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UAE PMI rebounds to four-month high

DUBAI: UAE Purchasing Manager’s Index (PMI) data for March signalled a second consecutive pick-up in the rate of improvement in the health of the UAE’s non-oil private sector. Business conditions improved at the strongest pace in four months, mainly driven by sharper rises in output and new orders. Total new work increased more quickly in spite of a renewed fall ... Read More »

UAE funding $840m renewable energy projects

ABU DHABI: The UAE has been financing over 30 renewable energy projects worth $840 million in 28 emerging countries under an ambitious funding programme launched six years ago, said the country’s environment minister at the opening of ‘Dubai WoodShow 2016′ on Monday (April 4). More than 250 companies from 42 countries are taking part in the show which targets traders, ... Read More »

Italian companies ready to explore economic potential in Pak

ROME: Italian Ambassador to Pakistan Stefano Pontecorvo said on Monday that more than 40 Italian companies had expressed their willingness to explore the opportunities of the Pakistani market. According to Punjab Board of Investment and Trade (PBIT) spokesperson, the Italian envoy disclosed this, while speaking at a seminar titled, Investment opportunities in Pakistan, in Rome, Italy. The ambassador said that it ... Read More »

Chinese chicken imports in Vietnam declared illegal

HANOI: The Veterinary Department has confirmed that all Chinese chickens imported into Vietnam are illegal and the authorities of Vietnam and China have not yet signed any agreement on the export and import of livestock and poultry products. An official from the Veterinary Department told Infonet said the transport of livestock and poultry products across the Vietnam-China border is still ... Read More »

President urges Saudi investors to explore Pakistan’s energy, agriculture sectors

ISLAMABAD: President Mamnoon Hussain on Tuesday urged upon the Saudi investors to invest in Pakistan’s energy, infrastructure and agriculture sectors. In a meeting with Saudi parliamentary delegation led by Dr Abdullah Bin Mohammed Bin Ibrahim Al-Sheikh, Chairman of the Shura Council here at the Aiwan-e-Sadr, the President said business friendly environment in the country had encouraged foreign investment. The president ... Read More »

Ground-breaking of Diamer-Bhasha Dam to be performed year-end

ISLAMABAD: The ground-breaking of Diamer-Bhasha Dam would be performed by end of the current calendar year. This was stated by Federal Minister for Planning, Development and Reforms Ahsan Iqbal addressing the participants of National Management Course (NMC). He said that water scarcity was a big issue for Pakistan and the government is striving to address the issue on priority basis. ... Read More »

New Zealand new vehicle sales raise 32-year high

WELLINGTON: New Zealand new vehicle sales in March rose to the highest level for the month in 32 years, led by record demand for commercial models. Registrations increased 3 per cent to 12,110 in March from a year earlier, marking the strongest March level since 1984, according to theMotor Industry Association. Commercial vehicle registrations rose 6.5 per cent to 3,919, ... Read More »

Consumer confidence dips on economy

CANBERRA: Disappointing economic news and concern about the federal budget are worrying consumers. The ANZ-Roy Morgan consumer confidence index fell 1.0 per cent in the week ending April 3, with levels now having edged lower for three consecutive weeks. While confidence levels remain above the long-range average, the slip of the index to 113.4 means the four-week moving average is ... Read More »

Chinese Communist Party leader inaugurates Gwadar Port Free Zone

GWADAR: Communist Party General Secretary Zhang Chunxian has inaugurated Gwadar Port Free Zone. Zhang Chunxian was leading a 61-member delegation from the Chinese province of Xinjian. Balochistan Governor Muhammad Khan Achakzai and other officials received the delegation. Speaking on the occasion, Achakzai said that there are immense opportunities for investment in Gwadar and China is interested in the investment in ... Read More »

Senate body to discuss budgetary allocation for FBR on 7th

ISLAMABAD: The Senate Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatisation will meet here on Thursday (April 7) to discuss head-wise budgetary allocation for Federal Board of Revenue (FBR) and its utilisation. According to press statement issued by the Senate Secretariat, the committee will also be briefed by Benazir Income Support Program (BISP) officials on its budgetary allocations ... Read More »

Punjab Saaf Pani Company holding road show in China

LAHORE: The Punjab Saaf Pani Company (PSPC) is holding a road show in China to invite foreign investments in clean water projects of the province. In this regard, a delegation of Punjab Saaf Pani Company (PSPC) has left for China under the supervision of Housing Urban Development (HUD) and Public Health Engineering Department (PHED) Minister Malik Tanveer Aslam. Other members ... Read More »

Turkey considers investment opportunities in Kazakhstan’s Pavlodar region

ASTANA: Investors from Turkey visited Kazakhstan’s Pavlodar region to find business partners and consider investment opportunities in the region, the Atameken National Chamber of Entrepreneurs of Kazakhstan reported on its website on April 4. “Our region is an industrial region, in which there are metallurgical, petrochemical industry and energy sector enterprises. The scope of agriculture, processing and food industry is ... Read More »

Brazil’s wind capacity reaches 8.3 GW in Feb 2016

BRASÍLIA: Brazil’s installed wind power generation capacity in February 2016 has increased by 50.1% compared to a year back, reaching 8,296 MW, according to a bulletin published by the government on Friday. The latest issue of the Monthly Monitoring Electric System Bulletin, also shows that Brazil’s total electric power generation installed capacity amounted to 142,179 MW at the end of February. ... Read More »

SECP, CFASP join hands to highlight investors’ right

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and CFA Society Pakistan (CFASP) Tuesday signed a memorandum of understanding (MOU) to jointly raise awareness of investors rights and establish standards of professional excellence in investment management in the country. The CFASP is a member society of CFA Institute, a global association of investment professionals in 145 countries. The MOU ... Read More »

Govt to overcome energy crisis by 2018: Jatoi

MULTAN: Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi has claimed that the prevailing energy crisis in the country would be overcome by 2018 due to the government’s commitment to resolve all power and gas issues. Talking to the media at airport and after laying foundation stone of a new block at NFC Institute here, he said that ... Read More »

Asif for conserving water, electricity, gas for national security

ISLAMABAD: Federal Minister for Water and Power Khawaja Muhammad Asif Tuesday underlined the need of conservation of water, electricity and gas for national security. Speaking at the prize distribution ceremony of 46th WAPDA Annual Inter Unit Sports competitions here, the minister said water security was a major component of the national security. He said enhancing water storage capacity in the ... Read More »

Agricultural Bank of China profits slightly up in 2015

BEIJING: Agricultural Bank of China, one of the country’s biggest lenders, reported a slight increase in profits as it tried to combat rising bad loans. Net profits increased 0.7 percent year on year to 180.78 billion yuan ($28 billion) in 2015 while total assets rose 11.4 percent to 17.79 trillion yuan, according to the company’s annual report. The bad loan ... Read More »

Transfar to invest $15b in road network

BEIJING: Chinese private conglomerate Transfar Group will invest 100 billion yuan ($15.44 billion) to set up a national road network by 2022 to improve the country’s logistics efficiency, its chairman told China Daily. “In five to six years, we will build a national road network covering 170 cities to serve corporate clients and ensure that goods and materials are transported ... Read More »

BP, CNPC ink shale gas agreement

BEIJING: British Petroleum Group (BP) and China National Petroleum Corporation (CNPC) signed a production sharing contract (PSC) for shale gas exploration, development and production in China last week. The contract is BP’s first shale gas PSC in China. It covers an area of about 1,500 square kilometers in the Neijiang-Dazu block in Sichuan Basin in the central western region of ... Read More »

British commercial vehicles exports rise 33% in 2015

LONDON: Exports of British-built commercial vehicles (CVs) jumped by more than a third last year, with almost nine in 10 destined for EU countries, according to the Society of Motor Manufacturers and Traders (SMMT). Britain exported 47,052  of the 94,479 CVs it made in 2015 – up 34.7% year on year, and accounting for half (49.8%) of overall production. Of ... Read More »