Business - 32

Alcatel (Paris: CGEP.PA and NYSE: ALA) today announced that TeleCard Limited, a leading facilities based competitive operator in Pakistan, has signed a multi million dollar contract for a Voice over IP (VoIP) solution from Alcatel. TeleCard is committed to providing state-of-the-art wireline and wireless local loop (WLL) services throughout Pakistan. With its services extending to [...]

A Pakistani software company has been awarded top international quality CMM-Level 4 certification for introducing state-of-the-art business processes in the delivery of its products and services. The Lahore-based NetSol Technologies Ltd which specializes as the developer of proprietary software applications and provider of information technology (IT) services, is the first-ever local company and the 126th [...]

CNBC Pakistan, Pak Oman Invenstment Company and Saudi Pak Industrial & Agricultural Investment Company signed a shareholders agreement to bring the world-acclaimed business network to Pakistan, says a Press release. CNBC Pakistan will be boadcasted from state of the art studios and production facilities in Karachi, Islamabad and Lahore and will transmit live programming in [...]

The government has decided to remove income withholding tax on gifts sent by the overseas Pakistanis to friends and families. At present, the government levies 6 per cent withholding tax on these gifts. Previously gifts below the cost of Rs 1,000 were not taxable. The government raised the limit of non-taxable gifts to Rs 10,000, [...]

The devaluation of the Pakistani rupee by 4-5 per cent since July has boosted the interest of prospective African buyers of rice, traders say. A surge of orders is expected from the second half of this month and it could not come at a more opportune time for Pakistan’s rice farmers. They expect to produce [...]

China announced that it will provide technical assistance to the country of Pakistan in producing electricity through solar energy, said an official of the Jiangsu Solar Energy Resources Institute. “We can help Pakistan manufacture solar collector tubes that could be used to providing cheap electricity,” said the official. “We will also transfer technology to Pakistan [...]

The first ever joint venture agreement for manufacturing of automotive parts was signed between JinKwang, a South Korean firm and JAZ Engineering of Pakistan in the presence of Minister for Industries and Production, Jehangir Khan Tareen on Monday night. The joint venture company, Jinkwang JAZ Ltd, has planned to start manufacturing operation with two production [...]

Born in Rawalpindi, I completed my masters in information technology. After my education I worked as manager IT in a private company. Working with the private company for one year gave me enough experience about market trends in IT. With the financial assistance of my father, who works as consultant with a firm, I established [...]

Over 2,000 residential units would be established for labourers, workers and fishermen in the proposed “Labour City” in the Gwadar district of Balochistan, and the federal government would grant Rs 3 billion for the project from the Workers Welfare Fund (WWF). This was stated at a meeting here on Monday held under the chairmanship of [...]

The KSE 100-share index on Monday finished at an all-time high of 5,633.13 amid heavy buying boosted by the perception of more close ties with the US after the president’s visit. More than one positive developments, the president’s meeting with Bush and year-end considerations seem to have triggered buy stops on selected counters, although negative [...]