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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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. […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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$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 […]

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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 […]

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Indonesia set to conduct evaluation for visa-free entry

Abdullah Jan Islamabad: Indonesia will conduct an evaluation regarding visa-free entry next month as the country aims to attract tourists but with sustainability in focus. The country’s tourism minister Sandiaga Uno said Indonesia will consider granting visa-free entry for foreigners based on the three criteria of “reciprocity, usefulness, and security,”. The minister noted after attending […]

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EU lawmaker points to mental health risks for online services’ addictive design

Abida Shaheen A European Parliament draft report about online services’ addictive design paints a damning picture of the mental health consequences of excessive screen time and calls for new EU rules to address the problem. Addictive design, which refers to capturing users’ attention so they spend as much time on platforms as possible, has been […]

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EU approves Chips Act aiming to double semiconductor market share by 2030

Abida Shaheen The Council of the European Union approved a regulation to strengthen Europe’s presence in the world of semiconductors, better known as “Chips Act”. The legislation aims to create better conditions for European countries to get into semiconductor manufacturing, attract investments, promote research and innovation and prepare the continent for any future supply chain […]

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UK government backs high-speed electrified rail in Turkiye

Celina Ali London: The UK government, through its export credit agency UK Export Finance, has underwritten a loan worth €781m ($867m) to a multi-national construction company to finish a high-speed railway in southern Turkiye. The electrified rail line will connect Mersin with Gaziantep, via Adana and Osmaniye. It is a Turkish government project, tendered to […]

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Indonesian ambassador meets indomie team at indonesian embassy in Islamabad

Celina Ali H.E Mr. Adam M. Tugio, Indonesian Ambassador in Pakistan was delighted to have fellow Indonesian colleagues from the Indomie team at the Indonesian Embassy in Islamabad. The event marked a joyous celebration of flavorful collaboration, further strengthening the bond between Indonesia and Pakistan. Calling all food enthusiasts in Pakistan! Indomie, the iconic Indonesian […]

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Saudi Arabia and Pakistan at ‘very advanced stage’ of finalizing $14 billion oil refinery deal —Dr. Musadik Malik

Celina Ali Islamabad: Saudi Arabia and Pakistan are on the verge of finalizing a game-changing $14 billion deal for an advanced oil refinery, expected to boost the South Asian state’s crude oil processing capacity, according to an exclusive conversation with the country’s petroleum minister on Saturday. The multibillion-dollar state-of-the-art oil refinery project, with a capacity […]

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Australian investors ready to invest in Pakistan: Zahid Hafeez Chaudhri

Canberra: Pakistani High Commissioner to Australia Zahid Hafeez Chaudhri said this week that Australian investors were ready to invest in Pakistan. “Had an excellent meeting with Mr Michael Carter, Head of International Trade & Investment Centre, Chamber of Commerce & Industry of Western Australia,” he tweeted. The envoy added: “Large mining companies from WA are […]

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$50 billion investment expected from Gulf states in five years in Pakistani agri initiative — PM

Liaquat Ali Islamabad: Pakistani Prime Minister Shehbaz Sharif said on Monday the South Asian nation expected around $50 billion investment in the next five years, primarily from Gulf states, under a new green initiative in the agriculture sector. Pakistan last week established a Land Information and Management System Center of Excellence ((LIMS-CoE) to enhance modern […]

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Italy’s luxury groups set aside rivalries to keep it local

Newswire Milan: Italy’s luxury fashion groups, which for decades jealously guarded their independence, have started teaming up to protect their supply chains and the Italian roots of smaller companies, showing a new spirit of collaboration. Control of the supply chain has become increasingly important for luxury brands, ensuring products get to shops on time and […]

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