Guest
Welcome, Guest

Login/Register

Bookmark Bookmark

Daily News Digest:14 May 2019

IMF bails out cash-strapped Pakistan with a new loan deal

Pakistan has reached an agreement with the International Monetary Fund for $6 billion bailout package.

The financial aid is an attempt to help the country strengthen its slowing economy, improve public finances and reduce debt, IMF said in a statement on 12 May.

The funding, which still needs approval by the IMF board in Washington, would be provided over three years.

The agreement comes after months of negotiations and is the latest addition to a series of bailouts that Pakistan has received from the IMF.

The Pakistani government has received financial aid from Saudi Arabia and the United Arab Emirates.

Small borrowers to get debt relief under new personal bankruptcy scheme

Small borrowers with annual income up to Rs. 60,000 are likely to get automatic relief for any unsecured loans they are unable to repay, according to a new scheme for personal insolvency resolution that the government has prepared.

The new scheme that will replace colonial era laws dealing with personal bankruptcy will also give breathing space to those who can repay loans.

The scheme prepared by the Ministry Of Corporate Affairs and the Insolvency and Bankruptcy Board of India (IBBI), which oversees the bankruptcy ecosystem, will benefit small informal financial creditors as well as partnerships and proprietorship.

National Technology Day: 11 May 2019

National Technology Day is observed on May 11 across India. It was on May 11 that India conducted its nuclear missile Shakti, also known as Operation Shakti.

The National Technology Day was coined by late Prime Minister Atal Bihari Vajpayee.

The day also marks the flight of Hansa-3, India’s first indigenous aircraft, that was flown in Bengaluru when the nuclear tests were being organized in Rajasthan.

Chinese navy launches two new guided missile destroyers

China launched two Type 052D guided missile destroyers simultaneously on 10 May in the Dalian Shipyard, Northeast China's Liaoning Province.

Their commissioning marked the 19th and 20th of launches of their kind, the report said and quoted Chinese analysts as saying that plans are afoot to build more guided missile destroyers.

It is equipped with weapons and equipment, including advanced active electronically scanned array radar systems and 64 vertical launch missile cells, the report said.

Incidence of cancer set to rise: Lancet study

Between 2018 and 2040, the number of patients requiring first-course chemotherapy annually will increase from 9.8 million to 15 million.

A study published in The Lancet, Oncology estimates that a steady growth curve of patients (eligible for chemotherapy) will be seen in low and middle income countries going from 63% in 2018 to 67% in 2040.

The most common indications for chemotherapy worldwide in 2040 will be lung cancer 16.4%, breast cancer 12.7% and colorectal cancer 11.1%.

GK of the day: Why Google, Facebook and Amazon should be under government regulation?

The influential Massachusetts senator Elizabeth Warren has been a long-time critic of the consolidation of economic power by Amazon, Google and Facebook.

Now she’s making their break-up a key component of her presidential platform. Her remarks have started a new debate about why the giant tech companies’ monopoly should be broken. Regulating the online content and the growth of tech companies have put the state machinery on the brink of perplexes.

United Nations to hold Ocean Conference 2020 in Portugal

United Nations General Assembly (UNGA) decided to hold Ocean Conference 2020 in Lisbon, Portugal from June 2 to 6, 2020 with a theme of “Scaling up ocean action based on science and innovation for the implementation of Goal 14: stocktaking, partnerships and solutions.”

It will be co-hosted by the Governments of Portugal and Kenya.

Novak Djokovic wins Madrid Open 2019 title

Novak Djokovic, the World No. 1 tennis player, won the Madrid Open 2019 title.

He defeated Stefanos Tsitsipas, the Greek tennis player, and secured 6-3, 6-4.

You might be interested:

Banking Digest, 15 May 2019

Economy The debt relief under new personal bankruptcy scheme of India will be given to Small borrowers with annual income up to - Rs. 60,000. InApril 2019, India’s consumer price index (CP ...

4 months ago

One Liners of the Day, 15 May 2019

International Pakistan has reached an agreement with the International Monetary Fund (IMF) for ….. bailout package - $6 billion. According to study published in The Lancet, the number of patie ...

4 months ago

Novak Djokovic wins Madrid Open 2019 title

Novak Djokovic wins Madrid Open 2019 title Novak Djokovic, the World No. 1 tennis player, won the Madrid Open 2019 title. He defeated Stefanos Tsitsipas, the Greek tennis player, and secured 6-3, 6-4. ...

4 months ago

United Nations to hold Ocean Conference 2020 in Portugal

United Nations to hold Ocean Conference 2020 in Portugal United Nations General Assembly (UNGA) decided to hold Ocean Conference 2020 in Lisbon, Portugal from June 2 to 6, 2020 with a theme of “ ...

4 months ago

GK of the day: Why Google, Facebook and Amazon should be under government regulation?

GK of the day: Why Google, Facebook and Amazon should be under government regulation? The influential Massachusetts senator Elizabeth Warren has been a long-time critic of the consolidation of economi ...

4 months ago

Incidence of cancer set to rise: Lancet study

Incidence of cancer set to rise: Lancet study Between 2018 and 2040, the number of patients requiring first-course chemotherapy annually will increase from 9.8 million to 15 million. A study published ...

4 months ago

Provide your feedback on this article: