Islamabad, Aug 22: During her first voyage from Romania to Pakistan, the recently commissioned Pakistan Navy Ship HUNAIN stopped in Jeddah, Saudi Arabia, and took part in a bilateral exercise with a ship from the Royal Saudi Naval Forces. According to a Pakistan Navy news release on Thursday, senior Royal Saudi Naval Forces (RSNF) and Pakistan Embassy officials greeted the ship when it arrived at the Jeddah port. While in port, Commander King Faisal Naval Base Rear Admiral Saleh Bin Abdullah Al-Amri and Commander Mansoor Bin Saood Al Jayyad of the RSNF Navy Western Fleet were visited by Commanding Officer…
Author: Iqra Khan
Islamabad, Aug 22: The surprise visit of Russian President Vladimir Putin to Chechnya has attracted a lot of attention from around the world, especially in light of a video that went viral showing him clutching and caressing a rare Quranic edition. Putin’s first visit to the area in thirteen years makes this one noteworthy, and Ramzan Kadyrov, the leader of the Chechen people, welcomed him with open arms. The two presidents had talks during the tour centered on enhancing the military, commercial, and economic ties between Russia and Chechnya. Their discussions emphasized Putin and Kadyrov’s tight relationship, which is indicative…
Islamabad, Aug 22: Leading Pakistani telecom company Ufone 4G has partnered with South Korean tech behemoth Samsung to offer smartphones to consumers through Ufone 4G’s new sales platform at cheap rates. Through the development of a dedicated webpage by Ufone 4G, where customers can easily access smartphones, voice and data bundles, and other Ufone services, this collaboration intends to build a holistic solution. Through the utilization of this collaboration, Ufone 4G customers will have better access to high-end gadgets, resulting in an enhanced digital living experience. Notably, Ufone 4G customers may now easily enjoy doorstep delivery of the mobile devices…
Islamabad, Aug 22: Data released by the central bank on Thursday showed that the State Bank of Pakistan’s (SBP) foreign exchange reserves had increased by $19 million on a weekly basis. The SBP reported that as of August 16, its foreign currency reserves stood at $9.292 billion, up $19 million from $9.273 billion on August 9. This information is based on the most recent statistics the SBP has made available, with net reserves held by banks other than the SBP included, the nation’s total liquid foreign currency reserves were $14.667 billion as of the previous week, an increase of $22…
Islamabad, Aug 22: The announcement was made by Prime Minister Shehbaz Sharif, who stated that the Islamabad Information Technology (IT) Park will be essential to reaching the lofty target of $25 billion in IT exports. At a review discussion centered on IT sector initiatives and plans to boost IT exports and encourage digitization, the prime minister was informed about the cooperative endeavors of multiple entities striving to accomplish this export goal.A comprehensive presentation on the funding being allocated to several IT industry projects was also included in the conference. It was emphasized that these investments should result in a sizable,…
Islamabad, Aug 22: The Economic Coordination Committee (ECC) of the Cabinet met today at the Finance Division under the direction of Finance Minister Senator Muhammad Aurangzeb.The Ministry of Industries & Production’s summary on the export of an additional 0.100 million MT of sugar was accepted by the committee under the following restrictions: The duration of time permitted for the export of sugar from the date of quota allocation by the relevant Cane Commissioner will be extended from forty-five (45) days to sixty (60) days due to procedural delays experienced during the export of sugar. In the case of Afghanistan, export…
Islamabad, Aug 22: A meeting of the Cabinet’s Economic Coordination Committee (ECC) was presided over by Federal Minister of Finance and Revenue, Senator Muhammad Aurangzeb, on Thursday in the Finance Division. For Operation Azm-e-Istehkam in the fiscal year 2024–2025 (FY25), the ECC approved a special allocation of Rs. 20 billion for a technical supplemental grant (TSG). The committee deliberated and granted approval for a Technical Supplementary Grant (TSG) worth Rs. 276.250 million to HQ Frontier Corps KP(N) for Project Implementation Letters (PILs), on behalf of the Ministry of Interior. Additionally, a TSG of Rs. 1951.995 million was granted for the…
Islamabad, Aug 22: Prime Minister Shehbaz Sharif announced on Thursday that Pakistan has launched a project to connect its immediate payment system, Raast, with the Arab Monetary Fund’s (AMF) Buna cross-border payment system. This will enable real-time remittances between Pakistan and the Arab world. In order to create a framework of cooperation between Rasst and Buna, which is run by the Arab Regional Payments Clearing and Settlement Organization (ARPCSO) and backed by all central banks in the Arab region, the AMF and the State Bank of Pakistan (SBP) signed a memorandum of understanding in Abu Dhabi last November. The advancement…
Islamabad, Aug 22: Today marked the triumphant conclusion of the three-day 21st Pharma Asia Exhibition, which is the region’s leading pharmaceutical exhibition, held at the Expo Centre in Karachi. E-Commerce Gateway hosted the event, which marked an important milestone in the expansion of Pakistan’s pharmaceutical business. Salman Abdullah Murad, the Deputy Mayor of Karachi, was the chief guest. Pharma Asia 2024 changed the pharmaceutical landscape of the nation by showcasing the newest breakthroughs and technologies from August 20 to 22. The occasion provided a forum for producers, suppliers, traders, distributors, legislators, and investors to get together and discuss prospects for…
Islamabad, Aug 22: President Asif Ali Zardari was briefed by Asian Development Bank (ADB) Country Director Yong Ye on Thursday’s call regarding the bank’s contribution to Pakistan’s socioeconomic development, according to ARY News. President Zardari expressed at the meeting his gratitude to the Asian Development Bank for helping Pakistan during the floods. He also outlined Pakistan’s efforts to combat climate change, pointing out that the country had millions of acres dedicated to the planting of mangrove forests.The assistance that the Asian Development Bank provided to Pakistan in the areas of irrigation, education, and agriculture was also noted by President Zardari.…
