Business
Economy in ‘good spot,’ claims FinMin Aurangzeb amid global support | The Express Tribune
Says macro-economic stability, ‘geopolitical tailwinds’ leave Pakistan poised for growth, investment
In a virtual address at the second edition of the Pakistan International Maritime Expo and Conference in Karachi, Federal Minister for Finance Muhammad Aurangzeb said on Tuesday that Pakistan is enjoying a moment of convergence between internal economic stability and favourable international dynamics.
“Where we are as a country, we find ourselves in a good spot at this point and time because there is a confluence of factors,” he said.
وفاقی وزیر خزانہ سینیٹر محمد اورنگزیب کا کہنا ہے کہ پاکستانی معیشت درست سمت کی جانب گامزن ہے اور بلیو اکانومی ملکی معیشت کےلیے گیم چینجر ثابت ہوگی۔پاکستان انٹرنیشنل میری ٹائم ایکسپو 2025 سے ورچوئل خطاب کرتے ہوئے وزیر خزانہ محمد اورنگزیب کا کہنا تھا معاشی استحکام کے لیے ڈھائی سال… pic.twitter.com/j62Q3Vtbm7
— Times of Karachi (@TOKCityOfLights) November 4, 2025
He pointed to what he described as “macroeconomic stability combined with geopolitical tailwinds” as the main drivers of this improved position.
Aurangzeb underlined that the country’s long-standing relationships with its partners can now be transformed from mere government-to-government engagements into tangible trade and investment flows. “Our traditional partners, who have helped us through thick and thin … we find ourselves in a spot that we can now… move from government-to-government (G2G) discussions to trade and investment flows into the country,” he told the conference.
On the subject of global confidence in Pakistan’s economic management, Aurangzeb said that after a gap of two to three years, three major global rating agencies are now aligned in their view, reporting upgrades this year and offering stable outlooks. “After a hiatus of two to three years, we have three global rating agencies which are fully aligned … in terms of the upgrades we have seen over the course of this year, but also their outlook, which is stable for Pakistan’s economy,” he said.
He stated that the country is currently a part of an International Monetary Fund (IMF) programme, and that the recently announced staff-level agreement was evidence of international confidence in Pakistani authorities.
Blue Economy
Turning to sectoral strategy, Aurangzeb described the “blue economy” as a potential game-changer for Pakistan. He said the sector currently accounts for roughly $1 billion (0.4-0.5% of Gross Domestic Product [GDP]) and aims to scale significantly. “We are hovering at about 0.4 to 0.5 per cent of the national gross domestic product, which equates to roughly $1 billion,” he said, adding that Pakistan’s “real potential” was as high as $3 trillion.
The minister also emphasised that policy consistency would be central to achieving these goals. “As the finance minister, I would like to assure you … that we are going to ensure that there is policy consistency. Whatever we say, we see it through the cycle. So I think that is going to be a very important part of how we are going to take this discussion forward,” he said.
He outlined plans for seafood exports, currently sitting at approximately $500 million, to reach $2 billion over the next three to four years. “Getting that to $2 billion over the next three to four years was a very achievable milestone,” he said.
Further strategic pillars identified included modernising ports and logistics, digitisation, renewable energy and innovative financing such as blue bonds and blended finance.
The remarks signal Pakistan’s intent to harness a window of favourable external conditions and internal reform momentum to accelerate growth. However, ambitious targets and promises of sustained policy consistency will demand careful execution, strengthened institutional frameworks and deeper market confidence.
Last Updated:
State Bank of India is well-positioned to support outbound financing due to its deep understanding of domestic corporates, CS Setty said.
State Bank of India (Representative)
State Bank of India’s Chairperson CS Setty on Tuesday said that the country’s largest lender is open to collaborating with foreign banks once the Reserve Bank makes it possible for local banks to do acquisition finance.
Weeks after the central bank announced its intent to allow Indian banks to fund companies for executing domestic acquisitions, Setty acknowledged that the “MNC (multinational companies) banks” are dominant in the space.
“Yes, I think some of the MNC banks are very well into this activity. We don’t mind collaborating with them,” Setty said as quoted by news agency PTI.
He said that SBI has always been doing outbound acquisition finance and has also gained considerable expertise in this aspect. He further said that SBI can also use its in-house investment banking unit SBI Capital Markets’ expertise for such deals.
State Bank of India is well-positioned to support outbound financing due to its deep understanding of domestic corporates, the SBI chairman added.
Setty added that the bank is still evaluating the Reserve Bank of India’s recent decision permitting acquisition financing and will finalise its stance shortly.
However, Setty noted that SBI has reservations about the RBI’s proposal to limit total M&A-related lending to 10% of a bank’s core capital. He said SBI, through the Indian Banks’ Association, plans to take up the matter with the regulator. He also clarified that any future merger and acquisition financing will be handled by the bank’s existing corporate finance division, and there are no plans to create a separate vertical for this purpose.
Meanwhile, Setty said that it will be launching a newer version of its mobile application Yono by the end of December this year, and added that it will be a completely revamped version of the app.
The bank is targeting to more than double the overall number of mobile banking users to 20 crore in an unspecified time, and the new version of the app will be able to handle the traffic that comes through it, Setty said
(With inputs from PTI)
Shobhit Gupta is a sub-editor at News18.com and covers India and International news. He is interested in day to day political affairs in India and geopolitics. He earned his BA Journalism (Hons) degree from Ben…Read More
Shobhit Gupta is a sub-editor at News18.com and covers India and International news. He is interested in day to day political affairs in India and geopolitics. He earned his BA Journalism (Hons) degree from Ben… Read More
November 04, 2025, 23:49 IST
Read More
Business
‘KPop Demon Hunters’ is boosting more than just Netflix: Korean music, politics ride the craze
At South Korea’s largest amusement park, crowds of people wait for hours to be a part of the “KPop Demon Hunters” craze.
U.S. streaming giant Netflix, the distributor of the Sony Pictures Animation film, has collaborated with the Everland park outside of the capital city Seoul to create a themed zone featuring whack-a-mole, dance games and snacks from the movie.
It’s the latest iteration of the “KPop Demon Hunters” frenzy as the film takes Netflix by storm — and delivers a boost to the $10 billion K-pop music industry along with it.
Netflix said in August that “KPop Demon Hunters” had become the most popular Netflix film ever. In October, the streamer said “KPop Demon Hunters” had exceeded 325 million views.
The company has sought to capitalize on the popularity, offering two limited-window theatrical screenings for the film and striking consumer product deals with Hasbro and Mattel to get “KPop Demon Hunters” toys and merch on shelves.
Agnes Lee helped cast the movie and scout locations from Seoul as an associate producer for the film.
“K-pop and K-culture was such a huge and important part of this movie,” Lee told CNBC in Seoul. “We wanted to be authentic.”
Once popular mainly in Asia, K-pop music has become a global phenomenon. Artists like PSY, who shot to international stardom in 2012 with his viral music video “Gangnam Style,” put an international spotlight on K-pop. PSY’s hit song became YouTube’s most-watched video that year.
Since then, other K-pop acts have run up impressive numbers, too. BTS’ song “Dynamite” has exceeded 2 billion streams on Spotify. BLACKPINK’s 2023 tour became the highest-grossing by a female group on record, according to stats at the time from Touring Data.
Now, even “KPop Demon Hunters'” fictional bands are topping the global music charts.
Audrey Nuna, EJAE and Rei Ami attend the KPop Demon Hunters Special Screening at Netflix Tudum Theater on June 16, 2025 in Los Angeles, California., U.S.
Charley Gallay | Getty Images Entertainment | Getty Images
“I think people watched ‘KPop Demon Hunters’ in spite of that ‘K-pop’ in the title. And then, after watching it, they realized, ‘Oh, wow. I’m a K-pop fan,'” said Danny Chung, a K-pop producer and the voice of the film’s character, Baby Saja. “And now there’s a whole back catalogue of three decades of K-pop music that they have to dive into.”
And there’s plenty more to come: BLACKPINK is expected to release a new album. BTS is planning a comeback in 2026 after members of the band completed South Korea’s mandatory military service.
Enthusiastic investors have pumped up the stock prices of South Korea’s “Big Four” K-pop companies. Shares of HYBE, JYP Entertainment, SM Entertainment and YG Entertainment are all up double-digits year to date. YG is up more than 100%.
The impact of the film’s rise may not stop at music.
“The breakout success of ‘KPop Demon Hunters,’ which could become one of Netflix’s most-watched content items, underscores K-content phenomenon in global market,” Mirae Asset Global Investments said in an Oct. 19 report. “We believe this cultural boom is a key catalyst driving increased international consumption of Korean cosmetics and food products such as noodles.”
On the political front, speculation is high that China, which blocked K-pop and other South Korean cultural exports under President Xi Jinping’s campaign to promote what Beijing considers proper socialist values, could soften its restrictions.
The countries’ presidents had a positive meeting on the sidelines of the APEC summit in Gyeongju, South Korea.
“We continue to see K-pop as a direct beneficiary of thawing Korea-China relations,” Mirae said.
Last Updated:
Former trustee at the Tata Trusts, Mehli Mistry made what looked like a harmonious exit from the Tata group citing commitment to the late Ratan Tata
Former trustee at Tata Trusts, Mehli Mistry officially parted ways with the Tata group on November 4. (Image: @Suhelseth/X)
Bringing an end to the speculation around his trusteeship at the Tata Trusts, former trustee Mehli Mistry officially parted ways with the Tata Group on Tuesday.
In a parting note he penned for the trustees, Mehli Mistry stressed that “nobody is bigger than the institution it serves”.
Mistry made what looked like a harmonious exit citing commitment to the late Ratan N Tata. He addressed his letter to all trustees of the Tata Trusts, including chairman Noel Tata.
“… I have been made aware of the recent reportage surrounding my trusteeship in the Tata Trusts, upon my return to Mumbai last night. I believe that this letter should assist in putting the quietus on speculative news reports that do not serve the interests of the Tata Trusts and are inimical to its vision… I part ways with a quote that Ratan N Tata used to say to me, ‘Nobody is bigger than the institution it serves…’,” read Mistry’s letter.
In his letter, he expressed that his commitment to Ratan N Tata’s vision includes a responsibility to ensure that the Tata Trusts are not plunged into controversy and that precipitating matters will cause irreparable harm to its reputation.
“Therefore, in the spirit of Mr Ratan N Tata, who always put public interest before his own, I hope that the actions of the other trustees going forward will be guided by the principles of transparency, good governance, and public interest,” he wrote.
On October 27, the former trustee’s role came to an end and, as per the resolution of the Board of Trustees of the Tata Trusts taken on October 17 last year, he was to be reappointed as a lifetime trustee. But three trustees did not the reappointment to the two key trusts, the Sir Dorabji Tata Trust and Sir Ratan Tata Trust. He had also filed a preemptive caveat with the Maharashtra Charity Commissioner, requesting that he be granted a hearing before any modifications are made to the list of trustees.
(With agency inputs)
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
November 04, 2025, 21:35 IST
Read More
UEFA Champions League updates: Liverpool-Real Madrid, PSG-Bayern
Prince Harry triggers fresh war with King Charles, Prince William
Our Favorite Gaming Headset for Xbox Owners Is Discounted
-
Tech1 week agoOpenAI says a million ChatGPT users talk about suicide
-
Tech7 days agoHow digital technologies can support a circular economy
-
Tech7 days agoUS Ralph Lauren partners with Microsoft for AI shopping experience
-
Sports7 days agoBilly Bob Thornton dishes on Cowboys owner Jerry Jones’ acting prowess after ‘Landman’ cameo
-
Tech7 days agoAI chatbots are becoming everyday tools for mundane tasks, use data shows
-
Tech1 week agoHere’s How Many People May Use ChatGPT During a Mental Health Crisis Each Week
-
Fashion1 week agoITMF elects new board at 2025 Yogyakarta conference
-
Fashion1 week agoJapan’s textile trade shows strong apparel demand, weak yarn imports