Pakistan has signed an agreement with the United States to jointly redevelop New York's Roosevelt Hotel, according to four official documents reviewed by Reuters and two sources, in a deal between the two governments that will allow Islamabad to unlock the value of one its most prized overseas investments. The two countries signed a memorandum of understanding on Thursday shortly after Pakistan's cabinet approved the process, two sources told Reuters.

Source: The Telegraph February 19, 2026 15:44 UTC