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Sunday, July 1st, 2018

 

China Lends $1 Billion to Pakistan to Boost Dwindling Foreign Reserves

JUN 30, 2018: China has lent Pakistan $1 billion to boost the country’s plummeting foreign currency reserves, two sources in the finance ministry told Reuters, amid growing speculation of another International Monetary Fund bailout. The latest loan highlights Islamabad’s growing dependence on Chinese loans to buffer its foreign currency reserves, which plunged to $9.66 billion last week from $16.4 billion in May 2017. The lending is the outcome of negotiations for loans worth $1-$2 billion that was first reported by Reuters in late May, the two sources told Reuters. “Yes,Read More


Build 2 New Dams By Recovering Monies From Bank Loan Defaulters: SC

JUN 30, 2018: Chief Justice Mian Saqib Nisar on Saturday remarked that consensus had been reached between all stockholders to immediately build two dams using monies to be recovered from bank loan defaulters in view of the chronic water crisis in the country. Justice Nisar made the comments during the hearing of a case initiated in 2008 after the Supreme Court (SC) took suo motu notice of media reports that the State Bank of Pakistan (SBP) had approved a scheme to allow writing off of loans worth Rs54 billion owedRead More


30,000 Protesters Gather in Washington Against Trump Immigration Crackdown

JUN 30, 2018: Thousands gathered in front of the White House on Saturday to protest the Trump administration’s immigration policies, which have separated children from parents at the US-Mexico border and sparked plans for military-run detention camps. Joined by protesters nationwide, people crowding downtown Washington waved signs and chanted “shame” as religious leaders and activists urged the administration to be more welcoming of foreigners and to reunite families. “It goes against everything we stand for as a country,” protester Paula Flores-Marques, 27, said of President Donald Trump’s policies. Trump wasRead More