India’s Oil Appetite is Growing, And Its Refineries Can’t Keep Up

AUG 28, 2018 (BE2C2): India will pass China by the middle of the next decade as the country with the biggest appetite for oil and its refineries can’t keep up, Wood Mackenzie found. The world renowned energy consulting group expects India will pass China as the country with the largest demand for oil by 2024, […]

Dubai Is Now Buyer’s and Tenant’s Market, Property Stats Show

AUG 28, 2018 (BE2C2 Report): Dubai has seen prices softening since 2015. As a result, we believe we must be close to the bottom of the market, therefore this is an excellent time to invest. What seems to have dragged down the property selling and renting prices are a mixed bag of local and international […]

11 Pakistani Companies Participating in Foodex Saudi 2018

AUG 27, 2018 (BE2C2): Jeddah will host on Nov. 12-15 the 6th edition of ‘Foodex Saudi’, in which 11 Pakistani companies will showcase their products among 600 international brands from more than 32 countries to attract influential Saudi food importers, distributors, and investors. Shahzad Ahmad Khan, commercial consul in Jeddah of the Republic of Pakistan, […]

Air Pollution Is ‘Reducing Life Expectancy In South Asia –By More Than 1.5 Yrs’

AUG 27, 2018 (BE2C2 Report): For the first time scientists have analyzed the effects of air pollution on life expectancy across Earth’s entire human population. The new research suggests particulate emissions shorten human lives by more than a year. The research on impact of air pollution — both outside and inside houses — on life […]

Saudi Aramco IPO Plan Halted, Oil Giant Disbands Advisors

Saudi economy overall has turned a corner due to higher oil revenue and other reforms that involve boosting non-oil revenue AUG 24, 2018: Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources told Reuters. The […]

Burdened With Debt, Malaysia Cancels China’s $22Bn Belt and Road Projects for Now

The $20bn rail project was centerpiece of China’s infrastructure push in Malaysia but work has been suspended pending discussions over pricing and graft accusations AUG 21, 2018: Malaysia will shelve three China-backed projects worth a total $22 billion until the debt-laden Southeast Asian nation can afford to pay for them, Prime Minister Mahathir Mohamad said […]

Pakistani Mangoes Get a Thumbs Up From Chinese, Turkish

AUG 15, 2018: The export of Pakistani mangoes to China is expected to exceed 10,000 tons this year, said Zhao Lijian, Minister Counselor of the Chinese Embassy in Pakistan according to Chinese media report Wednesday. The senior Chinese diplomat said on social media that Pakistani mango has been deeply loved by Chinese consumers. The CPEC […]

Saudi Interested in Heavy Investment in Pakistan, Crown Prince Tells Khan Sahib

This is third such contact between leaders of the two countries in as many days AUG 14, 2018: Saudi Crown Prince Mohammed bin Salman has told prime minister-in-waiting Imran Khan that the kingdom was very much interested in investing heavily in a bid to strengthen its trade ties with Pakistan. The crown prince also congratulated […]

US-Turkey Row Could Jeopardize $1.5B Helicopter Deal Between Pakistan and Turkey

AUG 13, 2018: An escalating diplomatic crisis between NATO allies Turkey and the United States may risk suspending a $1.5 billion deal between Turkey and Pakistan for the sale of 30 Turkish-made T129 ATAK helicopter gunships. The T129 being produced by Turkish Aerospace Industries under license from the Italian-British company AgustaWestland are helicopter gunships which […]

Overseas Pakistanis Remittances Surge 25 Pct in July, 21 Pct in June

AUG 12, 2018 (BE2C2): In a positive development, the remittances received from overseas Pakistanis rose markedly in July 2018 exceeding the average monthly figures for FY2018 and FY2017, according to data released by the central bank on Friday. Remittances in the first month (July) of fiscal year 2019, went up 25.17% compared to $1.54 billion […]

“Chaunsa Pakistani” Mango Branding Gets Overwhelming Response in Jeddah

AUG 10, 2018 (BE2C2): Pakistan Consulate in Jeddah organized Emerging Pakistan Mango Branding Event “Chaunsa Pakistani” at a local hotel in the Kingdom’s commercial capital, with the aim to further enhance market share by value addition through branding of country’s premier quality mango “Chaunsa” in Saudi Arabia. The event held in collaboration with Roomi Foods […]

“If They Have Their Dollars, We Have Our People, Our God”: Erdogan

Turkish lira plunged 15% versus dollar Friday after Trump authorizes doubling metals tariffs on Turkey; Erdogan said Turkey was facing an “economic war” and noted the country would respond to those countries who had started it. AUG 10, 2018: The Turkish lira added to its steep losses on Friday, hitting a fresh record low, after […]

Foreign Minister Clarifies ‘Exxon Exploration’ of Oil Reserves in Pakistan’s Deep Sea

AUG 8, 2018 (BE2C2 Report): Clarifying media reports regarding exploration of oil reserves in Pakistan’s deep sea continental shelf, Foreign Minister Abdullah Hussain Haroon on Wednesday said the drilling was yet to start. “On my return to Islamabad, a statement in Dawn newspaper dated August 4, was brought to my attention which required elucidation,” the […]

New Cinemas in Saudi Arabia Record 95Pct Occupancy

AUG 5, 2018 (BE2C2 Report): Majid Al Futtaim’s cinemas in Saudi Arabia have achieved a 95% occupancy rate since their inauguration in April, CEO of Majid Al Futtaim Cinemas Cameron Mitchell told Russia’s Sputnik news agency. Saudi cinemas have received 75,000 visitors of different ages, Mitchell added. The U.A.E.-based Majid Al Futtaim’s Vox Cinemas is […]

PTI Considers Mass Privatization Of State Enterprises Including IMF Bailout

“We are looking at (other) options (also) including raising money from the Pakistani diaspora, new sukuk [Islamic] bonds and requesting Saudi Arabia to defer our oil payments” AUG 3, 2018 (BE2C2 Report): The PTI-led coalition setup at the Center will place all of Pakistan’s state-owned companies into a special fund to be managed at arm’s […]

Pakistani Engineer Turns Straw Waste Into Clean Fuel (Video)

AUG 3, 2018 (BE2C2): A Pakistani engineer has designed a system to help developing countries avoid fuel imports by making ethanol with the millions of tons of straw that are wasted each year. Syed Hussain Abid who has done his Masters in Innovation Design Engineering from Imperial College London, says the country produces over 50 […]

De-Coupling US Concerns Regarding China Loans and IMF Bailout

Loans given by China to Pakistan has a 30-year length and a five-year grace period, meaning there would be no repayments for the first five years; and for the next five years, Pakistan’s total annual debt repayments and profit expatriation by Chinese companies would be below $1 billion until 2023. AUG 2, 2018 (BE2C2 Report): […]

Amnesty Scheme Yields $1.2 Billion in Taxes, $18 Billion in Hidden Assets Whitened

The FBR has fetched Rs97 billion from declarants, of which Rs36 billion have been retrieved on overseas assets, Rs61 billion on domestic assets, and $40 million has been repatriated. JUL 31, 2018 (BE2C2): The tax amnesty scheme has encouraged more than 64,000 individuals to avail the opportunity, paying Rs107 billion in taxes on the value […]

Saudi Arabia Halts Basmati Rice Imports From India, Exporters Urge Govt Intervention

JUL 31, 2018 (BE2C2): India’s Basmati Rice exporters have urged its federal government to initiate steps to resume export to Saudi Arabia which halted Rice imports from India since June for non-compliance with its new maximum level of pesticide residues in food items. Exporters warn that the development will significantly shrink India’s share in the […]

Connecting The Dots: Why UN Anti-Money Laundering Dept Launched Probe Against Nawaz

Connecting the Dots: Banks: Habib Bank NY Branch; Al Rajhi Bank, Jeddah; Standard Chartered Bank, Lahore; Account Holders: Hill Metals, Nawaz Sharif, et al JUL 22, 2018 (Updated): The United Nations anti-money laundering department has decided to start investigations against Nawaz Sharif, the former PM who was recently sentenced to 10-years imprisonment for living beyond […]