Daily brief
The International Monetary Fund has cut its global growth forecast to 3.1%, warning that the Middle East conflict poses a significant risk to the world economy. The IMF stated that an escalation involving Iran and a potential closure of the Strait of Hormuz could trigger market turmoil and higher inflation. It specifically reduced growth estimates for the Middle East and emerging economies due to the war.
Pakistan's Finance Minister Aurangzeb says 'all options are on the table' to replace a $3.5 billion loan from the UAE, including the possibility of establishing a strategic fuel reserve.
Pakistan has selected a Citibank-led consortium as the top bidder to advise on the privatization of the Roosevelt Hotel in New York.
The Securities and Exchange Commission of Pakistan has granted a Buy Now Pay Later license to Alibaba-owned Koko Tech Pakistan.
The Pakistani government has announced more than two hours of daily loadshedding due to fuel constraints, though K-Electric and Hesco are excluded from the plan.