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Articles for tag: Banks, billion, Dollars, eastern, loan, Middle, Pakistan, Pakistan secures $1 billion loan dollars from two Middle Eastern banks, secures

January 21, 2025

News Desk

Pakistan secures $1 billion loan dollars from two Middle Eastern banks

Listen to the article Finance Minister Muhammad Aurangzeb announced on Tuesday that Pakistan has finalized the terms of a $1 billion loan from two Middle Eastern banks, marking another step in the country’s efforts to secure much-needed financing. The loans, agreed at an interest rate of 6-7%, were confirmed during an interview at the annual meeting of the World Economic Forum. Aurangzeb revealed that the agreements include a bilateral loan and a trade finance agreement, both with a short-term tenure of up to one year. This is part of Pakistan’s broader plan to raise $4 billion from Middle Eastern commercial

December 29, 2024

News Desk

PSX surges 78% in 2024, secures second place worldwide: report

Two investors are seen discussing in front of the digital stock board at the Pakistan Stock Exchange. — AFP/File PSX’s market capitalization remains at $50 billion. dollars despite the rally. The fall is due to rupee depreciation, large dividend payments. It could sustain a positive rally if political stability continues. KARACHI: The Pakistan Stock Exchange (PSX) has outperformed other asset classes in the country for 2024, with the benchmark KSE-100 rising 78%. This remarkable performance placed the PSX as the second best performing exchange globally, trailing only Argentina, according to The Newsciting Topline Securities report. Over the past 18 months,

December 13, 2024

News Desk

Hoylund double secures Manchester United Europa League win

Manchester United’s Rasmus Hojlund celebrates his second goal with teammates against Viktoria Plzen on December 12, 2024. — Reuters Rasmus Hoylund scored twice to help Manchester United secure a 2-1 win against six-time Czech champions Viktoria Plzen in the Europa League on Thursday. Substitute Hojlund needed just six minutes on the pitch to cancel out Plzeň striker Matej Vydra’s second-half opener before sealing the win with another strike just before full-time for United’s third straight win in the organization. United, who remain unbeaten after six games, have temporarily moved up to fifth in the table with 12 points as they

November 19, 2024

News Desk

Pakistan secures $500 million ADB loan for climate resilience projects

Finance Secretary Dr Kazim Niaz and ADB Director Ms Emma Fan sign the loan agreement during a ceremony attended by senior government officials and ADB officials on Tuesday. — APPLICATION Program to enhance inclusive investments in disaster risk mitigation. The agreement was signed after the nod from the Minister of Economic Affairs Ahad Cheema. ADB project to help address country’s exposure to climate impacts. Islamabad: Pakistan and the Asian Development Bank (ADB) on Tuesday signed a $500 million Climate and Disaster Resilience Strengthening Program (CDREP) loan agreement to strengthen the country’s resilience against disasters caused by natural hazards and the

October 8, 2024

News Desk

Pakistan secures $3.2 billion in loans from foreign lenders

A foreign exchange dealer counts US dollars at a shop in Karachi, Pakistan, May 19, 2022. — AFP/File Saudi Arabia promises $1.2 oil facilities for Islamabad. Dubai Islamic Bank pledges $1 billion. IDB, SCB pledge $600 million and $430 million, respectively. ISLAMABAD: Amid Prime Minister Shehbaz Sharif-led government’s efforts to tackle various challenges on the economic front, the government has secured a foreign loan commitment of $3.2 billion from international creditors, including the Saudi Arabian Oil Facility (SOF). of $1.2 billion over the next 12 months; The News reported on Tuesday. The loan pledges include a $1.2 billion loan facility

September 9, 2024

News Desk

Putin’s ruling party secures sweeping victory in Russian regional elections

MOSCOW: Russia’s ruling party won a resounding victory in all regional elections it contested last week, official results showed on Monday, in what authorities said was a sign of support for President Vladimir Putin’s government. Russia has banned, jailed or exiled all major opposition politicians since launching its offensive in Ukraine in 2022, with the election largely becoming a rubber stamp for Putin and his United Russia party. The leaders of 21 regions went to the polls between September 6 and 8, including Kursk region, where Ukraine still controls dozens of villages after launching a major cross-border offensive last month.

September 6, 2024

News Desk

Ronaldo’s landmark 900th goal secures victory for Portugal

Cristiano Ronaldo scored his 131st goal for Portugal and the 900th of his remarkable career, converting Nuno Mendes’s pinpoint cross at the Estadio da Luz on Thursday night during Portugal’s UEFA Nations League match against Croatia. The Al-Nasr striker showed visible emotion after the goal, although Diogo Dalot’s own goal in the seventh minute reduced Croatia’s deficit just before half-time. Ronaldo added to his 901 goals with the composure and skill that defined his career. After another assist from Mendes in Portugal’s UEFA Nations League clash with Croatia, Ronaldo was celebrated for his continued brilliance. Portugal won 2-1, but the

August 31, 2024

News Desk

Polio vaccination campaign begins in Gaza as WHO secures humanitarian pause

Listen to the article A health official said a polio vaccination campaign began in Gaza on Saturday after the war-torn region recorded its first case of the disease in a quarter of a century. Local health officials along with the UN and NGOs are “starting today the polio vaccination campaign in the central area,” said Musa Abed, director of primary health care at Gaza’s health ministry. AFP. The World Health Organization (WHO) said on Thursday that Israel had agreed to a series of three-day “humanitarian pauses” in Gaza to facilitate vaccinations, although officials had earlier said the campaign was expected

August 17, 2024

News Desk

Government secures Rs119bn in Sukuk sale on PSX

KARACHI: The government raised new domestic debt totaling 119 billion rupees by selling one- to five-year Sukuks (Sharia-compliant bonds) on the Pakistan Stock Exchange (PSX). This financing, secured at reduced rates, is intended to help bridge the widening fiscal deficit. The Finance Ministry surpassed its target of Rs100 billion during the 12-month Sukuk auction held on Thursday, achieving relatively higher funding. Financial institutions offered a substantial Rs 451 billion against the target, with underperformance ranging from 14.38% to 18.83%. Regular Sukuk auctions on the stock exchange help Shariah-compliant financial institutions to expand their market share by increasing their funding to

August 17, 2024

News Desk

Zirkzee’s late goal secures victory for Manchester United

MANCHESTER: A late goal from new signing Joshua Zirkzee earned Manchester United a nervy 1-0 win over Fulham in the Premier League opener of the season at Old Trafford on Friday. The home fans were in high spirits ahead of the first game of the English top-flight campaign, with four players unveiled on the pitch and new faces in the United boardroom also in attendance. Just as they did at home for much of last season, however, United struggled to break down their opponents in the first half, with captain Bruno Fernandes coming closest to scoring in the first half.

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