Business - 41

The project â€" to be developed on a build, own and operate-basis for 20 years â€" is estimated for completion within 18 months. The wind-powered power plant will be located in the Bin Qasim, outskirts of Karachi. ‘The Government of Pakistan intends to purchase the 50 MW of power to be generated from the power [...]

The fast emerging economic tiger, Thailand, has offered to develop Pakistan’s silk industry which, according to former foreign minister Prachuab Chaiyasan, would add silky shine to the country’s economy. Thailand had offered dozens of proposals to Pakistan to further boost the economy and raise the standard of living of the people of the two countries, [...]

Ufone, a leading [Pakistani] cellular GSM operator, on Monday signed the single largest expansion contract in Pakistan’s cellular history, with Nortel Networks for the extension of its network in 2004-05. Under the contract valued at over $125 million, Nortel will expand Ufone’s Global System for Mobile (GSM) and General Packet Radio Service (GPRS) networks to [...]

Nishtar Road, located in the old city, is a chaotic, thriving, giant market. Everything from plastic goods to bolts of cloth are traded in this densely packed, historic place of trade. Why have businesses thronged here through the decades? Daily Times’ Imran Ayub walks us through a unique entrepreneurial paradise. Consider this picture. A 20-kilometer [...]

Pakistan’s foreign exchange reserves rose by $22 million to $12.181 billion in the week ended Sept. 11 mainly because of an increase in inflows to commercial banks, the central bank said on Friday. During the week, reserves held by commercial banks rose to $2.176 billion from $2.158 billion a week earlier, the central bank said. [...]

Banks operating in Pakistan have announced a record net interest income as credit volume to private business continues to expand. Banking industry analysts foresee this trend in net interest income (NII) to continue. But, banks’ overall investment in the stock market will be restrained resulting in reduced yields. This is because the central bank has [...]

A Chinese firm, China National Machinery and Equipment Group (CNMEC), will build the Karachi Mass Transit Project (KMTP) at a cost of US$568 million. Sources said that the project would include construction of the corridor for overhead mass transit facility from Sohrab Goth to Tower, via Teen Hatti. The corridor is to be built in [...]

Thailand has sought Pakistan’s help for providing professional training to its people in the industrial sector. This was discussed between a Thai trade delegation and Pakistani Minister for Industries here on Thursday. The Thai trade delegation, led by Prachuab Chaiyasan, discussed ways and means for extending economic and trade relations between the two countries. The [...]

Workers’ remittances or the foreign exchange sent back home by Pakistanis living abroad rose by 16 per cent to $669 million in July-August 2004, from $577 million in July-August 2003, data released by the State Bank show. Overall remittances rose as Pakistanis living in the US and the UAE sent much higher amounts of foreign [...]

Beenish Tariq, Lottery Winner: “What anyone would feel like. Excited, I guess? Surprised?” She is only 20 and she has her future all set. The college senior from Flushing just came forward to claim her prize. It was a scratch-off ticket that only cost $10 that her dad bought her over Christmas. Now, she is [...]