Pakistan is set to secure around $6 billion over the next three years in a bailout from the International Monetary Fund (IMF).
It's the 13th bailout since the late 1980s that the country has received from the IMF.
"Pakistan is facing a challenging economic environment, with lackluster growth, elevated inflation, high indebtedness, and a weak external position," IMF representative Ernesto Ramirez Rigo said.
The funding still needs approval from the IMF's management.
UAE announces decision to withdraw from OPEC and OPEC+
The United Arab Emirates announced on Tuesday its decision to exit the Organisation of the Petroleum Exporting Countries (OPEC and OPEC+), effective 1 May 2026.
Microsoft, OpenAI change terms of deal so startup can court Amazon, others
Microsoft and OpenAI have renegotiated a pact that let Microsoft exclusively sell the ChatGPT creator's artificial intelligence models, clearing the way for the startup to forge new deals with rivals to the software and enterprise giant, including Amazon.
UAE tops global entrepreneurship rankings for 5th straight year
The UAE has been ranked first globally for the fifth consecutive year in the latest Global Entrepreneurship Monitor (GEM) report.
US judge dismisses Musk's fraud claims in OpenAI case
A US judge on Friday dismissed Elon Musk's fraud claims in his lawsuit accusing OpenAI and co-founder Sam Altman of betraying OpenAI's original mission, but plans to proceed to trial on Musk's breach-of-charitable-trust and unjust-enrichment claims.
Dubai South partners with Emirates NBD to support business community
Dubai South has signed a strategic Memorandum of Understanding (MoU) with Emirates NBD to support the financial growth of SMEs and facilitate access to a range of banking services.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
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