Chinese Ruyi Group shows interest in Apparel Park
Govt striving for industrial development: Shahbaz
Salim AhmedLahore—Punjab Chief Minister Muhammad Shahbaz Sharif has said that government is striving for industrial development, solution of energy crisis and strengthening of economy and its efforts are yielding positive results. He said that the 32 billion dollars investment package announced by China would be implemented expeditiously and projects would be launched in infrastructure, energy, transport and other sectors.
Oil production touches 90,000 barrel per dayIslamabad—The Ministry of Petroleum and Natural Resources is effectively pursuing policies to explore indigenous hydrocarbon resources for mitigating energy crisis, jacking up the country’s oil production to 90,000 barrel per day.
“The government is giving high priority to develop indigenous hydrocarbon resources to minimize the demand and supply gap with implementing investment friendly policies, catalyzing efforts to augment oil and gas production,” says an official source. The source said as many as 73 wells had been spuded and 18 discoveries were made since the current government was formed.
ICAP all set to hold CFO conferenceKarachi—The Institute of Chartered Accountants of Pakistan (ICAP), Sunday, finalized all arrangements for one-day CFO conference themed as “From Conformance to Leadership-Evolving Role of CFOs” to be held on Tuesday, 11 and Thursday, 13 March 2014 in Karachi and Lahore.
Chinese company offers KP to invest in power projects
Staff ReporterPeshawar—Chinese investment company Sino-Tia-Cheng Group has offered investment in hydro power schemes in Khyber Pakhtunkhwa specially in power houses projects of Shozhosin (132MW) and Sharmai (120MW) in Chitral. A delegation of the company led by its Chief Executive Mr. Liuyonggyang called on RafaqatUllah Babar, Advisor to Chief Minister on Economic Affairs and Incharge of Investment Promotion Cell, at his office in Peshawar and discussed with him various matters of foreign investment and rules and regulation affairs.
Fitch upgrade boosts Saudi sharesRiyadh—Saudi Arabia’s bourse rose to a 68-month high in heavy trade on Sunday after Fitch upgraded the country, while other regional share markets were narrowly mixed because of a lack of catalysts. Dubai’s trading volume fell to its lowest level since last August.
Credit rating agency Fitch raised Saudi Arabia’s long-term foreign and local currency issuer default ratings to ‘AA’ from ‘AA-’, citing strong balance sheets and government efforts to combat unemployment and a housing shortage, as well as the country’s labour market reforms.
UAE, Oman, Iraq represent 60pc of regions’ upstream oil transactionsAbu Dhabi—The combined number of oil and gas transactions in the UAE, Oman, and Iraq represented almost 60 per cent of the total number of upstream transactions in the Middle East during 2013, according to Ernst & Young’s Global Oil & Gas Transactions report.
Overall, the number of transactions in the region fell by 40 per cent from 44 in 2012 to 26 in 2013, whereas the overall transaction value increased from $2.7 billion (Dh9.93 billion) in 2012 to $3.1 billion in 2013.
PAAPAM for incentives to boost auto parts exportsLahore—Pakistan Association of Automotive Parts and Accessories Manufactures (PAAPAM) former chairman, Syed Nabeel Hashmi on Sunday urged the government to look after auto motive industry which could enhance export upto annual dollars 5 billion.
Talking to a group of reporters here on Sunday, he said exports of Pakistani auto parts had great potential as these could grab international markets.
PO 25th Anniversary