July 20, 2017 - AsiaNet-Pakistan

Archive for July 20th, 2017

‫بنك Union Bancaire Privée يكشف عن قوة نتائجه للنصف الأول من العام بزيادة في صافي الربح أكثر من 20% محققاً 110 ملايين فرنك سويسري

July 20, 2017 | Business, Other Language, Urdu

نتائج النصف الأول لعام 2017 جنيف، 20 يوليو 2017 بلغ صافي الربح 109.5 ملايين بنهاية يونيو 2017 مقارنةً مع 89.9 مليون فرنك سويسري بالعام الماضي محققًا زيادة قدرها 6%. بلغ إجمالي الأصول تحت الإدارة 118.9 مليار فرنك سويسري في النصف الأول من السنة. تعزيز النتائج بفضل قوة الأنشطة التشغيلية شهدت الإيرادات التشغيلية ارتفاعًا بمقدار 12.5% […]

Read More

Union Bancaire Privée announces strong first half-year results; increasing net profit by more than 20% to CHF 110 million

July 20, 2017 | Business

First half-year results 2017 Union Bancaire Privée announces strong first half-year results; increasing net profit by more than 20% to CHF 110 million Geneva, 20 July 2017 Net profit at the end of June 2017 was CHF 109.5 million, up 21.6% from CHF 89.9 million a year earlier. Assets under management totalled CHF 118.9 billion at the half-year. Strong operational activity boosts […]

Read More

PMLN GOVT TO FULFILL ITS PROMISES TO PEOPLE AT ALL COSTS: SHAHBAZ

July 20, 2017 | Entertainment

Punjab Chief Minister Shahbaz Sharif says PML-N government will fulfill its promises to people at all costs.In a statement issued in Lahore on Thursday, he said the well-aware people of Pakistan want development and prosperity of the county.The Chief M…

Read More

China Calls Pakistan’s CPEC Fastest and Most Effective of BRI Projects

July 20, 2017 | Legal & Politics

ISLAMABAD � China says its large economic collaboration program with Pakistan has entered the stage of early harvest”, making it the fastest and most effective” among all projects in Beijing’s Belt and Road Initiative, or BRI.

President Xi Jinping launched the China-Pakistan Economic Corridor, or CPEC, two years ago, during his landmark visit to Islamabad. Cooperation has since cemented decades-old relations between the traditionally close allies.

China is investing about $60 billion on a network of roads, railways, fiber optic cables, energy pipelines, industrial clusters and special economic zones in Pakistan.

The corridor will link China’s western region of Xinjiang to the Pakistani port of Gwadar on the Arabian Sea, giving the Chinese region the shortest trade route to international markets.

China’s acting ambassador to Islamabad, Lijian Zhao, says that 19 CPEC projects worth about $19 billion are either completed or in progress.

CPEC, as a pilot and major project of BRI, is now the fastest and most effective project among all the projects under the BRI, he told a seminar in Islamabad.

He described the cooperation as an unprecedented undertaking in the history of China-Pakistan relations.

Economic cooperation connected to CPEC has employed thousands of Pakistanis and officials anticipate tens of thousands more will be hired in the next few years.

Gwadar is in Pakistan’s Baluchistan province, where deadly attacks on CPEC workers have taken place in recent months.

Some critics in Pakistan have raised concerns about the viability of CPEC, while others have questioned its implications for the country. But officials dismiss the skepticism as unfounded.

Despite (the fact) there is this criticism and noises here and there, after this four years of hard work and joint efforts of both countries, the CPEC has not been affected by those noises. I can report to you that CPEC is going on very well on the ground, said the Chinese envoy. He did not elaborate further.

Most of the CPEC projects are in Baluchistan. Pakistani officials allege rival India’s intelligence agency is behind the militant attacks in the province in an attempt to sabotage the Chinese investment.

New Delhi denies the charge, but officials there have voiced concerns over the corridor because it passes through the Pakistan-controlled portion of Kashmir, which is divided between India and Pakistan and both claim the Himalayan region in its entirety.

Pakistan’s foreign secretary, Tehmina Janjua, while addressing the conference, explained security challenges facing her country’s project with China.

May I point out, unfortunately, our eastern neighbor (India) has publicly announced its opposition to CPEC. The grounds they give for their opposition are baseless, Janjua noted.

She went on to denounce India’s opposition as appalling for a project that she said would bring development and prosperity to the people of Kashmir.

China and Pakistan stand shoulder to shoulder in developing CPEC on the agreed time lines. We will continue to march ahead with complete determination, ignoring the negative voices and forcefully responding to any threat to CPEC, said Janjua.

The Pakistani military has deployed thousands of security personnel to guard the projects and protect Chinese experts and workers.

China has also rejected reported U.S. concerns China plans to turn Gwadar into a Chinese naval base.

Major infrastructure projects being established in the Chinese-funded port of Gwadar include a Free Zone and a new international airport that will be operational by next year, officials say.

While new highways are being built and existing roads upgraded to link areas under CPEC, a coal fired power plant in the central city of Sahiwal has recently been completed, adding 1,320-megawatts of electricity to Pakistan’s national grid.

A second 1,320-megawatt coal fired power plant in the southern port city of Karachi is expected to be inaugurated by November at an estimated cast of about $2 billion.

China is also focusing on upgrading Pakistan’s railways, increasing average speeds to about 180 kilometers an hour from the current average of 80 kilometers an hour, said Chinese envoy Zhao.

Source: Voice of America

Read More

PML-N GOVT NOT TO STEP BACK FROM PUBLIC SERVICE MISSION: SHAHBAZ

July 20, 2017 | Education

Punjab Chief Minister Shahbaz Sharif has said PML-N government will not step back from its mission of public service despite the hue and cry being raised by the opponents.He stated this during a meeting with the members of National Assembly from variou…

Read More

Pakistan Report: Militants Operating With Impunity in Sindh Province Prisons

July 20, 2017 | Business

Convicted militants and criminals imprisoned in Pakistan’s Sindh province are reportedly running day-to-day affairs of the same prisons they are held captive in, according to a recent report by the province’s Counter Terrorism Department (CTD).The CTD …

Read More