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Articles for tag: Foreign Exchange, FY2026, Gulf, Pakistan, remittances, Saudi Arabia, SBP, UAE, Workers

Pakistan Remittances Top $38 Billion in FY26, on Track for Record $41 Billion as Saudi Deposit Offsets UAE Pressure

Pakistan received a record $4.3 billion in remittances in May 2026, pushing cumulative inflows for the fiscal year past $38 billion with one month remaining — putting FY2026 on course for a record $41 billion. The milestone comes as Saudi Arabia extended a $5 billion deposit to the SBP, partially offsetting Abu Dhabi's demand for repayment of a $3.5 billion facility.

FO Rejects ‘Misleading, Unfounded’ Commentary on Financial Deposits from UAE

The Foreign Office (FO) on Saturday dismissed “misleading and unfounded commentary” regarding financial deposits from the United Arab Emirates (UAE), describing the matter as a “routine transaction”. A senior Pakistani official had stated on Friday that the country had decided to return $3.5 billion in debt to the UAE before the end of this month. According to the official, Abu Dhabi had requested the immediate return of the amount. These funds formed part of the external financing support provided by the UAE in 2019 to help stabilise Pakistan’s balance of payments. In a statement, FO Spokesperson Tahir Andrabi said, “The

December 31, 2025

News Desk

UAE announces withdrawal of forces from Yemen amid tension with Saudi Arabia

Smoke rises after a Saudi-led coalition airstrike on Yemen’s southern port of Mukalla, in this scenario from a video obtained by Reuters on December 30, 2025. — Reuters The UAE Ministry of Defense announces the move on X post. The UAE ministry says it had limited forces in Yemen. It says the decision was made after a comprehensive assessment. The United Arab Emirates’ Ministry of Defense announced on Tuesday that it had voluntarily ended the mission of its anti-terrorist units in Yemen, according to the state news agency. WAM was mentioned. It said the decision was taken after a comprehensive

December 30, 2025

News Desk

Saudi calls national security red line, urges UAE to pull out of Yemen

Yemeni council chief Alimi has canceled a defense pact with the United Arab Emirates, accusing it of supporting STC unrest FILE PHOTO: Security forces loyal to the separatist Southern Transitional Council hold weapons while standing on the back of vehicles as they are deployed in the southern port city of Aden, Yemen, December 20, 2020. PHOTO: REUTERS Saudi Arabia said on Tuesday that its national security was a red line and backed a call for United Arab Emirates forces to leave Yemen within 24 hours, shortly after a Saudi-led coalition airstrike on the southern Yemeni port of Mukalla. The warning

December 30, 2025

News Desk

یو اے ای نے یمن سے متعلق سعودی عرب کے بیان کو مایوس کن قرار دیدیا

متحدہ عرب امارات (یو اے ای) نے یمن سے متعلق سعودی عرب کے بیان کو مایوس کن قرار دیا ہے۔ سعودی عرب کے بیان پر یو اے ای نے ردعمل دیا اور کہا کہ یمن سے متعلق سعودی عرب کے بیان سے مایوسی ہوئی ہے۔  سعودی اتحادی فورسز کا یمن میں حملہ حیران کُن تھا۔ یو اے ای نے کہا کہ یمن سے متعلقہ تمام الزامات کو مسترد کرتے ہیں، مکلا بندرگاہ پر لنگر انداز ہونے والے جہازوں پر کوئی اسلحہ نہیں تھا۔ جہاز کسی یمنی گروپ کے لیے نہیں اماراتی فورسز کے لیے تھے۔ یو اے ای نے یہ بھی

December 30, 2025

News Desk

Saudi Arabia says national security is red line as UAE forces asked to leave Yemen

Forces from Yemen’s Southern Transitional Council arrive at a mountainous area where they are starting a military operation in southern Abyan province, Yemen, December 15, 2025. — Reuters Raids by the Saudi-led coalition Yemen’s southern port of Mukalla. UAE-backed STC to undermine the state of: Yemen presidential council. KSA urges the UAE to comply with Yemen’s request to leave the country. Saudi Arabia said on Tuesday its national security was a red line and backed a call for UAE forces to leave Yemen within 24 hours, hours after the Saudi-led coalition carried out an airstrike on the southern Yemeni port

December 29, 2025

News Desk

PSX sets record on UAE investment optimism

A stockbroker watches stock prices during a session at the Pakistan Stock Exchange (PSX) in Karachi, January 21, 2025. — INP The stock market rose on Monday as optimism over a future United Arab Emirates (UAE) investment in the Fauji Foundation, with a $1 billion debt settlement, boosted risk appetite and sent the stock market to a new all-time intraday high. The benchmark Pakistan Stock Exchange (PSX) KSE-100 climbed to an intraday high of 174,411.72, gaining 2,010.99 points or 1.17% and settled at a low of 173,200.41, reflecting a gain of 799.68% or 799.68%. “The bullish activity was seen as

December 26, 2025

News Desk

UAE targets online predators and data abuse with child digital safety legislation

The UAE flag flies over a boat in Dubai Marina, Dubai, United Arab Emirates, May 22, 2015. — Reuters DUBAI: The United Arab Emirates (UAE) has introduced a new federal law aimed at protecting children from online predators, data abuse and harmful digital practices, signaling a tougher global approach to child safety in the digital age. The legislation seeks to prevent strangers from anywhere in the world from accessing, monitoring or interacting with children online, particularly through the collection and use of personal data such as a child’s interests, online behavior and abilities. According to the legislative decree, digital platforms

December 25, 2025

News Desk

UAE, Saudi Arabia seek more than 1.5 million workers despite rise in artificial intelligence

Workers work near the Burj Khalifa, the world’s tallest tower, in Dubai on May 9, 2013. — Reuters DUBAI: The booming labor markets of the United Arab Emirates and Saudi Arabia are expected to create demand for more than 1.5 million additional workers by 2030, despite the rapid growth of artificial intelligence (AI), according to a global workforce study published in 2025. Research shows that while AI is changing the way businesses operate, it is not reducing the overall need for human workers in the Gulf. On the contrary, strong economic growth, major development projects and the expansion of public

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