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Riyaz ul KhaliqSaturday April 25, 2026 Pakistan said Friday that it has fully repaid $3.45 billion in debt to the United Arab Emirates, marking the clearing of a major external obligation for the cash-strapped economy. In a statement, the State Bank of Pakistan said it had returned a $1 billion deposit to the Abu Dhabi Fund for Development (ADFD), UAE. “Deposits of $2.45 billion were repaid last week. This completes the repayment of total deposits of $3.45 billion to the UAE,” the central bank said. The repayment comes at a…

Warner Bros Discovery cleared a major hurdle in its proposed $110 billion merger with Paramount Skydance after shareholders approved the transaction, even as they signaled sharp unease over the executive pay arrangements tied to the deal. Those compensation plans drew a clear rebuke in an advisory vote. Under the proposed packages, CEO David Zaslav stands to collect as much as $887 million if the sale goes through. Proxy adviser ISS had described Zaslav's possible payout as "extremely large". "Management now faces a twofold…

The European Union signalled fresh financial backing for Ukraine, with foreign policy chief Kaja Kallas saying she expects "positive decisions" tomorrow on a €90 billion loan package. "We expect some positive decisions tomorrow on the €90bn loan," she said ahead of a meeting of EU foreign ministers in Luxembourg, where ministers are also set to hear a renewed call to suspend trade relations with Israel. "Ukraine really needs this loan and it's also a sign that Russia cannot outlast Ukraine," Ms Kallas said. Her remarks came…

Rebuilding Gaza will cost an estimated $71bn, EU foreign policy chief Kaja Kallas said, underscoring the scale of the destruction as European leaders weigh both aid and pressure on Israel. Speaking in Brussels during a series of meetings focused on the Palestinian issue, Ms Kallas said the estimate had been developed after months of talks with the World Bank and the United Nations. The EU is bringing together countries that have committed to backing a two-state solution to the Middle East conflict, alongside a donor…

Three years into Sudan’s devastating war, international donors meeting in Berlin pledged about €1.3 billion in a bid to ease a crisis that has killed tens of thousands of people and driven millions from their homes. "This nightmare must end," UN Secretary-General António Guterres said, describing the anniversary as "a tragic milestone in a conflict that has shattered a country of immense promise". "The consequences are not confined to Sudan. They are destabilising the wider region," he told the conference in a video address.…

KAMPALA, Uganda — Uganda’s military chief, Gen. Muhoozi Kainerugaba, has set off another round of diplomatic unease, this time by calling for $1 billion in compensation for Uganda’s mission in Somalia while also saying he wants to marry the “most beautiful woman” in Turkey. The commander of Uganda’s armed forces and son of President Yoweri Museveni made the remarks in a series of striking statements that once again highlighted his flair for provocation. Kainerugaba said marrying a Turkish national was a personal requirement,…

In a decisive move, the House of Representatives has greenlit President Bola Tinubu's proposal for a substantial external loan totaling $6 billion, primarily designed to address fiscal deficits and support critical infrastructure initiatives. This approval facilitates the federal government’s ability to secure financing from international lenders based in the United Arab Emirates and the United Kingdom. The comprehensive financial package encompasses a significant $5 billion Total Return Swap arrangement with First Abu…

US has spent $12bn on Iran war, White House economic chief says, as Pentagon signals escalation Kevin Hassett gives latest cost since Feb. 28 joint US-Israel strikes; Defense Secretary Pete Hegseth says bombing of Iran is “about to surge dramatically” Standfirst: The Trump administration faces growing questions over the war’s price tag and purpose. Markets remain on edge over possible Strait of Hormuz disruptions, while Senate Democrats warn of “mission creep.” The United States has spent $12bn on its war against Iran since…

Ukraine will need roughly €500 billion to rebuild from Russia’s war, a joint assessment by the World Bank, United Nations and European Union said, putting a price tag nearly three times the country’s annual economic output on nationwide recovery as the conflict enters its fifth year. The estimate — about $588 billion — is 12% higher than last year’s figure, reflecting a winter of relentless strikes on the power grid that left millions without heat or electricity. The damage tally runs through the end of December, the report…

eBay has agreed to buy Depop from Etsy in a $1.2 billion deal, a move that deepens the online marketplace’s push into secondhand fashion and the Gen Z resale economy. The companies said the transaction is expected to close in the second quarter of this year. The acquisition is aimed at broadening eBay’s reach with younger shoppers and reinforcing its long-term growth strategy in “pre-loved” apparel and accessories, a category that has surged alongside climate-conscious and cost-aware buying habits. “Depop has built a…