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Pakistan's smaller textile companies are facing significant challenges due to high energy and borrowing costs, leading to production cuts and asset sales. Ghazi Fabrics International Ltd. announced a partial reduction in weaving unit output, while Nazir Cotton Mills Ltd. plans to sell outdated machinery to manage its debt.
Pakistan has requested an additional 10 billion yuan (USD 1.4 billion) loan from China, having already utilized the existing 30 billion yuan (USD 4.3 billion) trade facility. Finance Minister Muhammad Aurangzeb sought to raise the currency swap agreement limit to 40 billion yuan during discussions with China's Vice Minister of Finance, Liao Min. This request marks another attempt to increase the debt limit, which has been declined by Beijing in the past.
The global diabetic retinopathy devices market, valued at USD 12.47 billion in 2022, is projected to grow at a robust CAGR of around 30% through 2030, driven by rising diabetes cases and an aging population. Non-proliferative diabetic retinopathy is expected to dominate, while North America will lead regionally, with significant contributions from the APAC region due to its large diabetic population. Key players include F. Hoffmann-La Roche, Novartis, and Regeneron, focusing on innovative treatments and technologies.
Oppo is intensifying its focus on artificial intelligence, engaging in weekly discussions with Google and Microsoft to enhance its flagship smartphone with advanced AI features. The company aims to integrate generative AI into 50 million devices this year, while also automating its manufacturing processes to improve efficiency and reduce costs. With a significant portion of its revenue coming from overseas markets, Oppo is positioning itself as a key player in the global smartphone industry amidst the growing demand for AI applications.
A viral video by Pakistani content creator Rana Hamza Saif showcases China's innovative palm payment system, Weixin Palm Payment, developed by Tencent. Filmed in Zhuzhou, it demonstrates how users can make purchases simply by scanning their palm over a sensor, processing transactions in seconds. This biometric technology allows registered users to pay effortlessly at various locations across China.
Pakistan's finance minister reported encouraging discussions with China regarding the extension of debt maturities linked to the Belt and Road Initiative. This move aims to alleviate financial pressure on the country, which has seen electricity prices triple in recent years, surpassing some household rents.
Digital financial technologies can enhance environmental, social, and governance (ESG) performance in healthcare by facilitating funding for sustainable projects. Policymakers are urged to support FinTech startups and strengthen ESG governance frameworks to promote financial inclusion and investment opportunities aligned with UN Sustainable Development Goals. However, the study's limitations highlight the need for broader research across various sectors and regions to better understand the impact of FinTech on sustainability.
PAK
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
pakistan textile firms face production cuts and asset sales amid economic strain
14:09 29.10.2024
Pakistan seeks additional 10 billion yuan loan from China amid financial crisis
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10:33 27.10.2024
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