KARACHI: Pakistan International Airlines (PIA) is set to issue a 10-year sukuk, worth up to Rs20 billion this month to meet its working capital requirements, an investment banker engaged in the deal told The News. The national carrier has mandated National Bank of Pakistan, BankIslami Pakistan Limited and BIPL Securities, to act as joint book runners for the issue. BankIslami is also acting as advisor and investment agent for the sukuk issuance. The issue will be privately placed and backed by government guarantee, and will also be classified as ‘public sector sukuk’. The ministry of finance has given statutory liquidity…
Author: holidayweekly
DUBAI: Deep Dive Dubai, which holds the Guinness record for being the world’s deepest swimming pool for diving, has opened for business. Located in Nad Al Sheba 1, Deep Dive Dubai pool has a 60 m depth and can hold 14 million liters of water, equivalent to the quantity of six Olympic-sized swimming pools. Among the key features of the 60m pool are two underwater habitats with a dry chamber at six and 21 m, 56 underwater cameras covering all angles of the pool, as well as advanced sound and mood lighting systems. The pool’s water is filtered and circulated…
ISLAMABAD: Hashoo School of Hospitality Management (HSHM) has collaborated with Bluesky Students Consultancy Services to promote its premium hospitality school in Pakistan. In this connection, a Memorandum of Understanding (MoU) was signed by Maj (Retd) Faisal Naeem Khan, Director Education, Hashoo School of Hospitality Management, and Mr. Mumtaz Khan, Country Head Bluesky Students Consultancy Services in PC Hotel, Lahore. HSHM is Pakistan’s first premier hospitality and tourism management school in collaboration with Sheffield Hallam University, UK, and in partnership with Construction Technology Training Institute (CTTI). HSHM’s first campus is located on IJP Road Islamabad and is now accepting admissions for…
MADRID: The global vaccination rollout and increased adoption of digital solutions for safe travel should lead to a rise in international mobility over the weeks and months ahead, the latest data from the World Tourism Organization (UNWTO) indicates. According to the newest edition of the Travel Restrictions Report from the United Nations specialized agency for tourism, as of 1 June, 29% of all destinations worldwide have their borders completely closed to international tourism. Of these, more than half have been completely closed to tourists since May 2020 or longer, with the majority of these belonging to the Small Island Development…
RIYADH: Saudi Arabia’s General Authority of Civil Aviation (GACA) said it has reached an agreement with International Air Transport Association (IATA) to set up the aviation body’s headquarters for the Middle East and Africa (MEA) region in the kingdom. Following the deal, GACA said the signing of this agreement not only aligns with Saudi Arabia’s interest in supporting and promoting the role of regional and international civil aviation organizations but also contributes to the kingdom’s distinguished efforts to empower Saudi organizations through providing various forms of support to assist in their role of contributing to the development of the field…
MUSCAT: Oman has announced a complete lockdown on commercial activities and ban on movement of individuals and vehicles as well as prayers, pre-Eid souqs (habta) and gatherings throughout the three days of Eid Al Adha. The evening closure of commercial activities and the ban on movement of individuals and vehicles will continue to take effect from 5 pm everyday till 4 am the next day, starting from July 16 to 31, except on the three days of Eid Al Adha during which the lockdown will be throughout the day, reported Oman News Agency (ONA). The Governorate of Musandam is exempted…
KARACHI: Director General of Pakistan Civil Aviation Authority (CAA) Khaqan Murtaza has said that ease of doing business and reduced cost of doing business has been ensured in the National Aviation Policy which was likely to open up a lot of business opportunities, promote tourism through improved regional connectivity and prove favorable for the economy. “We are open to all types of suggestions and criticisms so that we could further improve the services being offered by Civil Aviation Authority”, he said, adding that CAA was working really hard to improve and further develop the infrastructure at airports including new helipads,…
LONDON: The World Travel & Tourism Council (WTTC) welcomed the latest announcement from the UK government about ending most Covid-19 restrictions on 19 July. It will give a much-needed boost to travel businesses across the country but it called for a clear pathway to allow as-yet unvaccinated people to travel safely and affordably. “After more than a year of lockdowns and severe restrictions, this is great news, and we welcome the Prime Minister’s commitment to allow those who are double-jabbed to avoid quarantine after returning from an amber list country,” Virginia Messina, WTTC Senior Vice President said. “However, we hope…
RIYADH: Saudi Arabia has suspended entry from Ethiopia, the UAE, Vietnam, and Afghanistan, except for non-citizens who stayed 14 days outside those four countries, as well as all the previously announced countries, a report said. An official source of the kingdom’s Interior Ministry announced the following decisions in light of the ongoing outbreak of Coronavirus pandemic (Covid-19) and the spread of a new mutated strain of the virus, reported Bahrain News Agency (BNA), citing a Saudi Press Agency (SPA) report. • Banning citizens from traveling directly or indirectly, without obtaining prior permission from the concerned authorities to Ethiopia, the UAE,…
MANSEHRA: Prime Minister Imran Khan has said tourism offers excellent potential for boosting the country’s revenue and employment opportunities and it is his vision to keep Pakistan clean and green to attract tourists from across the world to this heavenly land. “Switzerland is half the size of our northern areas and has no match with the natural beauty of our landscape, yet it earns $80 billion from tourism whereas our total export is of $25 billion,” the prime minister said while addressing a gathering of Tiger Force volunteers in Naran, the commercial hub of Kaghan valley. During the trip to…