Business Archives - Page 6 of 20

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 […]

Pakistani Ambassador provides extensive overview to Chinese groups and enterprises on trade and investment

Islamabad: Pakistan’s Ambassador to China, Khalil Hashmi, this week provided an extensive overview to Chinese groups and enterprises regarding trade and investment prospects across diverse sectors in Pakistan, including agriculture, energy, infrastructure, transportation, and logistics. Sharing insights from a highly fruitful roundtable session on trade and investment cooperation held in Chengdu, Sichuan province, Ambassador Hashmi […]

EU Ambassador Dr Riina Kionka encourages Pakistan to maximize benefits of GSP plus status

Celina Ali Karachi: EU Ambassador Dr Riina Kionka emphasized this week that Pakistan should fully exploit the Generalized System of Preferences Plus (GSP Plus) status during a meeting organized by the Karachi Chamber of Commerce and Industry. Ambassador Kionka urged Pakistan to broaden its exports beyond textiles to the European Union, taking full advantage of […]

China calls for stabilizing ties with US

Xu Wei Beijing: China reaffirmed its commitment to building a stable, healthy and sustainable relationship with the United States this week, with its top diplomat calling on both sides to assume the vision and role befitting major countries to give the world “rock-solid certainty and positive energy”. Addressing a reception commemorating the 45th anniversary of […]

Indonesia targets exports to China at over US$65 billion in 2024

Jakarta: The Indonesian Government targets this year’s exports to China at around US$65 – 70 billion, said Director General of National Export Development at the country’s Ministry of Trade Didi Sumedi. He said that total exports to China during January-November 2023 stood at US$56.57 billion, and the whole year’s value is projected to reach some […]

Tourism Taxes: What travellers need to know for 2024

Brussels: Travellers are expected to pay higher tourism taxes to several European destinations in 2024 as national economies try to boost local economies and support sustainability. According to a 2020 report by Group NAO and GDS-Movement, more countries are imposing tourism taxes lately, especially in the US and Europe, SchengenVisaInfo.com reports. Guy Bigwood from the […]

Ambassador Andreas Ferrarese vows to strengthen Pakistan-Italy economic ties

Celina Ali Islamabad: Italy’s Ambassador to Pakistan Andreas Ferrarese has said that to strengthen their economic ties, Pakistan and Italy are eyeing an expansion of their bilateral trade and investment relations. Despite a current bilateral trade volume of approximately one billion euros, the envoy emphasized that this figure does not truly reflect the potential both […]

Greece hailed again as global economic ‘country of the year’

Athens: The Economist rated Greece as the top-performing economy in 2023. Euronews Business breaks down the study and considers how the rest of Europe performed last year. Greece led The Economist’s annual ranking of rich-world economies in 2023. The study gathers data on five indicators: “core” inflation – which excludes volatile components such as energy […]

To Washington: Don’t let fear of China prevail

Ding Gang People are eagerly anticipating the arrival of peace in the New Year because it is still something that the world lacks. The term “peace” has two meanings in English: One refers to safety and freedom from war and violence, while the other pertains to a state of tranquility, devoid of worry, problems, noise, […]

Pakistan expects huge investments from China: Commerce Minister

Newswire Karachi: Caretaker Federal Minister for Commerce, Industries and Production Dr Gohar Ejaz said this week that Pakistan was expecting huge investments from china. He reiterated the government’s commitment to economic revival and that measures envisaged by the Special Investment Facilitation Council (SIFC) would start a new phase of industrialization in the country. The minister […]

‘Roadmap for Cooperation’ between Pakistan and Italy another feather in Ambassador Andreas Ferrarese’s crown

Celina Ali Islamabad: Italy’s Ambassador to Pakistan Andreas Ferrarese, with unwavering dedication, played a central role in orchestrating the recent historic ‘Roadmap for Cooperation’ between Pakistan and Italy. His diplomatic prowess and tireless efforts paved the way for a comprehensive agreement covering Trade & Investments, Heritage, Culture, Climate Change, Agriculture, Higher Education, Technical Cooperation, and […]

Forging synergies: A tale of alliance and partnership

Celina Ali Islamabad: In 2023, the United States and Pakistan strengthened their partnership for mutual benefit. USAID played a pivotal role in this success, consistently supporting the pursuit of a prosperous, healthier, safer, and more robust Pakistan. Through various collaborations, projects, and programs, USAID contributed significantly to Pakistan’s development goals. The United States through USAID […]

Controlling technology transfer to counter India’s illegal treatment toward Chinese companies

Ding Gang India has taken a strong stance against Chinese companies by banning Chinese apps, freezing the funds of Chinese companies and arresting their executives. Why is India so emboldened? The reason is that India’s mobile phone market has a lot of potential. Apple plans to shift 25 percent of its production to India by […]

China leads in scale of digital economy in Asia: Report

Newswire Beijing: China is far ahead in the digital economy in terms of scale with its value reaching 7.47 trillion U.S. dollars in 2022, according to the Asia Digital Economy Report 2023 released this week. According to this report, issued during an event in Beijing by Li Baodong, secretary-general of Boao Forum for Asia, Japan […]

Saudi Arabia, Indonesia collaborate to elevate the assurance of halal products

Jakarta: Saudi Arabia and Indonesia signed a memorandum of understanding (MoU) on Halal product assurance cooperation in addition to the mutual recognition of each other’s Halal certificates. The agreement was signed between Indonesia’s Halal Product Assurance Organizing Body (BPJPH) and the Saudi Food and Drug Authority. Importantly, the agreement also expands to cooperation in training, […]

Restructuring China-US relations in 2024 is fraught with uncertainties

Global Times As the calendar turns from page to page, we stand at the door of a new year, with a glimmer of optimism amid tensions in the US-China relationship. Two recent developments cast a bright light of hope for the future: the advancement of direct US-China military talks and the possible resumption of narcotics […]

Vivo won’t be the only one ‘deeply shocked’ by India’s behavior

Global Times It was reported by India media that the Indian authorities recently arrested three employees of the Indian branch of the Chinese mobile phone manufacturer, vivo, in the name of so-called combating financial crimes. Vivo stated it was “deeply shocked.” This is at least the third time since October of this year that Indian […]

China, Vietnam to boost cooperation

Global Times Beijing: This year marks the 15th anniversary of the establishment of the China-Vietnam comprehensive strategic cooperative partnership. High-level interactions between the two countries have been frequent, and exchanges in various fields such as the economy and trade have been increasing. At the end of November, the 12th meeting of the China-Vietnam Economic and […]

Pakistan witnesses unprecedented surge in sesame seed exports to China

Gwadar Pro Islamabad: In October 2023, Pakistan experienced a remarkable surge in sesame seed exports to China, reaching an unprecedented high of 64,711 tons valued at USD 113.66 million, a substantial increase from the 16,728 tons worth USD 25.57 million in the same month the previous year, a senior Pakistani diplomat said. Ghulam Qadir, the […]

Sustainable policies to promote investment: Riina Kionka

Celina Ali Islamabad: Dr Riina Kionka, ambassador and head of the delegation of the European Union to Pakistan said this week that Pakistan is a potential market for business and investment activities and it should focus on sustainable economic policies to attract more foreign investment. She said this while talking to a delegation of the […]

Iran and Saudi Arabia to negotiate on direct scheduled flights

Newswire Dubai: Iran and Saudi Arabia will start formal talks next week to resume direct scheduled flights between Tehran and Riyadh and other cities, an Iranian official told the state-affiliated news agency ILNA this week. Regular flights would be another step towards restoring ties between the two Middle Eastern rivals. A Chinese-mediated agreement in March […]

China and EU: Mutual respect leads to common prosperity

Dong Yifan The 24th China-EU Summit, marking the first in-person meeting between Chinese and European leaders in four years, was held on Thursday in Beijing. The significance of this face-to-face interaction cannot be overstated, considering its influential role in guiding China-EU relations. However, the European Union, in its approach to the development of China-EU relations, […]

Pakistan’s exports to China up by 40.36%

Gwadar Pro Islamabad: Pakistan’s exports to China went up by 40.36% in the last four months, State Bank of Pakistan (SBP) said. The SBP reported that Pakistan’s export of goods and services to China witnessed an increase of 40.36 per cent during the first four months of the current fiscal year (2023-24) as compared to […]

Kazakh envoy says huge potential exists for Pakistan’s textile industry

Newswire Lahore: Yerzhan Kistafin, Ambassador of the Republic of Kazakhstan to Pakistan, said this week there is huge potential for Pakistan textile industry in $ 2 billion Kazakhstan textile imports, as the current contribution from Pakistan is yet negligible. He urged Pakistani textile groups to focus on high value products which are more in demand […]

Vow – Japan slows inflation without raising interest rates

Newswire And the Japan has been able to lower the inflation with a controversial but well-thought policy. Proof is a latest Reuters poll which shows that the core consumer inflation in Tokyo likely grew in November but at slower pace than the month before. Tokyo: Japan has been under attack launched by Western media for […]

TikTok incident shows US struggles to define relations with China

Global Times On November 30, a federal district judge in Montana issued a preliminary injunction calling off the state’s ban on TikTok. Montana is the first state in the nation to initiate a ban on TikTok, announced by the state government on May 18 this year to block TikTok completely, with heavy fines for violators. […]

250 Pakistani and Chinese companies to participate in Pakistan Industrial Expo

Gwadar Pro Lahore: At least 250 Pakistani and Chinese companies participated in the three-day 7th Pakistan Industrial Expo held on November 25 at the Expo Centre. Steve Zhou, Project Head of Everest International Expo, announced this year’s expo featured approximately 250 Pakistani and Chinese companies. They showcased a wide array of products and services, highlighting […]

Pakistan, Italy work jointly for development of olive sector

Celina Ali Islamabad: Pakistan and Italy are working jointly for the development of the olive sector, marked by the Pakistan Olive National Gala in Islamabad. The event, organized by the “Promotion of Olive Cultivation on commercial scale in Pakistan Phase-II” and the Italian-funded “Olive Culture-Holistic and multi-professional mechanism for a Pakistani Olive Oil Value Chain” […]

Iranian Ambassador Reza Amiri Moghadam visits FPCCI

Newswire Karachi: Irfan Iqbal Sheikh, President FPCCI, has apprised that, in a high-profile visit to FPCCI Head Office, Reza Amiri Moghadam, Ambassador of Iran in Pakistan, has proposed to set up border markets with Pakistan to enhance trade between the two countries. Sheikh added that enhancing trade with Iran can help resolve Pakistan’s chronic trade […]

Kazakhstan’s economy shows steady growth

Newswire Astana: Prime Minister of Kazakhstan Alikhan Smailov, leaders of top international companies, and experts reviewed Kazakhstan’s emerging opportunities and challenges in building investment infrastructure for long-term sustainable growth as part of the Kazakhstan Global Investment Roundtable (KGIR) this week in Astana. In his welcoming speech, Smailov said that “despite the current global challenges, Kazakhstan’s […]

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