Business Archives

China’s pivotal role in replicating highly successful experience of hybrid rice in Pakistan highlighted

Gwadar Pro Lahore: Pakistan Hitech Hybrid Seed Association (PHHSA) Chairman Shahzad Ali Malik this week highlighted China’s pivotal role in replicating the decades-long highly successful experience of hybrid rice in Pakistan. He emphasized the immense potential of hybrid seeds in achieving import substitution and fostering surplus production for export in various crops, including cotton, wheat, […]

April 20, 2024April 20, 2024 by Covert

Oversupply? Market, not Washington, has the answer

Ding Gang What is overproduction? Who should determine the surplus of a commodity on the international market? As US Treasury Secretary Janet Yellen has left Beijing, she leaves behind the above two questions that linger in the future of the two country’s trade relations and pose a significant challenge to the order of the international […]

April 20, 2024April 20, 2024 by Covert

US should not politicize trade issues, Premier Li tells Yellen

Wang Cong and Chi Jingyi Beining: Chinese Premier Li Qiang this week met with US Treasury Secretary Janet Yellen in Beijing, where he urged the US to work with China to adhere to the basic norms of the market economy of fair competition and open cooperation, and refrain from politicizing or overstretching the concept of […]

April 14, 2024April 14, 2024 by Covert

Pakistan’s export of goods and services to China up by 42.02% in eight months

Gwadar Pro Islamabad: Pakistan’s export of goods and services to China witnessed an increase of 42.02% during the first eight months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) announced on Tuesday afternoon. The overall exports to China were recorded […]

April 14, 2024April 14, 2024 by Covert

Zong, Zindigi join hands to elevate digital financial services in Pakistan

Gwadar Pro Islamabad: In a significant move towards financial digitization in Pakistan, Zindigi, powered by JS Bank, has entered a strategic partnership with Zong, the China-based leading telecommunications provider in Pakistan. This collaboration aims to provide seamless and innovative digital financial solutions, reinforcing the shared vision of both entities to drive financial inclusivity and digital […]

April 14, 2024April 14, 2024 by Covert

EU ends antitrust probe into fashion designers

Newswire Brussels: The European Union’s antitrust regulators have announced the termination of a two-year-long investigation into a group of fashion designers, citing “priority reasons,” the European Commission revealed this week. The competition watchdog had initiated the investigation in May 2022, conducting raids on several fashion companies amid concerns of potential participation in a cartel to […]

April 14, 2024April 14, 2024 by Covert

Italy sees debt ‘surely’ staying below 140% of GDP this year

Newswire Rome: Italy’s government expects debt this year to “surely” stay below 140% of gross domestic product. Speaking to reporters on the sidelines of the Ambrosetti Workshop in Cernobbio, Italy, Finance Ministry undersecretary Federico Freni said the country’s expected growth will be “around 1%” in 2024. Last Friday, the Bank of Italy said the country’s […]

April 14, 2024April 14, 2024 by Covert

France eyes Swiss money for new nuclear power plants

Paris: Power from the French plants will be exported to neighbouring countries, so France believes those countries should help pay help pay for their construction. According to NZZ am Sonntag, this idea was mooted by French foreign ministry officials during a press briefing with European journalists at the end of March. “France considers it opportune […]

April 14, 2024April 14, 2024 by Covert

Building a promising future for Portugal

Paulo Lopes Lisbon: Normally I don’t dare to write about politics, but as I look to the future of my country it is up to me to give myself some impetus, to show what I think should be one of the main goals and challenges of the new rulers. Because as we look to Portugal’s […]

April 7, 2024April 7, 2024 by Covert

Punjab CM orders policy formulation to export buffalo meat, milk to China

Gwadar Pro Lahore: Punjab Chief Minister Maryam Nawaz this week ordered policy formulation to export buffalo meat and milk to China. In a meeting on the Livestock Department, the CM reviewed the livestock related measures. The CM stressed that only vaccinated and tagged cattle would be brought to cattle markets and slaughterhouses, adding that authentic […]

April 7, 2024April 7, 2024 by Covert

Huawei launches new solar product in Lahore

Lahore: Punjab Provincial Minister of Industry and Commerce Chaudhry Shafay Hussain visited Raya Golf and Country Club Defence this week and attended the launching ceremony of a new solar product by the Chinese company Huawei as a special guest. Alongside officials from the Chinese company, the provincial minister jointly launched the new solar product. The […]

April 7, 2024April 7, 2024 by Covert

CCP to sign MoU on China’s SAMR

Newswire Islamabad: The Competition Commission of Pakistan (CCP) is preparing to put in place a comprehensive legal and regulatory framework, said an official announcement. The CCP said China had made significant investments in Pakistan through the China-Pakistan Economic Corridor (CPEC) and various Chinese companies operating in the country. “This investment is expected to increase manifold […]

April 7, 2024April 7, 2024 by Covert

Inflation lower in Italy than rest of Europe

Rome: Italy’s inflation rate rose to 1.3% in March compared to a year ago, albeit at a slower pace than anticipated. There’s perhaps no better example of a ‘soft landing’ than the current state of the Italian economy. While Italy’s economic activity has significantly decelerated from the elevated post-pandemic growth rates observed in 2021 and […]

April 7, 2024April 7, 2024 by Covert

Ambassador Baloch highlights trade, investment opportunities in Pakistan’s textile sector

Brussels: Ambassador of Pakistan to European Union, Belgium and Luxembourg Amna Baloch this week said that there were numerous trade and investment opportunities available to foreign firms in Pakistan’s multiple sectors. The ambassador, addressing a webinar on opportunities in Pakistan’s textile sector, emphasized the government’s commitment to facilitating them through the Special Investment Facilitation Council […]

April 7, 2024April 7, 2024 by Covert

France warns of strong-arm industry to boost missile output

Rudy Ruitenberg ParisL: The French government this week threatened local defense firms with measures including requisitioning and order prioritization to accelerate the production of missiles and artillery shells. Armed Forces Minister Sébastien Lecornu said he may force firms to put defense orders before civilian ones in coming weeks if manufacturing doesn’t speed up, especially for […]

April 7, 2024April 7, 2024 by Covert

European enterprises eye investment opportunities in China

China Economic Net Wuhan: The 2024 Cherry Blossom Viewing: Business Cooperation & Fortune Global 500 with Hubei, a talk platform, held a series of activities this week in Wuhan, central China’s Hubei Province, with an eye on international cooperation between European enterprises and Hubei. More than 600 attendees, including diplomatic envoys, representatives of domestic and […]

March 31, 2024March 31, 2024 by Covert

Pakistan exports to EU states fall despite GSP+ status

Newswire Islamabad: Pakistan’s exports to European countries have begun to dip in the current fiscal year despite a GSP+ status that allows duty-free entrance into European markets for the majority of its products. In absolute terms, Pakistan’s exports to European countries dipped year-on-year by 6.89 per cent in the first eight months of the current […]

March 31, 2024March 31, 2024 by Covert

Pakistan and China share a long and storied friendship: Umar Rehman Malik

Abdullah Jan Islamabad: Pakistan People’s Party (PPP) leader Umar Rehman Malik said this week that Pakistan and China share a long and storied friendship. “The PPP starting with #SZAB (Zulfikar Ali Bhutto) has been at the forefront of fostering and further strengthening this relationship,” he said. Umar Rehman Malik added: “Asif Ali Zardari who conceived […]

March 24, 2024March 24, 2024 by Covert

Kazakhstan strengthens China-Russia trade links with railway expansion

Astana: Kazakhstan Railways is bolstering its presence in both China and Russia to cement the Central Asian state’s role as a hub for both Europe- and Russia-bound freight rail traffic originating in East Asia. Kazakh President Kassym-Jomart Tokayev, speaking via video link, inaugurated a Kazakhstan Railways (KTZ) logistics and innovation center in the central Chinese […]

March 24, 2024March 24, 2024 by Covert

Ambassador Marilina Armellin appreciates progress on Olive Culture Project

Celina Ali Islamabad: The 4th Steering Committee meeting for the “OliveCulture – Holistic and Multiprofessional Mechanism for a Pakistani Olive Oil Value Chain” Project convened this week in Islamabad, marking another significant step towards enhancing Pakistan’s olive sector. Chaired by Muhammad Asif, Federal Secretary of the Ministry of National Food Security & Research, Government of […]

March 24, 2024March 24, 2024 by Covert

Ukraine to receive 6 billion euro from EU in next two months, says PM

Kyiv: Ukraine will receive €6 billion from the European Union via its four-year Ukraine facility in the next two months, Prime Minister Denys Shmyhal said this week. The government expects to receive €4.5 billion in March and another €1.5 billion in April, Shmyhal told a government meeting. “This year, we aim to receive about €16 […]

March 17, 2024March 17, 2024 by Covert

Venice Simplon-Orient-Express offers luxury train travel from Paris to Italy

Newswire Venice: A new luxury train route from Paris to Portofino on Italy’s Ligurian coast will become a reality this summer courtesy of the Venice Simplon-Orient-Express. The three-night experience includes one night on board the iconic train followed by a two-night stay at the five-star Splendido, A Belmond Hotel, overlooking the Gulf of Tigullio in […]

March 17, 2024March 17, 2024 by Covert

Regarding US TikTok plunder, ByteDance must not back down

Hu Xijin According to the Wall Street Journal on March 9, former Activision CEO Bobby Kotick approached ByteDance to express interest to buy TikTok and floated the idea of partnering with CEO of OpenAI Sam Altman and others. ByteDance responded on Sunday stating that this report is not true. ByteDance cannot back down this time; […]

March 17, 2024March 17, 2024 by Covert

Pakistan expects bumper yield of cotton crops this year with China’s help: Official

Faisalabad: Pakistan is expecting a bumper yield of cotton crops this year with the help of China, a senior official said. Deputy Director (DD) Agriculture (Extension) Chaudhry Khalid Mehmood said that the early cultivation of cotton crops would give bumper yield and play a pivotal role to stabilize the national economy. Addressing a farmers’ day […]

March 3, 2024March 3, 2024 by Covert

Abbottabad team wins UK HC-hosted NFYE

Celina Ali Islamabad: The team from Abbottabad this week won the National Final Award for Young Entrepreneurs (NFTE) with their business idea of making printed materials accessible to the visually impaired. Prince’s Trust International’s global research into the future of work showed that a quarter of young people in Pakistan are interested in entrepreneurship for […]

March 3, 2024March 3, 2024 by Covert

EU must find ‘enormous amount’ of money to face global challenges, says Draghi

Brussels: The European Union needs to invest an “enormous amount of money in a relatively short time” to deal with the deep challenges the bloc is facing, former European Central Bank President Mario Draghi said this week. Draghi, who has been tasked with producing a high-level report on the EU’s competitiveness, met with EU ministers […]

March 3, 2024March 3, 2024 by Covert

Garment plants show China’s economic transformation

Ding Gang There is a popular term in China called “Zhuangshan”, which means that someone else is wearing the same clothes as you. If you see the videos of Chinese New Year, tens of thousands of Chinese people are celebrating together, but very few of them dress the same. When the American table tennis team […]

March 3, 2024March 3, 2024 by Covert

Zong, Batik sign agreement encompassing GSM Connectivity

Newswire Islamabad: Chinese giant Zong 4G and Batik this week signed a formal agreement encompassing GSM Connectivity, Attendance Management Solutions, and Push to Talk devices for their dispersed workforce stationed throughout Pakistan. Batik Clothing is a renowned Pakistani clothing brand with a presence in seven major cities of Pakistan, said a news release. The brand […]

Zibo’s barbecue craze will not easily cool down amid China’s booming holiday economy

Yu Ning You may not believe this, but during the Spring Festival holidays, the first meal I craved upon returning to my hometown was not a homemade meal cooked by my parents, but the Zibo barbecue. Yes, my hometown is Zibo, located in East China’s Shandong Province. Just last year, the city was transformed from […]

China-funded mega solarization project inaugurated in Balochistan

Gwadar Pro Quetta: Balochistan Caretaker Chief Minister Mir Ali Mardan Khan Domki inaugurated the China-funded mega solarization project this week, aimed at converting various public department buildings, including educational institutions, healthcare facilities, and civic departments, to renewable energy sources. The China-funded project will provide clean, affordable, and uninterrupted power supply to the government departments. With […]

Pakistan exhibitors show substantial presence at Texworld Evolution Paris

Newswire Islamabad:With a total of 19 enterprises, the Pakistani exhibitors show a substantial presence and impact at the internationally acclaimed trendsetting innovative ‘Texworld Evolution Paris’. The three-day exhibition that opened on February 5 with over 1300 companies from around the globe catering tofuture vogue and sourcing requirements remained the central attraction for global fashion and […]

87% of Japan firms say paternity leave averages less than 3 months

Tokyo: More than 80 percent of major firms saw male employees take child-care leave of less than three months over the past year while female employees got longer leave times, a recent Kyodo News survey showed, underscoring the dominant role women continue to play in child-rearing in Japan. In the survey that covered 113 companies […]

US urged to reduce trade curbs on China

Yifan Xu Beijing: An economist in the United States has expressed concern that the country will restrict trade with China in goods unrelated to national security, such as electric vehicles and batteries. “The US government should dramatically reduce the scope of Section 301 tariffs and carefully explain the rationale for any new national security trade […]

European Union agrees on new $54bn aid package for Ukraine

Newswire Brussels: All 27 European Union countries have agreed on an additional 50-billion-euro ($54bn) aid package for Ukraine, despite threats from Hungary to veto the move. “We have a deal,” European Council President Charles Michel said in a post on X, just an hour into a special summit of EU leaders in Brussels. Michel said […]

Greece, UAE sign memorandum for data center investments in Greece

Athens: Greece and the United Arab Emirates (UAE) signed a memorandum of collaboration in Abu Dhabi this week for the promotion of investments in digital infrastructure in Greece. Signing the memorandum were Greek Digital Governance Minister Dimitris Papastergiou and UAE Investments Minister and CEO of ADQ, Mohamed Hassan Alsuwaidi. The memorandum specifically foresees the construction […]

PTCL, Huawei conduct 50G-PON trial to pioneer next generation fiber optic broadband in Pakistan

Gwadar Pro Islamabad: The country’s leading broadband service provider Pakistan Telecommunication Company Limited (PTCL) in partnership with Huawei, a global leader in information and communication technology, this week completed the country’s first successful trial of 50G-PON technology, marking a historic stride towards the introduction of next-generation fiber-optic broadband services in Pakistan. This groundbreaking achievement is […]

China Southern Airlines to resume Urumqi-Kashgar-Islamabad route after 15-year suspension

Gwadar Pro Islamabad: China Southern Airlines, a flag carrier of China, will resume the Urumqi-Kashgar-Islamabad route on January 27. The resumption of service comes nearly 15 years after the route was suspended in July 2009. The flight for the Urumqi-Kashgar-Islamabad round trip, numbered CZ8019/20, is scheduled to be carried out every Saturday. The outbound flight […]

High Commissioner Zahid Hafeez Chaudhri vows to enhance export of Pakistani sports goods to Australia

Canberra: Pakistani High Commissioner to Australia Zahid Hafeez Chaudhri vowed to enhance export of Pakistani sports goods to Australia. “Had a very productive virtual meeting with the Chairman and Secretary General of Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA) Agreed on a roadmap to enhance export of Pakistani sports goods to Australia,” he posted […]

Nepal ships 1st batch of exports under transit deals with China

Newswire Kathmandu: Nepal started the first batch of exports this week under transit deals with China, five months after the South Asian country shipped its first batch of imported goods via the northern neighbor. Instant noodles were set to be shipped to Japan via the Tianjin port in northern China. “The continuity of exports through […]

Nvidia’s ‘downgraded chips’ for China not a long-term solution: Global Times editorial

Global Times According to foreign media reports, US chipmaker Nvidia plans to begin mass production in the second quarter of 2024 of an artificial intelligence (AI) chip it designed for China to comply with latest US export rules. The sources said that it was originally scheduled for launch last November but that plan was delayed […]

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