Pakistan Budget Aims to Shift Economy from Stability to Growth
Finance Minister Muhammad Aurangzeb says the new budget focuses on moving the economy from stabilization to growth through tax relief and export incentives.
Category : Business
Saudi Dates at New York Fancy Food Show
Saudi Arabia will be guest of honor at the Fancy Food Show in New York, showcasing premium dates to boost exports. The Kingdom has 37 million palm trees and exported dates worth SR2 billion last year.
Buraidah Summer Festival Starts June 25, Offers 500+ Jobs
The Buraidah Summer Festival begins June 25 at King Abdullah National Park, featuring 100+ activities, 500+ seasonal jobs, and support for local businesses.
Pakistan to Use Provincial Funds as Defense Spending Rises
Pakistan plans to tap provincial funds for defense over three years, with defense spending rising 18% to $10.8 billion in the new budget amid regional tensions.
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PDMA Warns of Glacial Lake Floods in NW Pakistan
PDMA warns of glacial lake outburst floods and flash flooding in Khyber Pakhtunkhwa due to rising temperatures and untimely rains, urging precautions.
Rheinmetall CEO Warns France Could Exit Tank Project MGCS
Rheinmetall CEO Armin Papperger says France may leave the MGCS tank project due to budget cuts, threatening Franco-German defense cooperation.
Masam Project Destroys 1,354 Landmines in Yemen
Masam project teams, with the Executive Mine Action Center, destroyed 1,354 landmines and war remnants in Hadramout, including shells, grenades, and ammunition.
Jacobabad bakes in 48°C heat as residents cry for water
Jacobabad, one of the world's hottest cities, endures 48°C with no relief measures. Residents report no water, dried ponds, and deserted streets.
Iran War Strains African Airlines, AFRAA Warns
The Iran war drives up jet fuel prices, straining African airlines. AFRAA warns of severe impact on connectivity and profitability.
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Saudi Farmer's Orchard Grows to 1,700 Mango Trees
From teacher to farmer, Abdullah Al-Nashiri overcame drought and setbacks to build a thriving orchard of 1,700 mango trees in Saudi Arabia, supported by local festivals and authorities.
MENA Startup Funding Surges 202% to $454.7M in May
MENA startups raised $454.7M in May 2026, a 202% monthly increase. Debt financing dominated, with logistics and fintech leading. Saudi Arabia saw $70M across 11 deals.
Pakistani Business Leaders Hail Budget Tax Relief to Boost Growth
Pakistani business leaders say the 2026-27 budget tax relief measures could help achieve 4% growth and boost exports, provided energy prices become competitive.
Middle East Fuel Crisis Strands Mozambique Fishermen
Mozambique fishermen stranded as fuel prices surge due to Middle East conflict, with diesel up 46% and petrol up 12%, worsening poverty.
Cyberattack Hits Four Iranian Banks, No Data Stolen
A cyberattack disrupted services at four major Iranian banks, but no customer data was compromised, the banking coordination council said, according to state media.
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Saudi housing demand robust despite Q1 conflict impact
Knight Frank reports Saudi housing demand remains strong despite a 50% drop in Q1 transactions due to the Iran war, supported by population growth and government initiatives.
Kingdom Holding SpaceX Stake Surges 53% to $6.8bn
Kingdom Holding's stake in SpaceX jumped to $6.83 billion after the company's IPO, with shares closing at $160.95 on the first day, yielding an unrealized gain of $2.36 billion.
Saudi Arabia Tops Global Desalination with 16M Cubic Meters Daily
Saudi Arabia maintains its position as the world's largest desalinated water producer, with daily capacity exceeding 16 million cubic meters by end of 2025, a 247.8% increase since 2016.
Moody's Affirms UAE Aa2 Rating Despite 7% Contraction
Moody's Ratings affirmed UAE's Aa2 sovereign rating with stable outlook, citing financial buffers and diversification, despite forecast 7% GDP contraction in 2026 due to Hormuz disruption.
Pakistan Budget Offers Relief but Faces IMF Revenue Test
Pakistan's FY26-27 budget provides relief to workers and businesses, but revenue mobilization under IMF benchmarks remains challenging, warns a brokerage report.
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Pakistan Ends Tax on Sanitary Products, Contraceptives
Pakistan's government removes sales tax on women's hygiene products and contraceptives, reducing from 18% to 0%, hailed as a relief measure for millions.
Oman Real Estate Price Index Surges 15.9% in Q1 2026
Oman's real estate price index rose 15.9% year-on-year in Q1 2026, driven by residential land and industrial property gains, according to official data.
Madinah Date Market Sees Early Rutab Surge
Madinah's date market is bustling with early rutab arrivals from Wadi Al-Safra. Supplies are rising, with Rotana variety expected by end of June, driving strong local and export demand.
Pakistan Offloads Passenger Over Fake Documents to Saudi Arabia
Pakistan's FIA offloaded a passenger at Karachi airport for attempting to travel to Saudi Arabia with forged documents, including a fake driving license and visa.
Saudi Tadawul Index Rises 0.57% to 11,104 Points
Saudi Arabia's Tadawul All Share Index gained 62.40 points to close at 11,104.42, with 199 stocks advancing and trading turnover reaching SR4.28 billion.
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Pakistan Allocates $8.6 Million for Climate Resilience Projects
Pakistan's climate ministry secures Rs2.4 billion for flood, drought, and climate disaster resilience under PSDP 2026-27, funding four key projects including forest restoration and green skills.
Syria Seizes 800,000 Captagon Pills in Two Provinces
Syrian authorities seized 800,000 captagon pills and 60 kg of cannabis in Homs and Deir Ezzor, arresting members of a cross-border drug gang in coordination with Iraq.
PM Shehbaz Orders Fast-Track 100 MW Solar Project in GB
Prime Minister Shehbaz Sharif has ordered authorities to accelerate the 100 MW solar power project in Gilgit-Baltistan, with federal funding and third-party validation for transparency.
Pakistan Agriculture at Critical Crossroads: Economic Survey 2025-26
The Pakistan Economic Survey 2025-26 reveals agriculture growing only 0.56%, with major crops declining 13.5%, highlighting water scarcity, climate change, and rising costs as key threats.
Islamic Banking in Pakistan: Beyond Symbolism to Economic Justice
Islamic banking in Pakistan has grown to Rs14.5 trillion, but its focus on government debt over private enterprise raises questions about fulfilling Islamic economic goals of justice and shared prosperity.
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PSX Surges Over 3,100 Points in Record-Breaking Rally
The Pakistan Stock Exchange extended its record rally, gaining 3,109 points to 180,149, driven by economic confidence, regional peace hopes, and lower oil prices.
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