Business
Pakistan repays $500m Eurobond on time, meets all obligations | The Express Tribune

Pakistan has successfully repaid its $500 million International Bond (Eurobond) that matured on September 30, 2025, in line with all its obligations.
Advisor to the Finance Minister Khurram Schehzad announced on X on Wednesday that the Eurobond, issued in 2015 to global investors with a 10-year tenor, was settled on time.
Update: 🇵🇰 Pakistan Maintains Steady Debt Servicing, Amid Strengthening Fundamentals and Improving Outlook
Pakistan’s has successfully repaid its $500mn International Bond (Eurobond) due on 30 Sep 2025 – as scheduled, in line with all its obligations.
Issued in 2015 to…
— Khurram Schehzad (@kschehzad) October 1, 2025
“This repayment reflects Pakistan’s ability and determination to honor its international obligations on schedule,” Schehzad said. “What makes it even more significant is that it comes at a time of improving fundamentals and investor sentiment.”
The announcement comes against the backdrop of recent gains in Pakistan’s economic indicators. External buffers and liquidity have strengthened, sovereign ratings have been upgraded, and investor confidence has picked up — with Pakistan’s bonds trading at a premium in recent months.
Read: Rating upgrade sparks Eurobond rally
Debt sustainability metrics have also improved. Pakistan’s debt-to-GDP ratio has declined from 77 per cent in FY20 to 70 per cent in FY25. The share of external debt in total public debt has fallen from 38pc to 32pc, reducing foreign exchange vulnerabilities. Debt growth has also moderated sharply in FY25 compared to earlier years.
Looking ahead, Pakistan is better positioned to re-enter international markets. “Easing global borrowing costs, coupled with stronger fundamentals, give Pakistan room to access capital on more competitive terms and build a more sustainable debt profile,” Schehzad added.
Pakistan’s international bonds have been on an upward trajectory in recent months, aided by improving macroeconomic fundamentals. Following Standard & Poor’s upgrade of Pakistan’s sovereign credit rating to ‘B-‘ with a stable outlook in July 2025, bonds across the yield curve witnessed strong gains, with longer-tenor instruments rallying sharply. The 30-year bond maturing in 2051 rose over 10% month-to-date, while shorter maturities, including the 2025 and 2026 bonds, also edged higher.
Investor confidence has remained resilient even during periods of geopolitical tension. In May 2025, Pakistan’s Eurobond and Sukuk prices posted notable gains despite Indo-Pak escalation, as yields declined by up to 61 basis points across tenors. Analysts attributed this to IMF programme progress, improved foreign reserves, and controlled inflation, which reduced default risk and attracted global investors.
Read More: Global bonds rally despite Indo-Pak escalation
The momentum in global debt markets has been building since 2023. Pakistan’s international bonds more than doubled in value after securing a $3 billion IMF bailout in June 2023, with investors expressing renewed confidence in reforms and the government’s ability to service its debt. Analysts noted that the sharp rally in Eurobonds and Sukuks was driven by fiscal consolidation, current account improvements, and exchange rate stability.
Business
First in 60 years: Airbus board wraps-up meet in India; expansion in focus – The Times of India

Airbus’ board members completed their four-day visit to India on Thursday. India represents a crucial market for the aerospace company, as confirmed by an official, as quoted by PTI.The board conducted their first meeting in India since beginning operations here over 60 years ago during their visit, which commenced on September 29. They engaged in various activities during their stay.On Tuesday, Airbus board Chairman Rene Obermann had an meeting with Prime Minister Narendra Modi in the national capital, the official confirmed.The board visited manufacturing facilities of Tata Advanced Systems Ltd (TASL) in Hyderabad and their supplier Dynamatic Technologies in Bengaluru.The delegation also had sessions with Civil Aviation Minister K Rammohan Naidu and Commerce and Industry Minister Piyush Goyal.Goyal shared on X on Thursday about his discussions with Airbus board members, headed by Chairman Rene Obermann, regarding investments and related matters. “Also, encouraged their plans to further deepen collaboration and increase investments in India, a testament to the strength and potential of India’s aerospace sector,” he said.On September 30, Airbus and Air India revealed plans for a joint venture training centre in Haryana, investing over Rs 1,000 crore in simulators to train pilots for A320 and A350 aircraft.An Airbus spokesperson, quoted by PTI, stated on September 25 that the board’s visit represents a significant milestone, emphasising India’s importance as a critical hub for global operations. “We have already crossed the milestone of sourcing over $1.4 billion in components and services annually. We are on track to significantly increase that figure, as we continue to further integrate India into our global value chain,” the spokesperson said.The spokesperson noted Airbus’ expanding investments across India, from growing engineering and digital centres in Bengaluru to expanding industrial presence.Airbus maintains substantial involvement in India’s civil aviation and defence sectors, establishing two Final Assembly Lines: one for H125 helicopters and another for C295 military aircraft, both in partnership with TASL. The H125 FAL is under development in Vemagal, Karnataka, whilst the C295 FAL is being constructed in Vadodara, Gujarat.Additionally, IndiGo and Air India have collectively ordered more than 1,000 aircraft from Airbus.
Business
Mahindra Turns 80: A Journey From Willys Jeeps To Global Powerhouse

Mumbai: Mahindra & Mahindra Ltd. celebrated its 80th Founders’ Day on Thursday, honouring the vision of its founders, J.C. Mahindra and K.C. Mahindra. The company was established on October 2, 1945, the same day the world celebrates the birth anniversary of Mahatma Gandhi.
The story of Mahindra began even before India’s independence. In 1945, as the world emerged from war and uncertainty, the company placed an advertisement in a media outlet. Rather than promoting products, the ad made a call for enterprising individuals of all communities to join a new organisation grounded in courage, equality and opportunity.
Anand Mahindra, Chairman, Mahindra Group, said, “Eighty years ago, the Mahindra Group was born with a crystal-clear purpose: to help build our nascent nation. Our founders pledged to develop industry, create livelihoods, and enable communities to rise from the violent throes of the struggle for independence into a brighter future.”
He further said, “Today, we once again are in turbulent times, and we have the opportunity to renew that pledge to strive together to propel India towards technological self-reliance and global respect.”
Speaking on the occasion, Anish Shah, Group CEO & MD, Mahindra Group, said, “Our founders were ahead of their time. Their first ad did not talk about products or profits; it highlighted the “principles which will guide their activities”: entrepreneurship, integrity, diversity, and a fearless optimism about India’s future. Eighty years later, those principles continue to guide us as we innovate, empower communities, and drive positive change across the world.”
From assembling the first Willys jeeps in post-war India to becoming a global federation of companies spanning mobility, technology, finance, hospitality, and renewable energy, Mahindra has remained true to its founding purpose of “Rise” – the idea that Mahindra rises only when it helps others rise, according to the official statement.
Today, the Group operates in over 100 countries, working across mobility, technology, finance, hospitality, and renewable energy. It has been a strong supporter of sustainability, skilling, gender diversity, and rural prosperity, the statement read.
It further said, “As Mahindra enters its ninth decade, the Group continues to lead with purpose-driven growth, focusing on ensuring that the values of Mahindra’s founders are carried forward for generations to come.”
Business
Half of British adults gambled in last month – survey

Almost half of adults (48%) in Great Britain have gambled in the last four weeks, according to an annual survey by the industry regulator.
Some 2.7% of adults scored “8+” on the Problem Gambling Severity Index (PGSI) in 2024 – up from 2.5% the previous year – which is “statistically stable” compared to the year before, the Gambling Commission found.
The headline figure of those who gambled over the last month – which is the same as the previous year – falls to 28% when those who had only bought tickets for a lottery draw were excluded.
Overall, some 42% of adults who gambled in the past 12 months rated the last time they gambled positively, compared to 21% who rated it negatively.
The chance of winning “big money” was the main reason why people gambled (85%), followed by finding gambling to be fun (72%).
Andrew Rhodes, chief executive of the Gambling Commission, said: “The Gambling Survey for Great Britain is a key building block of the evidence base which helps government, industry and other partners understand both gambling behaviour and potential consequences from gambling.
“This year’s findings deepen our understanding of consequences from gambling and provide crucial insight into risk profiles among those who gamble most frequently. We strongly encourage operators to use this evidence to consider the risks within their own customer bases.
“Data and research, such as GSGB, is essential to helping us identify where our regulatory focus should be and informs our ongoing work to implement player protection recommendations from the Gambling Act Review White Paper.
“We have already introduced light-touch financial vulnerability checks on those spending £150 a month, reduced the intensity of all online games by banning autoplay and slowing game speed, and tightened age verification in premises.
“We’ve also banned potentially harmful marketing offers involving consumers having to carry out two or more types of gambling, such as betting and playing slots, and limited the number of times bonus funds must be re-staked before a consumer can withdraw winnings.
Will Prochaska, director of the Coalition to End Gambling Ads, said: “The Gambling Commission releases these statistics as if nothing is wrong. But there’s something very wrong when over a million people have a gambling problem and millions more are being harmed.
“Families up and down the country are being torn apart to deliver profits for big gambling corporations. If we’re serious about addressing this crisis, we must start by banning gambling advertising.”
A Betting and Gaming Council spokeswoman said: “More than 22 million adults in Britain enjoy a bet each month and as the Gambling Commission today shows, the vast majority of people do so without a problem.
“Our members take player protections incredibly seriously and have voluntarily contributed £170 million to research, education and treatment programmes over the past four years alone – in stark contrast to the illegal black market which has almost trebled in size since 2022 and actively targets vulnerable customers.
“The NHS APM Survey of June 2025 and the NHS health survey of 2021 both estimated problem gambling at 0.4% and the differences between this and the Gambling Commission’s rate appear to reflect different methodology rather than a rise in harm.”
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