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Pakistan to get 4.5G services by June 2017

ISLAMABAD: (Web Desk) Wi-tribe has announced the launch of 4.5G services, for the first time in Pakistan, which will be made operational by June 2017 in five cities of the country.According to a private news channel, wi-tribe revealed a $15 million contract and strategic partnership with China based Huawei for advanced …

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Granted $6.4b in loans, Pakistan fails to utilise $4.6b

ISLAMABAD: (Web Desk) Pakistan has failed to utilise $4.6 billion or almost three-fourths of the $6.4 billion in loans the Asian Development Bank (ADB) gave for various projects, and is paying extra charges on ‘idle money’. Usual bureaucratic inefficiencies, startup delays and extremely complex procedures defined by the ADB for awarding …

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CPEC’s pros, cons should be measured carefully: experts

LAHORE: (Web Desk) Gallup Pakistan CEO Dr Ijaz Shafi Gilani said that the China-Pakistan Economic Corridor (CPEC) should also be evaluated in light of the country’s relations with the rest of the world.In a discussion among experts, Gilani stated that if not threaded with utmost precision, the CPEC might hamper …

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Stocks bleed as KSE-100 Index loses more than 500 points

KARACHI: (Web Desk) The Pakistan Stock Exchange started the week on a bearish note, with the benchmark KSE-100 Index losing 536 points, or 1.09pc, by the end of trading to reach 48,655.72. Volumes were led by the engineering sector, followed by refinery and commercial banking stocks, as the benchmark index …

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Trade gap widens by 35pc to $20.2bn

ISLAMABAD: (Web Desk) The merchandise trade deficit rose nearly 35 per cent year-on-year to $20.202 billion in the first eight months of the current fiscal year. The trade deficit has been on an upward trajectory for many years owing to the liberalisation of the import regime while exports continue to …

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China-Russia Cooperation to ‘Be Equally Auspicious in the Future’

BEIJING: (Web Desk) China’s new commerce minister predicted an auspicious cooperation between Beijing and Moscow in the future.Cooperation between China and Russia is currently very successful and will continue to develop in a similar manner in the future, new Chinese Commerce Minister Zhong Shan said Saturday. “Bilateral cooperation between Russia …

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Reconstituted PSX board holds first meeting

KARACHI: (Web Desk) The maiden meeting of Pakistan Stock Exchange’s (PSX) reconstituted board of directors was held on Friday, with four seats occupied by the Chinese consortium which holds 40 per cent equity in the bourse. Chinese directors included Que Bo of Shanghai Stock Exchange, Zheng HU of China Financial …

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Pakistan Stock Exchange closes week in the red

The Pakistan Stock Exchange (PSX) ended the week on a negative note, with the benchmark KSE-100 index losing 200.69 points, or 0.41 per cent, by close of trading to reach 49,154.57. The index could not sustain gains made in a late rally in the second session of the day, rapidly …

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Chinese firms to invest $35bn in 19 power projects

ISLAMABAD: (Web Desk) Chinese companies will be investing $35 billion in 19 power projects which will generate 12,134 MW of electricity under the China Pakistan Economic Corridor (CPEC) project, said Secretary Water and Power, Mohammad Younis Dagha on Thursday. During a presentation to the Public Accounts Committee (PAC), Mr Dagha …

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