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Prime Minister Nawaz Sharif while reiterating a strong response from Pakistan on any aggression against Saudi Arabia's territorial integrity agreed on further expanding existing defence, security and intelligence cooperation. A statement issued Friday from the Foreign Office, following Prime Minister's one-day visit to Saudi Arabia said "Pakistan could not remain a bystander against efforts to destabilise the Kingdom of Saudi Arabia."

Saudi Defence Minister Prince Muhammad Bin Salman, who is also the chief of the royal court and special adviser to the Custodian of the Two Holy Mosques, met on Thursday with General Raheel Sharif, Chief of Staff, Pakistan Army. During the bilateral meeting at the prince's office in Al-Maazar District of Riyadh, they discussed areas of the current military cooperation between the two friendly countries and ways of enhancing them.
Brent oil prices jumped this week to the highest level so far this year, as the latest Saudi-led air strikes on Yemen stoked supply tensions in the crude-rich Middle East. Elsewhere, precious metal gold sank on sliding safe-haven demand as a result of easing tensions over Greece.
Italian police said Friday they had dismantled an Islamist network they have linked to Osama bin Laden, one of Pakistan's deadliest attacks and, more loosely, a possible plot to bomb the Vatican. A total of 18 people were ordered arrested following a six-year investigation that began with a probe into an illegal immigration racket allegedly run from the island of Sardinia.
Pakistan has approached the Italian government to get the details and ascertain nationalities of 18 terror suspects arrested by Italian police who were allegedly inspired by al Qaeda and planning to carry out terrorist attacks inside Pakistan and Afghanistan. "Our Embassy in Rome is in touch with the Italian authorities to get details, including about the arrested suspects," Foreign Office spokesperson Tasnim Aslam told Business Recorder, adding "we are waiting for details from the Italian authorities."
President Barack Obama's admission Thursday that a US drone strike accidentally took the lives of two hostages has raised fresh questions about the limits and the risks of the country's "targeted killing" campaign. Since taking office in 2009, Obama has relied heavily on drone raids to hunt down Al-Qaeda leaders and other Islamist extremists from Pakistan's tribal areas to Somalia and Yemen. But the botched strike revealed that the US had no idea an American aid worker, Warren Weinstein, and an Italian humanitarian, Giovanni Lo Porto, were in the same compound as Al-Qaeda militants when the drone raid was launched in January.
Prime Minister Nawaz Sharif and Federal Ministers will give an in-camera briefing to Parliamentary leaders next week about Pakistan-China Economic Corridor. A proposal to this effect was given by former President and co-chairperson of PPP Asif Ali Zardari. Several political leaders are expressing concerns over the PCEC, demanding that smaller provinces should get a greater share in the $ 46 billion project. The Parliamentary leaders would be informed about initiating work on these mega projects on an emergency basis.
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln