"Pakistan had been placed at the top of 16
Asian nations that had attracted over a billion dollars of investment
during the last year," said Waseem Haqqie, Chairman of Pakistani
Board of Investment.
(The UN's World Investment Report reveals that
Pakistan ranked top among 16 Asian countries to attract more than 1
billion dollars foreign investment.)
"By setting up joint ventures Bangladesh and
Pakistan could easily compete with China and India in the WTO
free-trade era. They can jointly grab a share of 30 billion dollars in
$250 billion global textile trade," said Chairman Board of
Investment and Advisor to Bangladesh Prime Minister on Energy and
(Bangladesh has offered Pakistani industrialists
joint ventures in order to increase exports of apparel,
pharmaceutical, information technology and light engineering in WTO
"The Prime Minister will make a case for
bilateral co-operation in textiles, IT, telecommunications, and
energy," said Foreign Office spokesman Naeem Khan.
(Prime Minister arrived in Seoul with many
proposals to seek Korean investment in Pakistan.)
"DHL has a long history of successful
partnership with Pakistan, such as the joint venture between DHL
International and DHL Pakistan spanning more than 23 years. It is our
intention to continue building on this relationship well into the
future," said Scott Price, CEO of DHL Express, Asia-Pacific.
(DHL International plans to invest $8mn in three
years in coordination with DHL Pakistan.)
"Setting aside the prescribed criterion of
deletion program, three companies allowed duty-free import of 7,500
(The government has allowed three companies to
import 7,500 duty-free tractors, setting aside the prescribed
criterion of deletion programme, duly approved by Engineering
Development Board. The companies, which have been given clearance to
import 2500 tractors each, are John Deere, Universal Tractors, and
"The Cabinet Committee on Privatisation (CCoP)
approves highest bid for Mustehkam Cement Ltd. (MCL) and Javedan
Cement Ltd. (JCL)."
(Prime Minister has approved bids for MCL and JCL.
MCL will bring Rs.3.20bn at Rs.305 per share, while JCL will fetch
Rs.4.315bn at a price of Rs.80 per share.)
"A proactive multi-pronged strategy is very
much in place now to achieve the $27 billion foreign direct investment
(FDI) target in the next five years," said Board of Investment (BoI)
Chairman Waseem Haqqie.
"The strike was successful beyond our
expectations. It was the biggest-ever action by the trade
unions," said M.K. Pandhe, head of the Centre of Indian Trade
(Millions of Indian state workers staged one-day
national strike that disrupted flights and shut down government
offices and banks. They were protesting against privatization plans.)
"It is Samsung's intention to be completely
out of reach of smaller memory chip makers," said Kim Ik-sang, an
analyst of CJ Investment & Securities.
(Samsung Electronics Co Ltd., the world's top
memory chip maker, announced a $33 billion investment plan. The
company is aiming to more than treble its chip sales by 2012.)
"United States will be providing more than 1.5
billion dollars for development projects in social sector in Pakistan
during the next five years through USAID," said US National
Security Advisor Stephen Hadley.
"The federal government has offered the
provinces 48% share from the divisible pool under new NFC Award. This
share will ultimately be increased to 50 percent by 2010. The
provinces are still studying the proposal and may provide their
answers soon, " said official sources.
"US Airways merged with America West. Today we
start a new chapter in aviation history," said Douglas Parker,
the America West chief executive.
"Asian GDP will exceed North America's by
2025," according to a study conducted by central bank of South
(Asia's economy will be larger than the combined
economy of the United States, Canada and Mexico by 2025, according to
South Korea's central bank. The Bank of Korea said its study also
showed Asia's combined annual GDP would grow to account for 42 percent
of the world's total output in 2040, leaving behind North America (23%
share) and EU (16% share). The study defined Asia as comprising 14
economies, excluding Middle East countries and Russia, and the EU as
comprising the 15 member countries before it was enlarged last year.)
"Zhuzhou Smelting, China's second-largest zinc
producer by capacity, is looking to acquire mines at home and abroad
to tackle shortage of raw materials," said a senior company
(China will get a big quantity of mineral products,
particularly zinc and lead from Pakistan on regular basis.)
"Very very sound projects that are helping
poor children in the country and doing so in a way that, as far as I
can tell, are clean of corruption," World Bank President Paul
(Wolfowitz praises Pakistan for taking steps to
root out corruption from society, and for launching education
programme in Punjab.)
"Porsche AG in Stuttgart plans to buy about 20
percent of the voting shares in Volkswagen AG in Wolfsburg,"
German luxury sports car maker Porsche.
(Porsche has developed in partnership with
Volkswagen the 4x4 vehicle Cayenne and is also collaborating on a