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Foreign investors assured of all facilities | The Express Tribune

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Foreign investors assured of all facilities | The Express Tribune



ISLAMABAD:

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has underscored full support and facilitation for foreign investors, including German firms, in expanding their footprint in Pakistan, while streamlining the repatriation of profits and dividends and addressing allied matters.

He hailed the government of Germany for its valuable technical and financial assistance to Pakistan and emphasised the significance of investment by German companies in diverse sectors of the economy.

German Ambassador Ina Lepel called on the federal minister for finance at the Finance Division on Monday, said a press release.

Welcoming the ambassador, the finance minister assured her of continued engagement to further deepen bilateral cooperation between the two countries. He provided an overview of Pakistan’s economy, highlighting the recent improvements in key indicators.

The finance minister spoke about the ongoing talks with an International Monetary Fund (IMF) review mission under the $7 billion Extended Fund Facility, and Pakistan’s progress on meeting quantitative and structural benchmarks under the programme.

The minister also apprised her of the devastation caused by recent floods and the broader challenges posed by climate change. According to reports, the deluge has damaged agricultural crops, destroyed livelihoods and displaced millions.

He outlined the government’s commitment to fostering an investment-friendly environment, noting that Prime Minister Shehbaz Sharif was clear and keen on letting the private sector lead the country’s growth.

Ambassador Lepel recalled her previous diplomatic assignment in Pakistan from 2013 to 2015 and shared fond memories of that period.

She discussed avenues for further promoting bilateral trade and investment and expressed support for the government’s efforts to achieve sustainable economic growth by encouraging private sector participation and foreign investment in a welcoming business environment.

Both sides reaffirmed their commitment to strengthening Pakistan-Germany economic cooperation and exploring new opportunities for trade, investment and development partnership.



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Airbus and Air India inaugurate pilot training centre in gurugram – The Times of India

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Airbus and Air India inaugurate pilot training centre in gurugram – The Times of India


MUMBAI: Airbus and Air India inaugurated a world-class pilot training centre in Gurugram, Haryana, said the airline in a press statement issued on Tuesday. “This benchmark facility will train more than 5,000 new pilots over the next decade to support the exponential growth of commercial aviation in India,” it said. The 50:50 joint venture facility was inaugurated by India’s minister of civil aviation, Rammohan Naidu Kinjarapu, in the presence of Air India CEO Campbell Wilson as well as Airbus Chief Executive Officer of Commercial Aircraft Christian Scherer. The new 12,000 sq mcentre will be equipped with 10 Full Flight Simulators (FFSs), along with modern classrooms and briefing rooms. The facility is designed to train pilots for the Airbus A320 and A350 aircraft families. The courses are approved by both the DGCA and EASA, ensuring India’s pilot training meets the highest global standards. “Air India is in an expansion mode with 570 new aircraft on order and the new pilot training centre at our Aviation Training Academy in Gurugram, a part of which is being executed with Airbus, will help train and upskill pilots who will fuel Air India’s ambition of becoming a world-class airline. This facility is a major step forward in our transformation journey and in making Air India and the Indian aviation industry more self-reliant. With our partners Airbus, we are playing our part in building the aviation infrastructure that India needs as one of the world’s fastest-growing aviation markets,” said Campbell Wilson, MD & CEO, Air India. “We are very proud to partner with Air India and the Tata Group on this critical infrastructure project. The inauguration of the training centre is a testament to our shared vision for the future of Indian aviation. This is more than a joint venture; it is a strategic investment in the future of the Indian aerospace industry itself. India is a critical base for Airbus, and this state-of-the-art facility is a testament to our belief in its immense potential,” said Jürgen Westermeier, President and Managing Director, Airbus India and South Asia. The Gurugram facility will complement the four A320 Family FFSs at the existing Airbus India Training Centre in New Delhi. Together, these two hubs will house a combined total of 14 FFSs, creating a powerful training network. In addition, Airbus is collaborating with local partners to provide world-class maintenance training, ensuring a robust pipeline of technicians and engineers to support the future fleet. The pilot training hubs underline Airbus’ deep commitment to nurturing a comprehensive aerospace ecosystem in India. From manufacturing and engineering to digital innovation and maintenance, Airbus is actively building the foundations of long-term capability. A critical component of this strategy is human capital development as a cornerstone of India’s aviation boom. Through targeted investments in skilling, training, and human capital, Airbus is helping to build the essential backbone of an aerospace industry that will not only serve India’s growth story but also keep it aligned with global standards. These efforts are complemented by partnerships with leading academic institutions, including the Indian Institutes of Technology (IITs) and the Gati Shakti Vishwavidyalaya, a unique transport and logistics university based in western India, to develop curricula, fund R&D, and create scholarships. These collaborations are designed to equip India’s young workforce with the competencies needed to power aerospace growth for decades to come.





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Ford CEO expects EV sales to be cut in half after end of tax credits

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Ford CEO expects EV sales to be cut in half after end of tax credits


Ford Motor Company CEO Jim Farley speaks at a Ford Pro Accelerate event on September 30, 2025 in Detroit, Michigan.

Bill Pugliano | Getty Images

DETROIT – Ford Motor CEO Jim Farley said he expects demand for all-electric vehicles to be slashed in half next month following the end of federal tax incentives on Wednesday.

Farley on Tuesday said he “wouldn’t be surprised” if sales of EVs fell from a market share of around 10% to 12% this month — which is expected to be a record — to 5% after the incentive program ends.

“I think it’s going to be a vibrant industry, but it’s going to be smaller, way smaller than we thought, especially with the policy change in the tailpipe emissions, plus the $7,500 consumer incentive going away,” he said during a Ford event about promoting skilled trades and workers in Detroit. “We’re going to find out in a month. I wouldn’t be surprised that the EV sales in the U.S. go down to 5%.”

Farley said the industry learned that “partial electrification,” such as hybrids, are easier for customers to accept for the time being.

Farley said his Model e EV team is analyzing the demand for non-gas-powered vehicles each day. The company currently offers a handful of all-electric vehicles, including the F-150 Lightning pickup, which can top $90,000, and Mustang Mach-E crossover in the U.S.

The federal EV incentives of up to $7,500 are coming to an end as part of the Trump administration’s “One Big Beautiful Bill Act,” which stripped the old enticement but included some perks for buying a U.S.-assembled vehicle, regardless of it being an EV.

“Customers are not interested in the $75,000 electric vehicle. They find them interesting. They’re fast, they’re efficient, you don’t go to the gas station, but they’re expensive,” Farley said. 

Once the bill was passed, sales of EVs quickly gained traction, especially as some automakers added even more discounts to move out older models.

Cox Automotive forecasts sales of EVs hit 410,000 during the third quarter, up 21% from a year earlier. That would easily be the highest amount of EVs ever sold in a quarter in the U.S., as well as a record 10% market share.

Cox and other industry analysts and executives expect many buyers pulled ahead plans to purchase an EV before the federal incentives sunset. 

Farley also said the federal changes mean the auto industry, including Ford, will have to adapt, saying the company will have to figure out what to do with its battery plants and EV capacity.

“We’ll fill them, but it will be more stress, because we had a four-year predictable policy,” Farley said. “Now the policy changed. … We all have to make adjustments, and it’s going to be good for the country, I believe, but it will be one more stress.”

Farley was speaking Tuesday at the automaker’s “Ford Pro Accelerate” event, which features executives from many industries as well as public officials discussing the “essential economy” and need for skilled labor and education.



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Worker left with severe burns following molten glass spill

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Worker left with severe burns following molten glass spill


A global bottle manufacturer has been fined £600,000 after a worker at its Alloa plant sustained severe burns from molten glass and hot water.

The accident took place at the O-I Glass facility in Alloa while the worker was operating a loading vehicle in February 2024.

The Health and Safety Executive (HSE) said the 32-year-old employee suffered 8 per cent burns to his body but went on to make a full recovery.

HSE said the “avoidable ordeal” need not have happened if a protective door had been fitted to the vehicle.

The site employs around 500 people and is used for smelting glass into bottles.

As part of this process, rejected molten glass is poured into skips in the basement along with hot water.

On the day of the accident, the worker was operating a shovel loader, clearing the waste molten glass and hot water from the basement floor.

The Health and Safety Executive (HSE) said the 32-year-old employee suffered 8 per cent burns to his body but went on to make a full recovery

However, there was no protective door on the cab of the vehicle, so some of the materiel spilled on the worker, who has not been named.

The company was fined £600,000 at Stirling Sheriff Court on 23 September, after admitting breaching health and safety legislation.

HSE inspector Kathy Gostick said: “This was an avoidable ordeal for a young worker. It is sheer luck he has been able to recover from his serious injuries.

“This company’s employees worked in this environment with a safety-critical part of the loader missing for a period of almost two years.

“Although the protective front door had been removed and reported to the on-site engineer, drivers had continued to work and operate the loader with it missing.

“Some operatives even described being struck or having footwear burnt by molten glass falling into the cab as a result.”

The company was fined £600,000 at Stirling Sheriff Court on 23 September, after admitting breaching health and safety legislation

The company was fined £600,000 at Stirling Sheriff Court on 23 September, after admitting breaching health and safety legislation (PA Archive)

She continued: “When work equipment is being selected, its suitability for the environment it is going to be used in must be risk assessed.

“In this case the protective door was not suitable to protect against impacts from hot and molten glass and therefore was often broken and in the end never replaced. Had an appropriate door been selected and maintained in place this accident would not have occurred.”

A spokesman for the company said: “O-I Glass Limited appeared at Stirling Sheriff Court in relation to a health and safety matter at its Alloa facility.

“The company accepted responsibility and co-operated fully and openly with the investigating authorities and the court. Legal proceedings have now concluded.

“O-I acted swiftly in implementing enhanced measures and is committed to maintaining the highest safety standards at all times across its operations.”



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