Business - 37

Swiss WorldCargo has started freighter services between Karachi and Zurich from October 31 which would satisfy the strong capacity demand on this route. Vice President, Area Management Intercontinental, Swiss WorldCargo, Serge Tripet announced this while addressing the introductory ceremony here. The three weekly departures to and from Karachi represent a unique offer for midweek and [...]

Paktel, founder of the cellular industry in Pakistan, Thursday launched its GSM service throughout the country. Launching the 0304-code GSM service at a press conference here, he said, Paktel has 350,000 subscribers in its existing network and the company, starting with about a million connection capacity aims at around two million capacity in more than [...]

The Pakistan Telecommunication Company on Wednesday launched the “Apna Des” calling card for Pakistanis travelling abroad. Though the Apna prepaid calling card is available in Pakistani currency but will help the users in a foreign country to make a call to Pakistan, said Shahid Haq, executive vice-president marketing. Initially, the service of the card will [...]

NetSol Technologies, Inc. announced that its majority-owned subsidiary, NetSol-Akhter has expanded it corporate client list to fifty companies located in Karachi, Pakistan. These corporate clients include Reuters Ltd., Fuji Films, the Textile Institute of Pakistan, Sigma Motors Ltd. (Land Rover) and the Institute of Business Management and Technology. The rollout of the company’s broadband services [...]

The federal cabinet has decided to issue new Pakistani currency notes of Rs 20 and Rs 5,000. The cabinet, which met with Prime Minister Shaukat Aziz in the chair, also decided to redesign the Rs 50 and Rs 1,000 notes. The new notes will incorporate the latest security features to protect them from forgery and [...]

The Karachi Stock Exchange (KSE), emboldened by a remarkable performance in 2004, plans cross-border listings, Internet trading and over the counter market. “The future projects include cross-border listings, Internet trading and over the counter market,” said the KSE’s annual report released on the eve of its Annual General Meeting on October 28. The report covered [...]

The Resource Group, a call center company, has acquired Pennsylvania-based Telespectrum, which is expected to contribute $80 million to its annual revenue, a senior Resource Group executive said Tuesday. “In a single transaction, Telespectrum contributed $80 million and 2000 people to our business,” Zia Chishti, the company’s chief executive told Dow Jones Newswires in an [...]

Malaysia and Pakistan agreed on Oct 26 to take the first step towards a free-trade pact and look at cutting import duties on some of each other’s exports. Foreign ministers from the two Muslim Asian nations said after a meeting in the Malaysian capital that officials from both sides would start work soon on a [...]

IMAX Corporation and the Government of Punjab Province, Pakistan today announced an agreement to install the first ever IMAX theatre in Pakistan. The theatre will be located in Lahore, Pakistan, and be part of a multi-function shopping and entertainment park the Punjab Government is developing. The agreement was reached on September 28th, construction will begin [...]

The deregulation of Pakistan’s telecom industry is fast gaining momentum with dozens more communications providers and millions of customers entering both the fixed line and mobile markets. Before the government announced the opening of its fixed line telephone sector to private investors in July last year, the landline penetration rate was just 2.5 percent of [...]