Pakistan has signed an agreement with the Saudi Fund for Development (SFD) to defer a $1.2 billion payment for oil imports by one year. The deal, signed in Islamabad, comes as Pakistan seeks economic relief while strengthening ties with Saudi Arabia.
Pakistan and Saudi Arabia signed an agreement on Monday to defer a $1.2 billion oil payment for one year, providing economic relief to Islamabad’s struggling economy.
The Saudi Fund for Development (SFD) delegation, led by CEO Sultan Bin Abdul Rehman Al Murshad, met with Prime Minister Shehbaz Sharif to finalize the deal. The agreement allows Pakistan to receive Saudi oil on a deferred payment basis, easing pressure on foreign exchange reserves.
Prime Minister Shehbaz Sharif welcomed the oil import financing facility, emphasizing Saudi Arabia’s continued support for Pakistan’s financial stability.
In addition to the oil deferral, the Saudi Fund will provide $41 million for a water supply project in northwest Pakistan, aiming to improve access to clean drinking water for 150,000 people.
The agreement marks another step in Pakistan’s economic cooperation with Saudi Arabia, as the country continues efforts to stabilize its economy and address financial challenges.
Germany’s military planners warn that cyberattacks, sabotage, and disinformation could signal the start of a new war, according to a confidential go...
Protests in Iran over soaring prices and a plunging rial have spread to universities in Tehran, as students join shopkeepers and bazaar merchants in d...
Organisers in New York have successfully completed a test run of the Times Square New Year’s Eve crystal ball, less than 48 hours before the annual ...
Bulgaria is preparing to replace its national currency, the lev, with the euro on 1 January, a long-awaited move welcomed by businesses but viewed wit...
Iran has declared the Royal Canadian Navy a terrorist organisation in response to Canada’s decision to blacklist the Islamic Revolutionary Guard Cor...
Germany’s military planners warn that cyberattacks, sabotage, and disinformation could signal the start of a new war, according to a confidential government document seen by Politico. The plan outlines how Germany would defend itself in a major NATO conflict.
Organisers in New York have successfully completed a test run of the Times Square New Year’s Eve crystal ball, less than 48 hours before the annual countdown celebration.
Bulgaria is preparing to replace its national currency, the lev, with the euro on 1 January, a long-awaited move welcomed by businesses but viewed with scepticism and anger by some citizens.
Poland has asked the European Commission to investigate TikTok after artificial intelligence-generated content calling for the country to leave the European Union appeared on the platform, which Warsaw says was likely Russian disinformation.
Roman Abramovich, the Russian billionaire and former Chelsea Football Club owner, has assembled a “top tier” legal team, including a former White House advisor, as he prepares for a legal battle in Jersey.
Protests in Iran over soaring prices and a plunging rial have spread to universities in Tehran, as students join shopkeepers and bazaar merchants in demanding government action. With inflation above 42% and the rial at record lows, unrest continues to grow across the country.
Venezuelan President Nicolás Maduro on Sunday praised the country’s armed forces as “invincible warriors” during a year-end ceremony honouring the Bolivarian National Armed Forces, held in the coastal city of La Guaira.
Moldova has officially notified Russia that the Russian Cultural Centre in Chișinău will be closed, with the institution expected to cease operations within six months, Moldovan authorities said.
The head of Yemen’s Presidential Council, Rashad al-Alimi, has ordered all forces linked to the United Arab Emirates to leave Yemen within 24 hours.
Germany’s military planners warn that cyberattacks, sabotage, and disinformation could signal the start of a new war, according to a confidential government document seen by Politico. The plan outlines how Germany would defend itself in a major NATO conflict.
Organisers in New York have successfully completed a test run of the Times Square New Year’s Eve crystal ball, less than 48 hours before the annual countdown celebration.
Bulgaria is preparing to replace its national currency, the lev, with the euro on 1 January, a long-awaited move welcomed by businesses but viewed with scepticism and anger by some citizens.
European leaders held talks on Ukraine after Russia said it would revise its negotiating position, citing an alleged Ukrainian drone attack that Kyiv has firmly denied.
Thieves exploited the Christmas holiday closure to drill into a German bank vault, stealing at least €10 million in cash and valuables from customers’ deposit boxes, police said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment