Briefs

 

‘Traders must take advantage of CPEC’

By our correspondent

LAHORE: Businessmen of ports, shipping and logistics sectors should start planning to reap maximum benefits from China-Pakistan Economic Corridor (CPEC).

It was observed by the speakers at an international conference recently organised by the Small and Medium Enterprises Development Authority (Smeda) on "CPEC opportunities for local businesses”.

Mir Hasil Khan Bizenjo, Federal Minister for Ports and Shipping, was the chief guest. A large number of local and international delegates attended the conference.

The conference provided a platform for development organisations, donors, experts, government departments and business community to interact and share their knowledge on how to reap maximum benefits from this multibillion-dollar undertaking. It also provided a valuable opportunity for developing networking with important national and international stakeholders.

 

TDAP organises seminar

News Desk

SUKKUR: The Trade Development Authority of Pakistan’s (TDAP) sub-regional office Sukkur in collaboration with the State Bank of Pakistan Sukkur office organised a seminar regarding ”Export potential of fisheries from Sukkur region” on November 24 at the SBP-BSC Sukkur office, a statement said.

The main purpose of the seminar is to highlight the export potential of fisheries sector of Sukkur region and enhance the exports from this region.

Sukkur region is the main hub for supply of freshwater fish for domestic consumption in Pakistan. The seminar was attended by the fish traders of Sukkur, Agriculture Extension Department Sukkur, Livestock & Fisheries Department Sukkur, Sukkur Chamber of Commerce and Industry, Larkana Chamber of Commerce and Industry and other stakeholders.

 

State Bank appreciated

News Desk

KARACHI: The Union of Small and Medium Enterprises (Unisame) has welcomed and appreciated the State Bank of Pakistan (SBP) for planning to organise the expo / seminar for promotion of SME financing on December 19 aimed at creating awareness among the SMEs and other stakeholders about banks and DFIs financing facilities, a statement said on Friday.

Zulfikar Thaver, president of Unisame, and chairman of the Working Group Capacity Building (WGCB) of the Technical Committee of the National Financial Inclusion Strategy (NFIS), said the seminar will certainly give an opportunity to various institutions to inform and enlighten the sector about the facilities available for the SMEs and to what extent the banks and DFIs are available and the access to finance, which can be enjoyed by the entrepreneurs.

It will also be an opportunity for the SMEs to connect with the SME promotion and development institutions and the commercial banks and put forward their expectations and requirements,he added. Several SMEs are not aware of various facilities available and it is very important that they are informed about the facilities, which they can avail of Thaver added.

 

National Finance Olympiad 2016 held

News Desk

KARACHI: The qualifying round of the National Finance Olympiad 2016 was held simultaneously at ICAP offices in Karachi and Lahore, in which 36 teams from prestigious organisations of the country participated, a statement said.

It was an intensive three-hour MCQ-based exam developed by the technical partners A F Ferguson and Ernst and Young, it added. The computer-based testing (CBT) along with providing enhanced exam security allowed quick scoring and the results were announced in the ceremony after a couple of hours.

The top six teams that won the qualifying round were Central Depository Company of Pakistan Limited, Gadoon Textile Mills, Grant Thornton Anjum Rahman Chartered Accountants, Kot Addu Power Company, Haleeb Foods Limited and KPMG Taseer Hadi & Company. The winners have moved into the Grand Finale, which will be held on November 28 in Karachi.

 

Alitalia may cut up to 2,000 jobs

ABU DHABI/MILAN: Alitalia could cut up to 2,000 jobs as controlling shareholder Etihad Airways pushes for sweeping changes to turn the loss-making airline around, according to sources close to the matter.

The Italian carrier may also ground at least 20 planes to cut certain unprofitable routes on domestic and regional services where it is struggling to compete with low-cost rivals and high-speed trains, the sources told Reuters.

It is likely to remain loss-making for the next two to three years even if it carries out the job cuts of around a sixth of its workforce and the plane groundings, said one of the sources.  But a failure to slow the airline´s decline and ultimately reverse its fortunes would not only see Abu Dhabi state-owned Etihad take further financial hits on its investment, but deal a significant setback to its European expansion ambitions.

It would also represent a defeat for the Italian government, which regards Alitalia as a strategic asset and a matter of national pride, denting its industrial strategy aimed at attracting foreign investment. Yet Rome is in a tough position, as news of possible job cuts at Italy´s flag carrier come at a sensitive time - days from a Dec. 4 referendum on constitutional reforms that Prime Minister Matteo Renzi has staked his political future on.