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Emirates has been serving Malta since 2003 and currently operates a daily flight using a Boeing 777-300EREmirates announced today that it signed a memorandum of understanding with the Malta Tourism Authority to enhance inbound tourism through collaborative marketing efforts. Under this strategic alliance, the airline will leverage its expansive global network to promote Malta as a premier leisure destination.Key initiatives will include organizing media familiarisation trips from key target markets to showcase Malta’s unique appeal as a Mediterranean gateway. The two entities will also explore joint advertising campaigns and collaborations with tour operators and travel agents to develop compelling promotional…

A delay in the audit process of state institutions has worried the International Monetary Fund (IMF), Auditor General of Pakistan (AGP) Ajmal Gondal told a meeting of the Publics Account Committee (PAC) on Wednesday. The development comes as discussions began this week between the IMF and Pakistan for the first biannual review of the $7 billion Extended Fund Facility to address governance and corruption vulnerabilities. While addressing today’s meeting, AGP Gondal disclosed that the IMF had expressed its concerns over nearly 600,000 pending audit paras. “The IMF has demanded early settlement of audit cases of institutions,” Gondal said, adding that…

Pakistan is “likely to pass” the ongoing first review of its $7 billion Extended Fund Facility (EFF) programme with the International Monetary Fund (IMF), Bloomberg reported citing officials and diplomats familiar with the matter. The report said that the country has made enough progress to raise revenue. As per the report, Pakistan has taken key steps, including “approved a law to tax agricultural income, attempted to sell a stake in state-owned Pakistan International Airlines (PIA) and taken steps to meet an ambitious tax target, and have presented these developments to the IMF”. It noted that the IMF office in Islamabad…

As Pakistan moves toward formalizing its stance on cryptocurrency, the government has appointed Bilal bin Saqib as the Chief Advisor to the Finance Minister for the Pakistan Crypto Council. The move comes as Pakistan seeks to reaffirm its commitment to embracing technological advancement while ensuring sound policy measures that support the national economy, digital transformation, and a secure, transparent financial system for all, read a statement released by the Finance Division on Wednesday. As per the statement, Saqib, recognized by Forbes, is a Web3 investor, strategic advisor, and thought leader in the blockchain space is also the recipient of the…

U.S. Treasury yields were higher on Wednesday as investors considered the impact of President Donald Trump’s tariffs on Canada, Mexico, and China.At 4:55 a.m. ET, the benchmark 10-year Treasury yield rose more than three basis points to 4.242%. The 2-year Treasury yield rose more than two basis points to 3.982%.One basis point is equal to 0.01% and yields and prices have an inverted relationship.Investors are concerned about the potential impact of Trump’s tariffs after 25% duties on imports from Canada and Mexico came into effect on Tuesday. The president also imposed an additional 10% tariff on goods from China.Canada, Mexico, and China have responded…

China has signalled its plans to up the ante in its fight to stamp out the excessive, cutthroat competition plaguing its economy, with the issue becoming a focus at one of the country’s most important political events of the year.Premier Li Qiang vowed to launch a “comprehensive crackdown on neijuan” during his work report to the National People’s Congress on Wednesday – the first time the premier has mentioned the concept in his agenda-setting annual address.The term neijuan, or “involutionary competition”, refers to a self-defeating cycle of excessive competition in which companies are forced to invest ever greater resources without…

The Chinese Embassy in the United States said on Wednesday that it was “ready to fight till the end” with the US in its trade war. Major Asian markets traded up on Wednesday, reversing their losses a day after US President Donald Trump imposed more blanket tariffs on Chinese imports following a similar move last month. US tariffs are expected to hit hundreds of billions of dollars in total trade between the world’s two largest economies. Chinese exports have also reached record levels last year. “If war is what the US wants, be it a tariff war, a trade war…

Deputy Prime Minister Ishaq Dar and United Arab Emirates (UAE) Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan on Wednesday reaffirmed their countries’ commitment to enhancing bilateral cooperation across all sectors. Pakistan and the UAE share close diplomatic, economic, and cultural ties, strengthened by historical connections and a large Pakistani expatriate community in the Emirates. The UAE is also one of Pakistan’s largest trading partners in the Middle East and a major source of remittances, with thousands of Pakistanis working in various sectors. Both countries collaborate on defence, energy, and investment projects, with the UAE frequently providing financial aid and…

The Japanese yen dropped in Asian trade on Wednesday on track for the second straight loss against the dollar, moving away from five-month highs on profit-taking.   Recent bullish remarks from some Bank of Japan officials hurt the odds of a Japanese rate hike in March as markets now await more data.   The yen is also pressured by higher US 10-year treasury yields before a series of important US labor data.   The Price   The USD/JPY pair rose 0.25% today to 150.18 yen per dollar, with a session-low at 149.57.   The yen lost 0.2% on Tuesday against…

Narowal Energy Limited (NEL), a wholly owned subsidiary of the Hub Power Company Limited (HUBCO), has formally executed the Amendment Agreement reached with the government last month. The development was disclosed by HUBCO, Pakistan’s largest Independent Power Producer (IPP), in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. “Upon the request of the task force constituted under the Prime Minister’s Office, to revise the tariff and to convert the existing tariff to ‘Hybrid Take and Pay’ model, Narowal Energy Limited (NEL), a wholly owned subsidiary of the HUBCO, has executed an Amendment Agreement dated February 14, 2025 with…