Business
SBP reserves decline for third consecutive week – SUCH TV
The State Bank of Pakistan’s (SBP) foreign exchange reserves declined for the third week in a row, dropping by $72 million in the week ending August 1, bringing the total down to $14.232 billion.
Since July 11, the central bank has seen a cumulative decrease of $294 million, partially eroding the gains achieved by the close of the previous fiscal year.
At the end of FY25, SBP had built up reserves to $14.5 billion—exceeding targets set under the IMF programme, a development hailed as a significant policy achievement.
However, sustaining that level has become increasingly difficult due to continued pressure from external debt repayments.
The SBP cited scheduled debt servicing as the primary reason for the latest dip in reserves.
Pakistan’s external debt servicing remains a major strain on the economy, with around $26bn paid in FY25 and a similar amount projected for FY26.
These payments continue to exert downward pressure on the country’s foreign currency buffers.
According to SBP data, the country’s total liquid foreign reserves stood at $19.495bn as of Aug 1, which includes $5.263bn held by commercial banks.
Business
Ryanair flight from Milan to Manchester leaves passengers behind due to border delays
New European border rules have caused delays at airports across the continent, affecting flights.
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Business
‘A win-win for both nations!’ Three-day India-US trade talks to begin this week – The Times of India
India and the United States are set to resume trade talks this week, taking a “great step to finalize” the proposed agreement. Taking to social media platform X, US Ambassador to India Sergio Gor said “The Indian trade delegation will be arriving in Washington this week. A great step to finalize our bilateral trade deal. A win-win for both nations!”This week, a delegation of around a dozen officials will be travelling from New Delhi to Washington for discussions on the first phase of the proposed bilateral trade agreement (BTA). The talks are scheduled from April 20 to 22 and will be led by India’s chief negotiator Darpan Jain, additional secretary in the department of commerce. The team will also include officials from the customs department and the ministry of external affairs.The negotiations come against the backdrop of recent changes in the US tariff system, prompting both sides to revisit parts of the trade agreement finalised earlier this year and released on February 7.A key development was the US Supreme Court striking down reciprocal tariffs imposed under the 1977 International Emergency Economic Powers Act. Following this, the US administration introduced a temporary flat 10% tariff on all countries for 150 days from February 24.These changes led to the postponement of a planned February meeting between the chief negotiators. The rescheduled talks in Washington will now proceed under the revised tariff framework.Alongside tariff issues, the discussions are also expected to cover two investigations initiated by the US Trade Representative under Section 301 of its trade law. India has refuted the allegations and is seeking withdrawal of the probes, arguing that the initiation notices do not provide adequate justification.
Business
Oil prices jump after Trump says Iranian ship seized
Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February.
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