logo
Azerbaijan to invest $2 billion in economic sector of Pakistan

Azerbaijan to invest $2 billion in economic sector of Pakistan

Gulf Todaya day ago
Pakistan and Azerbaijan on Friday signed a partnership agreement of US$2 billion investment in Pakistan, reflecting the continuing flow of investment in Pakistan, Associated Press of Pakistan (APP) reported.
In the presence of Pakistani Prime Minister Muhammad Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov signed the agreement for investment of a total of US$2 billion by Azerbaijan in the economic sector of Pakistan.
The agreement was signed between the two countries after a cordial meeting between the Prime Minister and the Azerbaijani President Ilham Aliyev in Khankandi.
The agreement has taken investment and trade relations between the two countries to a historic level, according to APP. The agreement will prove to be a milestone for further promotion of brotherly relations between the two countries and for strengthening of trade partnership.
Both countries also agreed on further exchanges to promote cooperation in various sectors.
WAM
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Israel sends delegation to Qatar for Gaza talks ahead of Netanyahu trip to US
Israel sends delegation to Qatar for Gaza talks ahead of Netanyahu trip to US

Dubai Eye

time3 hours ago

  • Dubai Eye

Israel sends delegation to Qatar for Gaza talks ahead of Netanyahu trip to US

An Israeli delegation left for Qatar on Sunday for talks on a possible Gaza hostage and ceasefire deal, an Israeli official said, hours before Prime Minister Benjamin Netanyahu was due to head to Washington to meet US President Donald Trump. Public pressure is mounting on Netanyahu to secure a permanent ceasefire and end the war in Gaza, a move opposed by some hardline members of his right-wing coalition. Others, including Foreign Minister Gideon Saar, have expressed support. Hamas said on Friday it had responded to a US-backed Gaza ceasefire proposal in a "positive spirit", a few days after Trump said Israel had agreed "to the necessary conditions to finalise" a 60-day truce. But in a sign of the potential challenges still facing the two sides, a Palestinian official from a group allied with Hamas said concerns remained over humanitarian aid, passage through the Rafah crossing in southern Israel to Egypt and clarity over a timetable for Israeli troop withdrawals. Netanyahu's office also said in a statement that changes sought by Hamas to the ceasefire proposal were "not acceptable to Israel". However, his office said the delegation would still fly to Qatar to "continue efforts to secure the return of our hostages based on the Qatari proposal that Israel agreed to". Netanyahu, who is due to meet Trump on Monday, has repeatedly said Hamas must be disarmed, a demand the group has so far refused to discuss. HOSTAGES On Saturday evening, crowds gathered at a public square in Tel Aviv near the defence ministry headquarters to call for a ceasefire deal and the return of around 50 hostages still held in Gaza. The demonstrators waved Israeli flags, chanted and carried posters with photos of the hostages. Some family members of those held in Gaza who had joined the protests said they were concerned that the deal might not return all the hostages immediately. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered on October 7, 2023, when Hamas attacked southern Israel, killing around 1,200 people and taking 251 hostages, according to Israeli tallies. Gaza's health ministry says Israel's retaliatory military assault on the enclave has killed over 57,000 Palestinians. It has also caused a hunger crisis, displaced the population, mostly within Gaza, and left the territory in ruins. Around 20 of the remaining hostages are believed to be still alive. A majority of the original hostages have been freed through diplomatic negotiations, though the Israeli military has also recovered some.

Vessel reportedly attacked in Red Sea two months after US-Houthi truce
Vessel reportedly attacked in Red Sea two months after US-Houthi truce

The National

time7 hours ago

  • The National

Vessel reportedly attacked in Red Sea two months after US-Houthi truce

A vessel came under attack in the Red Sea on Sunday by several small boats that opened fire on it, the UK Maritime Trade Operations (UKMTO) reported. The incident marks a rare assault in the strategic waters near Yemen, coming two months after the US announced a truce with the country's Houthi rebels aimed at halting attacks on shipping in the region. 'UKMTO has received a report of an incident 51NM south-west of Hodeidah, Yemen,' the UKMTO said. 'The vessel has been engaged by multiple small vessels who have opened fire with small arms and self-propelled grenades. Armed Security Team have returned fire and situation is ongoing,' it added. 'Authorities are investigating. Vessels are advised to transit with caution and report any suspicious activity to UKMTO.' No group has claimed responsibility for Sunday's attack, and the type of vessel targeted remains unclear. The incident comes two months after US President Donald Trump announced on May 6 that the Iran-backed Houthi rebels had 'capitulated', prompting Washington to halt strikes after the group agreed to stop attacking ships in the Red Sea. However, the Houthis pledged last month to resume operations in the region after the US attacked their main backer, Iran. Yemeni security sources told The National in June that the rebels were considering renewed strikes on US targets around the Middle East and increasing attacks on Israel in support of Tehran. On Sunday, the Houthis launched a missile towards Israel, which the Israeli army said it intercepted and destroyed. The Houthis, along with Hezbollah in Lebanon, began launching drone and missile attacks on Israel after the start of the Gaza war in October 2023.

Crypto exchanges eye Dubai, HK as Singapore clampdown prompts exodus
Crypto exchanges eye Dubai, HK as Singapore clampdown prompts exodus

Gulf Today

time7 hours ago

  • Gulf Today

Crypto exchanges eye Dubai, HK as Singapore clampdown prompts exodus

Major digital-asset exchanges are considering moves to Dubai and Hong Kong after Singapore introduced stringent new rules on overseas crypto activity, according to an executive based in the UAE's International Free Zone Authority (IFZA). Last month the Monetary Authority of Singapore ordered any crypto-services provider incorporated in the city-state and serving foreign clients to obtain a Digital-Token Service Provider licence by June 30, 2025 or cease those activities. Non-compliance could incur fines of up to SGD 250,000 (Dhs 734,500) and three years' imprisonment, with no grace period or 'small-player' exemption. 'This is effectively a moratorium on fresh licences, hence the migration -- or crypto exodus,' said Vikram R Singh, founder and chief executive of blockchain consultancy Antier, which recently expanded its operations in IFZA Dubai. While Singapore 'tightens the screws', Singh noted that the UAE has spent three years building a dedicated rule-book for digital assets. Consultancy Sumsub estimates the country attracted US$30 billion in crypto investment during 2024, a regional record. Individual investors in the UAE pay no income or capital-gains tax on crypto profits, and companies in free zones can often reduce the new 9% federal corporate tax to near zero if most business is conducted outside the Emirates. Regulation is flexible too. Federal bodies supervise mainland activity, but free-zone regulators in Dubai, the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) run their own crypto frameworks, allowing founders to 'pick the regulator that fits the business model', Singh added. Dubai's credentials were underscored in April when TOKEN2049 drew about 15,000 delegates from 4,000 companies -- the world's largest crypto gathering. Local capital is also flowing: Emirates NBD's Liv digital bank and Abu Dhabi's MGX fund are backing plans for a 30-storey 'Crypto Tower' in the Dubai Multi Commodities Centre. The Dubai Financial Services Authority has recently issued guidance on tokenised securities and real-world assets, paving the way for wider institutional adoption. Antier says it is already working with UAE partners to build tokenised-asset marketplaces aligned with the emirate's digital-asset strategy. 'Dubai's proactive stance perfectly matches our real-world-asset tokenisation and digital-asset trading infrastructure,' Singh said. 'As tokenisation reshapes global finance, we intend to provide the bridge between traditional markets and Web3.' With Singapore's stricter rules now in force, observers expect licence-seeking crypto firms to relocate to Dubai, reinforcing the emirate's ambition to become a leading global hub for digital assets.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store