Islamabad, Aug 5: It is positive that the new fiscal year has begun with an emphasis on economic stability and improvement. But the much-needed expansion of the economy has not materialized. However, PM Shahbaz has made it clear in his meetings with the Special Investment Facilitation Council (SIFC) that the nation is committed to removing obstacles in order to draw in capital investment, particularly in the energy sector. The Federal Government’s privatization strategy is receiving a lot of attention, and DISCOs are always at the top of the list. Federal Minister Awais Leghari has taken a practical stance amidst the…
Author: Iqra Khan
Islamabad, Aug 5: Maersk Shipping Line of Denmark is set to invest $2 billion in port, terminal, dredging, transshipment, and road construction infrastructure in Pakistan over the next two years, marking a significant economic growth for the country. The Federal Minister for Naval Affairs, Qaiser Ahmed Sheikh, made this declaration during a press conference in Karachi. He declared that the government-to-government Memorandum of Understanding (MoU) between Denmark and Pakistan had been authorized by the federal cabinet. In order to sign the agreement between the two nations, the Minister of Ports and Shipping will travel to Denmark in August. According to…
Islamabad, Aug 5: A merger in the real estate industry has been allowed by the Competition Commission of Pakistan (CCP). Under the terms of the Share Purchase Agreement, Enaara Properties Rawalpindi Ltd would purchase all of the shares of Sprint Services Rawalpindi Ltd. A publicly traded, unlisted organization, Sprint Services Rawalpindi is involved in the development of commercial real estate. It is the owner of a retail center in a desirable area in Rawalpindi. Two people and a private limited company called FYC (Pvt) Ltd are among its principal shareholders. On the other hand, Enaara Properties is a holding company…
Islamabad, Aug 5: The number of foreign investors in China’s commercial real estate market is declining, and those that remain are concentrating on specialized techniques like eco-friendly projects. According to MSCI, cross-border transactions into China’s commercial real estate from January to June 2024 came to $3.3 billion, a 13% drop from the same period the year before. With $3.7 billion in acquisitions, Japan dominated the Asia Pacific market despite a 35% fall in transactions. Less impacted by geopolitical concerns, Singaporean investors continued to be the leading foreign purchasers of China’s commercial estates, with purchases totaling over 6.9 billion yuan ($1…
Islamabad, Aug 5: Suzhou, once known as a city of textile in ancient China, has established itself as an industrial hub in China’s economic landscape.This transformative image was featured during the recent Pakistan Investment and Trade Conference held jointly by the Consulate General of Pakistan in Shanghai and local authorities and enterprises in Suzhou, underscoring the city’s potential for Pakistan-China collaboration across various sectors. Consul General of Pakistan in Shanghai, Shehzad Ahmad Khan said Suzhou, a historic treasure nestled beside Shanghai, has emerged as a beacon of modern development and a key hub for international collaboration. “My initial encounter with…
Islamabad, Aug 5: Quantum Cloud and Artificial Intelligence (AI) Monday announced a strategic alliance with Huawei Cloud Pakistan, aimed at fast-tracking the adoption and implementation of cloud and AI technologies across Pakistan. This collaboration is set to bring innovative solutions tailored to meet the specific needs of Pakistani businesses and government, driving the nation’s digital transformation forward. Management of both organizations underscores the commitment to leverage their respective strengths. Quantum Cloud & AI brings extensive international expertise in cloud & AI based on their experience in the UK and USA, while Huawei offers world-class and local expertise in cloud services…
Islamabad, Aug 5: Ethiopia and Pakistan have discussed signing of a bilateral political consultation agreement by end of this year to foster deeper cooperation at bilateral, regional and multilateral levels for addressing global challenges. The signing of the agreement came under discussion during a meeting between Special Envoy and Ambassador Extraordinary and Plenipotentiary of Ethiopia, Jemal Beker Abdula and Ministry of Foreign Affairs’s Additional Secretary (Africa) Ambassador Hamid Asghar Khan on Monday. Both sides agreed to sign the agreement at the earliest possible time which will help create an institutional mechanism for both the countries to work together at bilateral,…
Islamabad, Aug 5: Since the government is required by law to announce the employment of the new Vice Chancellor three months prior to the retiring Vice Chancellor, the federal government has not started the process of selecting the new Vice Chancellor of the Pakistan Institute of Development Economics (PIDE). As per the PIDE Act, in accordance with section 12 sub-part (4) of the PIDE Act 2010, the Vice Chancellor post at PIDE was supposed to be advertised by July 15, 2024. Planning Commission Notification No. 2(151)/Admn-IV/PDR/2018, dated October 9, 2019, appointed Dr. Nadeem ul Haque as Vice Chancellor. His five-year…
Islamabad, Aug 5: Cement despatches down 6.81% in July 2024, which was the 11th consecutive month of drop.According to specifics, the All Pakistan Cement Manufacturers Association’s statistics shows that, in July 2024, total cement despatches decreased to 3.010 million tons from 3.230 million tons in the same month the previous year. Local cement dispatches experienced a sharp decline of 11.41%, from 2.780 million tons in July 2023 to 2.463 million tons. Nonetheless, there was a favorable change in exports, which went from 449,792 tons in July 2023 to 547,162 tons in July 2024, a 21.65% increase. Regional performance presents a…
Islamabad, Aug 5: Pakistan Beverage Limited (PBL), a frontrunner in the Beverage industry, has achieved a groundbreaking digital transformation by implementing SAP’s S/4HANA on-premise solution. This significant move towards an on-premise solution is a testament to PBL’s commitment to innovation and growth, setting a benchmark within the industry. The transition, executed entirely in-house, stands out as a unique greenfield implementation, rarely seen in the corporate landscape. The culmination of this strategic initiative was celebrated in Karachi, with the presence of PBL’s senior management including Mr. Syed Sohail Ahmed, Senior Director Transformation and Strategy. Unlike the usual practice of engaging…
