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World Bank Report Debt To Pakistan Difficult Included In The World 10 Biggest Borrowers

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Agency, Islamabad.

Published by: Dev Kashyap
Updated Thu, 14 Oct 2021 01:04 AM IST

Summary

According to the latest report, the contribution of the Imran government is 40 percent of the debt on Pakistan. In this situation he may find it difficult to get credit from the world. Pakistan has become eligible for the Debt Service Suspension Initiative (DSSI) after the COVID-19 pandemic.

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According to a World Bank report, neighboring Pakistan has joined the top 10 indebted countries that have the highest external debt. According to the report, he has become eligible for the Debt Service Suspension Initiative (DSSI) after the Kovid-19 epidemic. Because of this, it may now face difficulties in getting foreign loans.

Quoting the International Debt Statistics for 2022 released by the World Bank, Pakistani newspaper The News International has said in its report that there has been a wide variation in the rate of credit received by countries under DSSI, including large borrowers. According to DSSI, the world’s 10 largest borrowers include Angola, Bangladesh, Ethiopia, Ghana, Kenya, Mongolia, Nigeria, Pakistan, Uzbekistan, and Zambia.

Their combined external debt stood at $509 billion at the end of 2020, a 12 percent increase over 2019. This has been 59 per cent of the total external debt of all the countries covered by DSSI. Whereas according to the recent report, the contribution of Imran government is only 40 percent of the debt on Pakistan. In these circumstances, he may find it difficult to get credit from the world.

Many more difficulties in getting loan
According to the World Bank report, an 8 per cent increase in foreign debt shares for Pakistan supports the stoppage of payments from commercial banks and new credit lines. Apart from this, net inflows from other private creditors into Pakistan also increased by 15 per cent to $14 billion in 2020. While FDI inflows fell marginally to $1.9 billion. In such a situation, it will not be easy for Pakistan to get a new loan.

Expansion

According to a World Bank report, neighboring Pakistan has joined the top 10 indebted countries that have the highest external debt. According to the report, he has become eligible for the Debt Service Suspension Initiative (DSSI) after the Kovid-19 epidemic. Because of this, it may now face difficulties in getting foreign loans.

Quoting the International Debt Statistics for 2022 released by the World Bank, Pakistani newspaper The News International has said in its report that there has been a wide variation in the rate of credit received by countries under DSSI, including large borrowers. According to DSSI, the world’s 10 largest borrowers include Angola, Bangladesh, Ethiopia, Ghana, Kenya, Mongolia, Nigeria, Pakistan, Uzbekistan, and Zambia.

Their combined external debt stood at $509 billion at the end of 2020, a 12 percent increase over 2019. This has been 59 per cent of the total external debt of all the countries covered by DSSI. Whereas according to the recent report, the contribution of Imran government is only 40 percent of the debt on Pakistan. In these circumstances, he may find it difficult to get credit from the world.

Many more difficulties in getting loan

According to the World Bank report, an 8 per cent increase in foreign debt shares for Pakistan supports the stoppage of payments from commercial banks and new credit lines. Apart from this, net inflows from other private creditors into Pakistan also increased by 15 per cent to $14 billion in 2020. While FDI inflows fell marginally to $1.9 billion. In such a situation, it will not be easy for Pakistan to get a new loan.

Disclaimer: This post has been auto-published from an agency/news feed without any modifications to the text and has not been reviewed by an editor.

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International Criminal Court Case Filed Against Brazil President Jair Bolsonaro In Crime Against Nature

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New York Times News Service, The Hag

Published by: Kuldeep Singh
Updated Thu, 14 Oct 2021 01:04 AM IST

Summary

Allrise, an organization working for climate change in Austria, says that crimes against nature are a kind of serious crime against humanity. He said, knowing everything, the President of Brazil was getting the Amazon forests destroyed. He knew what the consequences would be.

Brazilian President Jair Bolsonaro
– Photo : Facebook

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A case has been filed against Brazilian President Jair Bolsonaro in the International Criminal Court (ICC) for the crime of playing with nature. Austria’s climate change organization Allrise has called for an official investigation into whether Bolsonaro’s policies are against humanity.

Knowing everything, Jair Bolsonaro kept destroying the Amazon forests
Johannes Wegemann, founder of AllRice, says that crimes against nature are a serious crime against humanity. He said, knowing everything, the President of Brazil was getting the Amazon forests destroyed. He knew what the consequences would be.

The complaint against Bolsonaro has been filed with the ICC at a time when the world is preparing for next month’s COP-26 climate summit in Glasgow and everyone’s attention is towards environmental problems. Current figures show that the amount of carbon emissions due to deforestation of the Amazon is more than the annual total emissions of Italy or Spain. Due to this harvesting, so much carbon dioxide is released that the Amazon cannot absorb.

Case will become an example to stop anti-climate measures
There have been three more complaints against Bolsonaro in The Hague, but this case is different from others. According to Allrise, this case will set an example and more such cases which harm the environment will also come to the fore. Weizemann, the founder of AllRice, said the complaint would have implications for other countries as well and they would refrain from taking anti-climate measures.

Expansion

A case has been filed against Brazilian President Jair Bolsonaro in the International Criminal Court (ICC) for the crime of playing with nature. Austria’s climate change organization Allrise has called for an official investigation into whether Bolsonaro’s policies are against humanity.

Knowing everything, Jair Bolsonaro kept destroying the Amazon forests

Johannes Wegemann, founder of AllRice, says that crimes against nature are a serious crime against humanity. He said, knowing everything, the President of Brazil was getting the Amazon forests destroyed. He knew what the consequences would be.

The complaint against Bolsonaro has been filed with the ICC at a time when the world is preparing for next month’s COP-26 climate summit in Glasgow and everyone’s attention is towards environmental problems. Current figures show that the amount of carbon emissions due to deforestation of the Amazon is more than the annual total emissions of Italy or Spain. Due to this harvesting, so much carbon dioxide is released that the Amazon cannot absorb.

Case will become an example to stop anti-climate measures

There have been three more complaints against Bolsonaro in The Hague, but this case is different from others. According to Allrise, this case will set an example and more such cases which harm the environment will also come to the fore. Weizemann, the founder of AllRice, said the complaint would have implications for other countries as well and they would refrain from taking anti-climate measures.

Disclaimer: This post has been auto-published from an agency/news feed without any modifications to the text and has not been reviewed by an editor.

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Infosys Will Hire 45 Thousand Freshers – Good News: Infosys will give jobs to 45 thousand freshers, the company is expanding its operations

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Agency, New Delhi.

Published by: Jeet Kumar
Updated Thu, 14 Oct 2021 01:14 AM IST

Summary

The company is continuously expanding its operations, due to which we will need more employees. This is the reason that in the current financial year, we have increased the target of recruiting freshers to 45 thousand.

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The country’s second largest IT company Infosys reported a 12 per cent increase in profit at Rs 5,421 crore in the September quarter. Buoyed by the second quarter results, the company has set a target of employing 45,000 freshers in 2021-22. Earlier this figure was 35 thousand.

Infosys Chief Operating Officer (COO) Praveen Rao said that the rate of change of jobs of employees is increasing continuously. It rose to 20.1 per cent in September, up from 12.8 per cent in the previous year.

He said total profit grew by 11.9 per cent in the July-September quarter as against Rs 4,845 crore in the same period last year. The company’s revenue during this period grew by 20.5 per cent to Rs 29,602 crore.

The company expects revenue to grow by 17.5 per cent in the current fiscal. The company’s CEO and MD Salil Parekh said that the board has decided to pay dividend at the rate of Rs 15 per share to the investors.

Wipro profit up 17 percent
IT company Wipro’s profit also saw a strong jump of 17 per cent in the September quarter. The company on Wednesday reported a total profit of Rs 2,930.6 crore for the second quarter ended September 30, up from Rs 2,484 crore in the same period last year.

The company has also crossed the annual revenue rate of 75,300 crores. Thierry Delaporte, CEO and MD, Wipro, said, “There has been a growth of 28 per cent year-on-year in the first half of the current financial year. Our revenue also grew by 29.5 per cent to Rs 19,378 crore.

Expansion

The country’s second largest IT company Infosys reported a 12 per cent increase in profit at Rs 5,421 crore in the September quarter. Buoyed by the second quarter results, the company has set a target of employing 45,000 freshers in 2021-22. Earlier this figure was 35 thousand.

Infosys Chief Operating Officer (COO) Praveen Rao said that the rate of change of jobs of employees is increasing continuously. It rose to 20.1 per cent in September, up from 12.8 per cent in the previous year.

He said total profit grew by 11.9 per cent in the July-September quarter as against Rs 4,845 crore in the same period last year. The company’s revenue during this period grew by 20.5 per cent to Rs 29,602 crore.

The company expects revenue to grow by 17.5 per cent in the current fiscal. The company’s CEO and MD Salil Parekh said that the board has decided to pay dividend at the rate of Rs 15 per share to the investors.

Wipro profit up 17 percent

IT company Wipro’s profit also saw a strong jump of 17 per cent in the September quarter. The company on Wednesday reported a total profit of Rs 2,930.6 crore for the second quarter ended September 30, up from Rs 2,484 crore in the same period last year.

The company has also crossed the annual revenue rate of 75,300 crores. Thierry Delaporte, CEO and MD, Wipro, said, “There has been a growth of 28 per cent year-on-year in the first half of the current financial year. Our revenue also grew by 29.5 per cent to Rs 19,378 crore.

Disclaimer: This post has been auto-published from an agency/news feed without any modifications to the text and has not been reviewed by an editor.

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Prices Will Be Reduced Of Edible Oils By Up To Rs 15 Before Festivals

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Summary

SEA’s executive director BV Mehta said palm oil imports stood at a record 12.62 lakh tonnes in September, the highest since imports were introduced in 1996.

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The government is making constant efforts to keep the retail prices of edible oils low before the festivals. After fixing the storage limit for edible oils, the basic customs duty on palm, soya and sunflower crude oil was also reduced on Wednesday.

Apart from this, record imports were made in September to improve supply during the festive season. The government has announced to reduce customs duty on edible oils, giving a big relief to the common man before the festivals. Due to this, the price of edible oils of palm, soybean and sunflower will be reduced by up to Rs 15.

Edible oil organization SEA said that imports in September increased by 63 per cent to a record 16.98 lakh tonnes. This is the highest ever import in any single month, in which palm oil has a record share. Earlier, the highest import of edible oil was 16.51 lakh tonnes in October 2015.

The import of non-edible oils also increased by nearly three and a half times to 63,608 tonnes as against 17,702 tonnes in the previous year. The share of palm oil in total oil imports has also increased to 63 per cent from 54 per cent last year.

Fee cut for the fourth time
The government has cut excise and customs duty for the fourth time in the last few months to bring down the prices of edible oils. After the reduction in cess and customs duty on Wednesday, the price of refined palm oil will come down by Rs 8-9 a liter and that of sunflower and soybean oil by Rs 12-15.

The executive director of SEA said, “Usually, international prices go up after the government cuts import duty. In the last one year, edible oil has become costlier by 46.15 per cent in the domestic market. 60 per cent of the total edible oil consumption in the country has to be imported.

Tomato turned red due to inflation, reached Rs 72 a kg
Tomato prices are increasing continuously in metro cities. Retail prices have touched Rs 72 a kg in some cities after rain ravaged crops in Madhya Pradesh and Maharashtra.

The Consumer Ministry said that on Thursday, tomato was selling at Rs 72 per kg in Kolkata, which was being sold at Rs 38 a month ago. In Delhi-Chennai, the price has increased by Rs 30 to Rs 57, while in Mumbai it is Rs 53. However, the retail price of tomato has reached more than Rs 100/kg in many areas of Delhi.

How much did the price increase in a year
edible oil 2020 2021
Soy 106 154.95
Mustard 129.19 184.43
Vegetation 95.5 136.74
Sunflower 122.82 170.09
Palm 95.68 132.06
Source: Ministry of Food, Data: As of 9 October

The central government has announced to reduce customs duty on edible oils, giving a big relief to the common man before the festivals. Due to this, the price of edible oils of palm, soybean and sunflower will be reduced by Rs 15 and the burden of common man’s kitchen will be lightened during festivals. According to the notification of the Central Board of Indirect Taxes and Customs, this reduction in import duty and cess will be applicable from October 14 to March 31, 2022.

The edible oil industry body (SEA) said, the retail prices of cooking oils touching high may come down by up to Rs 15 per liter with this decision.

Apart from this, the Agricultural Infrastructure Development Cess (AIDC) on crude palm, soya and sunflower oils has also been reduced. It will now be 7.5 per cent on crude palm oil and 5 per cent on soybean and sunflower oil. Till now, edible oils attract 20 per cent AIDC and 2.5 per cent customs duty.

Expansion

The government is making constant efforts to keep the retail prices of edible oils low before the festivals. After fixing the storage limit for edible oils, the basic customs duty on palm, soya and sunflower crude oil was also reduced on Wednesday.

Apart from this, record imports were made in September to improve supply during the festive season. The government has announced to reduce customs duty on edible oils, giving a big relief to the common man before the festivals. Due to this, the price of edible oils of palm, soybean and sunflower will be reduced by up to Rs 15.

Edible oil organization SEA said that imports in September increased by 63 per cent to a record 16.98 lakh tonnes. This is the highest ever import in any single month, in which palm oil has a record share. Earlier, the highest import of edible oil was 16.51 lakh tonnes in October 2015.

The import of non-edible oils also increased by nearly three and a half times to 63,608 tonnes as against 17,702 tonnes in the previous year. The share of palm oil in total oil imports has also increased to 63 per cent from 54 per cent last year.

Fee cut for the fourth time

The government has cut excise and customs duty for the fourth time in the last few months to bring down the prices of edible oils. After the reduction in cess and customs duty on Wednesday, the price of refined palm oil will come down by Rs 8-9 a liter and that of sunflower and soybean oil by Rs 12-15.

The executive director of SEA said, “Usually, international prices go up after the government cuts import duty. In the last one year, edible oil has become costlier by 46.15 per cent in the domestic market. 60 per cent of the total edible oil consumption in the country has to be imported.

Tomato turned red due to inflation, reached Rs 72 a kg

Tomato prices are increasing continuously in metro cities. Retail prices have touched Rs 72 a kg in some cities after rain ravaged crops in Madhya Pradesh and Maharashtra.

The Consumer Ministry said that on Thursday, tomato was selling at Rs 72 per kg in Kolkata, which was being sold at Rs 38 a month ago. In Delhi-Chennai, the price has increased by Rs 30 to Rs 57, while in Mumbai it is Rs 53. However, the retail price of tomato has reached more than Rs 100/kg in many areas of Delhi.

How much did the price increase in a year

edible oil 2020 2021

Soy 106 154.95

Mustard 129.19 184.43

Vegetation 95.5 136.74

Sunflower 122.82 170.09

Palm 95.68 132.06

Source: Ministry of Food, Data: As of 9 October

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Edible oil will be cheaper by Rs 15, the government has reduced the tax

Disclaimer: This post has been auto-published from an agency/news feed without any modifications to the text and has not been reviewed by an editor.

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