Bearish trend witnessed at PSX

The Pakistan Stock Exchange was bearish today (Wednesday).

The KSE-100 Index closed today (Wednesday) at 34088.56 points as compared to 34190.62 points on the last working day with a negative change of 102.06 points.

The total turnover was 159,680,070 as compared to 144,849,620 on the last working day with K-Electric Limited having the highest turnover of 29,658,000.

Total 349 companies’ transacted shares in the Stock Market today (Wednesday), out of which 112 recorded gains and 202 sustained losses whereas the share price of 35 companies remained unchanged.

Nestle Pakistan recorded the maximum increase in its share price, which was 113.68 rupees while Wyeth Pak LtdXD recorded maximum decrease of 37.20 rupees.

Source: Radio Pakistan

KP Assembly passes budget

Khyber Pakhtunkhwa Assembly today passed budget for fiscal year 2019-20.

The assembly approved all demands for grants amounting to eight hundred and fifty-five billion rupees.

Speaking on the occasion, Leader of the House Mahmood Khan said development of all the backward areas of the province is the top priority of the government.

He said several mega projects including Swat motorway, Rapid Bus Transit Service and Gomal Zam Irrigation project will be completed this year.

He thanked Pak-army for providing their twenty percent budget for development and prosperity of tribal districts.

Parliamentary leader of Awami National Party Sardar Hussain Babak demanded the government to interlink Swat Motorway with Buner district.

Sardar Muhammad Yousaf of PML (N) stressed the need for filling all the vacant positions in the province.

The house also passed Khyber Pakhtunkhwa Finance Bill-2019.

Earlier, the opposition members staged protest by ignoring their cut motions in the budget. They tore copies of the agenda.

The house will now meet again tomorrow at 02:00 pm.

Source: Radio Pakistan

Punjab Assembly passes budget

Punjab Assembly passed Finance Bill during its session in Lahore on Wednesday with majority vote, after which next fiscal year’s Provincial Budget got approved formally.

Later, two bills, The Punjab Water Bill 2019 and The Punjab Sentencing Bill 2019 were introduced in the House which Speaker Chaudhry Parvez Elahi referred to concerned Standing Committee with direction to submit report within two months.

House has now been adjourned to meet again tomorrow at three in the afternoon.

Source: Radio Pakistan

Global Launch of S BLOCK, Kicked Off in Singapore on June 22nd

BERN, Switzerland, June 26, 2019 /PRNewswire/ — The globally renowned 2019 WBF Singapore Technology Conference was held in Marina Bay Sands Hotel on June 22, 2019.  S BLOCK, the conference co-host, unveiled itself and announce its mission to “Unleash your digital assets” for the first time. The conference brought together numerous industry elites and blockchain enthusiasts from all around the world, including more than 500 industry veterans from over 30 countries, such as Switzerland, Germany, France, Russia, Japan, Korea, Brazil, Australia, Argentina and Canada. Insiders shared profound global industry insights. This conference draws great attention from across the global blockchain industry.

S BLOCK Kicked Off in Singapore

On the morning of June 22nd, Ivan – President of S BLOCK Global Foundation, was invited to deliver a keynote speech, “Next Generation Digital Currency Wallet”. At the conference, S BLOCK was officially launched in more than 30 countries around the world, and opened up the way to a global future without borders. At the same time, S BLOCK also signed a strategic agreement with  DUSD and WBFex in this event, which will accelerate the development for S BLOCK.

In the evening of June 22nd, S BLOCK exclusively sponsored the “Fortune Night” after party. The big guns in the industry gathered together to share industry insights, and made unique points about the new trend of the industry development in 2019.

S BLOCK’s Global Journey

As the highlight of the WBF World Tour Singapore Technology Conference, it invited Paul Brody – Head of Blockchain Technology of Ernst & Young, Franklyn Richards – Co-founder of LiteCoin, Dr. Daniel Diemers – PwC Strategy & Partner, Tom Menner – EMEA and many other industry executives, focused on “regulatory technology practices” and digital future to convey the trends in the blockchain 2.0 era. Two days of gatherings, including 4000+ industry experts, 500+ media partners and 100+ speakers definitely made it an enjoyable event which will be well received blockchain users and enthusiasts.

In order to further improve the ecosystem layout and enhance the competitiveness of the products, S BLOCK will continue to develop digital finance business in the world, and finally form a complete global digital financial ecosystem. S BLOCK will gradually aim to achieve the mission of “making assets more free” and expand globally to create a better future.

Jennifer Bialek

Alibaba’s new presence highlights Chongqing Liangjiang New Area’s passion for entrepreneurship, innovation

CHONGQING, China, June 25, 2019 /Xinhua-AsiaNet/– Aliyun Innovation Center (Chongqing) was officially launched in Chongqing  Liangjiang Digital Economy Industrial Park on June 18.

Jointly established by Chongqing Liangjiang New Area, Alibaba Cloud Computing Co., Ltd. and Tsinghua Technology & Innovation Holdings Co.,Ltd, the center is an entrepreneurship and innovation incubation services platform serving industries in internet, cloud computing, big data and digital economy.

The center covers an area of 11,280 square meters with separate areas for office, meeting, negotiation, reception, rest and road show. Targeting incubation of small and medium-sized digital economy enterprises, the center aims to create a digital economy closed loop ecosystem including state-of-the-art technologies of cloud computing, big data, Internet of Things, artificial intelligence, mobile Internet and virtual reality.

The center also launched its CloudX plan on Tuesday, which included the projects to establish an ecological community of professional technical developers, form a circle of innovative peers of CloudX that integrates creative, innovative, entrepreneurial elements with talent, and operate a cloud intelligent college in service of regional digital economy industry talents.

As the largest cloud computing platform in China, Aliyun will provide innovative and entrepreneurial enterprises with a high technical starting point, enabling them to enjoy the same technical platform as the world-renowned Internet companies, according to Chen Bin, vice president of Aliyun intelligent China division, adding that Alibaba, one of the largest digital economies in the world, can offer good support for the cooperation of underlying platforms for innovation and entrepreneurship.

The innovation center has 10 enterprises stationed and it plans to incubate more than 100 high-tech firms in cloud computing, big data, Internet of Things, artificial intelligence and mobile Internet.

The launch of the center is part of Chongqing Liangjiang New Area’s efforts to promote the innovation-driven development strategy.

Since its establishment on June 18, 2010, Chongqing Liangjiang New Area has been giving full play to the strategic advantages of its roles as the first national-level new area, the core area of China Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity and the core area of China (Chongqing) Pilot Free Trade Zone by facilitating scientific and technological innovation. At 7:33 a.m. on May 17, 2018, China’s first private self-developed commercial suborbital rocket, the OS-X rocket “Chongqing Liangjiang Star”, was successfully launched, a legendary example of the new area’s efforts to seek high-quality development through scientific and technological innovation.

Chongqing Liangjiang New Area has released an entrepreneurship and innovation brand that attracts talent to the region. By pooling global scientific and technological innovation talents, Liangjiang New Area seeks to build an international innovation city, innovation region and innovation landmark. Eight national-level incubation platforms have been set up in the region. Local government plans to increase support and optimize the environment for innovation.

For more information, please visit the official website:

Source: Chongqing Liangjiang New Area Administrative Committee

China’s Chongqing awards 37 golden ideas for culture and tourism integration

CHONGQING, China, June 25, 2019 /Xinhua-AsiaNet/– West China’s Chongqing Municipality awarded 37 “golden ideas” for boosting integrated development of its culture and tourism on June 22 as the local government unveiled winners for a contest seeking contributions from around the global. Two top prize winners were each offered 100,000 yuan as a reward. The event was organized byChongqing Municipal Commission of Culture and Tourism Development.

Chongqing launched the global competition on January 16 to collect ideas, plans, and suggestions to provide new inspiration for the high-quality integrated development of the city’s culture and tourism. The competition also served as an opportunity to promote Chongqing’s urban image, tourism, and cultural resources while attracting more tourists and market entities.

The golden idea contest featured both Chinese and English submissions, highlighting the global and professional nature of the competition. A total of 693 valid works have been collected since the competition started. Among the contributors, they came from ordinary citizens and tourists from all over the world, as well as scholars and experts from universities and institutions. There are some participants from the United States, Australia, Singapore, Poland and other countries and regions. Among the winners, there are cultural tourism research institutes, cultural tourism planning organizations, senior experts and industrial KOLs, as well as cultural tourism experts from Australia, Taiwan and other countries and regions.

The award-winning “golden ideas” focus on the integrated development of culture and tourism and the linkage of industries. They center on Chongqing’s five tourism brands of the Three Gorges, the Mountainous City, the Local Culture, the Hot Springs and the Countryside, fully showcasing the city’s cultural, historical and regional characteristics. These opinions and suggestions are of high quality, fresh and feasible, which are very likely to facilitate a new round of upgrading of Chongqing’s cultural tourism industry. The innovative beam of these golden ideas will light up the future of Chongqing’s cultural tourism industry.

Chongqing will take this event as an opportunity to comprehensively beef up its cultural soft power and influence, make every effort to upgrade local tourism growth, promote high-quality development, create high-quality life, and build Chongqing into a strong cultural city and a world-renowned tourist destination.

For more details, please visit the official website (English): or the official website (Chinese):

Source: Chongqing Municipal Commission of Culture and Tourism Development

Chongqing Liangjiang New Area rises from inland economic backwater to opening-up hub

CHONGQING, China, June 25, 2019 /Xinhua-AsiaNet/–A smart logistics joint-venture began construction on June 18. Covering an area of 326 mu (21.7 hectares) with a total investment of US$250 million, the project is jointly developed by Singapore’s Freight Links Group, Figtree Group and Chongqing Pucheng Logistics Co., Ltd.

This project is one of the first under China Singapore  (Chongqing) Demonstration Initiative on Strategic Connectivity, which includes one smart logistics park and three business segments. The smart logistics park can enable intelligent parking, registration, positioning and real-time transmission of traffic conditions as well as real-time monitoring of energy, traffic, environment conditions in the park. The three business segments include international multi-model transport, domestic transport and intra-city supply chain, covering its core businesses in the global market.

Chongqing, China’s newest municipality directly administered under the central government, was officially established on June 18, 1997. Chongqing Liangjiang New Area, the first national-level new area in China’s inland, was set up on the same day 13 years later.

The construction of the smart logistics project well echoed the increasing economic and trade exchanges between Chongqing and Singapore as the municipality marked the 22nd anniversary and the new area celebrated its ninth birthday, according to Duan Chenggang, a senior Chongqing official who oversees the administrations of the Liangjiang New Area.

The project will vigorously promote the integration of the opening-up resources in Chongqing and Liangjiang New Area, enhance the significance of the  New International Land-Sea Trade Corridor, and fully integrate into the joint development of the Belt and Road Initiative and the development of the Yangtze River Economic Belt, Duan added.

After nine years of exploration and practice of opening up as an inland area, Chongqing Liangjiang New Area has completed the transformation from an inland economic backwater to an opening-up hub, becoming an important destination for investment, tourism and talent inflow in the world. More than 150 Fortune 500 enterprises have established their presence in the region, while more than 3,000 investment projects worth over 1.4 trillion yuan have been inked. The strategic emerging industries in the new area have grown by more than 20 percent, digital economy by over 30 percent and foreign trade by more than 15 percent. The added value of financial industry now accounts for more than 18 percent of the local GDP, while R&D spending reaches 3.6 percent of the local GDP, posting strong high-quality development momentum.

Chongqing Liangjiang New Area is building an inland opening-up, port and international logistics hub with core platforms such as Guoyuan Port, the bonded port area, Jiangbeizui international financial center and Yuelai convention and exhibition city. Focusing on Liangjiang Digital Economy Industrial Park, Lijia Smart Eco-City and Liangjiang Collaborative Innovation Zone, the New Area is developing toward a city of innovation, intelligence and future.

For more information, please visit the official website:

Source: Chongqing Liangjiang New Area Administrative Committee