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Renault to assemble cars in Pakistan by 2018

BY JAVED IQBAL ISLAMABAD : Government on Thursday said that French automaker Renault is planning an investment in Pakistan. “As a result of the Finance Minister’s efforts and persuasion, Renault has decided to invest in Pakistan,” a statement from Prime Minister Nawaz Sharif’s office said. …

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Trade begins under CPEC : First convoy of 100 Chinese containers arrived at Sust dry port

GILGIT -UNS : A convoy of containers from China moving towards Gwadar as initial trade activities between China and Pakistan have started under the China-Pakistan Economic Corridor project (CPEC). The first convoy of 100 Chinese containers arrived at the Sust dry port in Hunza yesterday. …

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Kuwait plans to end subsidies by 2020

KUWAIT -UNS : The Gulf state of Kuwait, under financial stress due to low oil prices, plans to end all forms of public subsidies by 2020, a report published on Monday said. A committee set up by the finance ministry to review all public subsidies …

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PSQCA should accelerate its conformity assessment for consumer safety, protection

LAHORE -UNS- Federal Minister for Science & Technology Mr. Rana Tanveer Hussain has said that federal government will leave no stone unturned in promoting quality culture in the country. He said that PSQCA is the National Standardization body which is responsible for formulating and implementing …

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Shanghai Electric to buy $1.77 bln stake in K-Electric

KARACHI: China’s Shanghai Electric power company will buy a controlling stake in K-Electric, a power generation and distribution company in Pakistan’s largest city, for $1.77 billion, K-Electric’s parent company announced in a statement on Sunday. Dubai-based Abraaj Group said it had entered into a definitive …

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Twitter cuts nine per cent of workforce as revenue growth slows

NEW YORK, UNITED STATES -UNS : Twitter Inc reported a sharp slowdown in quarterly revenue growth on Thursday and said it would cut nine per cent of its global workforce. The microblogging service said its user base ticked up 3 per cent to 317 million …

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Pakistan ranking improves from 148 to 144: WB Report

NEW YORK -UNS : World Bank Group’s Doing Business Report 2017 has listed Pakistan among the top ten reformers in the world. The report said Pakistan’s performance has improved, indicating that the country is now more business-friendly for small and medium size enterprises. The country …

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Pakistan inks accord to supply 8 Mushshak aircraft to Qatar

ISLAMABAD -UNS : Pakistan on Saturday struck a deal with Qatar for the supply of eight Super Mushshak aircraft, Ministry of Defence Production said here in a press release. Pakistan has also recently formalized contracts with Nigeria and Turkey for the sale of 10 and …

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European Parliament head tries to save EU-Canada trade talks

PARIS-UNS- The European Parliament president has called for emergency meetings to try to save a free trade deal with Canada. Martin Schulz asked for separate talks with Canadian Trade Minister Chrystia Freeland and Paul Magnette, the head of Wallonia in Belgium, which has blocked a …

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Pakistan to supply 10 trainer aircraft to Nigeria

ISLAMABAD -UNS : Pakistan on Friday signed an agreement for sale of ten Super Mushshak Aircraft to Nigerian Air Force, Pakistan Air Forces (PAF) announced here. “The contract signing ceremony was held at Abuja (Nigeria), where Air Vice Marshal Iya Ahmed Abdullahi and Air Marshal …

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