Entertainment
Pakistan to receive $3bn additional support from Saudi Arabia: finance minister
- 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.
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.
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.
Usher and Chris Brown have officially revealed the dates for their highly anticipated co-headlining “R&B” stadium tour, set to sweep across North America starting this summer.
Named the “Raymond and Brown” trek, the massive 33-date journey will see the two icons share the stage from June through to the end of the year.
Fans eager to grab tickets should mark their calendars for the general sale, which kicks off on 27 April at 12 p.m. local time, following a series of presale events starting as early as 21 April.
The tour is scheduled to begin on 26 June at Empower Field at Mile High in Denver, before heading to major cities including Detroit, Nashville, and Washington, D.C.
Reflecting the scale of the event, the duo has booked double-date stints at several iconic venues, including MetLife Stadium in East Rutherford, Allegiant Stadium in Las Vegas, and SoFi Stadium in Los Angeles.
Appropriately, the tour will also stop for two nights in Usher’s home city at Atlanta’s Mercedes-Benz Stadium, before finally wrapping up on 11 December at the Raymond James Stadium in Tampa.
This blockbuster collaboration follows a string of individual successes for both artists.
Usher is coming straight off the back of his “Past, Present, Future” tour, which saw him performing throughout 2024 and 2025.
Meanwhile, Chris Brown is riding high from his “Breezy Bowl XX” world tour, which concluded last October and became his most successful commercial venture to date, raking in nearly $300 million.
By joining forces for the “R&B” tour, the pair are looking to dominate the stadium circuit for the remainder of 2026.
For those looking to secure seats early, a Citi presale is scheduled for 21 April, with a dedicated “R&B” tour presale following on 23 April.
Given the significant commercial momentum both stars are currently carrying, industry experts expect these shows to be among the hottest tickets of the year.
With a mix of career-spanning hits and a collaborative stage presence, the Raymond and Brown tour is shaping up to be a definitive moment for R&B music fans this season.
Check out the full dates for Usher and Chris Brown’s ‘R&B Tour’:
- Fri, Jun 26 | Denver, CO | Empower Field at Mile High
- Tue, Jun 30 | Minneapolis, MN | U.S. Bank Stadium
- Thu, Jul 2 | Detroit, MI | Ford Field
- Fri, Jul 3 | Detroit, MI | Ford Field
- Tue, Jul 7 | Cleveland, OH | Huntington Bank Field
- Fri, Jul 10 | Washington, DC | Northwest Stadium
- Sat, Jul 11 | Washington, DC | Northwest Stadium
- Fri, Jul 17 | Charlotte, NC | Bank of America Stadium
- Tue, Jul 21 | St. Louis, MO | The Dome at America’s Center
- Sat, Jul 25 | Nashville, TN | Nissan Stadium
- Tue, Jul 28 | Birmingham, AL | Protective Stadium
- Sat, Aug 1 | Syracuse, NY | JMA Wireless Dome
- Fri, Aug 7 | East Rutherford, NJ | MetLife Stadium
- Sat, Aug 8 | East Rutherford, NJ | MetLife Stadium
- Tue, Aug 11 | Toronto, ON | Rogers Stadium
- Wed, Aug 12 | Toronto, ON | Rogers Stadium
- Mon, Aug 17 | Boston, MA | Gillette Stadium
- Fri, Aug 21 | Chicago, IL | Soldier Field
- Fri, Aug 28 | San Francisco, CA | Levi’s Stadium
- Sat, Sep 5 | Las Vegas, NV | Allegiant Stadium
- Sun, Sep 6 | Las Vegas, NV | Allegiant Stadium
- Thu, Sep 10 | Dallas, TX | AT&T Stadium
- Fri, Sep 25 | Los Angeles, CA | SoFi Stadium
- Sat, Sep 26 | Los Angeles, CA | SoFi Stadium
- Tue, Sep 29 | Glendale, AZ | State Farm Stadium
- Sat, Oct 3 | El Paso, TX | Sun Bowl Stadium
- Mon, Oct 5 | San Antonio, TX | Alamodome
- Fri, Oct 9 | Houston, TX | NRG Stadium
- Sat, Nov 7 | Atlanta, GA | Mercedes-Benz Stadium
- Sun, Nov 8 | Atlanta, GA | Mercedes-Benz Stadium
- Fri, Nov 20 | New Orleans, LA | Caesars Superdome
- Thu, Dec 3 | Miami, FL | Hard Rock Stadium
- Fri, Dec 11 | Tampa, FL | Raymond James Stadium
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