Business - 25

Nigeria-based NATIONAL MOTORS is expected to produce small trucks and large-sized prime movers in Pakistan within a year. The company, which is a joint venture of German and Chinese carmakers, will invest US$25 million in an assembly plant. The company is currently manufacturing prime movers and small trucks in Nigeria under the brand name of [...]

Pakistan’s financial sector is witnessing robust growth in Islamic banking, which is emerging as a happy alternative for millions of faithful who regard conventional banking as impure. The past 18 months have seen a steep increase in Islamic banking counters at key local and foreign banks. Two fully-fledged Islamic banks — one local and one [...]

Pakistan’s exports surged to more than $6.495 billion, registering an increase of 10.45pc, during July-December 2004, compared to US$5.881 billion during the corresponding period last year. Main commodities for exports during December 2004 included Cotton cloth worth Rs 7,532 million, Knitwear worth Rs 6,859 million, Bedwear worth Rs 6,343 million, Cotton yarn worth Rs 5,060 [...]

Pakistan Telecommunication Company Ltd, PTCL, will launch its Wireless Local Loop (WLL) service in Karachi next month, PTCL is operating approximately 30 exchanges all over Karachi which will provide WLL connections to the subscribers, however, the subscriber would be restricted not to cross maximum 14-kilometer and minimum 6-kilometer range from his exchange.It may be mentioned [...]

Companies from as far away as Norway have been tempted by Pakistan and its population of 140 million. Since July, 2003, regulators have handed out more than 200 fixed, mobile, and long-distance licenses to some 50 companies. Although there will surely be a shakeout with so many new entrants, officials believe operators will pour as [...]

Finnish energy business Wartsila is to convert a captive power plant in Lahore, Pakistan, to dual-fuel (DF) operation. The conversion is scheduled for completion in the early part of 2005. The power plant is owned by Century Power Generation of Pakistan. The demand for gas and dual-fuel engines is booming in Pakistan. This trend towards [...]

Foreign investors especially from Middle East and European countries have shown keen interest in participating in the auction of diamonds and jewellery to be held in the city on January 27. 362 diamonds of different shape, size and weight, five pieces of diamond-studded jewellery, two plain gold jewellery items and one Rolex watch will be [...]

United Arab Emirates is among top order lists of countries who are pouring net inflow of direct or private investment worth millions of dollars in Pakistan to explore the investment possibilities in power generation, automobile, housing, construction, cement, food processing and dairy sectors of Pakistan. The total FDI from UAE stood at $12 million while [...]

Research and Markets has announced the addition of Prospects for the Textile and Clothing Industry in Pakistan to their offering. The aim is to make Pakistan one of Asia’s top five textile and clothing exporting nations. At present it ranks eighth. Pakistan’s role as one of the world’s leading cotton producers has provided the basis [...]

Just as the Pakistan sun rises from the east over India in the early morning’s dawn, the same can be said about the rising telecommunications industry in this very interesting representative Phoenix of the Southern Asia region. There is a growth outbreak of industry and financial resources and, along with this activity, the infrastructure of [...]