Daily Archives: November 16, 2019

Pioneering Zhongshan pursuing quality development, seizing strategic opportunities

ZHONGSHAN, China, Nov. 16, 2019 /Xinhua-AsiaNet/ — All sectors of society in China commemorated the 153rd anniversary of Sun Yat-sen’s birth in various forms on November 12, 2019. A memorial ceremony of the great national hero, who pioneered China’s democratic revolution, was held in the Museum of the Former Residence of Dr. Sun Yat-sen in […]

Islamic Countries’ Economy Will Grow to $3.4 Trillion by 2024: Report

According to a new report, the global spending in Islam-inspired ethical consumption sectors will increase by 45%, reaching $3.2 trillion by 2024.The report titled 7th Annual State of the Global Islamic Economy was compiled by Dinar Standard, a US-base…

ADB Points Out Major Cross-Border Trade Issues in Pakistan

Asian Development Bank (ADB) has pointed out major impediments in Pakistan’s competitiveness in cross-border trade, i.e time taken to clear the border, transportation cost, and cost incurred at border clearance.In its latest report titled CAREC Corrido…

World Bank’s IFC Finances Pakistan’s Super Six Wind Power Project

International Finance Corporation, a member of the World Bank Group, has led the financing of a first-of-its-kind program to build six wind power projects in Pakistan called the Super Six.With a total investment of $450 million, Super Six will help del…

Bank Al Habib To Acquire 70% Stakes in Habib Asset Management Co. For Rs. 152 Million

Independent directors of Bank Al Habib have finalized a deal to acquire 70 percent shares of Habib Asset Management Company for Rs. 152 million.According to the stock filing, the bank will purchase 21 million ordinary shares in the asset management com…

FBR to Start Criminal Proceedings Against Tax Evaders: Report

FBR has planned major changes in tax laws to prosecute high-net-worth individuals (non-filers) and initiate criminal proceedings against tax evaders in cases where the tax evasion exceeds Rs. 10 million, reports a local newspaper.The sources quoted by …