Pakistan still has a $4 billion financing deficit that will be filled by selling shares of publicly traded government enterprises to a friendly nation. The finance minister’s comments lend validity to rumours that friendly countries would only assist Pakistan after the resurrection of the IMF rescue package. Saudi Arabia will increase it to $2.4 billion … Read more
U.S. crypto moneylender Voyager Digital (VOYG.TO). Said on Wednesday it had sought financial protection. Turning into one more setback from an emotional fall in costs. Has shaken the digital money area. Crypto moneylenders, for example, Voyager blast in the COVID-19 pandemic, drawing contributors with exorbitant financing costs. Simple admittance to advances seldom presented by customary … Read more
Pakistan has won a terror-financing case brought in federal court in New York. The plaintiff abandoned his action against the National Bank of Pakistan. If the NBP had lost, Pakistan would have been in big trouble with the Financial Action Task Force (FATF). ISLAMABAD: Pakistan has won a terror-financing case brought in federal court in … Read more
Lenders to Matalan are gearing up for tense discussions regarding the chain’s future financing amid rising inflation. Matalan’s senior bondholders are queuing up Perella Weinberg Partners to advise them on their alternatives. Meanwhile, other junior lenders, who are owed some £80 million, are close to engaging Houlihan Lokey to advise them. Lenders to Matalan, one … Read more
ISLAMABAD: The capital markets are a viable option for attracting private investments to bridge the infrastructure financing gap and ensuring the sustainable management of infrastructure, an official said. Securities and Exchange Commission of Pakistan (SECP) Chairman Aamir Khan while delivering keynote address at a capacity building session for “Financing Infrastructure via Capital Markets”, said that … Read more
KARACHI: The State Bank of Pakistan (SBP) has enhanced the financing limit for storage of agricultural produce to 10 years from the previous seven years. The SBP, on Friday issued a circular stating that with a view to further promote investment in the storage of agricultural produce and to enhance infrastructure for Electronic Warehouse Receipt … Read more
WASHINGTON – The humanitarian crisis in Afghanistan has been worsening and it has left more than 20 million people desperate for assistance, as per the United Nations. After the Taliban took over the war torn country in August 2021, several countries around the world halted or cut the funding to Afghanistan. Hence, recently, the World … Read more
KARACHI: The government is providing an amnesty, to be announced through a presidential order, for setting up industrial units, sources in the Federal Board of Revenue (FBR) told BOL News. In his address to the nation on February 28, 2022, Prime Minister Imran Khan announced a big relief package of reducing prices of petroleum products … Read more
KARACHI: The State Bank of Pakistan (SBP) has enhanced the indicative credit limits for agriculture financing by banks to farmers to align the amount of financing with agriculture input requirements, a statement said on Wednesday. The enhanced indicative credit limits for production and development loans of farm and non-farm sector will directly benefit agriculture borrowers, … Read more
KARACHI: The government will raise Rs4.7 trillion for budget financing through the sale of treasury bills during the first three months of 2022. According to the auction targets for the next three months (January-March 2022) issued by the State Bank of Pakistan (SBP) on Wednesday, the government would auction the Market Treasury Bills (MTBs) worth … Read more
DUBAI: The UAE’s central bank has extended several measures of its Targeted Economic Support Scheme until June 30 to support the continued recovery of the country’s economy, Arab News quoted the bank, as saying. It said in a statement it was extending the TESS programme to support new lending and financing, as well as prudential relief measures … Read more
LAHORE: The China Green Finance Committee and the Beijing Institute of Finance and Sustainability arranged a seminar on “Financing climate actions: China initiatives and international cooperation” as a side event of the COP26 Finance Day, both online and in-person in Glasgow, UK, a statement said. State Bank of Pakistan former governor Yasin Anwer and representatives … Read more
KARACHI: The Meezan Bank-led consortium and Enertech Water Private Limited signed agreements of Rs25.5 billion for Islamic syndicated project financing facility for the government of Sindh, a statement said on Wednesday. This is the largest financing facility raised for the government of Sindh, structured under a public-private partnership, it added. The facility will be utilised … Read more
RIYADH: The newly-formed Saudi-Swiss Investment Forum, which will support investment in both countries, aims at hitting SR12 trillion ($3.2 billion) of financing by 2030, the Saudi Press Agency reported. The body, launched on October 25, 2021 in Riyadh, will also back Swiss companies who want to invest in the kingdom. Minister of Investment Khalid Al-Falih … Read more
KARACHI: The JS Bank has partnered with Trellis housing finance limited to reshape the housing finance industry in Pakistan, a statement said on Friday. This collaboration will allow Trellis Housing Finance Limited to extend its digital mortgage origination services under GharHo product suite to JS Bank to build a sustainable affordable housing finance portfolio, it … Read more
DUBAI: The Ajman Bank and the Commercial Bank of Dubai have raised $350 million (Dh1.28 billion) in Murabaha syndicated financing for the government of Pakistan, Khaleej Times reported on Wednesday. The two UAE banks acted as mandated lead arrangers and book-runners for the facility on behalf of Pakistan’s Ministry of Finance. The Shariah-compliant Ajman Bank also acted … Read more
Intel Corp is in talks to buy semiconductor manufacturer GlobalFoundries Inc for about $30 billion, the Wall Street Journal reported as saying on Thursday. According to the report talks come as a semiconductor shortage is hobbling industries around the globe. A deal could help Intel ramp up production of chips at a time demand is at … Read more
