Business - 35

The Singapore-based Standard & Poor’s Ratings Services on Monday raised Pakistan’s long-term sovereign credit ratings by one notch, to ‘B+’ for foreign currency and ‘BB’ for local currency. An announcement by the rating agency said the upgrades reflect declining debt and debt-servicing burdens, as well as sustained economic progress. The rating actions also reflect Pakistan’s [...]

Pakistan’s business leaders expect the Karachi stock market to rise today, driven by the decision of Shaukat Aziz, prime minister, to end ahead of schedule the country’s loan programme with the International Monetary Fund. “The begging bowl has been broken forever,” said Mr Aziz on Friday evening as he announced that Pakistan had declined the [...]

In an era characterised by credit card culture, debit cards are gaining popularity, among all sorts of bank account holders. In the western countries, the debit card was already quite popular. However, in the East also, the use of debit cards is on increase. The simple reason why the use of debit card is increasing [...]

I am a physically handicapped person because of my legs but facing all odds of life with courage and dignity. When I was of 2 years of age, I got a leg injury. I was not born physically handicapped. Some thing went wrong during my 12 years long treatment. After that I could not recover. [...]

Mukhtar Yusaf knows about patience. For 18 years he has worked as a waiter, explaining menus and specials to customers night after night. He is from Pakistan, where patience is a way of life, especially when it comes to cooking. “There are no shortcuts to flavor,” Yusaf says, brandishing a wooden ladle in his small, [...]

Pakistan’s Ministry for Information Technology has published draft legislation creating a new foreign data protection regime, which will help European and US companies when outsourcing to the country, according to a report by Islamabad News. EU law in particular restricts businesses transferring data to countries with weak privacy protection, and with the Ministry apparently expecting [...]

Metallurgical Construction Company of China (MCC) will launch expansion project of its Saindak copper-gold mining project located in Pakistan. The MCC resumed production in Saindak project in August 2003 after a 7-year hiatus. Total investment of this expansion project will probably reach USD 22 mln, and the project is still operated by MCC Resource Development [...]

For the last couple of years, Chinese firms had been attracting the largest crowds at the India International Trade Fair (IITF). Being a partner country this year, China brought in the largest business delegation, comprising almost 100 companies. But going by the sparse crowds at the Chinese pavilion, India’s fascination with the dragon seems to [...]

The global hotel chain, Le Meridien Hotels & Resorts is set to tap the Pakistan tourism market. The group will be managing the operations of Midway House, the oldest hotel in Karachi owned by the Department of Civil Aviation, Pakistan. Targeting primarily the corporates, Le Meridien Karachi, will open its doors in September 2005. What’s [...]

The conducive business environment has played a vital role in attracting foreign investment in Pakistan where a foreign investor could start business in 22 days compared with India’s 65 days, government officials said on Wednesday. “Starting a business in Pakistan requires only 22 days (the lowest in the sample), with India at the bottom with [...]