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The report also claimed that talks with the government for a 500 million pounds ($618 million) bailout package had been “effectively shelved”.(Unsplash)
travel

Virgin Atlantic ‘still talking’ with UK government on bailout

By Indo Asian News Service | London
UPDATED ON APR 26, 2020 05:43 PM IST
British airline Virgin Atlantic was still talking with the UK government about a bailout package to cope with the devastating effects of the coronavirus pandemic on travel, a company spokesperson has said.
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A few years ago, Chinese President Xi Jinping promised to invest $60 billion into Pakistan’s economy. Since then, Pakistanis have hoped Chinese money would fund the power and transport infrastructure that could jump-start growth.(Reuters/File Photo)
A few years ago, Chinese President Xi Jinping promised to invest $60 billion into Pakistan’s economy. Since then, Pakistanis have hoped Chinese money would fund the power and transport infrastructure that could jump-start growth.(Reuters/File Photo)
world news

Pakistan’s bailout exposes some flaws in China’s Belt and Road plan

By Mihir Sharma | Bloomberg
UPDATED ON OCT 12, 2018 12:09 AM IST
Pakistan has had to seek bailouts 10 times since 1990 and still owes money from the last time it needed a handout.
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US secretary of state Mike Pompeo speaks at a press conference in Washington on July 26.(REUTERS)
US secretary of state Mike Pompeo speaks at a press conference in Washington on July 26.(REUTERS)
world news

‘Make no mistake’: Pakistan can’t use IMF bailout to pay off its China debts, warns US

By Reuters | Reuters
UPDATED ON JUL 31, 2018 02:04 PM IST
Mike Pompeo said the US looked forward to engagement with the government of Pakistan’s expected new prime minister, Imran Khan, but said there was “no rationale” for a bailout that pays off Chinese loans to Pakistan.
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Twenty-one banks, majority owned by New Delhi, account for more than two-thirds of the banking assets in Asia’s third-biggest economy.(AFP File Photo)
Twenty-one banks, majority owned by New Delhi, account for more than two-thirds of the banking assets in Asia’s third-biggest economy.(AFP File Photo)
business

Govt pushes public sector banks to find own funding sources after $32 billion bailout

By Reuters | Neha Dasgupta and Sanjeev Miglani, Reuters
UPDATED ON APR 02, 2018 10:26 PM IST
The Indian government would like to get the total number of public sector banks to down to 12-13 from 21 now through mergers
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