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Author Archives: CT Report

National Aviation Policy to boost aviation sector’s growth

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KARACHI: Secretary Aviation Shahrukh Nusrat Saturday said that National Aviation Policy (NAP) 2019 prepared in line with the directions of Prime Minister Imran Khan and recently approved by the federal cabinet would help boost the industry. The NAP will also help overcome the challenges being faced by the Aviation industry in the country. Addressing a press conference at Civil Aviation ... Read More »

NAB sends Hamza questionnaire ahead of appearance on April 30

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LAHORE: The National Accountability Bureau (NAB) has sent Opposition Leader in the Punjab Assembly Hamza Shehbaz a questionnaire ahead of his scheduled appearance before the bureau’s probe team on April 30. The PML-N leader has been summoned in connection with a probe into his alleged assets beyond known source of income. The bureau had previously summoned and interrogated him twice ... Read More »

PM Imran discusses bilateral ties With Ethiopian counterpart

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BEIJING: Prime Minister Imran Khan held a bilateral meeting with Ethiopian Prime Minister Abiy Ahmed Ali on the sidelines of the 2nd Belt and Road Forum here on Saturday. The two prime ministers exchanged views on the broad range of bilateral matters. Prime Minister Imran Khan underscored the importance Pakistan attached to further intensifying multi-dimensional ties with the African Continent. ... Read More »

China’s Belt and Road should only go where sustainable: Lagarde

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BEIJING: China’s massive Belt and Road infrastructure programme should only go where it is needed and where the debt it generates can be sustained, International Monetary Fund (IMF) Managing Director Christine Lagarde said. In brief remarks to nearly 40 world leaders and other high-ranking officials at China’s second Belt and Road summit in Beijing, Lagarde said the program to build ... Read More »

‘Allowing Afghan Transit Trade can unleash full potential of Gwadar port’

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GWADAR: Trained as a mechanical engineer from the Balochistan University of Engineering and Technology, Mir Naveed Baloch is a member of the Pakistan Engineering Council since 2003. Following his engineering education, he ventured into diversified commercial interests such as real estate; and shipping, transport & freight. Currently, he is serving his third term as the President of Gwadar Chamber of ... Read More »

Pilot project of low cost houses to start in villages: CM Buzdar

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LAHORE: Punjab Chief Minister Sardar Usman Buzdar presided over a meeting of Punjab Housing Task force on Saturday and reviewed the progress on Prime Minister’s Naya Pakistan Housing Programme. Addressing the meeting, the chief minister said that low-cost houses would be constructed in different districts of the province under Prime Minister’s Naya Pakistan Housing Programme. It was a revolutionary project ... Read More »

Govt set to decide long-term LNG deal with Qatar

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ISLAMABAD: Qatar has emerged as the front-runner for a long-term gas supply deal to Pakistan, a senior government official said on Saturday, with the cabinet of Prime Minister Imran Khan set to decide in the coming weeks on an agreement. Pakistan, with 208 million people, is running out of domestic gas and has turned to liquefied natural gas (LNG) imports ... Read More »

DRAP to continue action on sale of overpriced medicines

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ISLAMABAD: Drug Regulatory Authority of Pakistan (DRAP) has decided to continue its action against pharmaceutical companies on increasing rates of medicines against the approved prices of the federal government. According to an official of DRAP, the government had decided to take strict action against un-authorised increase in prices of some medicines by pharmaceutical companies. He said that the pharma industry ... Read More »

Positive sentiments to prevail in stock market during next week

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KARACHI: Positive sentiments likely prevail in the stock market during next week owing to visit of Prime Minister Imran Khan to China and arrival of IMF team to Pakistan. Analysts at Arif Habib Limited said that with Prime Minister Imran Khan currently on a four day visit to China, several agreements are expected to be signed between both the countries. ... Read More »

Customs Preventive to hold auction of impounded vehicles on April 30

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KARACHI: Collectorate of Customs Preventive will hold public auction of impounded vehicles on April 30, 2019 at NMB Wharf, Ghasbandar, East Wharf, Karachi. Following vehicles will be presented for the auction: Mitsubishi Pajero Jeep, Reg. No. GS-2000, Model 1994, Chassis No. V46-4034791 Toyota Lexus Car, Model 2006, Reg. No. UC-868, Chassis No.JTHBG 963905034702 Toyota Harrier Jeep 2999CC, Model 1998, Reg. ... Read More »

Sharjah Biennial features work by two Brazilian women

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São Paulo – The 14th Sharjah Biennial (SB14), in the UAE, features previously unseen work by two Brazilian artists – Aline Baiana and Laura Lima. The exhibition opened on March 7 and will continue until June 10, featuring work by 80-plus artists. This year’s theme is Leaving the Echo Chamber. The Biennial comprises three exhibits, curated by Zoe Butt (Vietnam), ... Read More »

Weak South Korean economy and cooling North Korea ties threatening Moon Jae-in’s political future

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SEOUL – South Korea’s Moon Jae-in has staked his presidency on tackling two big challenges: North Korea and the economy. Both are proving to be stubborn foes. The country’s gross domestic product contracted 0.3 percent in the first quarter — the biggest decline in a decade — the Bank of Korea said Thursday. The blow came just two days before ... Read More »

India may extend deadline for imposing retaliatory tariff on 29 US items by 14 days

Abu Dhabi Ports present industry opportunities to Indian businessmen

India is likely to extend the deadline for imposing retaliatory customs duties on 29 US products, including almond, walnut and pulses, by another 14 days, a source said. The commerce ministry is expected to recommend to the revenue department, under the finance ministry, to extend the deadline for imposing higher tariffs. The current deadline will end on May 2. “The ... Read More »

Philippines warns diplomatic relations with Canada could be at risk amid garbage dispute

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The Philippines is not really going to start a war with Canada over garbage but it is warning that Canada’s inaction to take back its trash is threatening 70 years of diplomatic relations between the two nations. President Rodrigo Duterte threatened to “declare war” on Canada earlier this week, saying that Canada had one week to take back the shipping ... Read More »

TCEB inks MoU with four foreign Chambers of Commerce

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BANGKOK: The Thailand Convention & Exhibition Bureau (TCEB) is leveraging the development of Thai MICE business in long-haul markets in collaboration with foreign chambers of commerce representing Australia, the UK, the US and Germany. TCEB President Chiruit Isarangkun Na Ayuthaya explained at the signing of an Memorandum of Understanding (MoU) on Thursday (Apr 25) , “The signing of this MoU ... Read More »

What to Look for in a Profitable South African Franchise Business Opportunity

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Franchising gives ambitious aspirant entrepreneurs and international investors an opportunity to invest in their own business with the guidance and support of a successful business enterprise. South African soil is ripe for franchisees, according to the Franchise Association of South Africa’s chairman, Tony da Fonseca. “The sector already contributes 13,3% to the country’s GDP, generating an estimated R721 billion through ... Read More »

3 Arrested In Netherlands For Laundering Over $1 Billion For Indian Firm

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THE HAGUE: Dutch investigators have arrested three former employees of a local company suspected of laundering some $1.2 billion for an energy client in India, prosecutors said Friday. The Dutch company bought materials and services around the world for the Indian firm which has been involved in laying a gas pipeline on the subcontinent since 2006. “It is suspected that ... Read More »

CPEC is a source of transformation for Pakistan: PM Imran

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BEIJING: Prime Minister Imran Khan on Saturday said the China-Pakistan Economic Corridor (CPEC) is a source of transformation for Pakistan and the country is privileged to have been an early partner of China. PM Imran attended the leaders’ roundtable meeting at the Second Belt and Road Forum for International Cooperation at International Convention Center, Yanqi Lake in Beijing and was ... Read More »

Inflation up by 17.15pc for higher income group

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KARACHI: The prices of essential items has increased by 17.15 percent for higher income group above Rs35,000, according to weekly Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS). The PBS said that the inflation of the income group above Rs35,000 was increased by 17.15 percent by week ended April 25, 2019 as compared with same week a ... Read More »

Pakistan IMF to negotiate three-year bailout package, VAT regime: Dr. Khaqan Najeeb

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  ISLAMABAD: A staff mission of the International Monetary Fund (IMF) would be visiting Pakistan on Monday (April 29) for negotiations on a three-year bailout package for economic reforms including the introduction of a single Value Added Tax (VAT) regime. The announcement came following a meeting between Prime Minister Imran Khan and IMF Managing Director Ms Christine Lagarde in Beijing ... Read More »