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Nampak Zimbabwe invests $8.6m on plant, machinery

HARARE: Nampak Zimbabwe, formerly Hunyani Holdings Limited, has invested $8,6 million on plant and machinery to increase capacity and product range. The listed packaging group has reported a five percent decline in revenue to $95,9 million for the year to September 30, 2015 on the back of low aggregate demand. Nampak Zimbabwe is the local unit of South Africa’s packaging ... Read More »

Italy machinery makers urged to revise business model

ROME: Assocomaplast, Italy’s machine and molds manufacturers association, is urging the country to look beyond its successful export business. Assocomaplast Chairman Giorgio Colombo, who is in the last year of his five-year term in the role, said during Plast 2015 in Milan that solely exporting is “not sustainable” for the future of the Italian plastics market. Italy is a leading ... Read More »

FDI inflow into Pakistan enables govt to repay $1009.6 million loans

ISLAMABAD: The inflow of foreign direct investment (FDI) into Pakistan is on the rise and the country received $2640.9 million FDI last year. The increased amount of FDI enabled the government to pay $1009.6 million to the foreign countries during the fiscal year 2013-14. FDI is direct investment abroad where the investors have a complete control over their capital. There ... Read More »

Japan machinery orders tumble 6.4%, lowest in 5 months

TOKYO: Japan’s key gauge of capital spending fell for the first time in five months in October in a sign that business investment may be losing momentum. The government indicated that capital spending could be set to weaken as Japan struggles to recover from an April sales tax increase that pushed the economy into recession. Machinery orders dropped a larger ... Read More »

Tax collection target

The year book 2013-14 issued by the Federal Bureau of Revenue (FBR) shows four percent growth in development and tax collection, but recorded a shortfall of Rs 209 billion in its revenue target set for the specified year. The FBR had collected Rs 2,266 billion during the previous year against a target of Rs 2,475 billion, falling short of Rs ... Read More »

Customs seeks NFC’s explanation on machinery export

MULTAN: The Multan Customs Intelligence and Investigation has sought a reply via a notice from the National Fertiliser Corporation (NFC) for the clarification of machinery exported for repair last year. The National Fertilizer Corporation has sent machinery worth Rs 20 million abroad to get it repaired. According to Customs Intelligence and Investigation, the NFC has so far not paid customs duty ... Read More »

Sit-ins induced spiraling losses draw concerns

PESHAWAR: The trading community from across the province has expressed concern over the ongoing sit-ins by the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) in Islamabad, regretting that the prevailing political impasse has been affecting businesses and national economy adversely. Representative bodies of traders and businessmen from different cities including Peshawar, lamented that the marches had hindered economic progress ... Read More »