Labourers at work on a construction site in Karachi, Pakistan. File/Reuters
Pakistan’s largest real estate portal, Zameen.com, successfully kicked off the third edition of its annual Pakistan Property Show (PPS) in Dubai on Friday.
The UAE’s property sector is in fine fettle and is marching ahead despite the COVID-19 challenges. The country’s real estate investors and developers have lauded the UAE government’s smart initiatives in fight against the virus.
Pakistan’s foreign direct investment (FDI) has improved by 88% in fiscal year 2020 to $2.56 billion with major investment coming in the power and telecommunication sectors from China and Norway respectively.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The Italian government has approved a new stimulus package worth 32 billion euros ($38.8 billion) to prop up the battered economy, pushing this year’s budget deficit significantly higher than previously planned.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.