Business - 39

Musharaf Hai, chairman of Unilever Pakistan has made it to Fortune Magazine’s 2004 ranking of the 50 most powerful women in business. Hai, who is ranked at number 46 on the list, is the only woman from Pakistan to make it to the popular ranking. ‘The most prominent businesswoman in a country where women usually [...]

Pakistani motorcycle riders are smiling as never before as Chinese models are compelling local manufacturers to drop prices. “The rise in the sale of low-priced Chinese motorbikes, both imported and locally assembled, has forced leading motorcycle companies to reduce their prices,” The News reported Sunday. Prices of locally made motorcycles range from Rs.37,000 to Rs.41,000, [...]

NetSol Technologies, Inc. a developer of proprietary software applications and provider of information technology (IT) services, today announced it has been recognized by the Pakistan Software Export Board (PSEB) as the leading information technology exporter in the country, having contributed more than 11 percent of the total IT and ITeS exports during the 2003 – [...]

The Pakistan Atomic Energy Commission (PAEC) has suggested the use of nuclear seawater desalination technology to overcome the growing shortage of water for industrial, agricultural and domestic use in the country. Seawater desalination is considered to be a viable option especially for Karachi and the coastal belt as it was being successfully used in Japan [...]

Discount telecoms services provider REDtone International Bhd said income from its new Pakistan venture may equal sales in the domestic market within three years. Net income would ‘more than double’ to about RM25mil this year from RM10.3mil in 2003, with a profit margin of 18%, which was sustainable, said managing director Wei Chuan Beng. ‘Pakistan [...]

[American firm] BOC has installed a state-of-the-art liquid carbon dioxide (CO2) plant in Multan, northern Pakistan. The 60 ton-per-day plant, which began operations earlier this year, is capable of producing International Society of Beverage Technology (ISBT)-compliant CO2. The plant is the first of its kind in Pakistan to serve the country’s expanding core of local [...]

Pakistan’s first commodity exchange is likely to begin operations before the end of the year, initially offering gold futures contracts to enable investors to hedge against currency risks, a senior executive from the exchange said at the weekend. “It is just the rules and regulations that has to be approved by the federal government. Our [...]

Pakistan’s State owned Pakistan National Shipping Corporation (PNSC) is planning to start a ferry service from Karachi to Mumbai via Gwader and Dubai. The new sea route, when commissioned, will open up an affordable alternative for transportation of passengers and goods while giving a much-needed push to the promotion of tourism between the three countries. [...]

Over the past five years, investor confidence levels, aided by the quick pace of reforms in Pakistan, have risen steadily and local IT market spend figures soared to $500m annually. It was in 2003 that a group of senior professionals in corporate Pakistan decided to invest in technology, a market that had grown over 300% [...]

Toromont Industries Ltd. said today its Cimco Refrigeration division has been awarded two recreational equipment orders worth about $4 million in total — one in China and the other in Pakistan. Cimco has also won a contract for the first artificial ice rink in Pakistan. The indoor rink is being built on the fifth floor [...]