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ADB to back Pakistan rail upgrade | The Express Tribune
ISLAMABAD:
The Asian Development Bank (ADB) will fund upgrades to part of Pakistan’s railway system, replacing China, after prolonged delays in securing financing from Beijing threatened to put a strain on a strategic mining project, two sources said on Friday.
An extensive revamp of 1,800 -kilometres of railways has been the centrepiece of a $60 billion Chinese investment programme in Pakistan announced in 2015 as part of Beijing’s Belt and Road Initiative (BRI) global infrastructure push.
The ADB is in advanced talks to lead the financing of a $2 billion upgrade of a 500-km stretch of the railway line from Karachi to Rohri in the country’s south that had previously been part of the Chinese project, said two sources with direct knowledge of the discussions.
The upgrade has become urgent, they said, as it is needed to transport copper ore from the Reko Diq mine being developed by Canada’s Barrick Mining Corp.
The ADB would not confirm the finance package. But it said Pakistan’s government and the regional lender “have regular discussions on railway sector development”.
The Bank of England votes for no immediate change to borrowing costs as it monitors the knock-on effects of the Middle East conflict.
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India’s FDI inflow may cross $90 billion in FY26, says DPIIT secretary – The Times of India
India’s total foreign direct investment (FDI) inflows are likely to cross $90 billion in 2025-26 after already surpassing $88 billion during April-February, a top government official said on Thursday.DPIIT Secretary Amardeep Singh Bhatia said the government had undertaken a series of policy measures to attract foreign investments into the country, PTI reported.He said that during April-February 2025-26, inflows had crossed $88 billion and were “hopefully crossing $90 billion” for the full fiscal year.According to Bhatia, reform measures, free trade agreements and India’s fast-growing economy are helping the country attract strong investment flows.This reflects continued momentum in foreign investment inflows amid the government’s push to improve ease of doing business and expand global trade linkages.
“It does seem as though escalation in the war is back on the table, be it in the guise of the US continuing its blockade in Iran, but also reports and rumours that in order to get out of this bind, Iran may start to strike again,” said Naveen Das, senior oil analyst at Kpler.
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