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Viable solar technologies, investments to reduce energy crisis: Reon CEO

LAHORE: Pakistan is located in a region with ample sun energy that makes it suitable to utilize solar power technologies to overcome the energy crisis. The largest businesses today are effectively making use of solar energy to power their operations. Solar Energy can now be an affordable and practical contributor to our country’s energy needs. Reduced capital expense has made ... Read More »

Customs to set up body on WeBOC

KARACHI: The Customs Department has decided to establish a special committee to look into the matters of the WeBOC. Sources told Customs Today that decision in this regard has been taken to bring efficiency in performance of WeBOC system, because authorities are receiving complaints from a quite sometime about performance of the system. The committee will look all this matters and suggest ... Read More »

LABARD fulfills commitment to rehabilitate disabled persons

LAHORE: While fulfilling its promise of rehabilitation of the disabled persons, the Lahore Businessmen Association for Rehabilitation of Disabled (LABARD) has distributed cooking cart along with equipment, mobile phone repairing counter, equipment for beauty parlor, hair cutting salon, sewing machines etc among the disabled persons at an impressive ceremony which was chaired by the LCCI President Ijaz A. Mumtaz here ... Read More »

ICCI calls for construction of new dams to cope with floods, energy crisis‏

ISLAMABAD: Islamabad Chamber of Commerce and Industry has called upon the government to focus on the construction of more dams, especially in flood-prone areas that will help in coping with flash floods  and generating cheap energy. Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and Industry said that once again the devastating floods due to recent rains have highlighted the ... Read More »

PML (Q) fully support traders against withholding tax‏

LAHORE: Pakistan Muslim League (PML) senior central leader and former deputy prime minister Ch Parvez Elahi has said that his party stands with traders on their demand about withholding tax and will raise voice against this oppression on them both inside and outside the assembly. He said this while talking to a delegation of Liberty Small Traders Association, headed by ... Read More »

FCCI starts medical certificate facility for its members

FAISALABAD. Faisalabad Chamber of Commerce and Industry (FCCI) should continue its committed, dedicated, and professional research based efforts to facilitate its members by adding more and more facilities under its umbrella, said Mian Muhammad Adrees President Federation of Pakistan Chambers of Commerce and Industry (FPCCI). He was addressing a function after unveiling a plague for the inauguration of the facility ... Read More »

Faisalabad ASO seizes illegally imported black pepper

FAISALABAD: The Anti-Smuggling Organisation (ASO) has seized illegally imported black pepper having market value of Rs 2,114,700. Sources told Customs Today that Faisalabad Collector Tauseef Ahmed Qureshi received credible information regarding smuggling of foreign origin black pepper. Soon after receiving the tip, a raiding party was formed, which consisted of Superintendent Zahid Bukhari, Inspector Mehmood Ahmad and sepoys Muhammad Naeem, ... Read More »

Dar chairs meeting to review progress on talks regarding WHT

ISLAMABAD: Federal Finance Minister Mohammad Ishaq Dar here chaired a briefing session to review progress on talks with business community regarding withholding tax as well as on other tax related issues. It may be recalled that, as per directions of the Finance Minister to hold meaningful parleys with business community, three committees were constituted on 27th July 2015 which included ... Read More »

FBR extends tax returns’ filing date till 21st

ISLAMABAD: Federal Board of Revenue (FBR) has extended the date of submission of sales tax/federal excise duty return up to August 21, 2015 for the tax period July, 2015 for all registered persons. The extension has been granted under section 74 of the Sales Tax Act, 1990 and Section 43 of the Federal Excise Act, 2005. However, it is clarified ... Read More »

World’s biggest market: Robots sale in China up by 54.6% to 57,000 units

BEIJING: The world’s second largest economy has become biggest market of robots as China took this crown for the second consecutive year. According to Xinhua, the sales of robots in China increased by 54.6 percent in 2014 to around 57,000 units for 25 percent of world’s total. Data shows that nearly 17,000 units were made in China with a value ... Read More »

China to accelerate railway investment in H2

BEIJING: China has hastened efforts to build high speed rails as annual investment targets are still far from complete. On Monday, China’s northernmost high-speed railway started operation in Heilongjiang Province. The trip from Harbin City, the provincial capital, to Qiqihar City was reduced from three hours to 85 minutes. Last week, a railway linking Jinan City and Qingdao City in ... Read More »

China FTZ city starts cargo train service to Poland

SHANGHAI: Xiamen City in east China’s Fujian Province, located in the Fujian free trade zone (FTZ), opened a cargo train service to Poland here the other day. The direct cargo rail line, which goes through Kazakstan, Russia and Belarus before reaching Poland, is the first linking a Chinese FTZ to Central Asia and Europe, officials said. The service will depart ... Read More »

China ready to become world’s largest market for new energy vehicles

BEIJING: China is set to pass the US and become the world’s largest market for new energy vehicles this year as supporting measures from the government start to pay off, industry insiders observe. “The market for new energy vehicles is moving from demonstration to growth, and the Chinese market is likely to be the world’s largest this year,” said Dong ... Read More »

China transitions to slower but better growth: IMF

BEIJING: China is transitioning to a slower yet safer and more sustainable growth, which involves giving the market a more decisive role in the economy, the International Monetary Fund (IMF) said here the other day. The IMF expected the growth to slow to 6.8 percent this year, reflecting progress in addressing vulnerabilities, especially a needed moderation in real estate investment. ... Read More »

Russia, China trade likely to unaffected by worsening Russia economy

MOSCOW: Trade between Russia and China will not be affected by the worsening Russian economy, a Russian expert said Wednesday. Statistics from the official Rosstat agency showed on Tuesday that Russia’s gross domestic product shrank by 4.6 percent in the second quarter from a year earlier, marking a further drop compared with the 2.2 percent contraction in the first quarter. ... Read More »

Bangladesh, Bhutan customs decides to explore river routes

DHAKA: The Joint Group of Customs (JGC) of Bangladesh and Bhutan has recently decided to explore the possibility of using Chilmari-Roumari river routes by Bhutan. The joint working group of customs officials discussed the agenda at a meeting held in Thimphu, Bhutan on July 26-27. The proposal of using the river routes of Chilmari and Roumari was made by Bhutan ... Read More »

Saudi Arabia likely to earn $27b from 15b riyals bonds

RIYADH: After an eight-year interlude, Saudi Arabia’s government bond sales are coming alive. The desert kingdom that’s home to both the world’s second-biggest oil reserves and Islam’s holiest sites plans to auction as much as 20 billion Saudi riyals ($5.3 billion) as part of a programme to raise a maximum of 100 billion riyals by the end of the year, ... Read More »

Russia, Vietnam bilateral trade expect to hit $10b by 2020

MOSCOW: Russia-Vietnam bilateral trade is expected to hit $10 billion by 2020, Russia’s Ministry of Economic Development said in a statement on Friday. First Deputy Minister Alexey Likhachev held a meeting on trade, economic and investment cooperation with a delegation from the Economic Department of the Central Committee of the Communist Party of Vietnam, led by Deputy Head of the ... Read More »

Li Ning narrows losses to $4.60m in H1

SHANGHAI: Chinese sportswear maker Li Ning Co Ltd posted a narrower first-half loss as it resumed opening new sales outlets in lower-tier cities after years of restructuring, and said it aims to return to profit by the end of this year. The stock jumped more than 9 percent in early trade to HK$4.26, its highest since June 4 and outpacing ... Read More »

Lenovo to cut 3,200 jobs

BEIJING: Lenovo Group Ltd said here the other day that it will lay off 3,200 employees after it announced a 51-percent year-on-year decline in net income for its first fiscal quarter which ended in June. The cuts, which will mainly occur in the company’s newly acquired Motorola Mobility unit, represent roughly 10 percent of its global non-manufacturing headcount. Yang Yuanqing, ... Read More »