Ajman, UAE--Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed the Chamber's keenness to consolidate its external relations and build strong partnerships to achieve sustainable future growth for the economy of the Emirate of Ajman.This came during his meeting, at...

The events aim to focus on the rights of the child and the duties of states and societies in order to protect and care for them.

The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti.

Nations hit by the impact of global warming can now be compensated from the "loss and damage" fund created by the UN's COP27 climate summit. The fund was approved by consensus following two weeks of contentious negotiations over demands by developing nations for rich polluters to compensate them.

The G77+China block of more than 130 developing nations called in a position paper for a special fund "for assisting developing countries in meeting their costs of addressing non-economic and economic loss and damage" caused by extreme weather disasters and rising sea levels.

The summit reviews ways to enhance integration of the optimal energy mix for electricity production to achieving climate change targets through MoUs and agreements.

Just in the past few months, climate-induced catastrophes have killed thousands, displaced millions and cost billions in damages across the world. Massive floods devastated swaths of Pakistan and Nigeria, droughts worsened in Africa and the western United States, and cyclones whipped the Caribbean.

The analysis, "Hunger in a heating world," found that acute hunger had risen 123 percent over six years in the ten most-affected nations, defined by the most number of UN weather appeals. "The effects of severe weather events are already being felt," Lia Lindsey, Oxfam America's senior humanitarian policy advisory...

Showcasing its growing rift with the Western world, Vladimir Putin will meet China's Xi Jinping and other Asian leaders in a regional summit in Samarkand. The Shanghai Cooperation Organization was set up in 2001 as a political, economic and security organization to rival Western institutions.

The UN's World Meteorological Organization and its Environment Programme warned that the catastrophes such as Pakistan's monumental floods and China's crop-withering heatwave this year will become commonplace should the world economy fail to decarbonize.

Calling on the world to put an end to the war with nature by investing in renewable energy now, UN head Antonio Guterres said Pakistan and other developing countries are paying a horrific price for the intransigence of big emitters that continue to bet on fossil fuels.

The relief aid includes shelter materials, humanitarian needs, food and medical parcels for those affected by torrential rains and floods

The rains that began in June have unleashed the worst flooding in more than a decade, washing away swathes of vital crops and damaging or destroying more than a million homes. Authorities and charities are struggling to accelerate aid delivery to more than 33 million people affected, a challenging task...

The United Arab Emirates this month said it would invest $1 billion in Pakistan and, according to reports, Saudi Arabia is considering extending an emergency $2 billion loan made last year. The latest boost came in talks between Qatar's emir Sheikh Tamim bin Hamad Al Thani and Pakistan's Prime Minister...

Sheikh Mohamed received General Bajwaat Qasr Al Bahr Majlis and discussed with him bilateral cooperation and joint action in areas of defence.

The Group is planning a new acquisition in Egypt.

Saudi Arabia and Pakistan reviewed bilateral relations in a meeting between Crown Prince Mohammed bin Salman and Pakistan army chief Qamar Javed Bajwa.

Pakistan's new government, grappling with soaring inflation and political unrest, unveiled a 9.5 trillion rupee ($47 billion) budget Friday, earmarking more than 40 percent to service the country's massive foreign and domestic debt.