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Pakistan’s Private Sector to benefit from $100 Million US investments

US Ambassador David Hale announced that the U.S. government, in partnership with the Abraaj Group, Indus Basin Holding, and JS Private Equity Management, has made available over $100 million to invest in Pakistan’s private sector

American Ambassador announces availability of over $100 Million for Pakistan’s Private Sector ISLAMABAD – U.S. government, in partnership with the Abraaj Group, Indus Basin Holding, and JS Private Equity Management, has made available over $100 million to invest in Pakistan’s private sector, through the Pakistan Private Investment Initiative, American Ambassador David Hale announced on Thursday. “Our hope is that, by improving access to ... Read More »

Amsterdam named 2016 European capital of innovation

Amsterdam named 2016 European capital of innovation

Amsterdam was recognized for its good start-up climate and its sharing economy, as well as the way city officials approach innovation issues. Amsterdam has been chosen as European capital of innovation in the annual iCapital competition organised by the European Commission. Dutch News reported on Friday that the city won the E.C.’s annual iCapital competition, whose prize is €950,000 ($1.082 ... Read More »

EXIM Bank offers long-term financing opportunities in Pakistan

EXIM Bank offers long-term financing opportunities in Pakistan

The Export-Import Bank of the United States is here to compete for Pakistani business, and is ready to partner with Pakistan to reach its development goals, EXIM Chairman Hochberg said ISLAMABAD – Export-Import Bank of the United States (EXIM) will now offer long-term financing in Pakistan for public sector projects, Chairman and President of the Bank, Fred P. Hochberg announced. “The Export-Import Bank of ... Read More »

Careem acquires local ride-hailing company Savaree

Careem acquires local ride-hailing company Savaree

Savaree will operate as a legal entity of Careem: Careem’s CEO Junaid Iqbal LAHORE (Pakistan) – Dubai-based Careem, hailed as the ride-sharing app of the Middle East, made another move to expand its influence Wednesday by acquiring Pakistani carpooling startup Savaree. The move seems to be an immediate response to Uber’s move into the south Asian country. Savaree was founded by Madeeha ... Read More »

European tourism industry hit hard by Brussels terror attacks

European tourism industry hit hard by Brussels terror attacks. Photo: Charles Platiau/Reuters

Brussels terror attack has altered perceptions of the continent’s safety. The impact of the Brussels terror onslaught was immediate. Within days, occupancy rates at some hotels in the city plunged to just 25%, according to preliminary estimates from STR, a company that tracks hotel industry data. The rate had been 82% the night before the bombings. Other European cities felt ... Read More »

Pakistan and Iran agree to enhance trade volume to $5 billion

Pakistani PM Nawaz Sharif addressing the Pakistan-Iran Joint Business Forum in Islamabad on March 26, 2016.

Pakistan and Iran have plan to take annual trade to $5 billion under the five-year Strategic Trade Cooperation Plan ISLAMABAD – Pakistan and Iran have set an ambitious target of taking annual trade to $5 billion in next five years. The current volume of bilateral trade is mere $250 million. Board of Investment (BOI) Chairman Miftah Ismail said that construction ... Read More »

Samsung Galaxy S7 and S7-Edge launched in Pakistan

Samsung Galaxy S7 and S7-Edge launched in Pakistan

Samsung has also promised a ‘Free’ Galaxy Gear VR with each confirmed pre-booking of Galaxy S7 and Galaxy S7 Edge in Pakistan LAHORE – Samsung held a grand launch ceremony to announce the launch of Galaxy S7 and Galaxy S7 edge, at Samsung IMAX in Lahore. The most anticipated smartphones of 2016, both the devices have received an overwhelming response from the consumers. ... Read More »

Coca-Cola opens new Multan plant, promises $200 million investment

A customer shops near bottles of Coca-Cola Co. soft drinks at a supermarket in the Brooklyn borough of New York, U.S.

Coca-Cola İçecek (CCI) has opened a $70-million coke bottling plant in Multan and plans to invest another $200 million in Pakistan in the next 3 years. CCI chairman Tuncay Özilhan and Finance Minister Ishaq Dar inaugurated Coca-Cola Beverages Pakistan Limited’s (CCBPL) brand new bottling plant set up in Multan. The new bottling plant in Multan is spread over 120,000 square ... Read More »

Russia has largest number of female business leaders

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Russia, Philippines have the highest share of women in senior business roles When it comes to the percentage of senior management roles held by women, the United States, United Kingdom ad Australia are far behind much of the world. With 45 per cent of senior management positions held by women, Russia has once again topped a ranking of countries with the ... Read More »

Singapore remains world’s most expensive city: Report

Singapore is world’s most expensive city for third year in a row, says EIU report

Singapore is world’s most expensive city for third year in a row, says EIU report Singapore has retained the title of the world’s most expensive city for the third year in a row, despite experiencing its longest spell of declining consumer prices since the 1970s. Singapore has a score of 116, just ahead of Zurich and Hong Kong’s 114, according ... Read More »

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