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ITFC gives $761m to Pakistan for energy imports

The International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank, and Pakistan signed an agreement under which the former would make available $761.5 million of syndicated loan for commodity financing, particularly oil and gas. A financing agreement was formally signed by ITFC’s Chief Executive Officer Eng. Hani Salem Sonbol and Mian […]

Punjab signs 17 deals in Dubai to attract UAE investments

The memorandum of understandings (MoUs) were signed at the Punjab International Business Conference in Dubai with the UAE and Pakistani groups to invest in special economic zones and industrial cities across the provinceThe Pakistani Punjab on Sunday signed 17 deals worth more than $1 billion to attract foreign investment, build infrastructure and promote hospitality and […]

Pakistan elected head of G77 at UN

Pakistan has been elected the next chair of the ‘Group of 77’, which is the largest intergovernmental grouping of developing countries in the United Nations. Foreign Minister Shah Mahmood Qureshi addressed the meeting and thanked the 134 members of G77 and China for reposing their trust in Pakistan to lead the group in 2022. He […]