Latest news with #KhurramShahzad
Business Recorder
6 days ago
- Business
- Business Recorder
Panda Bond: MoF makes pre-marketing initiatives
ISLAMABAD: Representatives of the Ministry of Finance, government of Pakistan, have initiated a series of pre-marketing investor meetings in Beijing, China, from July 7 till 11, 2025, as part of a non-deal investor road-show (NDR) in preparation for Pakistan's debut Panda Bond issuance, said Adviser to Finance Minister Khurram Shahzad. The adviser posted on X that the Ministry of Finance delegation has held technical discussions with potential investors, underwriters, prospective guarantors, Chinese Rating Agency, and Chinese legal counsel. Meetings are focused on Pakistan's macroeconomic review and outlook, ongoing debt management reforms, and the structure and progress of the proposed Panda Bond transaction. Discussions also covered regulatory processes, credit enhancement arrangements, and investor interest in the forthcoming issuance. The NDR drew strong initial interest, signalling investor confidence in Pakistan's reform trajectory and its growing credibility in international capital markets. Copyright Business Recorder, 2025
Business Recorder
19-06-2025
- Business
- Business Recorder
MoF signs 1bn loan facility backed by ADB guarantee
ISLAMABAD: The Ministry of Finance has signed a syndicated term finance facility of $1 billion partially guaranteed by a policy based guarantee of the Asian Development Bank (ADB)'s Programme 'Improved Resource Mobilization & Utilisation Reform'. An official statement by the Finance Ministry stated that Dubai Islamic Bank acted as the sole Islamic global coordinator while Standard Chartered Bank acted as the mandated lead arranger and book runners. Other financiers include Abu Dhabi Islamic Bank as the mandated lead arranger and Sharjah Islamic Bank, Ajman Bank and HBL as arrangers. The facility is a landmark transaction for the Government of Pakistan that demonstrates strong support from leading financiers in the region. ADB approves $800m financing for Pakistan This is a 5-year multi-tranche facility including both Islamic and conventional tranches. The Islamic facility was structured to be fully compliant with AAOIFI standards, and accounts for 89 per cent of the total financing amount. The remaining 11 per cent is from conventional financing. The transaction is also the first facility supported by ADB's Policy-Based Guarantee linked to policy reform measures undertaken by an ADB Member Country, i.e. Pakistan. The ADB Program is designed to support Pakistan to build long-term fiscal resilience and stability and has supported Pakistan's re-entry into international commercial markets, with significant interest from Middle Eastern Banks. Government of Pakistan has entered into the Middle Eastern financial market after nearly two and a half years, success of which indicates the renewed trust of the market in the fiscal stability and the overall improvement in the macroeconomic indicators of Pakistan. This transaction also marks the beginning of new partnership of Government of Pakistan with Middle Eastern banks, the Ministry added. Federal Minister for Finance Muhammad Aurangzeb recently stated that they have gone back to the commercial market in this fiscal year and are in the process of syndicating around $2 billion of commercial borrowing and expecting to shore up reveres from the current around $11-12 billion to $14 billion by end of the current fiscal year. Advisor to Finance Minister Khurram Shahzad, took to X formerly Twitter, and stated that Pakistan signed landmark financing deal with Middle Eastern banks backed by ADB - back into global markets after 2.5 years. Pakistan secures $1 billion landmark financing with ADB-backed guarantee and strong Middle Eastern banks' support. Government of Pakistan re-enters global markets with $1 billion syndicated financing. Pakistan attracts strong Middle East financing after 2.5 years. ADB-backed deal signals market confidence in Pakistan's economic reforms. This multi- tranche Islamic-conventional competitive financing deal with regional banks shows fiscal reform gains traction'. Copyright Business Recorder, 2025
BBC News
17-06-2025
- Sport
- BBC News
Paceman Gibbon signs new Worcestershire contract
Left-arm fast bowler Ben Gibbon has signed a new two-year contract with 25-year-old former National Counties seamer has been at New Road since the start of the 2022 agreed a three-year deal in March 2023 but will now stay with the Pears until at least the end of the 2027 has taken 49 wickets in 20 first-class matches for Worcestershire, and 13 in nine List A games, but has yet to feature in the first team this season. "I am absolutely delighted to be staying on at Worcestershire, this club has become home for me over the last couple of years," Gibbon said."I am really keen to develop my skillset, and ultimately, get into a position to challenge for trophies with this team."Despite Gibbons' limited first-team chances, head coach Alan Richardson said he had "shown his potential every time he has been called upon"."He possesses some great qualities which provide our bowling attack with something slightly different," he added."His height and his left-arm nature make him a real threat to batters at the crease."Gibbon is the second Worcestershire player to sign a new deal recently after all-rounder Ethan Brookes agreed a three-year contract on 11 seamer Khurram Shahzad, meanwhile, will join the club early next month for the rest of the season.
Yahoo
12-06-2025
- Sport
- Yahoo
Worcestershire sign Pakistan seamer Shahzad from July
Khurram Shahzad made his Test debut against Australia in December 2023 and made his latest appearance against West Indies in January [Getty Images] Worcestershire have agreed a deal to sign Pakistan seamer Khurram Shahzad from early next month until the end of the season. The 25-year-old, who taken 20 wickets in six Tests, will join the Pears from 4 July and replace New Zealand fast bowler Jacob Duffy, who is set to leave at the end of June. Advertisement In addition to the final five County Championship matches, Shahzad will also be available for the One-Day Cup campaign and last six group games, at least, of the T20 Blast. "Joining a club like Worcestershire and getting the chance to enhance my skills is something I am really excited by," Shahzad said. "I have always had ambitions to play in England, so this was a chance I was desperate to take." Head coach Alan Richardson said Shahzad was a "fantastic" signing and the club were "thrilled to have someone with his experience and skillset on board". "Not only will he give us tremendous option with his ability to swing the ball and bowl in excess of 80mph on a regular basis, his experience around the dressing room with some of the younger bowlers will be invaluable," he said. Advertisement Shahzad has taken 201 wickets in his first-class career at an average of 26, and picked up 111 in 87 matches in List A and T20 cricket. He is set for his Worcestershire debut against Yorkshire in the T20 Blast at Headingley on 4 July.
BBC News
12-06-2025
- Sport
- BBC News
Worcestershire sign Pakistan seamer Shahzad from July
Worcestershire have agreed a deal to sign Pakistan seamer Khurram Shahzad from early next month until the end of the 25-year-old, who taken 20 wickets in six Tests, will join the Pears from 4 July and replace New Zealand fast bowler Jacob Duffy, who is set to leave at the end of addition to the final five County Championship matches, Shahzad will also be available for the One-Day Cup campaign and last six group games, at least, of the T20 Blast."Joining a club like Worcestershire and getting the chance to enhance my skills is something I am really excited by," Shahzad said., external"I have always had ambitions to play in England, so this was a chance I was desperate to take." Head coach Alan Richardson said Shahzad was a "fantastic" signing and the club were "thrilled to have someone with his experience and skillset on board"."Not only will he give us tremendous option with his ability to swing the ball and bowl in excess of 80mph on a regular basis, his experience around the dressing room with some of the younger bowlers will be invaluable," he has taken 201 wickets in his first-class career at an average of 26, and picked up 111 in 87 matches in List A and T20 is set for his Worcestershire debut against Yorkshire in the T20 Blast at Headingley on 4 July.
