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Pakistan will start production of commercial aircraft soon

ISLAMABAD -UNS- Pakistan Aeronautical Complex (PAC) is all set to kick off production of commercial aircraft for domestic and international markets. This was stated by PAC official Air Marshal Ahmer Shahzad during interview with Khaleej Times on the sidelines of the Dubai Airshow 2017. Shahzad …

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Work on Gwadar International Airport will start by mid of next year

ISLAMABAD: The meeting of the Cabinet Committee on China Pakistan Economic Corridor was held in Islamabad with Prime Minister Shahid Khaqan Abbasi in the chair. The meeting discussed all the CEPC projects in detail including power and water supply, construction of Gwadar airport, free port, …

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50% drop in overall investments as compared to last year

KARACHI -UNS– Overall investments in the country saw a drop of 50% during the current year compared to the last while Foreign Direct Investment (FDI) has increased by 74%, taking the total volume to 940 million dollars.   According to the statistics released by State …

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German economy expands faster in third quarter

BERLIN: The German economy grew at a faster pace than expected in the third quarter, official data showed Thursday, as robust foreign demand kept Europe’s top economy humming. Gross domestic product (GDP) expanded by 0.8 percent between July and September compared with the previous quarter, …

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FBR initiates investigations against Pakistanis named in Paradise Leaks

ISLAMABAD -UNS – Federal Board of Revenue (FBR) has on Saturday initiated investigations against Pakistanis named in Paradise Papers after making a list of all the 19 people. According to sources, details of the 19 people named in Paradise Leaks have been demanded from Regional …

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US,China signs $37 billion deal to buy 300 Boeing planes

BEIJING -UNS: China signed an agreement Thursday to buy 300 airplanes from US aerospace giant Boeing valued over $37 billion, as part of a multi-billion dollar raft of deals announced during President Donald Trump’s visit to Beijing. The agreement for China Aviation Suppliers Holding Co. …

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No bottleneck in implementation of CPEC: China

BEIJING -UNS : China rejected reports that there is any bottleneck in the implementation of China-Pakistan Economic Corridor (CPEC) or the Belt and Road Initiative (BRI). Foreign Ministry spokesperson Hua Chunying said at a news briefing that the projects are going on smoothly. “I wonder …

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Sherry slams government over alarming external debt

ISLAMABAD -UNS : Vice President PPPP, Senator Sherry Rehman slammed the government over Pakistan’s mounting external debt. “This alarming rise in our external debt shows the downward trajectory of the government’s lacklustre economic vision,” said the Senator in her statement. The country’s external debt has …

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Standard & Poor’s affirms Pakistan’s ‘B/B’ ratings with Stable Outlook

ISLAMABAD: The global rating agency, Standard & Poor’s Global Ratings (S&P), in its report on Monday affirmed Pakistan’s long-term ‘B’ and short-term sovereign credit rating. The outlook for the long-term ratings remains stable, according to the report. Affirmation of Pakistan’s rating reflects that economic prospects …

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Bomb for public: Petroleum products prices might go up by Rs1 to Rs2 per liter

ISLAMABAD -UNS – Rising crude oil price in a week in global markets might prompt the Pakistani government to increase prices of domestic petroleum products by Rs 1 to Rs 2.50 per liter from November 1, 2017. The crude oil price during the outgoing week …

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