Month: August 2022

Investors shun Pakistani bonds over rising default threat

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Investors are wary of Pakistan’s default on Sri Lanka as the South Asian country grapples with rising commodity prices and tighter credit conditions. Pakistan’s foreign bonds maturing in 2024, 2025 and 2026 are trading briskly in distressed territory, according to Bloomberg data, at about 71, 65 and 63 cents per dollar, respectively. The country’s debt was one of the worst-performing of all emerging markets issued this year, pointing to investor concerns about pressures on the developing economy. The surge in global energy and food prices since Russia’s invasion of Ukraine…

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Pakistan’s finance minister says the country has avoided a Sri Lanka-like default crisis

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Pakistan’s finance minister said the government has taken steps that will put the country on the right track and help the South Asian nation avoid an economic collapse. But that will cause pain for its people, he added. The country is desperately fighting for its survival as the recent rise in commodity and energy prices have exacerbated its debt problems. It has been struggling to pay for its imports as its official liquid foreign exchange reserves shrank by $754 million to $8.57 billion in the week ended July 22, according…

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Pakistan, UAE discuss need to accelerate cooperation in energy sector

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Prime Minister Shehbaz Sharif Tuesday exchanged views on matters of common interest with UAE President Sheikh Mohamed bin Zayed Al Nahyan during a telephone call. The two leaders review the progress and resolved to further strengthen ties while recalling the decisions taken during the visit of PM Shehbaz to the UAE in April 2022. According to a statement released by the Prime Minister’s Office, the two leaders resolved to further strengthen trade and economic ties with a particular focus on accelerating cooperation and building partnerships in areas comprising investments, energy,…

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GoodWe Listed Among the Global Top 3 Hybrid Inverter Supplier by Wood Mackenzie

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GoodWe was listed as one of the top 3 hybrid inverter suppliers globally in 2021, taking around 13% global market share according to data released by Wood Mackenzie, the world’s leading authority on energy research. Since its establishment in 2010, GoodWe has been continuously focusing on PV inverters and energy storage solutions and has gained a competitive foothold in the industry. Despite the pandemic and the subsequent supply chain disruptions and surging raw material prices in recent years, GoodWe has continued to invest in R&D (approx. 8% sales revenue) and…

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Pakistan Signs an Inter-Governmental Framework Agreement With The Government Of Denmark For The Interest Free Loans In Renewable Energy, Energy Efficiency, Water Supply And Wastewater Treatment Sectors.

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Muhammad Humair Karim, Secretary, Ministry of Economic Affairs, H.E. Ms. Lis Rosenholm, Ambassador of Denmark to Pakistan , signed an Inter-Governmental Framework Agreement between the Governments of Pakistan and Denmark. H.E. Ms. Lis Rosenholm, the Ambassador of Denmark to Pakistan also had a brief meeting with the Minister for Economic Affairs, Sardar Ayaz Sadiq in his office. He apprised the Ambassador that Pakistan and Denmark enjoy a friendly and cordial relationship and a lot of potential exist to enhance the relationship between both nations. He further stated that the efforts…

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