NAWAIWAQT GROUP
Topic: Default

Argentine default looms as time runs out for debt deal

BUENOS AIRES - Argentina looks set to default on its debt for the second time in 12 years next Thursday as negotiations with “holdout” investors seemingly go nowhere and neither side shows signs of blinking first, though a last minute deal can’t be discounted.Latin America’s ...

pound fish singer default
February 25, 2014

One Pound Fish singer’s default case

LAHORE: A Banking Court Judge, Qaisar Nazir Butt, on Monday extended interim bail of Shahid Nazir, famous for ‘One Pound Fish’ song, till March 10.The judge also asked him to appear in the court on next date of hearing to frame charges against him. Earlier, Nazir told the court that he ...

kids school sealed tax default
January 23, 2014

Kids cry as school sealed over tax default

RAWALPINDII - The Excise and Taxation Department (ETD) on Wednesday sealed the main gate of a private educational institute after the owner failed to pay the professional tax with the department.A team of ETD, led by Excise and Taxation Officer (ETO) Latif Ahmed, visited Noor Grammar School at ...

us averts default trust deficit
October 20, 2013

US averts default but not trust deficit

Chen Weihua Shortly after the US Senate voted on Wednesday night to end the 16-day part shutdown of the federal government by raising its debt ceiling, President Barack Obama said there was a lot of work to be done, including the need to earn back the trust of the American people.That is indeed ...

default looms debt dollar
October 15, 2013

Dollar down as debt default looms

SINGAPORE  - The dollar weakened in Asian trade Monday as lawmakers in Washington struggle to agree a budget deal that will avoid a damaging debt default. In Singapore afternoon trade, the greenback slipped to 98.27 yen from 98.59 yen in New York late Friday.  The euro rose to $1.3565 ...

White House warns default will damage US democracy

WASHINGTON  - The White House warned Monday that the idea of a self-inflicted national default was “a terrible” scenario that would damage America’s democracy, credit and global standing for years.Top officials somberly warned there was no other plan than for Republicans to ...

stocks slump fears us default
October 08, 2013

Stocks slump on fears of possible US default

KARACHI  - Stocks fell across the board after sharp fall in global stocks and commodities on fears of possible US default on debt ceiling.At local equity market, benchmark KSE 100-share index shed 221.11 points or one percent to stop the day’s trading at 21864.85 points as compared to ...

us debt default
October 06, 2013

US faces debt default

“Banana Republicans,” sneered the Democrat’s leader, Senator Harry Reid. It’s not certain if Reid was comparing his conservative Republican opponents to monkeys or citizens of a Central American banana republic. Either way, Reid’s nasty remark captured the bitter ...

obama shutdown worse default
October 05, 2013

US default would be worse than shutdown, says Obama

WASHINGTON - President Barack Obama has broadened his focus in the budget battle, saying a government default on its debts would hurt the economy worse than the ongoing government shutdown.“As reckless as a government shutdown is ... an economic shutdown that results from default would ...

shujaat sue default blamer
July 10, 2013

Shujaat to sue default blamer

LAHORE  - PML-Q President Chaudhry Shujaat Hussain while rejecting reports of his family’s loan default of the Bank of Punjab said that he was consulting his lawyers to prepare a case of defamation. In a press statement issued on Tuesday, he said that Chaudhry family had never taken a ...

sbp facilitating ecp loan default
April 09, 2013

SBP facilitating ECP on loan default cases

ISLAMABAD - The State Bank of Pakistan (SBP) is facilitating the Election Commission of Pakistan (ECP) by providing basic information about those candidates who have defaulted on loans they had obtained from various banks during the past five years.“We are providing information to the ECP ...

default degree dilemmas
March 29, 2013

Default-degree dilemmas

Alarming, though not so surprising, information that has come to public knowledge about the default the hundreds of the outgoing people’s representatives have committed in clearing their dues for the use of electricity and telephone facilities would have remained hidden had the Election ...

US debt default may hurt mly operations

KANDAHAR (Reuters) - It is unclear if the United States will be able to pay troops on time in the event of a debt default, the top US military officer told troops in Afghanistan on Saturday. Admiral Mike Mullen, chairman of the US militarys Joint Chiefs of Staff, said Pentagon officials were ...

Lawmakers deadlocked over deal as US default looms

WASHINGTON (Reuters) - The United States edged closer on Tuesday to a devastating default as Republicans and Democrats were deadlocked over competing plans to raise the debt ceiling, one week before a deadline to act. President Barack Obama, in a televised address aimed at rallying public support ...

America rushes to avert disastrous default

WASHINGTON (AFP) - The White House and top lawmakers hurriedly hunted Sunday for a deal to stop the world's richest country from an unthinkable and ruinous default on its debt just hours before Asian markets were to open. "We may have a few stressful days coming up, and stressful for the markets of ...

Greece in the spotlight after evoking selective default

ATHENS (AFP) - Greece heads to another EU summit next week on fresh aid for its debt-wracked economy after evoking -- before pulling back -- the thorny notion of a selective default that could unleash a eurozone storm. The term is understood to mean a pick-and-choose approach to a country's ...

Debt deal needs sacrifices to avoid looming default: Obama

WASHINGTON (Reuters) - President Barack Obama said on Saturday political sacrifices will be needed by both Democrats and Republicans to break a budget impasse and avoid a looming debt default. Under pressure to reduce Americas 9.2 per cent jobless rate, Obama used his weekly radio and Web address ...

Punjab faces Rs 520 billion default: Kaira

LAHORE-The recently sacked Punjab Finance Minister Tanvir Ashraf Kaira has alleged that Punjab is facing a default of over Rs 520 billions, while 96b had been wasted due to corruption out of total development budget of Rs193 billions. Addressing a news conference along with ex-PPP minister ...

Nab Arrests Rs 174m Loan Default
January 08, 2011

NAB arrests 2 for Rs 174m loan default

KARACHI (APP) - The authorities of National Accountability Bureau (NAB) Sindh on Friday arrested two directors of private industry on allegations of willful loan default of Rs 174 million availed from National Bank of Pakistan (NBP). According to an announcement of National Accountability Bureau, ...

China auditor warns local govts face default risk

BEIJING (AFP) - Local governments in China are at risk of defaulting on loan repayments, state media said Thursday, following a state-sanctioned lending binge in 2009 aimed at boosting economic growth. The warning from the director of the National Audit Office highlights growing concerns among ...

Pso Default Lcs Payment
August 28, 2009

PSO may default on LCs payment

KARACHI - Pakistan State Oil (PSO) may face default on its payment obligation for LCs for oil purchase from international market, if the issue of circular debt of the company is not resolved in few days. The circular debt has now touched the highest mark in the history of the PSO, as it is now ...

Default Notices Two kse Members Issued
November 08, 2008

Default notices to two KSE members issued

KARACHI - National Clearing Company of Pakistan (NCCPL) on Friday issued warning notices of default to the two brokers of Karachi Stock Exchange owing to not paying dues on the Continuous Funding System (CFS) counter. While about 35-40 members of KSE are said to be on the verge of default, The ...

Rs50b relief plan may not save investors from default

KARACHI - The members of Karachi Stock Exchange have termed the government's new measures of launching Rs20 billion market support fund along with government guarantee of Rs30 billion to foreign portfolio investors as a move to restrict only the downside in the government listed companies and ...

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