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SBP grants commencement of banking business to Bank of China

KARACHI -UNS: The State Bank of Pakistan (SBP) has allowed commencement of banking business to the Bank of China Limited, says an announcement here on Monday. Earlier, SBP had issued a banking license to the bank in the month of May 2017. The Bank of …

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‘Breakthrough’ in Pak-China FTA talks

ISLAMABAD -UNS: China agreed to address major concerns of Pakistan about the preference erosion of its exports and meaningful market access during the latest round of negotiations over the China-Pakistan Free Trade Agreement (FTA) held in Beijing on Sept 14-15. The negotiation hit an impasse …

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KP govt to construct CPEC City near Swabi

PESHAWAR -UNS : Khyber Pakhtunkhwa government has decided to construct CPEC (China-Pakistan Economic Corridor) City on Islamabad-Peshawar-Motorway near Swabi. While quoting government sources, Radio Pakistan reported that the city will be constructed on eighty thousand kanal land at a cost of over four billion dollars …

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China provides $10 billion credit line to Iran

BEIJING -UNS: A Chinese state-owned investment firm has provided a $10 billion credit line for Iranian banks, Iran’s central bank president said Saturday. The contract was signed in Beijing between China’s CITIC investment group and a delegation of Iranian banks led by central bank president …

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First section of Havilian-Thakot motorway to be completed by April 2018

ABBOTTABAD-UNS- The 120 kilometer Thakot-Havelian motorway project will be completed in December 2019. According to official sources, the project is being completed at a cost of over 133 billion rupees and 39 kilometre Havelian-Mansehra section will be completed by April next year. The stretch of …

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KP govt acquires land for establishing eco-zone in Nowshera

PESHAWAR -UNS : The Khyber Pakhtunkhwa government has acquired 257 acres of land for the establishment of a special economic zone at Jalozai in district Nowshera under the China-Pakistan Economic Corridor (CPEC). The Khyber Pakhtunkhwa government spokesman said that the zone will be constructed under …

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Pakistan, China FTA talks begin; trade imbalance in focus

ISLAMABAD-UNS: Pakistan and China on Thursday started talks to review free trade agreement, focusing on growing trade imbalances between the two neighboring countries. Secretary Commerce Younus Dagha stressed the need to address balance of trade between the countries and visa issues faced by Pakistani businessmen …

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PM Abbasi inaugurates Rs80 billion Kacchi Canal Project in Dera Bugti

DERA BUGTI -UNS : Prime Minister Shahid Khaqan Abbasi on Thursday urged the people of Balochistan to vote for those political parties who had put the country and their province on the road to progress and prosperity. “Now you have to decide whether you want …

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Economic cost of Harvey, Irma could be $290 bn: forecaster

WASHINGTON-UNS : The combined economic cost of Hurricanes Harvey and Irma could reach $290 billion, equivalent to 1.5 percent of the US gross domestic product, US forecaster AccuWeather said in a report on Sunday. “We believe the damage estimate from Irma to be about $100 …

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Pakistan, Bosnia agree to bolster trade relations

ISLAMABAD -UNS: Pakistan and Bosnia have agreed to enhance bilateral trade and withdrawal of double taxation system. The agreement was reached during a meeting between President Mamnoon Hussain and Bosnian counterpart and Herzegovina Bakir Izetbegovic, on the sidelines of OIC summit on Science and Technology …

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