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Tag Archives: Bahrain

Bahrain, Turkey deepen cooperation

ANKARA: Bahrain and Turkey have signed a slew of accords to deepen their relations and broaden their cooperation. The memoranda of understanding were signed in the presence of King Hamad Bin Eisa Al Khalifa and President Recep Tayyip Erdogan who had arrived a few hours earlier in Bahrain on the first leg of his three-country four-day Gulf tour. The cooperation ... Read More »

Bahrain, Kuwait police foil bid to smuggle marijuana

MANAMA: Bahrain and Kuwait police have foiled an attempt to smuggle half a kilo of marijuana coming from an Asian country to Kuwait through Bahrain in a sting operation. Customs officers screened a parcel transiting from Bahrain to Kuwait and found the plastic-covered drugs hidden inside a cricket bat. A Bahrain anti-drug squad co-operated with Kuwaiti authorities in arresting a ... Read More »

Singapore, GCC launch free trade agreement

SINGAPORE: Singapore and GCC has jointly announced the launch of FTA negotiations, taking Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates in focus. With the entry into force of the agreement, approximately 93.9 percent of all Singaporean goods exported to the GCC qualified for immediate tariff-free concessions, while an additional 2.7 percent of tariff lines will qualify ... Read More »

PM Nawaz Sharif to sign 16 MoUs with Bahrain

ISLAMABAD: Prime Minister Nawaz Sharif would proceed to Bahrain for an important visit. He would hold important talks with the ruler of Bahrain and the two sides would sign 16 Memorandum of Understandings (MOUs) for cooperation in different fields. He will be accompanied by federal ministers Shahid Khaqan Abbas, Khawaja Mohammad Asif, Special Assistant Tariq Fatmi, Foreign Secretary Aizaz Chaudhry ... Read More »

Remittances soar to $7,398.4m from $6,407.5m in 5 months of FY14-15

KARACHI: The country has witnessed improvement in remittances as the overseas Pakistanis sent $7,398.4 million in first five months of Fiscal Year 2014-15, reflecting the growth of 15.5 per cent as compared to last year’s $6,407.5 million. As per details, during November 2014, the inflow of remittances amounted to $1,320.6 million, which is 4.5pc lower than October 2014 but 16.8pc ... Read More »

Foreigners invited to invest in agriculture sector

ISLAMABAD: The speakers at International Investment Conference have been offered to invest in the agricultural sector as it is the most promising sector for investments. The conference was organized by the Board of Investment to highlighting the investment opportunities and to urge the foreign investors to explore untapped potential of the country More than 350 delegations from all over the ... Read More »

Pakistan future hub of trade, commerce in Asia: Ahsan

ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal said that Pakistan was a future hub of trade, commerce and industry in Asia as it was located in that of the continent. “It is the best time for the foreign investors to invest in Pakistan as the country is rapidly developing and it is becoming stable and peaceful”, he ... Read More »

Nawaz welcomes 350 delegates on int’l trade moot

ISLAMABAD: With participation of 350 delegates, an international moot titled “Invest Pakistan: priority sectors and legal framework for investment in the country” will start here today. The event will highlight Pakistan’s investment regime and opportunities for investors in different economic fields. Prime Minister Nawaz Sharif will inaugurate the two-day conference. The Board of Investment is organising the moot to show Pakistan’s ... Read More »

Chennai Customs seizes record 280kg gold haul in 2014

CHENNAI: Indian Customs has seized record 280 kilograms of gold worth 710 million Indian rupees ($11.5 million) at the Chennai Airport. Customs Chief Commissioner S Ramesh said that the amount of gold seized till the end of August this year was `71 crore in Indian rupee which was `55 crore it seized throughout 2013. Gold is brought in primarily from ... Read More »

GCC ports expansion plans fail to bring more business

DUBAI: The investment of multi-billion dollars into the region’s ports and plans for GCC-wide multimodal transportation systems have failed to gather more business to member countries and their ports. The report of Agility Logistics Emerging Markets Index 2014 stated that the GCC (Gulf Co-operation Council) countries, along with Jordan, are trying to consider international locations of favorable conditions for business ... Read More »

NBP starts action against 11 bankers for Rs 12 billion fraud

ISLAMABAD: The National Bank of Pakistan (NBP) has taken action against 11 officials for their involvement in around Rs 12 billion irregularities. The accused include four Pakistani and seven Bangladeshi officials. According to documents available with Customs Today, the NBP detected irregularities, including untimely and improper classification of loan accounts in the light of Bank of Bangladesh circular no: 05/2006 ... Read More »

Bank Alfalah will issue 15pc shares to World Bank’s IFC

KARACHI: The World Bank’s International Finance Corporation (IFC) will take a 15 per cent stake in the paid-up capital of Pakistan’s Bank Alfalah, the Karachi-based lender said in a statement. Under the agreement, which still requires regulatory approval, Bank Alfalah will issue shares to IFC valued at 28 rupees per share, while IFC has an option to buy additional equity ... Read More »

Remittances up by 12.61pc in July, Aug 2014

KARACHI: Pakistanis living overseas remitted an amount of $2978.10 million in July and August 2014 of the current fiscal year, showing an impressive growth of 12.61 percent against $2644.53 million received during the corresponding period of last FY14. The inflow of remittances during August 2014 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and ... Read More »