UAE finalizes financial package for Pakistan: sources

UAE finalizes financial package for Pakistan: sources

ISLAMABAD, JAN 05 - The United Arab Emirates (UAE) have finalized a financial package for Pakistan to extend help to the friendly country in its current account deficit woes, sources said.

The UAE package comprises of $3.2bn worth of oil supplies on deferred payment, besides a $3bn cash deposit, sources said.

The fiscal package of around $6.2 billion is expected to be announced by UAE Crown Prince Sheikh Mohammed bin Zayed Al Nahyan during his scheduled visit of Pakistan which will begin on January 6.

According to an official the UAE package will be under the same terms and conditions as given by the Kingdom of Saudi Arabia.

The package with the UAE was finalized this week, the official said.

The deferred payment facility for the Saudi and UAE oil will help Pakistan to save about $6.4 billion on oil and gas imports from the two countries.

According to reports, the government has also started backchannel talks with Qatar for relief in reduction in LNG prices, but the matter is in its initial phase.

Pakistan has already received $2bn in cash deposit from Saudi Arabia and the third installment of $1bn is due in the first week of February.

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Japanese martial arts exhibition on 7th

Japanese martial arts exhibition on 7th

ISLAMABAD, JAN 04 – The Japan Foundation and Embassy of Japan are holding an exhibition “The spirit of Budo” the history of Japanese martial arts at PNCA on January 7.

The exhibition will seek understanding of viewers about the brief history of Japanese martial arts from battlefield combat technique to popular sports or physical exercise.

The exhibition would consist of two parts. In first part reproduction/ originals of historical weapons such as bows and arrows, suits of armor, helmets are shown and development of martial arts from 8^th century to 19^th century is explained.

The second part deals with re-organization of bujutsu to budo in the 19^th and 20^th centuries and how the spirit of martial arts is still inherent in the life of the Japanese people.

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Hindu combined marriages ceremony on 6th

Hindu combined marriages ceremony on 6th

KARACHI, JAN 04 - Pakistan Hindu Council is organizing 11th annual combined marriages ceremony at Railway Ground Karachi on Sunday, 6th January.

 Patron-in-chief of Pakistan Hindu Council and Member of National Assembly Dr Ramesh Kumar Vankwani, in a press statement issued on Friday, told that this year 80 Hindu couples will enter the wedlock in a colorful cultural ceremony.

 He further said that many prominent dignitaries, belonging to different walks of life, are also invited to bless the couples.

According to Dr Ramesh, strong social bonds are developed among the participants on this occasion as they celebrate their big day in a joint gathering.

Pakistan Hindu Council, on the occasion, will also provide financial support to the newly-wed couples so that they can start their matrimonial life with honor and dignity.

Dr Ramesh Vankwani further said that such combined marriages ceremonies would also play pivotal role for projecting the positive image of Pakistan on international level.

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FM Qureshi takes up Afghan issue with Turkish counterpart

FM Qureshi takes up Afghan issue with Turkish counterpart

ISLAMABAD, JAN 04 - Foreign Minister Makhdoom Shah Mahmood Qureshi met Turkish Foreign Minister Mevlüt Çavuşoğlu in Ankara on Friday and discussed Afghan peace with him.

The Turkish Foreign Minister was among the first dignitaries who had visited Islamabad in September, soon after the PTI government took over.

 Foreign Minister Qureshi briefed Mr Çavuşoğlu about the recent developments concerning peace and reconciliation in Afghanistan.

He also informed his Turkish counterpart, in detail, about Pakistan's outreach efforts to most important neighbours and regional countries, in the recent weeks, including Afghanistan, Iran, China, Russia and Qatar.

The Foreign Minister added that desire to support and facilitate an inclusive, Afghan owned, Afghan led process had emerged as a notable convergence and shared desire among all, particularly Afghanistan’s neighbours, who had serious stakes in an amicable resolution of the 4 decades old conflict.

The Turkish Foreign Minister said that Pakistan and Turkey, as close partners, would continue their efforts to promote synergies on important issues.

The Foreign Minister appreciated Turkey's key role in strengthening the regional cooperation on Afghanistan through the Heart of Asia – Istanbul process.

Both sides expressed satisfaction on the trajectory of bilateral relations, symbolized by unprecedented traditional warmth and affection, at the peoples level.

This has guided the relationship towards a consistent, harmonious and coordinated approach on various regional and international issues.

Pakistan and Turkey, located at strategic locations, among important regions, faced similar challenges and had a lot to share and benefit from each other's experiences.

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Abu Dhabi crown prince to arrive in Pakistan on January 6

Abu Dhabi crown prince to arrive in Pakistan on January 6

ABU DHABI, JAN 04 - Crown Prince of Abu Dhabi Sheikh Muhammad bin Zayed Al Nahyan is scheduled to arrive in Islamabad on January 6.

Sheikh Mohammad, who is also Deputy Supreme Commander of the UAE Armed Forces, had accepted an invitation to visit the country extended by Prime Minister Imran Khan in a telephonic conversation last year.

the crown prince will be accompanied by a high-level delegation. He is expected to announce investments in Pakistan.

A UAE delegation was expected to come to Pakistan in October, 2018 but it was cancelled as PM Imran was scheduled to meet Qatar’s foreign minister.

In December, 2018, the United Arab Emirates (UAE) announced it will deposit $3 billion into Pakistan’s foreign currency account to help it successfully overcome international payment crisis and to avoid a stringent International Monetary Fund (IMF) deal.

“The UAE has announced its intention to deposit US$3 billion (equivalent to AED11 billion) in the State Bank of Pakistan (SBP) to support the financial and monetary policy of the Islamic Republic of Pakistan,” the Abu Dhabi Fund for Development (ADFD) said.

“The country’s support for Pakistan’s fiscal policy is based on the historical ties between the two people and the two friendly countries and the desire to further develop the bilateral cooperation in all fields.”

“The Abu Dhabi Fund for Development has financed eight development projects in Pakistan with a total value of AED1.5 billion, including AED931 million in grants. The funds covered projects in sectors such as energy, health, education and roads,” it added.

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AIOU wins top positions at flower show

AIOU wins top positions at flower show

ISLAMABAD, - Allama Iqbal Open University (AIOU) maintained its leading position in the recently held Federal capital’s flower shows, earning first prizes in four-categories.

The gardeners of the University were given special prizes at a ceremony held here in recognition of their outstanding work and for achieving the distinction.

While distributing the prizes among the winners, Vice Chancellor Prof. Dr.  Zia-Ul-Qayyum said that the University will put extra efforts for promoting the concept of green and clean Pakistan.

Gardeners will be awarded and facilitated for enhancing the beauty of the University’s environment, he added.

According to the Incharge University’s Horticulture Department Fozia Anjum, the University’s gardeners had displayed nearly 1000 different flowers’ varieties at the recently held ‘Ghule-dawoodi’ competitions and were praised high by the visitors.

The University has recently set up a botanical garden to promote greenhouse concept. Having a wide-range of plants, it augments beauty and research environment of the University.

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No-deal EU exit for Britain far more likely if parliament rejects May's deal

No-deal EU exit for Britain far more likely if parliament rejects May's deal

LONDON, JAN 03 - Britain is more likely to end up leaving the European Union without a deal if parliament rejects the agreement Prime Minister Theresa May has negotiated with Brussels, Brexit Minister Stephen Barclay said on Thursday.

With less than three months until Brexit lawmakers will make a pivotal decision later this month – accept May’s plans for a managed exit and relatively close economic ties, or reject the deal and spawn huge uncertainty about the country’s next steps.

“No deal will be far more likely if MPs reject the government’s Brexit deal later this month,” Barclay wrote, arguing that May’s plan was the only “workable deal” available.

May is seeking extra reassurances from Brussels to help persuade sceptical lawmakers within her own party, and the small Northern Irish party which props up her minority government, to back her plan.

 

The vote is due in the week beginning on January 14. Barclay, whose primary remit is to make sure Britain is ready in case a deal cannot be reached, said that next week the government would step up its campaign to make sure citizens are prepared for such an outcome.

“On Tuesday, we will start a new phase in our public information campaign, using radio and social media to further raise awareness about the need to prepare,” he wrote.

Sterling continued to fall against the US dollar, driven in part by growing concerns over the course of the Brexit process.

Earlier this week, the British government announced to spend more than 100 million pounds ($130 million) chartering extra sea ferries to ease cross-channel congestion if the UK fails to secure a trade deal before leaving the European Union in March.

Just three months before the UK is due to leave the world’s largest bloc, the risk of a no-deal Brexit is rising – the nightmare scenario for many businesses, which are now planning for an economic shock.

Extra ships will be needed to work new routes across the channel in the event that the main French terminal of Calais and Britain’s Dover and Folkestone are clogged up by customs checks.

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