Tag Archives: Investment

Germany to Invest 2Bln Euro in Russian Railways

Germany is seeking economic cooperation with Russia, offering 2 billion euro to participate in the construction of a Moscow-Kazan high speed-railway, the Russian Railways reported Friday.

China Railway Group and Russian Railroad have kicked off a new project to  design and build a high-speed railway between Moscow and the southeastern city of Kazan. It is expected that the line would be extended to Beijing, reducing the duration of a rail journey between Moscow and China’s capital to 48 hours.

Read more » Sputnik News
http://sputniknews.com/business/20151226/1032320482/germany-russia-railways-funding.html#ixzz3vN6hJD7f
Read more: http://sputniknews.com/business/20151226/1032320482/germany-russia-railways-funding.html#ixzz3vRiflLFT

Suzuki considering two new models for Pakistan

ISLAMABAD: Pak Suzuki Motor Company (PSMC), the country’s largest carmaker, is planning to introduce two fresh variants in the local market, besides setting up a manufacturing plant for spare parts at a total investment of $430 million.

Under the new auto policy – which has been pending for quite some time – the Japanese company will look to add to its existing fleet as it looks to tap a growing market. However, an official close to the development said the investment was contingent on the government extending a tax rebate similar to that being offered to new entrants in the proposed auto policy.

According to details received here on Tuesday, PSMC will introduce a smaller car in the 660cc engine category, while also introducing a 1,600cc compact SUV.

The two new variants will take up around $110 million of the total investment. The remaining amount will go in setting up the manufacturing plant for spare parts.

Details revealed that the global head of the Suzuki company shared the investment plan with the federal minister for industries in Islamabad.

Read more » The Express Tribune
See more » http://tribune.com.pk/story/1010654/660-and-1600cc-variants-suzuki-considering-two-new-models-for-pakistan/

UK ‘needs Chinese investment’, ambassador says

Liu Xiaoming was speaking on BBC1’s Andrew Marr Show the day before the start of President Xi Jinping’s state visit to the UK.

He said the expected deal to build a new nuclear power plant at Hinkley Point was “in the best interests of Britain and also in the interest of partnership between China and UK”.

“UK people want to have a better life, want to have clean energy,” he said.

President Xi told the Reuters news agency: “The UK has stated that it will be the Western country that is most open to China. This is a visionary and strategic choice that fully meets Britain’s own long-term interest.”

Read more » BBC
See more » http://www.bbc.com/news/business-34566652

A high-speed rail from L.A. to Las Vegas? China says it’s partnering with U.S. to build

For decades private developers and entrepreneurs have periodically announced bold plans to run high-speed trains between Las Vegas and Los Angeles.

None have gotten anywhere because they lacked money or suffered other setbacks.

On Thursday, however, one long-discussed proposal appeared to gain some intriguing support.

Officials for XpressWest, which has been unable to secure adequate private investors in the United States or a $5.5-billion federal loan, announced that it had formed a partnership with China Railway International USA, a consortium led by China Railway, the national railroad of the People’s Republic of China.

Details about the joint venture, the proposed project and its financing were unavailable Thursday, except China Railway International stated that it would provide initial capital of $100 million. Project officials say they are confident construction could begin as early as September 2016.

XpressWest, a private company formerly called DesertXpress, has been talking about its high-speed rail project since at least 2007. Plans have called for a 185-mile route that would run adjacent to heavily-traveled Interstate 15 from Las Vegas to Victorville, 85 miles northeast of downtown Los Angeles.

Chinese officials now describe the project as a 230-mile route with an additional stop in Palmdale and eventual service throughout the Los Angeles area using some of the same track that would be used by the publicly backed California high-speed rail project.

Federal railroad records indicate that XpressWest has already secured approvals and permits from a number of federal agencies for the 185-mile route. Additional permits, approvals and environmental analysis would be needed for the 230-mile proposal.

“As China’s first high-speed railway project in the United States, the project will be a landmark in overseas investment for the Chinese railway sector and serve as a model of international cooperation,” Yang Zhongmin, chairman of China Railway International, told the state-run Xinhua News Agency.

Chinese officials disclosed the joint venture during a news conference in Beijing. XpressWest representatives also issued a brief statement on their website, but declined to comment until additional regulatory approvals are obtained.

The announcements of cooperation come just days before Chinese President Xi Jinping’s state visit to the United States.

Read more » Los Angeles Times
See more » http://www.latimes.com/local/lanow/la-me-ln-vegas-la-chinese-high-speed-rail-20150917-story.html?utm_source=dlvr.it&utm_medium=twitter

Texas-based Golden Chick Restaurants preparing to land in Pakistan

Golden Chick Restaurants preparing to land in Pakistan

KARACHI: An upcoming Pakistani food company has formally signed a franchise agreement with Texas-based Golden Chick Restaurants, a fast-food chain with a global presence.

Crescent Star Insurance, which is the 100% owner of the recently established Crescent Star Foods, said in a notice on Monday that its food subsidiary signed the agreement with the American company on August 7.

In its annual report, Crescent Star Insurance had hinted at making a long-term investment of Rs70 million in Crescent Star Foods.

The company will roll out as many as 30 food outlets in the next 10 years in different cities of Pakistan. The first outlet is expected to be operational by December 2015.

Read more » The Express Tribune
See more » http://tribune.com.pk/story/935784/fast-food-joint-golden-chick-restaurants-preparing-to-land-in-pakistan/

Investing with confidence: Chinese say their money is safe in Pakistan

By Shahram Haq

ISLAMABAD: Chinese businessmen have said investments they are putting in Pakistan are safe as both the countries enjoy excellent relations at government and public level.

“The global investments we make in any country depend on the nature of relationships between China and the particular country,” said Orient Evertrust Capital Group’s Chairman Jiang Xue Ming, while talking with The Express Tribune.

“Since Pakistan and China have excellent relationships, so we feel our investments in this country are completely safe,” he added.

A group of Chinese investors is currently in Islamabad as the Chinese president is arriving in Pakistan today (Monday) to sign some 50 different accords worth $46 billion, majority of which are energy based.

Read more » The Express Tribune
See more » http://tribune.com.pk/story/872766/investing-with-confidence-chinese-say-their-money-is-safe-in-pakistan/

Toyota to move Corolla production from Canada to Mexico to cut costs

Toyota to move Corolla production to Mexico to cut costs

(Reuters) – Toyota Motor Corp 7203.T, the world’s biggest automaker, plans to move production of its Corolla compact cars to a new factory in Mexico from Canada to benefit from lower costs, the Globe and Mail reported, citing sources familiar with the situation.

Costs at Toyota’s assembly plants at Cambridge and Woodstock in Ontario are higher than at its U.S. factories and it makes sense to produce the more expensive vehicles in Canada, the newspaper quoted sources familiar with the matter as saying.

Sources told Reuters that Toyota will spend $1 billion to build a car factory in Mexico, which is expected to begin functioning from the summer of 2019, ending a self-imposed three-year freeze on new investments. Toyota also plans to announce a new car factory in Guangzhou, China, this week.

Continue reading Toyota to move Corolla production from Canada to Mexico to cut costs

Qatar prince ready to invest Rs 1 lakh crore in 10 smart cities

Has formed JV with Delhi businessman and held meeting with UP, AP CMs

By BS Reporter

The government may be inviting the Americans, Chinese and Japanese to invest in India, but just one person is ready to put in Rs 1 lakh crore over the next five years.

Enthused with the new government’s spirited approach towards new investment, a prince of Qatar, Hamad Bin Nasser A A Al-Thani, member of the ruling family, is looking at investing the sum in at least 10 smart cities.

The 51-year-old has already tied up with a 31-year-old Delhi-based businessman, Mitesh Sharma, for taking the investment forward through projects in real estate, sea ports and airports, besides smart cities. According to a person working for Hamad, the two recently registered a company, NRS Enterprise Pvt Ltd, in India through which the investment would be routed.

“Prime Minister Narendra Modi’s ambitious ‘smart cities’ project has caught the attention of the prince. The investment will be made over the next five years,” said the person.

The investment announcement came after the two partners met Uttar Pradesh chief minister Akhilesh Yadav on November 20 and his Andhra Pradesh counterpart, Chandrababu Naidu, on November 22.

The focus of this huge investment is on 10 smart-city projects in a first phase, besides power, solar energy, infrastructure development, health care and education. They are aiming for the first project to take off by February-March 2015.

The Union government has decided to support the development of 100 in the country. According to the high power expert committee (HPEC) on investment estimates in urban infrastructure has assessed a per capita investment cost of Rs 43,386 for a 20-year period. Their estimates cover water supply, sewerage, sanitation and transportation.

Continue reading Qatar prince ready to invest Rs 1 lakh crore in 10 smart cities

China to invest $50bn in Pakistan by 2017

ISLAMABAD: China intends to invest as many as $50 billion by 2017 in various sectors of Pakistan’s economy, particularly in energy sector to help the country overcome power crisis and help sustainable economic growth, President Pak-China Joint Chamber of Commerce and Industry Shah Faisal Afridi said.
“China has planned to replicate the model of Shanghai Free Trade Zone (SFTZ) by investing $50 billion into a number of projects including coal, solar and wind energy till 2017 under Early Harvest Programme,” Faisal said.
These projects would enable Gawadar to create a nexus between Pakistan, Iran, China and Central Asian States that would ultimately generate billions of dollars in revenues along with huge job opportunities in the region.
Afridi said that SFTZ is a perfect model to be implemented at Gwadar, asserting, the SFTZ was first used as a testing ground for a number of economic sectors.
The zone, he said, incorporated numerous relaxations in different sectors, under the FTZ’s new capital registration system, foreign investors were no longer required to contribute 15 percent capital within three months and full capital within two years of the establishment of a foreign invested enterprise (FIE).
Meanwhile, official sources said that in addition to invest in power projects, China was also interested in already working in various projects of motorways and railways.
On energy front, Pakistan has been already working to generate about 10400 megawatt electricity with the help of Chinese investment and several projects were already underway to overcome energy crisis.
Beijing has designated three banks including Exim Bank that will provide loans to Chinese companies for investment in power, railway and transport sectors in Pakistan.

Read more » http://defence.pk/threads/china-to-invest-50bn-in-pakistan-by-2017.333769/

Pakistan wins $42b Chinese investment

Pakistan, China sign 19 agreements, MoUs relating to China-Pakistan Economic Corridor and electricity generation New pacts pave way for Chinese state-owned companies to help build at least four new power stations in Pakistan Chinese president, PM Sharif say Pakistan-China are ‘iron friends’, aim to create green channel for release of funds for development projects in Pakistan PM assures crackdown on terrorist forces such as the East Turkistan Islamic Movement and maintaining regional stability    China on Saturday promised Pakistan investments worth $42 billion, an official said, as Islamabad promised to help Beijing fight what it calls a terrorist threat in its far-west.  Prime Minister Nawaz Sharif oversaw the signing of 19 agreements and memorandums mostly centred on the energy sector as he met Chinese President Xi Jinping at the Great Hall of the People during his three-day visit to Beijing to discuss bilateral relations and the regional situation in Beijing.

Read more » Pakistan Today
http://www.pakistantoday.com.pk/2014/11/08/national/pakistan-wins-42b-chinese-investment/

Stalin-Mao roles reversed as Putin visits China seeking investment

Stalin-Mao Roles Reverse as Putin Courts China Investment

By Stepan Kravchenko and Henry Meyer

China, which relied on Soviet aid during the era of Joseph Stalinand Mao Zedong, has turned the tables as Russian PresidentVladimir Putin visits Shanghai.

The Russian leader starts a two-day visit to China today, seeking to complete an agreement on natural gas supplies to the world’s second-largest economy, held up for more than a decade because of a debate over the price. The contract is “nearly finalized,” Putin told Chinese media in aninterview published yesterday.

Putin is looking to cement ties with China as the conflict in Ukraine alienates him from the U.S. and its European allies. The relationship with China, Russia’s biggest trading partner after the two-way volume surged sevenfold in the past decade to $94 billion last year, is becoming even more important as escalating sanctions threaten to tip the economy into recession.

“As Russia’s relations with the West deteriorate, its ties with China will need to grow stronger,” Dmitri Trenin, director of the Carnegie Moscow Center, said by e-mail. “Beijing, rather than Moscow, will be the senior power.”

That role reversal is underscored by the disparity of the two countries’ economic development during the past 35 years. In 1979, as Deng Xiaoping started an economic overhaul, China’s output was 40 percent of the Soviet Russian Republic’s — the present-day Russian Federation, according to astudy published this year by the Center for European Reform. By 2010, China’s economy had become four times the size of Russia’s, it said.

Read more » Bloomberg
http://www.bloomberg.com/news/2014-05-19/stalin-mao-roles-reverse-as-cold-shouldered-putin-courts-chinese.html

Pakistan – UAE firm signs $2.5bn multi-project MoU

ISLAMABAD: On first day of its first visit to Pakistan, Arab National Construction (ANC) Holdings of Dubai was able to sign a memorandum of understanding (MoU) with the government to set up two coal-based power projects at Gadani, a jetty for coal import and a transmission line to add 1,320 megawatts of electricity to national grid at an investment of $2.5 billion.

Read more » DAWN
http://www.dawn.com/news/1091247/uae-firm-signs-25bn-multi-project-mou

View from McLeod Road: Why the Sino-Pak alliance is economically worthless

In the 12-year period between July 2000 and June 2012, net foreign investment in Pakistan amounted to about $29 billion, of that, just $0.8 billion came from China

KARACHI: Pakistan’s leaders love using laughably outrageous metaphors in describing the country’s relationship with China, yet the truth is that this so-called alliance means almost nothing positive for the Pakistani economy.

All of Islamabad – indeed all of Pakistan – appears to be bending over backwards in laying out the red carpet to welcome Chinese Premier Li Keqiang. But the fact of the matter is that China will give Pakistan almost nothing, and this two-day trip is really only being made by the Chinese premier to avoid slapping Islamabad in the face completely, after having made his first trip abroad a three-day visit to India, in a key signal about the real shifts in Chinese foreign policy.

Pakistanis love to proclaim China as our “all-weather friend. In his last visit to China, former Prime Minister Yusuf Raza Gilani described the relationship ashigher than mountains, deeper than oceans, stronger than steel and sweeter than honey.”

On this trip, Premier Li described the relationship as “a tree, now exuberant with abundant fruits”.

This was not him being poetic. It was delivering a message that nobody in Pakistan seems to have gotten: that China’s ties with Pakistan are not some eternal alliance of friends, but a strictly utilitarian relationship in which Beijing uses Islamabad occasionally to scare the living daylights out of the United States and India to get what it wants in its negotiations with Washington and New Delhi, and then abandons Pakistan once that transaction is completed.

A look at the numbers suggests that the Islamabad-Beijing relationship has had very little benefit for Pakistan as whole.

In the 12-year period between July 2000 and June 2012, net foreign investment in Pakistan amounted to about $29 billion, according to the State Bank of Pakistan. Of that, just $0.8 billion came from China, and nearly all of that was China Mobile’s investment in Zong.

China’s investment in Pakistan is less than that of tiny Netherlands, which invested $1.4 billion during that time. The supposed “Great Satan” – the United States – invested the most in Pakistan: $7.7 billion, or more than a quarter of all foreign investment in the country. There is only one major Chinese company with actual investments in Pakistan: China Mobile. The number of major US companies investing in Pakistan? More than 30.

Continue reading View from McLeod Road: Why the Sino-Pak alliance is economically worthless

Pak-Japan bilateral relations with focus on promoting trade and investment ties

Japanese Ambassador calls on the President

Islamabad; May 24, 2013: Japanese Ambassador in Pakistan Mr. Hiroshi Oe today called on President Asif Ali Zardari at the Aiwan-e-Sadr. Pak-Japan bilateral relations with focus on promoting trade and investment ties between the two countries were discussed during the meeting.

Courtesy: http://mediacellppp.wordpress.com/2013/05/24/japanese-ambassador-calls-on-the-president/?utm_source=twitterfeed&utm_medium=facebook

via Facebook

JSQM averse to Chinese investment in Zulfikarabad

By: Ramzan Chandio

SINDH : KARACHI – To protest against the Chinese government’s promised help in the controversial Zulfikarabad project, the workers of the nationalist party Jeay Sindh Qaumi Mahaz staged a protest rally, but police stopped them by putting containers on the roads leading towards Chinese Consulate in the city on Thursday. The JSQM workers scheduled to take a rally from Gulshan-e-Hadeed in Malir area to the Chinese Consulate in Clifton, but when the workers reached Steel Town, where police already created hindrances and blocked the road by placing containers. Scuffles also witnessed among the workers of JSQM, who were taken out a rally led by their acting chairman Niaz Kalani. When police stopped, the workers staged sit-in on the Indus Highway. However, JSQM Acting Chairman Dr Niaz Kalani while addressing the protesting workers said that our protest rally, scheduled sit-in in front of the Chinese consulate was completely peaceful but the police have tried for bloodshed by restraining it. Dr Kalani also announced to stage protest processions, rallies and sit-in from July 18 against the Chinese government’s support for the controversial project of Zulfikarabad. … the Chinese government is supporting the controversial project, which is against the interest of Sindh. …. The JSQM chief … the Chinese company to keep away of making investment in the controversial Zulfikarabad project, …. .. Earlier, a protest rally was carried out by the JSQM led by its Acting Chairman Dr Niaz Kalani including central leaders Asif Baladi, Sagar Hanif Burrdi, Sarfraz Memon, Maqsood Qureshi and others. The rally was started from Gulshan-e-Hadeed – the residence of JSQM’s deceased chairman Bashir Khan Qureshi towards Chinese consulate through National Highway. A huge number of law enforcement agencies’ personnel including police and rangers were already deployed on the way of rally. The police blocked the roads by placing trucks and buses at around 10 am on national highway at Steel Town Roundabout, which prompted the JSQM workers to end their rally and disperse at the scene. The sit-in was continued for about three hours on National Highway. Later they dispersed peacefully. Meanwhile, heavy contingent of police was deployed and containers were put on the roads leading towards the Chinese Consulate in Clifton which caused difficulties for the citizens. It may be noted that nationalist parties are continuously staging protests and rallies against the Zulfiqarabad project, terming it as anti-Sindh, which will turn the indigenous people of Sindh into minority.

Continue reading JSQM averse to Chinese investment in Zulfikarabad

India-Pakistan Trade: Making Borders Irrelevant

By: Tara Beteille, co-authors: Kalpana Kochhar

In our blog post last November, we discussed Pakistan’s decision to grant India most favored nation (MFN) status. We were hopeful about the gains from easier trade between the two, but noted the many stumbling blocks in between. In the past 20 weeks, both countries have made serious efforts to address these blocks. Things are looking good. Here is an update.

Both countries mean business

In addition to the goodwill gesture of Pakistani President Asif Ali Zardari visiting India this April and Indian Prime Minister Manmohan Singh considering visiting Pakistan, important issues addressed include:

  • Pakistan issued an order in March 2012 to move from a positive list of 2,000 items for India to a negative list of 1,209 banned items. Pakistan intends to phase out the negative list altogether and formally give India MFN status by the end of 2012.
  • India, which formally granted Pakistan MFN status in 1996 (but maintained barriers) has agreed to reduce its sensitive list of 865 items by 30% within four months. India has also agreed in principle to allow Pakistani foreign direct investment in the country.
  • Both countries recently agreed to allow yearlong multiple-entry visas for business visitors, with visitors allowed to enter and exit through different cities.
  • The two countries have agreed to allow each other’s central banks – the Reserve Bank of India and the State Bank of Pakistan – to open bank branches across borders to facilitate financial transactions and ensure smooth trade.
  • A second checkpost gate was inaugurated this March at the Attari-Wagah border to ease road traffic between the two countries. The checkpost, with elaborate security features and capable of accommodating 600 trucks at a time, will provide upgraded infrastructure, including new storage go-downs, wide roads, and a luxurious passenger terminal.

Opportunities and gains

Making borders irrelevant can have far-reaching effects for economic prosperity across sectors in Pakistan and India. Consider a key driver of growth: electricity. South Asia’s recent More and Better Jobs flagship report estimated that industrial load shedding in Pakistan has resulted in the loss of 400,000 jobs. Trade between energy surplus and deficit regions could counter such losses — indeed, Pakistan is already in negotiations with India to import up to 500 MW of electricity.

Continue reading India-Pakistan Trade: Making Borders Irrelevant

Pakistan needs development, which requires peace, stability, and friendly relations with neighbors

By Gul Agha

Pakistani Rupee is now down almost 90:1 against US$, it means high inflation as capital flees and expect worse.. it was like Rs 2 to US$ in 1940s! Pakistan will likely suffer sanctions like North Korea after the US withdrawal from Afghanistan in 2014, if not sooner. Poverty stricken Pakistan needs development, which requires peace and stability, and particularly friendly relations with giant neighbors — and investment in education and welfare, not in the military.

Source- adopted from Gul Agha’s facebook wall.

China Pullout Deals Blow to Pakistan

Mining Company Abandons $19 Billion Pact; Move Is Setback to Islamabad’s Effort to Establish Beijing as Foil to U.S.

By TOM WRIGHT in New Delhi and JEREMY PAGE in Beijing

A Chinese mining company pulled out of what was to be Pakistan’s largest foreign-investment deal because of security concerns, complicating Islamabad’s effort to position its giant neighbor as an alternative to the U.S. as its main ally.

An official at China Kingho Group, one of China’s largest private coal miners, said on Thursday it had backed out in August from a $19 billion deal in southern Sindh province because of concerns for its personnel after recent bombings in Pakistan’s major cities. …

Read more » The Wall Street Journal

SINDH NEEDS INDUSTRIAL DEVELOPMENT

by Dr Ali Akbar Dhakan, Karachi, Sindh

All the macro economic objectives can be obtained through the development of industries both small and large scale because they provide employment facilities, increase supply of goods, boost up exports, control inflation and price hike, reduce poverty and provide chances of prosperity through improvement of purchasing power of the common people .The problem of unemployment in Sindh particularly in Rural areas is due to lack of focus and attention to be given to the development of this sector.

Continue reading SINDH NEEDS INDUSTRIAL DEVELOPMENT

The Chinese Cozy Up to the Pakistanis

by Selig S. Harrison

China’s expanding reach is a natural and acceptable accompaniment of its growing power—but only up to a point.

Beijing is understandably challenging a century of U.S. dominance in the Pacific and the South China Sea immediately adjacent to its shores. But the aggressive effort to block Indian hegemony in South Asia, reflected in its growing ties with Pakistan and its territorial claim to the adjacent northeast state of Arunachal Pradesh (for which there is no historical basis) is more ominous.

In contrast to its studied neutrality on the Kashmir issue in past decades, Beijing is now openly supportive of Pakistan and is establishing its economic and political influence both in Pakistan-occupied Azad (Free) Kashmir and in the Himalayan state of Gilgit-Baltistan. …

Read more : The National Interest

The truth about Reko Diq

By Farooq Tirmizi

How valuable is one’s wealth if it is buried underground and one has no way of getting it out? And what would one say to somebody who came along and volunteered to extract this wealth, providing all of the technical expertise and putting up the entire investment costs, and letting you keep half of the profits? Would it be fair to say that this person was indulging in exploitative behaviour? Or would we say that a fair deal was on offer?

The above scenario is not hypothetical. It is exactly what is currently going on in the case of the Reko Diq mining project in Balochistan. The Tethyan Copper Company, a joint venture between Canada’s Barrick Gold and Chile’s Antofagasta, has spent $220 million to explore the Reko Diq area and, having discovered a feasible reserve of minerals, is now willing to spend the further $3.3 billion it would take to extract the minerals. And yet it is being treated like a neo-imperialist villain out to pillage Pakistan’s national treasures. …

Read more : The Express Tribune

 

Pakistan nears bankruptcy, yet its Army poaches most of the resources of the nation

As Pakistan nears bankruptcy, patience of foreign lenders wears thin

BY GRAEME SMITH

ISLAMABAD — A terrifying kind of mathematics has become popular among aid workers, analysts and others who spend their lives tracking the fate of Pakistan. It’s a back-of-the-envelope calculation about how the country will get through the coming years without declaring bankruptcy: take the country’s foreign debt ($53-billion), add interest, subtract the $1.8-billion that won’t arrive as scheduled on Jan. 1 from the International Monetary Fund because Islamabad failed to meet loan conditions. Add the staggering cost, perhaps $10-billion, of rebuilding after summer floods.

The numbers seem bleak. The government floated the possibility last week of running a deficit for the coming year of $15-billion.

Islamabad’s latest plan to raise revenue, a reformed tax law, has become bogged down by stubborn opposition parties, front-page criticism and street protests. The cabinet’s economic team is threatening to quit.

Pakistan needs a bailout. But is the country still a good investment?

“That’s the conversation people are having now, about whether you’d be throwing good money after bad,” said Mosharraf Zaidi, a development expert and policy analyst based in Islamabad.

The international community has accused Pakistan of poor financial management for years. Cables recently posted by the website WikiLeaks show a U.S. intelligence official complaining in 2008 about the country’s preference for spending money on strategic military hardware instead of development: “Despite pending economic catastrophe, Pakistan is producing nuclear weapons at a faster rate than any other country in the world.” …

READ MORE : Globe and Mail

The Reko Diq fiasco

By Feisal Naqvi

The interesting thing about the internet is that it is as great a force-multiplier for ignorance as for knowledge. Take, for example, the Reko Diq project. The average Pakistani newsreader is convinced that (a) the Federal Government is an evil stooge of western interests; (b) the people of Balochistan are being ripped off yet again; and, (c) it is now up to the Supreme Court to save us. All three beliefs are completely wrong. Here are some facts about the Reko Diq project.

Read more : Pakistan Today

Sweden considering $300m investment in Sindh

* Areas of interest include solar and wind energy, technical education, tourism, industries, agriculture, public-private partnership, livestock and fisheries

KARACHI: Swedish government is exploring the potential of investment in various areas of Sindh intends to put in $300 million.

The head of Swedish trade delegation and Minister of Trade Ewa Bjorling said that her delegation’s visit to Pakistan is to explore the possibilities of investment as Sweden government intends to invest $300 million in Pakistan. …

Read more : Daily Times