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Qatar plans $3B investment in Pakistan as PM Sharif visits Doha

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The latest boost came in talks between Qatar’s emir Sheikh Tamim bin Hamad Al Thani and Pakistan’s Prime Minister Shahbaz Sharif in Doha, as Islamabad tries to shore up its finances in a bid to avoid a default.

The Qatar Investment Authority aims to invest $3 billion in Pakistan, Qatar’s Emiri Diwan has said, lending support to the South Asian nation’s cash-strapped economy.

“The Qatar Investment Authority announced its aspiration to invest $3 billion in various commercial and investment sectors in the Islamic Republic of Pakistan,” the Emiri Diwan said on Wednesday, without giving details.

The announcement was made during a visit to Doha by Pakistan Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad al-Thani on Wednesday after a meeting with the QIA on Tuesday.

“His Highness stressed the importance of the brotherly and strategic relations between the two countries and their aspiration to enhance economic partnership by raising trade exchange and promoting investments through the Qatar Investment Authority,” Emiri Diwan said.

Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8 billion, barely enough for more than a month of imports.

READ MORE: What does it mean for Pakistan to be removed from the FATF ‘grey’ list?

Pakistan PM visits Qatar

The prime minister’s visit to Qatar precedes an International Monetary Fund meeting next week that is expected to approve more than $1 billion in financing that has been stalled since the beginning of the year.

Sharif on Tuesday invited QIA, Qatar’s $450 billion sovereign wealth fund, to invest in Pakistan’s energy and aviation sectors.

He had previously said he would highlight sectors including renewable energy, food security, industrial and infrastructure development, tourism and hospitality.

Sources close to Sharif have said he was expected to offer Qatar shares in state-owned enterprises including the loss-making Pakistan International Airlines and the Roosevelt Hotel in New York.

READ MORE: Are Western banks blocking debt relief for poor countries?

Source: TRT

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Russia says NATO preparing for potential conflict in Eastern Europe, Black Sea

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NATO’s activities in Eastern Europe and the Black Sea region are focused on preparing its allies for a potential confrontation with Russia, said the Russian Foreign Ministry on Thursday, citing militarization activities in the region.

The Romanian authorities have previously announced their readiness to invest 2.5 billion euros ($2.7 billion) into modernizing the Mihail Kogalniceanu air base in Constanta County. The base is set to expand into a military town capable of accommodating the families of 10,000 military personnel, with plans to create urban infrastructure, said the ministry.

Construction has begun in the southern part of the future military town, where access roads and a robust power grid are currently being built. The modernization of the air base could make it the largest North Atlantic Treaty Organization (NATO) base in Europe by 2040. The U.S. military has been using this base since 1999, it said.

“The expansion of the Romanian air base is yet another proof that the North Atlantic bloc continues its unrestrained militarization of Eastern Europe and the Black Sea region,” said the Russian Foreign Ministry.

The ministry added that “the forced enhancement of coalition capabilities is also taking place in Poland and the Baltics.”

“Such activity by NATO members is provocative, exacerbates military tension along our borders and creates additional security threats to Russia. All this is aimed at preparing the bloc’s allies for a potential collision with our country,” the ministry said.

“We will monitor the developments in Romania, assess the emerging risks and take them into account during military planning,” the ministry added.

Source(s): CGTN

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Usable reserve will exceed USD 100 million by the end of this month: MMA

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Immigration Controller Mohamed Shamman, on Thursday, revealed over 900 undocumented immigrants have been deported as part of efforts to decrease the number of foreigners living in the Maldives unlawfully.

Speaking at a joint press conference held by Local Governance Ministry, Home Ministry, Maldives Immigration and Department of National Registration on Thursday – Shamman said two to three major operations are conducted every week to identify undocumented immigrants.

“We are removing them based on the capacity available at the detention centre. After their removal – the deportation of such individuals from the Maldives is proceeding at a fast pace,” he said.

Speaking further, Shamman underscored that there is a large number of foreigners involved in black market sale of US dollars in the Maldives – which he detailed is carried out near ATMs and through Viber groups.

Seven foreigners unlawfully selling US dollars in the black market were detained on March 15th in an operation carried out by Immigration’s Risk Intelligence and Legal Affairs and Enforcement and Compliance Division.

Shamman noted that some of these detainees have been deported already. Underscoring that some of the detainees lacked the necessary documentation – he said the documents have been requested from the embassy.

“As soon as the documents are received, they will be deported,” he added.

Source(s): sun.mv

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Over 900 undocumented immigrants deported: Immigration Controller

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Immigration Controller Mohamed Shamman, on Thursday, revealed over 900 undocumented immigrants have been deported as part of efforts to decrease the number of foreigners living in the Maldives unlawfully.

Speaking at a joint press conference held by Local Governance Ministry, Home Ministry, Maldives Immigration and Department of National Registration on Thursday – Shamman said two to three major operations are conducted every week to identify undocumented immigrants.

“We are removing them based on the capacity available at the detention centre. After their removal – the deportation of such individuals from the Maldives is proceeding at a fast pace,” he said.

Speaking further, Shamman underscored that there is a large number of foreigners involved in black market sale of US dollars in the Maldives – which he detailed is carried out near ATMs and through Viber groups.

Seven foreigners unlawfully selling US dollars in the black market were detained on March 15th in an operation carried out by Immigration’s Risk Intelligence and Legal Affairs and Enforcement and Compliance Division.

Shamman noted that some of these detainees have been deported already. Underscoring that some of the detainees lacked the necessary documentation – he said the documents have been requested from the embassy.

“As soon as the documents are received, they will be deported,” he added.

Source(s): sun.mv

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