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Articles for tag: Ahsan, April, bankruptcy, internal, Iqbal, Pakistan, reveals, suffered

January 9, 2026

News Desk

Pakistan suffered ‘internal bankruptcy’ in April 2022, reveals Ahsan Iqbal

Minister for Planning, Development and Special Initiatives and Deputy Chairman Planning Commission, Ahsan Iqbal, convening the Central Development Task Force, Islamabad, December 12, 2025. — APP Tariffs are being reduced to boost export capacity, says Iqbal. The minister says the IMF program continues until 2027. Iqbal cites the drop in inflation from 38% to 4% as a relief for the people. Planning Minister Ahsan Iqbal revealed on Friday that Pakistan “almost” suffered internal bankruptcy during the PTI-led government in April 2022, saying the Finance Ministry had said it did not have money to release the final tranche of the development

May 7, 2025

News Desk

Company who wants to restructure debt of $ 1 billion

Weightwatchers, the virtual nutrition mark that now functions as WW International, has deposited for bankruptcy protection of Chapter 11 as it struggles to adapt to a new era dominated by weight loss drugs such as Ozempic and Wegovy. The New York -based company announced on Tuesday that it will restructure $ 1.15 billion debt for the best position for long -term survival. Managing Director Tara Comonte assured customers and investors that the brand remains dedicated to “science, holistic solutions”, even when traditional nutrition programs face a reduction in relevance. “The decisive actions we take today, with the overwhelming support of

March 18, 2025

News Desk

Fast-Fashion Giant Forever 21 files for bankruptcy again

Listen to the article Forever 21, Fast-Fashion retailer, based in the US, has filed for the second time to protect against capital 11 in six years. The move comes as the company faces the decline in shopping mall, increasing costs and increasing competition from electronic retailers. In a statement published on Sunday, Forever 21 announced that it will start clearing sales in all US stores and will continue a court supervisory process to sell its assets. While the company has fought to secure a buyer for its 350 US stores, its international activities remain unaffected as third -party license holders

January 19, 2025

News Desk

The US to take “emergency” measures to avoid bankruptcy

Listen to the article WASHINGTON: US Treasury Secretary Janet Yellen said the government will reach its legal borrowing limit on Tuesday and begin implementing “emergency measures” to avoid exceeding the ceiling and risking a potentially catastrophic default. Yellen, in a letter Friday to congressional leaders, just three days before the Biden administration hands over control of the US government to President-elect Donald Trump and his team, said the Treasury Department would begin using emergency measures on the 21 January. “The length of time the emergency measures may last is subject to significant uncertainty, including the challenges of forecasting US government

July 31, 2024

News Desk

Katie Price is set to undergo another facial surgery amid bankruptcy charges

Katie Price admits she traveled to Turkey as she misses bankruptcy court hearing Katie Price has confirmed she is traveling to Turkey for facial surgery to film a new documentary after failing to attend a recent bankruptcy hearing. The former glamor model was a no-show at a scheduled £760,000 bankruptcy hearing on Tuesday and is telling a story that she is due to have yet another facial surgery. It’s worth mentioning that a warrant has since been issued, with Katie admitting she is “doing her best” to fix her financial issues after receiving “very clear warnings” that she had to

May 27, 2024

News Desk

Is strategic bankruptcy a path to economic revitalization?

KARACHI: Pakistan’s external debt has become a formidable economic challenge, posing significant obstacles to its sustainable growth and fiscal stability. As the nation grapples with the burden of mounting debt, there is an imperative to critically assess the feasibility of repayment from conventional revenue streams. This article clarifies the complexities surrounding Pakistan’s external debt and argues for a default strategy as a realistic path to economic revitalization and self-reliance. Pakistan’s external debt, which includes both public and private borrowing from foreign creditors, has grown to alarming levels in recent years, reaching around $113 billion. With a significant portion allocated to

March 22, 2024

News Desk

Bankruptcy? Donald Trump is finally coming clean about his finances

Former President Donald Trump says he has money for a fraud and re-election bond. — Reuters After taking a broadside from President Joe Biden and his campaign, Republican presidential candidate Donald Trump has denied claims he’s broke, issuing new statements about his re-election financing and fraud bond. Donald Trump – who faces 91 criminal charges across four counts – said Friday morning: “Through hard work, talent and luck, I currently have nearly five hundred million dollars in cash, a significant amount of which I intended to use in my campaign for President.” President Biden’s re-election campaign on Thursday took a

February 12, 2024

News Desk

The specter of bankruptcy haunts US banks

KARACHI: The Covid-19 pandemic is almost over, but it is still haunting the US real estate sector and its banking system. Large office buildings, vacated soon after the outbreak of the deadly virus, remain empty as the work-from-home model is increasingly adopted, causing heavy losses to high-rise owners and making it impossible to repay bank financing. In another crisis, the outbreak of the Russia-Ukraine war in February 2022 sent inflation soaring around the world, forcing dozens of central banks, including the US Federal Reserve, to raise interest rates to record highs. This deepened the real estate and banking crisis in

December 10, 2023

News Desk

Ethiopia closes in on bankruptcy as talks falter

JOHANNESBURG: Ethiopia appeared to be on the brink of bankruptcy on Friday after talks with key holders of the African country’s $1 billion international bond ended without a deal. The combined cost of the Covid pandemic and the recently ended civil war in the northern Tigray region has left Ethiopia, long regarded as one of Africa’s most promising economies, struggling to service its debts. Ethiopia’s finance ministry said “acute external liquidity pressures” meant it had told bondholders it would not be able to make a $33 million bond interest payment due Dec. 11, which would trigger a default. “Unfortunately, in

November 7, 2023

News Desk

SoftBank’s WeWork files for U.S. bankruptcy amid sharp drop in shares

A WeWork logo is seen outside its offices in San Francisco, California, U.S., September 30, 2019. — Reuters WeWork, a popular co-working space provider founded by Japanese conglomerate SoftBank, sought US bankruptcy protection on Monday after its investments in companies that use more of its shared office space have soured. The move marks an admission by SoftBank that the company cannot survive without renegotiating its expensive bankruptcy leases as it has invested billions in its turnaround. According to a WeWork spokesperson, as part of a restructuring support agreement, about 92% of the company’s lenders had agreed to convert their secured

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