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Khaleej Times
29 minutes ago
- Khaleej Times
Ferry service from Pakistan to UAE? Sea travel expected to offer affordable options
Travellers from Pakistan will soon have a new mode of transport to connect with the UAE and other Gulf nations, as the country prepares to launch its first-ever international ferry service. On Tuesday, Pakistan's Ministry of Maritime Affairs announced that it had granted an in-principle licence for ferry operations — marking a historic milestone for the country's maritime sector. 'A high-level committee comprising representatives from the Ministry of Maritime Affairs, Ministry of Defence, Ministry of Foreign Affairs, Ministry of Interior, Pakistan National Shipping Corporation, and the Directorate General Ports & Shipping has approved, in principle, Pakistan's first ferry service licence,' the ministry said in a post on X. The initiative is set to open 'a new chapter in maritime travel, tourism, and regional connectivity,' the ministry added. In July, Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry chaired a meeting to discuss the strategic scope of launching ferry routes from Gwadar to the Gulf region. At present, all commercial travel between Pakistan and the Gulf countries — including the UAE — is conducted by air through carriers such as Emirates, Etihad Airways, flydubai, Air Arabia, PIA, Airblue, Serene Air, and Air Sial. Official Launch of Pakistanâ��s Ferry Service License! Under the leadership of Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, Pakistan has officially issued its first ferry service licenseâ��marking a new chapter in maritime travel, tourism, and regional connectivity. — Ministry of Maritime Affairs, Govt of Pakistan (@MaritimeGovPK) August 4, 2025 The ferry service is expected to offer a more affordable travel option for South Asian nationals visiting the UAE, GCC countries, Iran, and beyond. Its launch also aligns with the region's upcoming unified tourist visa — a Schengen-style initiative that will significantly ease travel across Gulf countries. This will particularly benefit Pakistani tourists using the ferry to explore multiple destinations. The ferry is also set to serve religious pilgrims, offering a cost-effective way to travel from Pakistan to Saudi Arabia for Umrah and Hajj. Additionally, Chaudhry highlighted that between 700,000 and 1 million Pakistani nationals travel annually to Iran and Iraq to visit religious sites. 'If even 20 per cent choose ferries in the first three years, that would translate to 140,000 to 200,000 passengers per year, representing significant economic potential,' he stated. In its initial phase, the ferry service will operate between Karachi and Gwadar. Beyond passenger travel, the initiative is also expected to strengthen maritime trade ties between Pakistan and the UAE. Prime Minister Shehbaz Sharif has recently invited Emirati companies to invest in Pakistan's maritime infrastructure. On Tuesday, AD Ports Group inaugurated its first representative office in Islamabad — marking a major milestone in its global expansion and a deepening commitment to trade and logistics across South and Central Asia. Strategically located near Pakistan's key ministries and state-owned enterprises, the office will serve as a hub for collaboration on infrastructure and trade initiatives. While the Ministry of Maritime Affairs has not officially named the company operating the ferry service, local media reports suggest the licence was awarded to UK-based firm 'Sea Ferry.'
Zawya
an hour ago
- Zawya
Deloitte Middle East introduces ME Tax Pulse as next-generation mobile app
Mubasher: Deloitte Middle East has launched ME Tax Pulse to be a next-generation mobile application designed to deliver timely, relevant, and region-specific tax insights to professionals across the region, according to a press release. The app aims to bring together real-time regulatory updates, expert commentary, and curated content across a wide spectrum of tax domains such as business tax, indirect tax, international tax, transfer pricing, M&A, and global workforce services. Tax and Legal Leader at Deloitte Middle East, Muhammad Bahemia, said: 'ME Tax Pulse puts practical, high-value content directly in the hands of professionals.' Bahemia elaborated: 'Whether it is monitoring developments, exploring technical guidance, or preparing for regulatory changes, the app supports smarter, faster access to the information professionals rely on every day.' The lead concluded: 'With ME Tax Pulse, Deloitte continues to invest in intuitive, technology-enabled tools that strengthen client connectivity and equip professionals to respond confidently to the region's evolving tax landscape.' A core feature of the app is its built-in AI Assistant, which helps users navigate Deloitte's extensive Middle East tax and legal content with greater ease and speed. It allows users to interact with Deloitte's published materials and surface the most relevant insights quickly and the assistant enhances decision support while maintaining the highest standards of professional integrity. ME Tax Pulse is tailored for professionals in the UAE, Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, and Egypt, and is available free of charge on both the Apple App Store and Google Play.
Zawya
an hour ago
- Zawya
Ithmaar Holding witnesses lower profits in H1-25; accumulated losses exceed $827m
Mubasher: The net profits of Ithmaar Holding, listed on the Bahrain Bourse as well, dropped to $12.87 million in the first half (H1) of 2025 from $18.48 million in H1-24. The total income declined to $359.09 million in H1-25 from $475.79 million in H1-24, according to the financial results. Basic and diluted earnings per share (EPS) reached $0.05 in the first six months (6M) of 2025, versus $0.12 as of 30 June 2024. Results for Q2 In the second quarter (Q2) of 2025, the dual-listed company's net profits stood at $5.46 million, an annual surge from $2.56 million. Total income shrank to $177.12 million in Q2-25 from $238.31 million in Q2-24. The company posted accumulated losses valued at $827.07 million as of 30 June 2025, representing 109% of the company's capital. In Q1-25, Ithmaar saw lower net profits at $7.41 million, compared to $15.92 million in Q1-24.
