Business Archives - Page 3 of 16

Pakistan highlights pharmaceutical collaboration with SCO countries

China Economic Net Suzhou: “The 2nd SCO Pharmaceutical Cooperation Development Conference has demonstrated the commitment of member states to foster international cooperation in the pharmaceutical industry. Through this platform, SCO member states aim to promote mutual benefits, strengthen regulatory frameworks, encourage research and development collaboration, and expand market access,” highlighted Mr. Asim Rauf, CEO of […]

UK economy grew faster than estimated since Covid

Covert Report London: The UK’s economy has grown faster since the start of the Covid pandemic than initially thought, new figures show. Revised data indicates that the UK has seen faster growth than France or Germany since the end of 2019. The growth figures had been expected to be upgraded, after the Office for National […]

Pakistan, Saudi Arabia sign deal to cooperate in IT sector

Liaquat Ali Islamabad: Pakistan this week signed a memorandum of understanding (MOU) with Saudi Arabia to work together in the field of information technology (IT), caretaker IT minister Umar Saif informed. The understanding will facilitate Pakistani companies to work in the Kingdom of Saudi Arabia (KSA), provide trained IT manpower to Saudi companies, promote joint […]

AFM Nong Rong says China-Pak coop to positively impact entire Pakistan population

Gwadar Pro Islamabad: Chinese Assistant Foreign Minister Nong Rong this week stressed the importance of China and Pakistan fostering mutually advantageous collaborations that would positively impact the entire Pakistan’s population, including those residing in the Balochistan province. During a meeting with a delegation of journalists from Balochistan, Minister Nong maintained that the enduring friendship between […]

China-Arab Expo: A platform for showcasing construction innovations under BRI

China Economic Net Beijing: The Sixth China-Arab States Expo promotes high-quality joint construction of the Belt and Road Initiatives, and makes greater contributions to south-south cooperation, said Shaikh Muhammad Shariq, Vice President of the National Bank of Pakistan. China-Arab Expo: A platform for showcasing construction innovations under BRI Addressing a conference themed with the theme […]

EU likely to extend Pakistan’s GSP status amid growing trade relations

Liaquat Ali Islamabad: The European Union (EU) is currently deliberating the extension of Pakistan’s Generalized System of Preferences (GSP) status for an additional four years, until 2027. The decision to extend these trade privileges, which grant Pakistan preferential access to EU markets, follows the endorsement of recommendations by the European Council and is currently under […]

A frank, sincere China-EU dialogue urgently needed on economic, trade issues

Global Times The 10th China-European Union High-Level Economic and Trade Dialogue will be held on Monday in Beijing. As the highest-level dialogue mechanism in the field of trade and economic cooperation between China and the EU and one of the “three pillars” of China-EU relations, the Dialogue has always been the main channel for the […]

China to impose sanctions on two US companies over Taiwan arms sales

China Economic Net Beijing: China has decided to impose sanctions on two US companies due to their involvement in arms sales to Taiwan, Foreign Ministry Spokesperson Mao Ning said this week. In disregard of China’s firm opposition, the U.S. government deliberately supplies weapons to China’s Taiwan region. This seriously violates the one-China principle and the […]

Business
EU

EU regulator slaps TikTok with $368m fine for violating privacy laws

Arslan Ali Arsal Brussels: The European Union’s lead regulator has slapped TikTok with a 345 million euro ($368m) fine for breaching laws on the processing of children’s personal data, the first time the popular short video-sharing app has been punished for violating Europe’s strict data privacy rules. The Chinese-owned short-video platform, which has grown rapidly […]

Not only Huawei, but the whole Chinese industrial chain should overcome US sanctions

Hu Xijin The most significance of the Huawei Mate 60 Pro lies in its ability to bypass the US sanctions wall and open up new horizons. The sanctions imposed by the US on Huawei and Chinese companies may now be extended to companies such as Qualcomm, Nvidia, Intel, TSMC, Samsung, and others. If it is […]

Pakistan, Kazakhstan agree to enhance regional economic integration

Celina Ali Islamabad: Pakistan and Kazakhstan this week agreed to enhance regional economic and trade integration for increasing bilateral trade. Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan Yerzhan Kistafin called on Federal Minister for Commerce Dr Gohar Ejaz here. Both sides expressed their commitment to fostering stronger economic ties with the aim of […]

Qatar to fund $4bn UK green research hub

Newswire London: Qatar is set to announce a $4 billion investment in UK green energy development through the establishment of a research hub, the Sunday Times reported. The nonprofit Qatar Foundation is providing the funding, with Rolls-Royce supplying technical knowledge as part of the deal. Global management consultancy McKinsey is also involved in planning the […]

EU takes aim at Russian ‘cynicism’ on Black Sea grain deal at G20

Newswire Brussels: The European Union castigated Russia this week for pulling out of the Black Sea grain deal, calling its offer of a million tons of grain to African countries a “parody of generosity”. Charles Michel, president of the European Council, told the annual G20 summit in New Delhi that the 2022 grain accord had […]

Huawei’s success: beyond tech, about values

Ding Gang At the end of 2019, I accompanied an American and German media delegation to the offices of Chinese tech giant Huawei. Although it was only for one day, this brief encounter gave me a deeper understanding of this company. In May of the following year, when Washington imposed a severe embargo to cut […]

Italy eager to strengthen economic ties, ambassador Andreas Ferrarese

Celina Ali Islamabad: Italy’s Ambassador to Pakistan Andreas Ferrarese said this week that his country wanted to boost trade ties with Pakistan. In a media interaction, he said Pakistan and Italy had chosen to strengthen economic ties and reinforce cooperation in diverse fields, besides deepening mutual collaboration on issues of common interest. The Ambassador called […]

Ambassador Adam Tugio encourages entrepreneurs to expand business with Indonesia

Abida Shaheen Lahore: Indonesia is an exciting market for aspiring Pakistani entrepreneurs and new startups with innovative ideas, offering wonderful opportunities of mutual collaboration and business expansion. This was stated by the Ambassador of Indonesia Adam M. Tugio during a meeting with young business entrepreneurs of Entrepreneurs’ Organization (EO) from textile, fintech, healthcare, food, dairy, […]

China adjusts housing credit policies

China Economic Net Beijing: China’s financial watchdogs announced this week that housing credit policies will be adjusted and optimized. The interest rates of existing mortgages for first-home purchases will be lowered, according to a joint statement released by the People’s Bank of China and the National Administration of Financial Regulation. Starting from Sept. 25, borrowers […]

Italy: Armani stages star-studded fashion spectacle in Venice

Arslan Ali Arsal Venice: Italian fashion designer Giorgio Armani brought sparkle and stars to the canal city on Saturday with a “One Night Only” fashion show coinciding with the 80th Venice Film Festival. The 89-year-old designer put on a playful, cinema-inspired show for his celebrity guests. His Armani Prive collection was built around harlequin-patterned couture […]

Consultation, not a trade war, will settle bilateral disputes

Zhao Huanxin The trade friction between the United States and China does not signify a tipping point in the Sino-US relationship, experts have said, even though the two countries have slapped tariffs on billions of dollars of each other’s goods. After the conclusion of the hearings on the US administration’s proposal to impose 25 percent […]

First successful transit of dry fruits from China to Afghanistan through Pakistan under TIR agreement celebrated

Abdullah Jan Gilgit: A celebratory function was held here to mark the first successful transit of the shipment of dry fruits from China to Afghanistan through Pakistan under the Transports Internationaux Routiers (TIR) agreement. The ceremony, held at Sost area, saw the presence of important dignitaries, including the Director of Transit Trade Peshawar, the Deputy […]

Pakistan needs energy reforms to break free of debt: US official

Celina Ali Islamabad: Pakistan needs to undertake energy reforms and opt for renewable energy sources, said a senior US official, stressing that reforms suggested by the International Monetary Fund (IMF) would help Islamabad break the “vicious circle of debt and international financing”. Principal Deputy Assistant Secretary Elizabeth Horst, who heads the Bureau of South and […]

Qatar Airways passengers to get free entry to Expo 2023 Doha

Newswire Doha: Qatar Airways has unveiled plans to distribute complimentary admission passes to all global visitors for the entirety of the much-anticipated Expo 2023 Doha, in which three million visits are expected. The event’s official airline announced the move in a bid to draw global interest and showcasing Qatar as an attractive travel hotspot. The […]

UK government considering short-term visa scheme for EU workers

Liaquat Ali London: The UK government is considering establishing a short-term visa programme that would help bring foreign workers into the country without affecting population rates and tackling labour shortages in the hospitality sector. According to reports by The Times, the Home Office has initiated negotiations with some EU countries for more youth mobility schemes […]

Typical Western economic study misses real ‘vigor’ of Chinese people

Ding Gang “Will China, under deflation, go the way of the Soviet Union?” I laughed when I saw this title.This title was given by Professor Xu Chenggang, a senior research scholar at the Stanford Center on China’s Economic and Institutions.Decades after China has developed from a poor and backward country to the second-largest economy in […]

US’ ban on high-tech investment cannot stifle China’s high-tech development

Hu Xijin US President Joe Biden signed an executive order on Wednesday restricting investments in China, intended to further stymie China’s advances in three cutting-edge technology areas: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems. The “decoupling” of high tech from China began under Donald Trump, and the Biden administration has continued […]

Ambassador Andreas Ferrarese optimistic about Pakistan-Italy trade ties

Liaquat Ali Islamabad: Ambassador of Italy to Pakistan Andreas Ferrarese has expressed optimism about Pakistan-Italy trade ties. In a media interaction, he said Pakistan and Italy have a potential of € 4 billion mutual trade and it was possible with joint efforts of two governments and private areas cooperation. The Ambassador for the first time […]

Qatar Charity implements income-generating projects in Pakistan

Newswire Lahore: Qatar Charity (QC) has recently implemented 36 income-generating projects in Pakistan’s Punjab to enhance the income of vulnerable families. The projects, which included grocery shops and livestock, were implemented in Jhang and Muzaffargarh districts in Punjab. Under the projects, 20 grocery shops were set up and handed over to 20 beneficiaries — 10 […]

BRICS digital economy cooperation should rise above obstacles to gain new ground

China Daily The 15th BRICS summit is scheduled to take place in South Africa on Aug 22 to 24, with the theme “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism”. The upcoming summit will push the global agenda to refocus on development issues and prompt the international community to return […]

Pakistan, UK reaffirm commitment to enhance cooperation in diverse fields

Celina Ali The British High Commissioner to Pakistan Ms Jane Marriott, called on Caretaker Foreign Minister Jalil Abbas Jilani in Islamabad on Friday. During the meeting, the High Commissioner congratulated Jalil Abbas Jilani on assuming the office of the Foreign Minister. They also discussed enhancing bilateral cooperation in trade, investment, climate change and people-to-people contacts. […]

Trade with Italy surges 97%

Pakistan exported goods, services worth $1.15b to Italy in FY23 Arslan Ali Arsal Islamabad: Pakistan’s goods and services trade with Italy recorded a surplus of 97.11% during fiscal year 2022-23 as compared to the previous year. Trade surplus came in at $624.518 million in FY23 against $316.995 million a year ago, showing a growth of […]

Belgium wants to enhance trade ties with Pakistan, says envoy

Arslan Ali Arsal Peshawar: Ambassador of Belgium to Pakistan Charles Delogne has said that his country wants to improve diplomatic and bilateral trade relations with Pakistan. Addressing a gathering of business persons at Sarhad Chamber of Commerce and Industry here on Thursday, he said that cordial diplomatic and trade relations were established between the two […]

Business
EU

EU ice cream production grew by 5% in 2022

Newswire Islamabad: In 2022, the EU produced 3.2 billion litres of ice cream, marking a 5% increase from the previous year. Among the EU countries, Germany was the main producer of ice cream in 2022, producing 620 million litres of ice cream, followed by France (591 million litres) and Italy (571 million litres). As well […]

Indonesian Ambassador hosts productive meeting with EO

Abdullah Jan Islamabad, August 16, 2023: H.E Mr. Adam M. Tugio, Indonesian Ambassador to Pakistan warmly welcomed a delegation from the Islamabad chapter of Entrepreneurs’ Organization (EO) for a trade talk. The meeting explored avenues for collaboration between the young entrepreneurs and business communities of the two countries. Ambassador Tugio expressed his appreciation for EO […]

The coming BRICS currency diversification

China Daily The pressure toward the diversification of world currency reserves is longstanding. It intensified after 2008, but has escalated since 2022. It is a prime topic in the next BRICS Summit that’s likely to further intensify the trend. In 2016, US Treasury Secretary Jack Lew cautioned that “the more we condition the use of […]

CPEC 10 years: SBP releases Rs 100 commemorative coin

Newswire Karachi: To mark the 10th anniversary of the China-Pakistan Economic Corridor (CPEC), the State Bank of Pakistan (SBP) has released a Rs 100 commemorative coin. The coin shall be issued through the exchange counters of SBP Banking Services Corporation from August 11, 2023, said a statement issued by the SBP. The government of Pakistan […]

CPEC: Shehbaz Sharif awards Chinese companies for promoting investment in Pakistan

Newswire Islamabad: Prime Minister Shehbaz Sharif has awarded the Chinese companies for promoting investment in Pakistan. The Prime Minister recognized and rewarded the best Chinese companies that are working on projects in Pakistan under the China-Pakistan Economic Corridor (CPEC). Speaking at an award ceremony, Shehbaz Sharif said that the Chinese government and companies have helped […]

Qatar’s current account surplus to remain in double digits this year and next: Oxford Economics

Liaquat Ali Qatar’s current account surplus will remain in double digits this year and in 2024, Oxford Economics said in its latest country update. The surplus widened to over 26% of GDP in 2022, Oxford Economics noted. Oxford Economics expects Qatar’s overall GDP to grow by 2.6% this year and next. Non-oil activity is continuing […]

August 6, 2023August 10, 2023 by Covert

CPEC turns Pakistan into regional hub

Beijing: Project hailed for uplifting country’s economy, international connectivity The China-Pakistan Economic Corridor has proved to be a “fate changer” for Pakistan and the region, uplifting Pakistan’s economy, as well as regional and international connectivity, said academics, civil servants and business people. A mega project by national, regional and international standards, the CPEC was initiated […]

August 6, 2023August 10, 2023 by Covert

$30bn Chinese investment transformed Pak economic landscape: PM

Abdullah Jan Islamabad: Prime Minister Shehbaz Sharif has said that China had so far invested a valuable $30 billion under China Pakistan Economic Corridor (CPEC) which had really transformed the economic landscape in Pakistan. Addressing an award ceremony in Islamabad, the prime minister assured Chinese companies and investors that the “difficult time for them is […]

August 6, 2023August 10, 2023 by Covert

Japanese govt hosts Pakistan Investment Seminar to foster bilateral trade ties

Newswire Islamabad: The Government of Japan, in collaboration with the Japan External Trade Organization (JETRO), on Tuesday held Pakistan Investment Seminar in Tokyo as part of ongoing efforts to foster international trade and investment ties between both countries. The seminar was inaugurated by Executive Vice President of JETRO Mr. Kazuya Nakajo, who emphasized the strategic […]

August 6, 2023August 10, 2023 by Covert

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