Pakistan-Qatar sign agreement to boost economic ties

Agencies
June 23, 2019

Doha, Jun 23: Pakistan and Qatar, on Saturday, signed three agreements for cooperation in the fields of trade, investment, tourism and financial intelligence as Emir of the Gulf nation Sheikh Tamim bin Hamad Al Thani met Prime Minister Imran Khan.

Qatari Emir arrived in Pakistan on a two-day official visit on Saturday and was accorded a red carpet reception. Prime Minister Khan personally received him at the Nur Khan Airbase in Rawalpindi, near Islamabad.

The two leaders held a one-on-one meeting followed by delegation level talks between the two sides.

“Both the leaders covered the entire gamut of bilateral relations to enhance cooperation in diverse fields,” according to a statement by the Prime Minister’s Office.

Adviser on Commerce Abdul Razak Dawood and Qatari Finance Minister Ali Shareef Al Emadi signed an MoU for establishment of Pakistan-Qatar joint working group on trade and investment.

The second MoU was signed between Minister for Inter Provincial Coordination Fahmida Mirza and Secretary General of Qatar National Tourism Council Akbar Al Baker on cooperation in the fields of tourism and business events.

The third agreement was about cooperation in the field of exchange of financial intelligence, anti-money laundering and to check terror financing.

Pakistan Foreign Office said the Emir was visiting the country at the invitation of Prime Minister Khan. A high-level delegation, including ministers, is accompanying the Emir.

The Emir, who last toured Islamabad in March 2015, was given a 21-gun salute. Prime Minister Khan drove the Emir to the Prime Minister’s House where the official welcome ceremony was held.

Earlier, Prime Minister Imran Khan said that the Emir will announce investment of worth USD 22 billion during his visit.

Khan said the Qatari investment was higher than USD 21 billion pledged by Saudi Crown Prince Mohammed bin Salman during his visit in February.

But so far, the worth of agreement signed between the sides was not known.

Khan visited Qatar in January to promote trade ties between the two nations.

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coastaldigest.com news network
May 12,2020

Riyadh, May 12: Saudi Arabia will impose a full-day lockdown and curfew across the Kingdom during the upcoming Eid holidays from May 23 until May 27, according to the Kingdom’s Interior Ministry.

Details are awaited

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News Network
March 6,2020

Riyadh, Mar 6: Saudi Arabia on Thursday emptied Islam's holiest site for sterilisation over fears of the new coronavirus, an unprecedented shutdown state media said will last while the year-round Umrah pilgrimage is suspended.

The kingdom halted the pilgrimage for its own citizens and residents on Wednesday, on top of restrictions announced last week on foreign pilgrims to stop the disease from spreading.

State television relayed images of an empty white-tiled area surrounding the Kaaba -- a large black cube structure inside Mecca's Grand Mosque -- which is usually packed with tens of thousands of pilgrims.

As a "precautionary measure", the area will remain closed as long as the umrah suspension lasts but prayers will be allowed inside the mosque, state-run Saudi Press Agency cited a mosque official as saying.

Additionally, the Grand Mosque and the Prophet's Mosque in the city of Medina will be closed an hour after the evening "Isha" prayer and will reopen an hour before the dawn "Fajr" prayer to allow cleaning and sterilisation, the official added.

A group of cleaners was seen scrubbing and mopping the tiles around the Kaaba, a structure draped in gold-embroidered gold cloth towards which Muslims around the world pray.

A Saudi official told news agency the decision to close the area was "unprecedented".

On Wednesday, Saudi Arabia suspended the umrah for its own citizens and residents over fears of the coronavirus spreading to Islam's holiest cities.

The move came after authorities last week suspended visas for the umrah and barred citizens from the six-nation Gulf Cooperation Council from entering Mecca and Medina.

Saudi Arabia on Thursday declared three new coronavirus cases, bringing the total number of reported infections to five.

The umrah, which refers to the Islamic pilgrimage to Mecca that can be undertaken at any time of year, attracts millions of Muslims from across the globe annually.

The decision to suspend the umrah mirrors a precautionary approach across the Gulf to cancel mass gatherings from concerts to sporting events.

It comes ahead of the holy fasting month of Ramadan starting in late April, which is a favoured period for pilgrimage.

It is unclear how the coronavirus will affect the hajj, due to start in late July.

Some 2.5 million faithful travelled to Saudi Arabia from across the world in 2019 to take part in the hajj, which is one of the five pillars of Islam as Muslim obligations are known.

The event is a massive logistical challenge for Saudi authorities, with colossal crowds cramming into relatively small holy sites, making attendees vulnerable to contagion.

Already reeling from slumping oil prices, the kingdom risks losing billions of dollars annually from religious tourism as it tightens access to the sites.

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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