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Topic: Debt

Malaysian populist windfall fuels debt fears

kuala lumpur - It has never been more lucrative to be a voter in Malaysia, where political rivals are showering the public with cash in a desperate electoral battle, stoking concerns over rising national debt.With May 5 elections expected to be Malaysia's closest ever, the long-ruling coalition has ...

china premier vows tame debt risk
April 18, 2013

China’s Premier Li vows to tame debt risk

Beijing  : China will control risk arising from local government debt, Premier Li Keqiang was quoted as saying on Wednesday, while assuring the public that the world’s No. 2 economy was in “good shape”.Li made his comment on debt in passing, but it came after Fitch Ratings ...

gas fired ipps debt mounts rs 32b
April 17, 2013

Gas-fired IPPs debt mounts to Rs 32b

LAHORE - The Independent Power Producers (IPPs) of the country are in huge debt because of WAPDA’s default on its contractual obligations. Contrary to the Power Purchase Agreement, WAPDA has released meager or in some cases absolutely no payments to the gas-fired IPPs over past few months, ...

circular debt issue trims kse gains
April 11, 2013

Circular debt issue trims KSE gains

KARACHI - Stock market remained high amid thin trade led by selected blue chip stocks on strong valuations.The Karachi stock market benchmark KSE-100 share index marginally up by 9.74 points or 0.05 percent to end the day at 18,723.35 points compared to 18,713.61 points of a day earlier. In the ...

Mounting circular debt to worsen power crisis

ISLAMABAD - With the start of hot summer, mounting circular debt might force some power plants to shut down their operation of electricity generation in upcoming days, worsening load-shedding crisis across the country. Reliable sources in water & power ministry disclosed that Pakistan Electric ...

Circular debt, high price keeping check on oil sales

LAHORE - Where prevalent gas curtailment advocates for higher oil consumption, notorious circular debt along with higher prices is keeping a check on overall oil sales in the country, industry experts said. Extrapolating for last few days of March, country’s oil sales stood at 14.1 million ...

icci worried rise debt
April 06, 2013

ICCI worried over big rise in debt

ISLAMABAD - Businessmen in a meeting at Islamabad Chamber of Commerce and Industry (ICCI) showed serious concern over country’s sliding into a serious debt trap as country’s domestic debt and liabilities rose by Rs1.5 trillion, or 20 percent, to Rs8.7 trillion against Rs7.2 trillion ...

Argentina presents conditions for debt repayment

NEW YORK - Argentina on Friday offered two New York hedge funds to repay its debt to them with cash and new bonds on conditions similar to those used in a 2010 debt swap.The South American nation is facing a court order to pay out $1.3 billion (one billion euros) to bondholders on debt it defaulted ...

circular debt 5 rs 711b
March 31, 2013

Circular debt in 5 years up to Rs 711b

ISLAMABAD - Due to poor economic conditions transmission and distribution T&D losses in power sector, circular debt in the last five years increased to Rs 711 billion.According to USAID report for the Causes and Impacts of Power Sector Circular Debt in Pakistan in 2008 circular debt was ...

Debt servicing a major part of cement industry cost

LAHORE - Debt servicing has become a major component of cement industry cost as even after three interest rates cuts in past one year the effective bank markup for this sector is still well above 12 percent. Industry representatives appealed the planners to provide some industry specific interest ...

On debt ceiling, markets hopeful US has learned a lesson

NEW YORK  - The U.S. government is expected to bump up against its legal borrowing limit by March, and it would be hard to fault investors for feeling edgy.The last fight over the debt ceiling led to one of the most volatile weeks in stock market history, cost the United States its top credit ...

Debt servicing major cost as markup for cement sector over 12pc

LAHORE - Debt servicing has now become a major component of cost for cement industry as even after three interest rates cuts in past six months the effective bank markup for the industry is still well above 12 per cent. The cement sector’s representatives have appealed the authorities to ...

kse gains 147.59 circular debt easing
March 03, 2012

KSE gains 147.59 points on circular debt easing

KARACHI - Share market closed bullish across the board on positive statement by US State department on Iran Pipeline. At local equity benchmark Karachi Stock Eexchange 100-share index added 147.59 points or 1.14 percent on Friday to stop the day at 13,088.97 points as compared to 12,941.38 points ...

obama progress’ europe debt crisis
February 26, 2012

Obama sees ‘some progress’ in Europe on debt crisis

WASHINGTON  - US President Barack Obama said Friday the European Union had made “some progress” in resolving its eurozone sovereign debt crisis, but warned there was much more to do on the continent.“We agreed that there has been some progress in resolving the sovereign debt ...

china solving eu debt crisis
February 15, 2012

China to help in solving EU debt crisis

BEIJING  - China’s Premier Wen Jiabao said Tuesday his country was ready to increase its participation in efforts to resolve Europe’s debt crisis, after holding talks with EU leaders in Beijing.Wen said China wanted to see Europe — its biggest trading partner — ...

cabinet okays tfc plan circular debt
February 02, 2012

Cabinet okays TFC plan for circular debt

ISLAMABAD - Chairing a meeting on Wednesday, Prime Minster Yousuf Raza Gilani took the cabinet and coalition partners into confidence on by-polls and the 20th Amendment Bill that will be tabled in the National Assembly during the current session.Sources close to the development told this scribe ...

Greece, creditors on verge of clinching debt deal

ATHENS  - Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default.After muddling through round after round of ...

rs163b ‘loan’ sort circular debt
January 21, 2012

Rs163b ‘loan’ to sort out circular debt

ISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet on Friday has allowed the issuance of sovereign guarantee by the Ministry of Finance in terms of financing facility for the power sector to resolve the circular debt issue.The Economic Coordination Committee of the Cabinet, met ...

total debt reaches rs 11.8
January 18, 2012

Total debt reaches Rs 11.8 trillion

KARACHI - Pakistan’s total debt has reached Rs11.8 trillion, which is 60 per cent of the GDP. With Pakistan’s economy facing a truck load of challenges led by rising level of debt especially from domestic sources, the country needs measures which include tightening of the belt and ...

external debt surges rs 300b sans loan
January 05, 2012

External debt surges by Rs 300b sans new loan

ISLAMABAD - Without taking new loan, the country's external debt has surged by more than Rs 300 billion during the last few months due to sharp rupee depreciation against US dollar, as Pakistani rupee is trading at historic low level of over 90 to the US dollar, it has been learnt."The country's ...

Rupee Fall Piles Foreign Debt
December 09, 2011

Rupee fall piles up foreign debt

OUR STAFF REPORTER ISLAMABAD - Continuing downslide of rupee has put a very negative impact on the economic growth of the country, badly hitting all the important areas of economy apart from increasing countrys foreign debt servicing liabilities. Yassar Sakhi Butt, President Islamabad Chamber of ...

India Warns Protectionism Debt Fallout
November 14, 2011

India warns against protectionism in debt fallout

MUMBAI (AFP) - India warned on Sunday against protectionism as the world grapples with the sovereign debt crisis, portraying itself as a relative haven of stability in troubled economic times. Commerce minister Anand Sharma said India was an influential emerging economy and that the country will be ...

Rs 391b Resolve Circular Debt Issue
November 05, 2011

Rs 391b to resolve circular debt issue

ISLAMABAD - Showing satisfaction over the current economic situation, Secretary Finance Dr Waqar Masood Khan Friday informed that the government has issued investment bonds worth Rs 391 billion to resolve the circular debt issue of food commodity and power sector. Talking to the media persons, ...

Unpopular Congress Faces Debt Jobs Fights
September 05, 2011

Unpopular US Congress faces debt, jobs fights

WASHINGTON (AFP) - US lawmakers return to work next week after a month-long break, facing pitched battles over government spending, trade, and boosting the job-starved economy as the 2012 White House race heats up. Polarized politicians got bracingly bad news Friday as the US government reported ...

Asia Tries Calm Debt Fears
August 07, 2011

Asia tries to calm US debt fears

HONG KONG (AFP) - Japan led Asian governments in seeking to calm fears over the American debt downgrade on Saturday, saying Tokyo's trust in US Treasuries remained unchanged. Standard & Poor's has cut the US rating a notch from the top flight triple-A to AA+, saying its politicians were becoming ...

Debt Deal Billionaires Coup
August 04, 2011

US debt deal is a billionaires coup

There are two ways of cutting a deficit: raising taxes or reducing spending. Raising taxes means taking money from the rich. Cutting spending means taking money from the poor. Not in all cases of course: some taxation is regressive; some State spending takes money from ordinary citizens and gives ...

Dollar Slides Debt Impasse
July 27, 2011

Dollar slides on US debt impasse

LONDON (AFP) - The dollar slid against the euro and yen on Tuesday and hit an all-time low point against the safe-haven Swiss franc, under pressure from deadlock over the US debt limit, traders said. In early London deals, the single currency managed a brief rise above $1.45 before trading at ...

US President hosts last-ditch debt talks

WASHINGTON (AFP) - President Barack Obama and top lawmakers held crisis talks Saturday to avert a disastrous US debt default, just 10 days away, that could send shockwaves through the fragile global economy. Obama called the emergency White House summit late Friday after talks on forging a ...

Top Senator Warns Obama Debt Talks
July 23, 2011

Top US senator warns Obama on debt talks

WASHINGTON (AFP) - The top US senator, a key White House ally, warned President Barack Obama Friday not to drop possible tax hikes on the rich from negotiations on a deal to avert a disastrous early August debt default. Democratic Senate Majority Leader Harry Reid, noting that Obama was in talks ...

S&P renews United States debt warning

WASHINGTON (AFP) - Ratings agency Standard & Poors warned Thursday that the fight over the US debt ceiling could exacerbate the global tensions arising from Europes troubled economies. S&P also reiterated that it could downgrade the US debt rating if politicians cannot reach a deal to raise the ...

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