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PM Faces Motion of No Confidence
The Pakistan PM faced the motion for no confidence moved by the opposition. This came in the wake of a sudden no confidence movement. The Pakistan government also received information that a country had sensitized the Pakistan officials about its displeasure regarding the regime in Pakistan. In reaction, the Speaker of the National Assembly…
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Pakistan National Security Committee Meets to Discuss Regime Change
Pakistan’s National Security Committee (“NSC”) met to discuss the information detected about a foreign country was trying to bring in regime change in Pakistan. The NSC termed the communication by a foreign official as blatant interference in the internal affairs of Pakistan by the country in question, which was unacceptable under any circumstances. According…
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Russia Demands Roubles for its Exports
It was announced by Russia that it will demand Roubles for its exports which are dominated by energy and commodities.
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Pakistan Private Sector Commercial Credit Rises
Pakistan’s Minister for Finance and Revenue, Shaukat Tarin announced that for the July to March period of the FY22, private credit for commercial purposes increased to touch Rs. 911 billion (last: Rs. 357 billion). With an expanding economy and more certainty in policies, the sectors started consuming more funds.
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ARAMCO Facilities Attacked
Saudi Arabia’s ARAMCO facilities were attacked by, reportedly, Yemen’s Houthis. ARAMCO’s s petroleum products distribution station in Jeddah was hit, causing massive fires in two storage tanks however no casualties were reported. The Saudi Arabian Grand Prix was taking place at the time of this attack.
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World Region’s Growth Revised
Growth forecasts for FY22 the world regions were revised based on the current situations and commodity prices, esp. oil. They were predominantly revised downwards. The World’s GDP was revised to -1%, UK’s GDP was revised from 6% to 3.8%, Germany from 4% to 2.1%, US from 4% to 2.8%, Eurozone from 4.2% to 3.7%.…
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OIC Meets in Islamabad Pakistan
The Organization of Islamic Countries (“OIC”) Council of Foreign Ministers met in Islamabad, Pakistan for a two day meeting to discuss the latest situation in the world, problems in the Islamic world and to discuss ways to ensure growth and development. The theme of this summit is ‘partnering for unity, justice and development’. This…
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Pakistan & Barrik Gold Reach Agreement on Reko Diq
Pakistan & Barrik Gold reached an agreement on Pakistan’s Reko Diq gold mine, for the extraction of gold and copper reserves with an investment of US$10 billion. This agreement has come after the long standing dispute with the company has come to an amicable end. The new agreement was signed by representatives of the…
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Pakistan Current Account Deficit for 8 Months
Pakistan’s Current Account Deficit for the period July – March FY22 touched $12.1billion (last: $994 million surplus). The rise in the current account was mainly due to a proportionately larger rise in imports despite an increase in exports.
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FDI Into Pakistan for 8 Months
FDI into Pakistan for the July – February FY22 rose by 6% to touch $1.26 (last: $1.19 billion). Chinese investment was $385 million (last: $523 million), United States ranked $175 million (last: $84 million). The major was in the Power Sector amounting to $430 million, followed by Financial Business worth $275 million and Communications…
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Fitch Downgrades Russia Credit Rating
Fitch downgraded Russia’s credit rating in natural resource companies such as the gas giant Gazprom, oil producer Lukoil and miner Rusal, from B to CC which is junk class. Fitch warned that they along with Russia are close to default. Fitch said that the Russian decision of 5th March to settle foreign debts in…
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India Admits Its Accident in Missile Fiasco
India admitted on 11th March 2022, that it had supposedly ‘accidentally’ fired a Bhramos supersonic missile due to ‘technical malfunction’ on 9th March 2022, which changed its trajectory and crossed into Pakistan. The missile landed in a field in Mian Channu, Punjab, Pakistan. Pakistan strongly protested this irresponsible behavior of the Indian armed forces,…
