Economy

Pakistan may never get its wealth back from Swiss Banks

Pakistan may never get its wealth back from Swiss Banks

Pakistan and Switzerland have signed a revised pact to improve bilateral exchange of information regime regarding Swiss bank accounts. However, there are bleak chances of recovery of $200 billion hidden by Pakistanis in the Alpine State. Switzerland’s Ambassador to Islamabad Marc George and the Federal Board of Revenue Chairman Dr Mohammad Irshad on Wednesday signed the revised Avoidance of Double …

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Gwadar’s mixed emotions on CPEC

Gwadar's mixed emotions on CPEC

small compound in Gwadar town’s old area is littered with coils of polyvinyl chloride (PVC). Around six workers calibrate a moulding machine mounted inside a parked truck and pass the coils through it. Pipes of different diameters and sizes come out from the other side. This is Gwadar’s first pipe manufacturing plant. The rudimentary contraption belongs to a famous PVC …

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Pakistan – India water dispute talks begin

The 113th Indo-Pak Indus Water Commission conference commenced in Islamabad Monday. Discussions on disputed projects including Miyar, Lower Kalnai, and Pakal Dul are on the agenda of the two-day meeting between Pakistani officials and the 10-member Indian delegation. The Indian delegation is led by Indian Indus Water Commissioner P.K. Saxena. Pakistan’s Indus Water Commissioner Mirza Asif Baig is leading the Pakistani officials …

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K-Electric deal fails with Abraaj Group

The Abraaj Group will be unable to conclude the $1.8 billion deal for the sale of its stake in K-Electric to China-based Shanghai Electric Power within the agreed time, which would now require it to seek an extension from the buyer as well as the regulator. The delay has occurred due to the failure to settle the financial dispute between …

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Understanding Special Economic Zones under CPEC

A SMALL line in a news story a few days ago caught my eye. The setting was a hearing in the Senate Standing Committee on Planning and Development at which high officials from the Planning Commission were answering questions about the China-Pakistan Economic Corridor (CPEC). The line that caused me to do a double take was this one: “The committee …

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CPEC’s economic benefits obvious

As Chinese investments in the frontier markets have the potential to mitigate repercussions from global economic uncertainties, the Pakistan‘s economy was obvious to see improvement under the China Pakistan Economic Corridor (CPEC). According to Ali Khalpey, an expert at Egyptian investment bank EFG Hermes, the Chinese investments play a very important role in frontier countries, a Chinese newspaper “Global Times …

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Stronger economy key to US national security

Stronger economy key to US national security

Reducing Amer­i­ca’s huge trade deficits would deliver stronger economic growth and improve national security, the White House trade adviser said in a speech that underscored the Trump administration’s harsh view of recent US trade policies. Speaking at a National Association of Business Economics conference, Peter Navarro argued on Monday that China and other trading partners use the proceeds from export …

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With Economy going down, Egypt aims for the stars

On a dusty construction site in the desert on the outskirts of Cairo, a blue glass building glints in the sunlight. The shiny new complex is home to the new Egyptian Space Agency, a reboot of an abandoned 1960s program that the country’s cash-poor government says will produce satellites to drive innovation and discover resources, which it hopes are hiding …

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Economic delusions

And failure to reform Of course the mantra is to win the next general elections, no matter what. Does it not matter if the nation is mired in enormous debt in the process? That is why some experts contend Pakistan will have to negotiate another IMF program for macroeconomic stability Despite some worrying indicators, our leadership remains steadfastly bullish about …

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What can Trump do for the already profitable Wall Street

What can Trump do for the already profitable Wall Street

Wall Street has never been more profitable and that could be a big problem. The banking industry has cheered President Trump’s promise to roll back regulations put in place after the financial crisis to rein in Wall Street. But the industry’s record-setting profits complicate the arguments for rolling back those rules, which banking analysts have said could boost their profits …

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