Avanceon FZE, a wholly owned subsidiary of Avanceon Limited, has secured a multi-million-dollar project to provide advanced energy solutions and services to the oil and gas sector in the Middle East. According to the company’s notice to the PSX, this acquisition of the project underscores Avanceon’s commitment to delivering world-class automation and control solutions to … Read more
BERLIN: German Foreign Minister Annalena Baerbock was to leave for a Middle East trip Wednesday, Berlin said as efforts continue towards a deal between Israel and Hamas to end the Gaza war. Pressure has mounted on Israeli Prime Minister Benjamin Netanyahu to agree to a deal to end the fighting, days after Israel’s military recovered … Read more
KARACHI: Pakistan is setting its sights on securing up to $4 billion from Middle Eastern commercial banks by the fiscal year 2026 (FY26) as part of its strategy to bridge external financing gaps, according to State Bank of Pakistan (SBP) Governor Jameel Ahmad. In an exclusive interview, his first since assuming office in 2022, Governor … Read more
Governor of the State Bank of Pakistan, Jameel Ahmad presents the new fiscal policy at the bank’s headquarters in Karachi on January 23, 2023. — AFP SBP head says efforts ramped up to plug external financing gaps. Ahmad hopes to secure $2 billion in additional external financing. Says inflation slowing after central bank reduced interest … Read more
AMMAN: The top US general began an unannounced visit to the Middle East on Saturday to discuss ways to avoid any new escalation in tensions that could spiral into a broader conflict, as the region braces for a threatened Iranian attack against Israel. Air Force General C.Q. Brown, chairman of the Joint Chiefs of Staff, … Read more
Democratic presidential nominee and US Vice President Kamala Harris speaks on Day 4 of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, US, August 22, 2024. — Reuters Harris formally accepts party’s nomination for president. US VP assails Donald Trump as she caps four-day DNC. Calls building middle class “defining goal of … Read more
ISLAMABAD: As Pakistan begins seeking commercial loans from Middle Eastern banks to bridge a $2 billion external financing gap, the government informed a Senate panel on Thursday that the cost of borrowing from the International Monetary Fund (IMF) has exceeded 5%, making it an expensive option. On Thursday, Finance Minister Muhammad Aurangzeb reached out to … Read more
Pakistan is negotiating with Middle Eastern banks to secure approximately $4 billion in loans necessary to meet its external financial requirements for FY 2024-25. This effort is part of a broader $7 billion Extended Fund Facility (EFF) awaiting approval from the International Monetary Fund (IMF). According to media reports, Finance Minister Muhammad Aurangzeb, along with … Read more
WASHINGTON: US Defense Secretary Lloyd Austin ordered the deployment of a guided missile submarine to the Middle East, the Pentagon said Sunday. In a phone call with Israeli Defense Minister Yoav Gallant, Austin reiterated the US’s commitment to take “every possible” step to defend Israel, the Pentagon said in a statement. “Reinforcing this commitment, Secretary … Read more
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LONDON: Continuing its weapon and intelligence support for Israel’s attacks in Gaza, the UK is on alert amid reported preparations for retaliation by Iran and its allies following last week’s assassination of Hamas Political Bureau Chief Ismail Haniyeh. As Israel-Iran tensions point to a possible war, the UK, pledging to protect Israel since the Gaza … Read more