Conditions notified for availing export package

Mubarak Zeb Khan ISLAMABAD: The Ministry of Commerce on Thursday notified conditions for availing Prime Minister’s Export Enhancement Package for the year 2017-18. In this regard, the Commerce Division issued a notification SRO1062 for non-textile products. A similar notification for textile products will be issued by the Textile Division shortly. The notification is part of…

Unconditional bank guarantees: ‘like cash in the bank’. But not always …

Cooper Grace Ward It is common in construction and commercial leasing transactions for a party to provide an unconditional bank guarantee to secure the performance of their contractual obligations. An unconditional bank guarantee is widely regarded as being ‘like cash’. Courts are reluctant to restrain the calling for and making of payment under an unconditional…

BankThink The role banks can play in ending global poverty

By Aron Betru Christopher Lee With the World Bank-International Monetary Fund annual meetings this week occurring just after the U.N. General Assembly, international development advocates have been pressing for a dramatic increase in private-sector investment to improve the quality of life in emerging and developing nations. The U.N. meetings focused on the “sustainable development goals” (SDGs), with…

8 Lending Terms That Every Entrepreneur Must Know

By Jared Hecht If you’re just beginning your hunt for business financing, you’re likely knee-deep in unfamiliar terms and lending jargon. And it’s enough to make even the most eager entrepreneur feel overwhelmed. Don’t continue your search without reviewing a few of the essential terms you need to know to make an informed decision about financing your…

Switching Aircraft To Be Used As Collateral To Secure Qantas Airline $350M Loan

By: Reuters Qantas Airways is raising A$350 million ($272 million) from a loan that allows it to switch the types of aircraft used as collateral, in what bankers and analysts said is the world’s first aviation financing of this type. The loan is the first of a series under a loan facility programme set up by…

Letter of Credit needed to back new electricity generation plants in Nakuru County

By Macharia Kamau The Government is looking for a bank to back three firms awarded the tender to construct new electricity generation plants in Nakuru County. The selected bank will issue a letter of credit to the three independent power producers, bringing the geothermal power project back on track after years of waiting. Quantam Power…

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