Japan Seeking 345,000 Foreign Workers to Ease Labor Shortage

Construction workers are particularly in demand as Japan rushes to finish building venues and other infrastructure for the 2020 Tokyo Olympics. NEW YORK (Dec 8, 2018) — Japan’s parliament passed a bill early Saturday morning that will create a new foreign worker program to help address labor shortages, opening the country’s doors to blue-collar labors […]

Turkey to Scrap Nuclear Plant Deal With Japan Due to Ballooning Costs

** Turkey project is ending with an “amicable divorce.” ** Building an advanced coal plant with reduced carbon dioxide emissions appears to be among the proposals on the table. BE2C2 Report (Dec 5, 2018) — Japan’s Mitsubishi-led public-private consortium is set to abandon a Turkish nuclear power project that had been touted as a model […]

Saudi Construction Costs to Rise With Workload, Labor Cost Next Year

BE2C2 Report: Two key drivers that will determine Saudi construction cost over the next 12 months are workload and labor cost, as project pricing is still very aggressive due to competition for work–besides the traditional areas of buildings and infrastructure, a new entrant in the construction sector are the EPCs and public-private consortiums vying for […]

What is Creativity Worth to Pakistan Economy: $100 Billion?

IRSHAD SALIM (Islamabad) — Researchers have found that creative industries provide a significant contribution to youth employment and careers and are open to people of all backgrounds and ages. Small businesses and individuals are key, and give rise to innovative and agile employers and workers. Creative industries also employ more people than the automotive industry […]

Pak Currency Drops to 135.8 Against US Dollar; IMF Wants ‘Free Float’ Exchange Rate

BE2C2 Report (Islamabad) — Pak currency dropped to Rs135.80 for a US dollar in retail on Saturday due to speculation that authorities are on the brink of further devaluing the rupee. “The recent IMF conditioning to (the government to) devalue rupee to around Rs145-150 against the dollar played on sellers’ mind…people are not coming to […]

A 33-Year-Old Pindi Boy Creates $30 Million Venture Capital Fund

BE2C2 Report (Islamabad, Nov 24, 2018): Rabeel Warraich is Pakistan’s first professional venture capitalist backed by an impressive pack of credentials–earned overseas and recently at home in a very short span of time with lots of hard work. He calls himself a workaholic with passion to chase dreams–something he acquired at Hasan Abdal cadet college […]

Floating Solar Panels For Karachi Could Be a Splash

It’s not a crazy big idea and definitely not as provocative as ‘China cutting’ and ‘land-grabbing’ are. Karachi, the capital of Sindh and the country’s financial hub could monetize its stranded asset–the sea. IRSHAD SALIM (Nov 22, 2018): Floating solar panel technology has been gaining traction as a favorable and cost-effective alternative to land-based photovoltaic […]

Govt Announces Task Force to Boost IT/Telecom Sector, Expected to Add $6 Billion in Export

ISLAMABAD (Nov 15, 2018): With the IT sector growing at a fast pace, Imran-Khan led government’s cabinet has approved formation of a 17-member task force on IT and telecommunications as the country has overwhelming advantages in the sector, particularly in earning foreign exchange. During 2016-17, Pakistan’s IT exports were $3.3 billion, which have jumped to […]

Why ‘Almost All’ Pakistani Banks Were Hacked

Most Pakistani banks maintain only minimum security for its website transactions–the compromise was detected only after it was breached and transactions made successful Returns of Pakistani banks have been around eight percentage higher than regional peers over the last five years KARACHI (Nov 7, 2018): The head of Federal Investigation Agency’s (FIA) Mohammad Shoaib cyber […]

PM Khan Gets a $12Bln Bailout From China, Saudi Arabia –With IMF Card Still On the Table

Observers expect an uptick in the stock market index which after a straight 9-day climb up of 4290 points lost nearly 1000 points in the last two days amid some media reports that China bailout was not a done deal. ISLAMABAD (Nov 6, 2018): In less than a month, the country’s two most trusted friends […]

90 Percent Housing Societies Duck FIA Audit Ordered By Supreme Court

** Data from the FBR and industry surveys estimate that the country’s real estate sector is worth around $700 billion ** The sector has long been known as a major parking lot for black money ISLAMABAD; Nov 4, 2018: Only 51 of the 631 cooperative housing societies operating in the country follow the law, a […]

U.S. Surpasses Russia to Become World’s Top Crude Oil Producer, Aims to Become Top LNG Exporter

Soaring U.S. Crude Oil Production and LNG Exports Forcing Oil Prices Down BE2C2 Report (Nov 3, 2018): U.S. crude oil production has increased significantly during the past ten years, driven mainly by production from tight oil formations using horizontal drilling and hydraulic fracturing,” said U.S. Energy Information Administration (EIA) in its new report. Production hit […]

Pakistan Expected to Receive $6Bln From ‘All-Weather Friend’ China; CPEC May Expand

Pakistan is expected to receive $6 billion economic package from China including investments under CPEC (BE2C2 Report) ISLAMABAD: Prime Minister Imran Khan, who is in Beijing on four-day official visit, called on Chinese counterpart Li Keqiang. On Friday, PM Khan held a meeting with Chinese President Xi Jinping at the Great Hall of the People. […]

NASA Believes it Can Make Rocket Fuel from Martian Soil

BE2C2 Report (Nov 2, 2018): Though scientists are planning to travel to Mars, enough rocket fuel to make a return trip still stands as a major hurdle. However, scientists now believe they can make rocket fuel from Martian soil. In a new study published in IEEE Spectrum, NASA team lead Kurt Leucht wrote about how […]

Saudi Aramco to Go for IPO After Building Up Value-Added Downstream Assets Worldwide

BE2C2 Report (Oct 31, 2018): Saudi Arabia would likely carry out an initial public offering for Saudi Aramco in 2021 after it builds up some downstream assets including petrochemical production locally and globally, Khalid Al-Falih, the country’s energy minister, said. “If you look at the downstream of Aramco it is significant, but is not at […]

‘Halal Coins Only’: First Islamic Cryptocurrency Exchange Being Launched

BE2C2 Report; Oct 30, 2018: UAE based ADAB Solutions is planning to launch the First Islamic Crypto Exchange (FICE) which will be operating “according to the principles of Shariah law.” The company said it is expecting to reach $146 million daily trading and $4.4 billion monthly turnover by 2020. The Shariah compliant crypto project hasn’t […]

China’s Grand Plan At Work To Bypass Strait of Malacca, South China Sea For Oil and Trade

IRSHAD SALIM; Oct 29, 2018: On September 9, Beijing signed a memorandum of understanding (MOU) with Myanmar’s government to establish the China-Myanmar Economic Corridor (CMEC) under its ambitious Belt and Road initiative (BRI) whose flagship project underway in Pakistan is called the the China-Pakistan Economic Corridor (CPEC). Both projects which are being led from the […]

Sense and Sensibility Behind PM Khan’s Trip to Saudi Arabia, China

IRSHAD SALIM; Oct 25, 2018: Prime Minister Imran Khan aims inclusion of his ‘Naya Pakistan’ grand housing  initiative in the China Pakistan Economic Corridor (CPEC) framework, and build five million affordable homes for the middle and low-income during the next five years,  a task that seems doable to some and impossible to others. If PM […]

Russia Aims to Double Its Global LNG Market Share By 2025

ISLAMABAD; Oct 25, 2018: Russia seeks to double its liquefied natural gas (LNG) export market share in less than a decade. While Russia tops the list of countries having huge natural gas reserves, it produced less LNG than what the United States did in 2016. Also, Russia’s share in the LNG global export market was about […]

Rupee Improves Against US Dollar, Stocks Jump to Almost 1600 Points

ISLAMABAD; Oct 23, 2018 (Updated): The US dollar showed downward trend by Rs1.92 against Pakistani rupee in interbank market on Wednesday. Due to decline in US dollar rate, it is being traded at Rs132 — the buying price is Rs131, whereas it is being sold at Rs133. The turn down in US dollar rate has […]