New Zealand and the United Arab Emirates (UAE) will commence negotiations on a free trade agreement, a statement of the New Zealand government has said. New Zealand Minister for Trade Todd McClay met with his counterpart UAE Trade Minister Thani bin Ahmed Al Zeyoudi in Dubai on the launch of negot
Oil edged up on Tuesday after Israel struck Rafah in Gaza and talks for a ceasefire hung in the balance, maintaining the support that the market has gained from heightened Middle East tensions and risk to supplies. Palestinian militant group Hamas on Monday agreed to a Gaza ceasefire proposal from
Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil producing region. Brent crude futures gained 34 cents, or 0.4 per cent, to
Saudi Arabia has announced a budget deficit of 12.39 billion Saudi Riyals (3.30 billion US dollars) in the first quarter of 2024. The quarterly budget performance report, released by the Saudi Ministry of Finance on Sunday, revealed that revenues reached 293.43 billion Saudi Riyals and expenditure
An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, the lender said on Sunday ahead of Islamabad beginning its annual budget-making process for the next financial year. Pakistan last month completed a short-term $3 billion programme, which he
Asian Development Bank (ADB) President Masatsugu Asakawa has said the bank aims to support the region’s poorest and most vulnerable countries until 2028. "We will finalise the fourteenth replenishment of the Asian Development Fund [ADF]. This will allow us to support the region’s poore
The board of governors of the Asian Development Bank (ADB) has approved a $1.42 billion net income allocation from its ordinary capital resources, the highest in the bank’s history. The board also approved the bank’s 2023 financial statements on Sunday, reports UNB. The 2023 net
The Cuban government has announced that it will adopt a visa-free policy for Chinese citizens holding ordinary passports, starting this month. The announcement was made by Tourism Minister Juan Carlos Garcia on Saturday during the 42nd Cuban International Tourism Fair, which was held in the seasid
Oil prices rose on Thursday, rebounding from three days of losses, on expectations the lower levels may prompt the US, the world's biggest crude consumer, to start replenishing its strategic reserve, putting a floor under prices. Still, prices fell more than 3 per cent on Wednesday to a seven-week
The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme. The funding was the second and final tranche of Pakistan's $3.0 billion standby
India’s imports from China crossed $101 billion in 2023-24 from about $70 billion in 2018-19, and the country’s share of India’s industrial goods imports has risen from 21% to 30% over 15 years, reports the Hindu citing Global Trade Research Initiative (GTRI) which reckons that Ch
The Asian Development Bank (ADB) committed $23.6 billion from its own resources in 2023 to help Asia and the Pacific progress on sustainable development. The figure includes $9.8 billion for climate action, according to ADB's Annual Report 2023 published on Sunday. The $23.6 billion comprised loa
The Japanese yen jumped suddenly against the dollar on Monday, with traders on high alert for signs of intervention by Japanese authorities to boost the currency that is languishing near 34-year lows. The dollar fell sharply to 156.55 yen from as high as 160.245, and it was not immediately clear w
