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Showing posts from March 23, 2019

Gwadar Port generates revenue of Rs358.151 million in three years

Shoaib Ur RehmanMarch 21, 2019 ISLAMABAD: Gwadar Port has generated Rs358.151million revenue during last three years of which Rs32.324 million were given to Gwadar Port Authority (GPA) as per its approved share. As per details revenue share, distribution ratio or percentage between port operator (China Overseas Ports Holding Company Ltd) and Gwadar Port Authority are 91per cent and 9 to 15 percent respectively. A data issued by Ministry of Maritime Affairs on Thursday revealed that the share of China Overseas Ports Holding in Gwadar International Terminal and Gwadar Marine Services is 91 percent while Gwadar Port Authority share is 9 percent. Gwadar Port Authority share in Gwadar Free Zone is 15 percent while rest of the 85 percent shares is held by China Overseas Ports Holding Company. The data further revealed that the port concession agreements all around the world determine revenue sharing between port authorities and port operations and same principle applies in Gwadar Port

Xi’s Europe visit

TRIVIUM CHINA Xi Jinping arrived in Rome last night. Xi wants the visit to usher in a “new era” for Sino-Italian relations (China Daily): “I hope to work with Italian leaders to map out the future of our relationship and move it into a new era.” The big news:  China and Italy are expected to sign a memorandum of understanding (MOU) on the Belt and Road Initiative (BRI). Why that’s a big deal:  Italy will become the first G7 country to sign up to Xi’s signature foreign policy project. And it comes over the objections of other EU countries and the US. The MOU is expected to preview Chinese investment in the four ports of Genoa, Palermo, Trieste, and Ravenna. Some context:  Increased Chinese investment in Italy is starting from a low base (FT): “Italy…only ranks 76th globally for Chinese capital invested in greenfield projects in the last 10 years.” “Even when including mergers and acquisitions and other forms of investment, Italy…lags behind peers in terms of Chinese investment.”

A salvo in the race for AI talent

Right now,  human talent is perhaps the most significant factor in the U.S.-China race for dominance in artificial intelligence — and who doubts that it has become a race? Score one for China, then. The Global Times  reports : Jiǎ Yángqīng 贾扬清, a research scientist and director of Facebook's AI Infrastructure, has officially joined Alibaba's Damo Academy, the AI research arm of the Chinese e-commerce giant, Alibaba said on Tuesday, confirming earlier media reports. Jia will serve as the vice president of engineering at Alibaba and lead research and development into big data computing platforms, according to Damo.