Britain agreed the most significant reset of defence and trade ties with the European Union since Brexit on Monday after US President Donald Trump’s upending of the global order pushed the two sides to move on from their acrimonious divorce. Nearly nine years after it voted to leave the bloc, Britain, the second largest defence spender in Europe, will take part in joint procurement projects. Th
US stocks fell with the dollar on Monday as markets reacted to the United States losing its last gold-standard sovereign bond rating over a debt pile that could balloon further. The downgrade by Moody’s dealt a blow to markets, which had enjoyed a healthy run-up last week after Washington and China reached a deal to temporarily slash tit-for-tat tariffs. US stocks were down in midday trading, l
Pakistan and the International Monetary Fund (IMF) opened high-level policy talks in Islamabad on Monday to discuss the upcoming federal budget for fiscal year 2025-26, officials said. The current round of discussions, which will continue till May 23, will help determine whether Pakistan’s proposed budget meets the fiscal and reform targets agreed with the IMF under the Extended Fund Facilit
The Pakistan Stock Exchange (PSX) recorded a historic rally during the week ending May 17, 2025, as the KSE-100 Index gained 12,474 points to settle at 119,649, reflecting an 11.64 per cent increase week-on-week. This marked one of the biggest weekly advances in the index’s history, driven primarily by a US-brokered ceasefire agreement between Pakistan and India on May 10. The easing of geop
Bank advances sharply declined by Rs1.589 trillion during the January to April period of the current fiscal year, despite a notable reduction in interest rates, while bank investments in government securities have surged significantly over the same period. According to the latest data from the State Bank of Pakistan (SBP), total advances dropped from Rs14.727tr in January to Rs13.138tr by April