Business
May 25, 2021
KARACHI: Pakistan is closing in on a deal with bilateral creditors that would tie debt relief to the achievement of biodiversity goals, Bloomberg reported on Monday.
The South Asian nation is working with lender countries on a debt-for-nature swap program, which would see debt relief in return for binding commitments to achieve conservation targets. An official letter of intent could be announced as soon as World Environment Day on June 5, which Pakistan is hosting this year.
“Four to five creditors will commit to an intent to engage for a debt-for-nature swap,” Malik Amin Aslam, climate change adviser to Prime Minister Imran Khan, said in an interview. The country is working with the U.K., Germany, Italy and Canada, though that’s yet to be finalized, according to Noor Ahmed, secretary at the government’s economic affairs division.
May 25, 2021
If stock brokering businesses were the benchmark for India’s economic success, no one would believe that the country is going through its worse financial crisis in decades.
Over the last year, as India struggled with Covid-19 outbreaks, the country’s economy went into a recession, the unemployment rate spiked sharply, and thousands of households were pushed into poverty. Many small businesses are currently hanging by a thread.
Away from this gloom and doom, stockbrokers in India have raked in millions during the pandemic.
In the financial year that ended on March 31, 2021, the stock brokerage industry in India clocked an income of Rs27,500-28,500 crore ($3.6 billion), which is around 30-35% higher year-on-year, according to rating agency ICRA.
Das met met the MD & CEOs of select Private Sector Banks through video conference in a meeting that was also attended by Deputy Governors M. K. Jain, M. Rajeshwar Rao, Michael D. Patra and T. Rabi Sankar.In h