UBL to contribute in the development of Gwadar Port as part of the CPEC initiative

MG News | July 21, 2017 at 02:36 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

Sima Kamil, President & CEO UBL in discussion with Zhang Baozhong, Chairman of China Overseas Port Holding Company (COPHC), during the meeting, UBL resolved to support COPHC and its Chinese investors’ banking requirements in Pakistan.

Sima Kamil, President & CEO UBL on her recent trip to China, met with Zhang Baozhong, Chairman of China Overseas Port Holding Company (COPHC). COPHC has been awarded with a 40 years lease for the development of Gwadar Port and Gwadar Free Zone under the CPEC initiative. The objective of the company is to develop the region's most strategically located port into a transit trade hub connecting regional countries.

During the meeting, UBL, Pakistan's Best Bank 2016, resolved to support COPHC and its Chinese investors’ banking requirements in Pakistan, that are not limited to trade and finance, but also providing RMB accounts and settlement services. UBL also offered its support in uplifting the social status of the people of Gwadar by opening a Khushhali Bank branch here (UBL has majority shares of the bank). Khushhali Bank is one of the largest Micro Finance Banks in the country.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	170,511.86 278.75M	0.98% 1646.82
ALLSHR	103,203.80 682.99M	0.89% 908.76
KSE30	50,839.23 100.13M	1.18% 592.12
KMI30	243,245.60 147.66M	1.61% 3852.07
KMIALLSHR	66,892.15 407.33M	1.15% 757.54
BKTi	47,509.55 28.38M	0.77% 361.93
OGTi	34,789.19 8.38M	1.60% 547.02

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	77,290.00	77,640.00 76,425.00	-140.00 -0.18%
BRENT CRUDE	104.32	109.97 103.50	-3.31 -3.08%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	1.70 1.33%
ROTTERDAM COAL MONTHLY	140.00	0.00 0.00	-0.75 -0.53%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	99.99	0.00 0.00	-0.06 -0.06%
SUGAR #11 WORLD	18.15	18.84 17.93	-0.58 -3.10%