Business and commerce

China overtakes US as top direct foreign investor in Pakistan

China is overtaking the US as the largest direct foreign investor in Pakistan, with the South Asian nation increasingly favouring its neighbour’s “One Belt, One Road” trade route that is funnelling in billions of dollars and revamping decrepit infrastructure.

With relations frayed between the United States and Pakistan, China has been strengthening its ties to the nation of about 200 million people after it pledged two years ago to loan and finance about US$55 billion (S$77 billion) in a so-called China-Pakistan Economic Corridor (CPEC).

US direct investment in Pakistan stood at US$505 million – from July 2013 to January this year, compared with US$1.82 billion that came from neighbouring China, according to central bank data.

What exactly is insider trading?

A: An “insider” is any person who possesses at least one of the following: 1) access to valuable non-public information about a corporation (this makes a company’s directors and high-level executives insiders) 2) ownership of stock that equals more than 10% of a firm’s equity A common misconception is that all insider trading is illegal, but… read more »

First GE Evolution loco for Pakistan completed

PAKISTAN: The first of 55 Evolution Series ES43ACi diesel locomotives which GE Transportation is building for Pakistan Railways is undergoing final testing ahead of delivery from the USA. The 1 676 mm gauge Class GEU-40 locomotives are to be supplied fully assembled. Pakistan Railways expects to commission the first locomotive by January 2017, and deliveries are scheduled… read more »

Five new auto companies in Pakistan

Board of Investment Chairman Dr Miftah Ismail said that five new auto companies in Pakistan to manufacture cars will be introduced hence, reducing competition and prices for the consumers. He said that Automotive Development Policy was aimed towards providing cheaper cars to consumers with delivery on time. He said that government was making an organization… read more »

Hyundai plans to set up assembly plant in Pakistan

KARACHI:  Nishat Mills Limited (NML), one of the largest integrated textiles mills in the country, on Friday announced that it has resolved to enter in to a Memorandum of Understanding (MoU) with Hyundai Motor Corporation (HMC), Korea and Sojitz Corporation, Japan to set up a green field plant to assemble Hyundai vehicles in Pakistan. The… read more »