France plans huge investment in hotel, auto industry

LAHORE: France is planning a huge investment in hotel and auto sectors in Pakistan in near future and all the modalities in this regard are being finalised. This was stated by the French Ambassador Regis De Belent while speaking at Lahore Chamber of Commerce & Industry on Monday. He further said that two high-powered delegations are scheduled to visit Pakistan, first, in the end of the current month while the second team would visit next month to have first-hand knowledge about the...

Chinese firm gets new Gwadar airport contract

ISLAMABAD (November 07 2006): The federal government has decided to award the contract of new Gwadar International Airport (NGIA) to a public sector Chinese company, the China Harbour Engineering Company (CHEC), which will execute the project in the shortest possible time on fast track turnkey basis, official sources told Business Recorder here on Monday. However, the Civil Aviation Authority (CAA) would be responsible for design review and supervision of the project, ensuring that the new...

$500m UAE fund for Pakistan planned

ISLAMABAD, Nov 5: A group of Dubai-based investors has decided to create a $500 million �Pakistan Infrastructure Fund�, especially to help improve energy, transport, power, health and sanitation sectors.

�This fund will be officially launched at the end of the three-day World Islamic Economic Forum,� said Dr Marcus Fedder, the fund�s chairman.

He told this correspondent that its basic objective would be to promote public-private partnership for offering funding to...

Economic forum begins today

ISLAMABAD, Nov 4: The second session of the three-day World Islamic Economic Forum (WIFE) will open here on Sunday with the theme of “unleashing the potential of emerging markets”.

The forum, being organised by the government of Pakistan and the Asian Strategy and Leadership Institute, is bringing together heads of state, business leaders, political elite, etc.

WIFE, founded in 2003 as the OIC Business Forum, is an independent organisation committed to...

Full-scale FTA signing with China this month: Irritants remain

KARACHI, Nov 4: Pakistan and China are signing a full-scale Free Trade Agreement (FTA) in last week of this month when Chinese President Hu Jintao visits Pakistan at the head of a big delegation.

But businessmen in Pakistan have strong reservations on the list of items finalised bilaterally for FTA and they also want certain irritants to be removed before going ahead.

The biggest irritant is quarantine conditions in China which has restricted shipment of mangoes and other...

Free trade accord with Malaysia

ISLAMABAD, Nov 4: Malaysian Prime Minister Abdullah Ahmad Badawi said on Saturday a number of agreements and MoUs on cooperation in tourism, counter-terrorism and partial abolition of visa arrangements were being negotiated between his country and Pakistan.

Speaking at a banquet hosted by Prime Minister Shaukat Aziz at Prime Minister House on Saturday, Mr Badawi hoped that the agreements would further enhance the bilateral collaboration in various fields and bring the two countries...

Bulls return with a bang, KSE gains 301 points

By our correspondent

KARACHI: The delay in the implementation of new regulatory measures at the country�s bourses placed all the equity players (right from regulators to investors) in a �win-win� position as the index not only restored 11,000 crucial level, but also closed well above 11,200.

KSE 100-share index regained 301.36 points to 11,246.71 and also registered healthy turnover at 286.462 million shares as compared to 196.859 million shares a day earlier.

4 operators asked to submit bids by Dec 4: Gwadar Port

By Parvaiz Ishfaq Rana

KARACHI, Nov 3: The government has asked the four pre-qualified port operators to submit their bids by December 4 so that the handing over of Gwadar Port operations is finalised by the policy board headed by the Prime Minister Shaukat Aziz before the end of current year.

The Gwadar Port Implementation Authority (GPIA) had invited Expressions of Interest (EoIs) on October 16 and in short period of four days (on October 21) approved four companies out...

German diplomat vows to raise trade to $2bn

KARACHI, Nov 3: Consul General of Federal Republic of Germany Hans-Joachim Kiderlen has expressed confidence that his country�s business and economic relations would attain a new peak and the two-way annual trade volume will touch the $2 billion mark.

�The trade balance is at present in our favour and we realise that it is not a sustainable relationship and we are keen to see imports from your side go up,� remarked Mr Kiderlen on Thursday evening at a welcome dinner hosted by...

Pak attaches great importance to its relations with Russia: Aziz

Islamabad: Prime Minister Shaukat Aziz has said Pakistan attaches great importance to its relations with Russia and wants closer economic ties and enhanced cooperation in a broad spectrum of areas particularly in the fields of oil, gas, petrochemical and steel.

He was talking to a Russian Delegation led by Mr. Mikhail L.Golubev, President EST. a leading fertilizer company of Russia who called on him here Tuesday.

Prime Minister said there is a great potential for closer...