The Pakistan Stock Exchange (PSX) rallied sharply on Wednesday, with the benchmark KSE-100 Index gaining over 4,000 points as investor sentiment strengthened on optimism surrounding potential US-Iran talks.

US President Donald Trump has said negotiations between US and Iranian officials could resume in Pakistan in the next two days and Vice President JD Vance, who led weekend talks last week that ended without a breakthrough, said he felt positive about where things stood.

“I think you’re going to be watching an amazing two days ahead,” Trump told ABC News reporter Jonathan Karl, adding he did not think it would be necessary to extend a two-week ceasefire that ends on April 21.

KSE-100 index, the benchmark of the PSX, surged to 170,179.03 points after registering a rise of 4,544.19 points or 2.74%, up from the previous close of 165,634.84 points.

Ahfaz Mustafa, CEO of Ismail Iqbal Securities, told Geo.tv: “The expectations of the Middle East conflict resolving by the weekend, and lower oil prices have given new confidence to investors.”

“This, coupled with Saudi deposits, and an overall feel-good sentiment due to Pakistan taking centre stage, is fueling the rally,” the analyst added.

Saudi Arabia will provide $3 billion in additional support for Pakistan to help the South Asian nation bridge a multibillion-dollar gap in its finances linked to an upcoming debt repayment to the United Arab Emirates.

The extra funding for Pakistan comes on top of Riyadh extending the rollover arrangement for an additional $5 billion deposit for a longer period, Pakistan Finance Minister Muhammad Aurangzeb told reporters in Washington.

Under Pakistan’s $7 billion IMF programme, the country is targeting foreign exchange reserves of more than $18 billion by June.

“Senator Aurangzeb said this support comes at a critical time for Pakistan’s external financing needs and would help reinforce foreign exchange reserves and strengthen the country’s external account,” the finance ministry said in a statement.

• Fresh $3bn support to be disbursed next week.
• Pakistan repays $1.4bn Eurobond, calls it non-event.
• IMF, investors show confidence in Pakistan’s economic outlook.

WASHINGTON: Saudi Arabia has committed $3 billion in additional financial support for Pakistan, with disbursement expected next week, while also extending its existing $5 billion deposit for a longer period, Finance Minister Muhammad Aurangzeb said on Wednesday.

Speaking to journalists in Washington on the sidelines of the World Bank-IMF Spring Meetings 2026, Aurangzeb said the fresh Saudi support comes at a critical time for Pakistan’s external financing needs and will help bolster foreign exchange reserves and strengthen the external account.

The development comes amid reports that Pakistan was in talks with Saudi Arabia and China to secure financial support as it prepares to repay a roughly $3 billion loan to the United Arab Emirates.

The talks, The News reported, citing Bloomberg, involve loans and investment, the people said, asking not to be identified because the talks are private. The amount of support under discussion is more than $3.5 billion, one of the people said.

Pakistan failed to reach an agreement with the UAE to roll over the debt for the first time in seven years. Islamabad will now repay the amount by the end of this month, putting significant strain on its foreign exchange reserves, which stand at about $16 billion, enough to cover just three months of imports.

FinMin Aurangzeb, while talking to the media today, noted that the government remains committed to maintaining reserves in line with its obligations under the IMF-supported programme, targeting around $18 billion — equivalent to approximately 3.3 months of import cover — by the end of the current fiscal year.

He further revealed that the existing $5 billion Saudi deposit will no longer be subject to annual rollover arrangements and will instead be extended for a longer tenure, providing greater financial stability.

Highlighting recent developments, the finance minister said Pakistan had successfully repaid its $1.4 billion Eurobond last week, describing the transaction as a “non-event,” and reaffirmed the government’s resolve to meet all upcoming external obligations on time under a clearly defined and disciplined financing plan.

He also shared that he, along with the State Bank of Pakistan governor and Pakistan’s ambassador to the United States, held a detailed meeting with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan in Washington. He added that he had also met the Saudi minister earlier in Islamabad but refrained from public comment at the time due to the absence of formal communication.

The minister expressed gratitude to Saudi leadership, particularly Crown Prince Mohammed bin Salman, Finance Minister Al-Jadaan and the Saudi vice finance minister, for their continued support and cooperation in finalising the package.

Aurangzeb also acknowledged the role of Pakistan’s leadership, including Prime Minister Shehbaz Sharif, Field Marshal Asim Munir, Deputy Prime Minister and Foreign Minister Ishaq Dar, and key economic officials, in securing and operationalising the support.

He said Pakistan is witnessing growing confidence from international financial institutions, including the IMF and the World Bank, as well as institutional investors, noting that the country’s recent diplomatic role in facilitating dialogue between rival states has been widely appreciated.

The minister added that this international goodwill, combined with Saudi Arabia’s timely assistance, has strengthened economic momentum and investor confidence.

He further noted that Pakistan is advancing its broader external financing strategy, including the Global Medium-Term Note (GMTN) programme and plans for its inaugural Panda Bond issuance, aimed at diversifying funding sources and enhancing market access.

Concluding his remarks, Aurangzeb reaffirmed the government’s commitment to macroeconomic stability, continuity of reforms, timely debt servicing, and sustained engagement with bilateral and multilateral partners, adding that a detailed media briefing would follow at the end of his visit.

Nicolas Cage is officially set to return to the world of Longlegs for a new movie installment, re-teaming with director Osgood Perkins to expand the hit horror franchise. 

Paramount Pictures has secured the rights to the mysterious new project following the massive success of the original serial killer thriller, which became a breakout sensation in 2024. 

Cage will not only return to star in the film but will also serve as a producer, ensuring he remains a central figure in the demented universe he helped create.

The news of the sequel was appropriately revealed on the 14th of the month, a nod to the film’s lore, though specific plot details are currently being kept strictly under wraps. 

The first film, which saw an FBI agent hunting a homicidal maniac, was a staggering commercial success, grossing $128 million from a modest $10 million budget. 

Cage’s performance as the Satan-worshipping killer was particularly praised for being both disturbing and delightful, further solidifying his reputation for taking on deeply twisted and memorable roles.

Osgood Perkins is back to write and direct the yet-to-be-titled movie, fresh off the back of establishing himself as a modern maestro of the horror genre. 

Since the first Longlegs film, Perkins has been incredibly busy, recently wrapping production on his next feature, The Young People, which stars Nicole Kidman. 

He has also worked on other highly anticipated projects like The Monkey, based on a Stephen King short story, and Keeper, both of which kept him firmly within the indie horror scene.

For fans of the first film, Cage’s involvement suggests the sequel will lean just as heavily into the dark, atmospheric horror that made the original 2024 thriller such a significant cultural moment.