Remittances Boost Pakistan’s Economy as Major Overseas Workers Send More Money Home ISLAMABAD — Pakistan has kicked off the new fiscal year 2025-26 on a positive note with a significant rise in remittances, the central bank announced. The inflows mainly came from key overseas employment hubs, with Saudi Arabia leading the way, contributing $823.7 million. […]
Saudi Riyal Drops Slightly to Rs75.28, Highlighting Its Crucial Role in Pakistan’s Economy The Saudi Riyal has seen a modest decline against the Pakistani Rupee, with the selling rate now at Rs75.85. This gradual downward trend is mainly driven by market corrections and steady remittance inflows from overseas workers, emphasizing the Riyal’s ongoing importance in […]
PKR Sees Small Gain Against US Dollar, Brings Hope for Economy In today’s trading session, the Pakistani Rupee (PKR) moved slightly but stayed mostly steady. It hit a high of 283.0 and a low of 285.7 during the day. In the open market, the US Dollar was being bought at PKR 283.05 and sold at […]
“The world has been surprised by Pakistan’s economic development and has affirmed the betterment of the economy,” the federal minister said here while speaking at a gathering. “We are reducing the burden on the salaried class,” the minister said. He said the FBR’s digitization has been underway. “Lesser human interference will bring transparency”, the finance […]
The US economy, the world’s largest, unexpectedly contracted in the first three months of the year as Trump began his plans for sweeping tariffs. “This is a transition period. I think we’re going to do fantastically,” Trump told the News show “Meet the Press with Kristen Welker.” Pressed on whether the United States could dip […]
Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar will attend the 21st Session of the D-8 Council of Ministers on Wednesday, according to a press statement issued by the Foreign Office. The theme of the 11th D-8 Summit is “Investing in Youth and Supporting SMEs: Shaping Tomorrow’s Economy.” “At the Summit, the Prime Minister […]
New orders, closely watched as an indicator of future business activity, plunged by 5.8 percent month-on-month, according to federal statistics agency Destatis, following an upwardly revised increase of 3.9 percent in July. Analysts surveyed by financial data firm FactSet had been expecting a much smaller decline of 1.8 percent in August. Excluding large orders, which […]
The world’s second-largest economy posted some of its lowest growth in decades last year and is battling a prolonged property sector crisis and soaring youth unemployment. But in a rare bright spot, official statistics Saturday showed the consumer price index rose 0.7 percent last month, according to Beijing’s National Bureau of Statistics (NBS) the first […]
A collapse in foreign exchange reserves saw months of food and fuel shortages along with street protests that forced the ouster of President Ranil Wickremesinghe’s predecessor in 2022. Sri Lanka has since signed up for an International Monetary Fund rescue package and has been working to repair public finances since the government defaulted in April […]
The fate of millions of Syrian refugees in Turkey hangs in the balance amid fears that they may become pawns in the country’s changing politics. Syrian refugees have become central in the political debate in Turkey ahead of elections next year. Calls to repatriate them to war-torn Syria used to be the cause of fringe, […]
