Business

Pakistan is set to repay $4.8 billion in foreign debt by June, including $3.5 billion to the UAE. This comes as Abu Dhabi sought quicker returns on deposits amid regional tensions. Islamabad has also secured over $5 billion in financial aid from friendly nations, while a $1.3 billion Eurobond matures this week.

Reliance Industries has begun loading a significant shipment of Venezuelan crude. This oil was directly purchased from Venezuela’s state-run oil firm, PDVSA. Reliance secured a US general license in February 2026, permitting such direct purchases. This move allows Reliance to diversify its crude sources and potentially replace some Russian supplies with discounted Venezuelan heavy oil.

Finance Minister Nirmala Sitharaman highlighted India’s strong debt management, with an 81% debt-to-GDP ratio, positioning it favorably among major economies amidst global economic volatility. The ongoing Middle East conflict poses a systemic threat to global energy, impacting supply chains and economic stability, while the RBI’s MPC begins deliberations amid inflation concerns.