Philippines Current Affairs - 2019

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Pakistan to issue Panda Bonds to raise capital in China

The government of Pakistan has decided to launch Panda Bonds to raise loans from Chinese capital markets. Launching of Panda Bonds is part of Pakistan’s plans to move towards giving the Chinese currency, a status at par with that enjoyed by the US dollar. The interest rates and the size of the bonds would be decided at a later stage.

The Finance Ministry of Pakistan has said that the Panda Bonds are part of its multipronged approach for bridging the foreign financing needs and building foreign exchange reserves. Panda Bonds will help Pakistan to diversify the investor base of capital market issuance and provide a source of raising renminbi.

China is Pakistan’s largest trading partner. Pakistan has the highest trade deficit with China. The raising of capital in Chinese currency will aid Pakistan to bridge the deficit.

Panda Bonds

Panda bonds are Chinese renminbi-denominated bonds from a non-Chinese issuer, sold in the People’s Republic of China. The first two Panda bonds were issued in October 2005 on the by the International Finance Corporation and the Asian Development Bank on the same day.

The Philippines issued its inaugural Panda bonds in 2018. It was the first ASEAN member to issue Panda bonds.

Month: Categories: International

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Catriona Gray from Philippines wins Miss Universe 2018 Title

Catriona Elisa Gray from the Philippines was crowned as the Miss Universe 2018, beating 93 contestants from other countries. She was crowned by Demi Leigh Nel-Peters from South Africa, the Miss Universe 2017 title winner.

India was represented by Nehal Chudasama in the beauty pageant. Nehal Chudasama failed to enter the final 20 of the Miss Universe 2018 competition. After  Lara Dutta had won the crown in 2000, no Indian contestant has been able to win the Miss Universe title in all these 18 years.

About Miss Universe 2018:

  • Tamaryn Green from South Africa and Sthefany Guterrez from Venezuela were the first runner-up and second runner-up at Miss Universe 2018 competition.
  • Spain’s Angela Ponce created history as the first transgender woman to participate in the Miss Universe beauty pageant.
  • The event was hosted by Emmy Award-winning comedian Steve Harvey.
  • Miss universe 2018 Catriona Elisa Gray has a Master Certificate in Music Theory. She also works as an HIV/AIDS advocate and volunteers at an NGO as a teacher’s assistant.
  • The countries of Armenia, Kyrgyzstan and Mongolia participated for the first time in the Miss Universe competition.

This was the 67th edition of the Miss Universe pageant. Miss Universe 2018 was held at in Nonthaburi Province, Thailand on 17th December 2018.  For the first time, the competition was judged by an all-women jury. Total 94 countries participated in the competition.

Month: Categories: Persons in News

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