DP World acquires leading ports in Puerto central (San Antonio) and Puerto Lirquen (region viii) in Chile

Global trade enabler DP World today announces that it has entered into an agreement to acquire 71.3% stake in Puertos y Logistica S.A. (“Pulogsa”) from Minera Valparaiso and other shareholders associated with the Matte Group.

Pulogsa is listed on the Santiago stock exchange, and the acquisition will be effected via a tender offer to acquire all outstanding shares of the business.

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Overseas Pakistanis remit US $10.7 billion in the first half of FY19

Overseas Pakistani workers remitted US$ 10718.78 million in the first half (July to December) of FY19, showing a growth of 10% compared with US$ 9744.75 million received during the same period in the preceding year.

During December 2018, the inflow of workers’ remittances amounted to US$ 1690.18 million, which is 5.07% higher than November 2018 and 1.93% lower than December 2017.

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FPCCI crest to Finance Minster

Caption Picture: –

 

Engr. Daroo Khan Achakzai, President FPCCI and Mr. S.M. Muneer, Former President FPCCI & CE TDAP presenting crest to Mr. Asad Umar, Federal Minister for Finance, Revenue and Economic Affairs on his visit to Federation House Karachi. Dr.

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Amir Tufail becomes Chief Executive/Managing Director of SNGPL

The board of directors of SNGPL has assigned the charge of managing director of the company to Amer Tufail for a period of 90 days or till the appointment of regular managing director, whichever is earlier. In a meeting held recently, the board earlier, considered and approved the resignation of Amjad Latif, revealed an official notification issued to Pakistan Stock Exchange.

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Pragmatic steps are being taken to discipline the highways and motorways system : MoC

Federal Minister for Communications Murad Saeed has said, we are determined to overcome travelling difficulties being faced by the people and provide them safe and sound journey on our roads. In a few days, Lahore Ravi Toll Plaza at Lahore-Islamabad Motorway (M-2) is being shifted while new lanes are being added to Islamabad-Peshawar Motorway (M-1) Toll Plaza.

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4th death anniversary of poet Pirzada Ashiq Kairanvi

The 4th death anniversary of renowned Urdu poet Pirzada Ashiq Kairanvi is being observed on Sunday (today). Hailed as the most prolific poet, Pirzada Ashique Kairanvi stays behind the world’s lengthiest Ghazel comprising some 30 thousand unique verses, the most extended poetic creation produced in any world language spoken today.

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FTA between Pakistan and Sri-Lanka underutilized, Dr. Ikhtiar Baig

The Consul General of Sri Lanka H.E G.L Gnanatheva visited FPCCI to meet Dr. Mirza Ikhtiar Baig, Senior Vice President, FPCCI to discuss bilateral trade, investment and potential of Free Trade Agreement (FTA) between Pakistan and Sri-Lanka.

Dr. Baig expressed his concern that in spite of Free Trade Agreement between both countries for the last 13 years, the trade between two countries is only $ 373 million out of which exports from Pakistan to Sri Lanka are $270 million and imports from Sri Lanka to Pakistan are $ 103, whereas in 2011 the trade volume was $ 512 million with exports of $ 442 million and imports was $ 70 million which shows a decline in trade volume between the two countries.

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Port Qasim dock workers protest enters 108 days’ today

Hundreds of dock workers Thursday marched on streets of Saddar to mark their 108th day of continuous protest for their rights. Holding red flags and protest banners, they rallied from Regal Chowk towards Karachi Press Club.

This protest was arranged by Workers Union of Port Qasim CBA which was joined and led by home based women workers and senior trade union leaders including Karamat Ali from PILER, Habibuddin Junaidi, Liaquat Ali Sahi, Nasir Mansoor, Manzoor Razi, Secretary General of CBA union Hussain Badshah and others at the starting point of rally.

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Pakistan’s Liquid Foreign Reserves Position

The total liquid foreign reserves held by the country stood at US$13,597.0 million on 04January2019.The break-up of the foreign reserves position is as under: –

Foreign reserves held by the State Bank of Pakistan : US$ 7,048.7 million

Net foreign reserves held by commercial banks : US$ 6,548.3 million

Total liquid foreign reserves             : US$ 13,597.0 million

During the week ending 04 January2019, SBP’s reserves decreased by US$239 million to US$7,048.7 million, due to external debt servicing and other official payments.

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ACCA launches a new report on SME vision and strategy

Success in scaling-up is not only good for the businesses themselves, but also delivers many benefits for the wider economy, including the people who they employ as well as the community in which they operate. At a multi-stakeholder conference organised in Lahore by ACCA (the Association of Chartered Certified Accountants), business leaders and regulators discussed the role of governance measures to address Pakistan’s financing gap, alongside the need to formulate policy to help SMEs to scale-up.

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