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WASHINGTON: Pakistan is poised to sign a preliminary deal on a review of its loan programme with the International Monetary Fund this week, the country’s finance minister said, a key step required to pave the way for another $1.24 billion payout from the lender. An IMF mission left Pakistan last week without signing a so-called staff level agreement on the second review of the Washington-based lender’s $7 billion Extended Fund Facility and the first one on its $1.4 billion Resilience and Sustainability Facility agreed in 2024 to shore up the economy after a severe financial crisis. “The mission was on…

Pony.ai and WeRide, two leading robotaxi operators in mainland China, have taken their first steps towards share offerings on the Hong Kong stock exchange by filing fundraising plans with the securities regulator.They will join a clutch of mainland companies seeking to tap global investors’ growing interest in China’s electric vehicle (EV) industry as the key players accelerate their global expansion plans.According to documents published by the China Securities Regulatory Commission on Tuesday, the two companies – both listed on the Nasdaq – have passed through the required registration procedure and are allowed to float new shares in Hong Kong within…

Pony.ai and WeRide, two leading robotaxi operators in mainland China, have taken their first steps towards share offerings on the Hong Kong stock exchange by filing fundraising plans with the securities regulator.They will join a clutch of mainland companies seeking to tap global investors’ growing interest in China’s electric vehicle (EV) industry as the key players accelerate their global expansion plans.According to documents published by the China Securities Regulatory Commission on Tuesday, the two companies – both listed on the Nasdaq – have passed through the required registration procedure and are allowed to float new shares in Hong Kong within…

The U.S. dollar’s sharp rally over the past month is unlikely to last, as analysts view it as driven largely by temporary factors — notably the suspension of U.S. economic data releases due to the federal government shutdown and political turmoil in rival economies.   The greenback has risen about 3% against a basket of major currencies since mid-September, recovering part of its 11% loss earlier this year and moving away from its lowest level in more than three years.   Data from the U.S. Commodity Futures Trading Commission (CFTC) — before publication was halted by the shutdown — showed…

Wells Fargo CEO Charlie Scharf speaks during in interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 4, 2025. Brendan McDermid | ReutersMy top 10 things to watch Tuesday, Oct. 141. Stocks looked to open lower this morning as the U.S.-China trade war appeared to heat back up. The day seems to be controlled by a collapse in crypto and more speculative names. The selling comes after a one-day bounce on Monday that sent the S&P 500 and Dow up 1% after President Donald Trump posted to Truth Social: “Don’t…

Apple CEO Tim Cook’s latest visit to China this year turned out to herald the launch of the iPhone Air on the mainland, as the country’s three major telecommunications network operators start commercial trials of the eSIM function on smartphones.According to Apple’s China website, iPhone Air pre-orders would start at 9am on Friday, while shipments would begin next Wednesday – about a month later than the rest of the world, owing to regulatory restrictions regarding eSIM technology on smartphones. Prices for the iPhone Air start at 7,999 yuan (US$1,122).Regulatory support for eSIM on smartphones marks a milestone for China’s smartphone…

European Union ministers have urged Brussels to take a “tough” response to China’s latest restrictions on rare earth exports.He added that he had received “a lot of concerned calls from European industry, especially car companies”.Last week, Beijing announced further controls that meant products with small traces of rare earths as well as processing equipment would need a licence.The latest curbs were widely believed to be designed to give Chinese President Xi Jinping leverage against his US counterpart Donald Trump should the pair meet in South Korea at the end of the month, but European firms fear they will be caught…

The Pentagon’s coming defence strategy report will contain major changes in the US’ plans to counter China’s military and economic strength, according to Chinese defence researchers.The new National Defence Strategy, a road map of defence priorities for each US president’s term, is expected to be released in the coming weeks.According to a Defence Department memo in May, the report will “prioritise defence of the US homeland, including America’s skies and borders, and deterring China in the Indo-Pacific”.US news outlet Politico reported last month that, in the new document, the US would prioritise homeland security over perceived threatens from China and…

A viral hot mic moment in which Indonesia’s President Prabowo Subianto was heard asking US President Donald Trump if he could meet his son Eric shortly after the Gaza ceasefire summit in Egypt has raised questions about Jakarta’s diplomatic strategy and whether the move was tied to any business agenda.The offhand exchange, however, is not expected to have much political bearing in Indonesia as observers note Prabowo enjoys strong support back home.The brief conversation between the two leaders, captured after a press conference at the Sharm el-Sheikh peace summit on Monday, took place as Trump stepped offstage after delivering remarks…

Pakistan Petroleum Limited (PPL), a major energy company in the country, has announced a strategic partnership with Turkish Petroleum Overseas Company (TPOC), a subsidiary of Turkiye’s national oil company TPAO, under the farm-out process of the Eastern Offshore Indus C Block. The partnership is aimed at boosting offshore exploration and strengthening Pakistan-Turkiye energy cooperation, PPL said in its filing to the Pakistan Stock Exchange (PSX) on Tuesday. “PPL is pleased to announce a major milestone in the farm-out process of the Eastern Offshore Indus C Block, marking the beginning of a strategic collaboration with TPOC, a wholly owned subsidiary of…