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Toyota, Sony, other Japanese firms halt production after quakes

Toyota, Sony, other Japanese firms halt production after quakes

Toyota Motor Corp., Honda Motor Co., Sony and other firms were suspended operations Friday after a powerful earthquake struck Kyushu, damaging factories and supply chains. Two earthquakes hit southern Japan on 14 April and 16 April, killing at least 41 people. The first quake hit the Kyushu Island on 14 April leaving 1,000 people injured and 11 still missing. This ... Read More »

Pakistan’s Private Sector to benefit from $100 Million US investments

US Ambassador David Hale announced that the U.S. government, in partnership with the Abraaj Group, Indus Basin Holding, and JS Private Equity Management, has made available over $100 million to invest in Pakistan’s private sector

American Ambassador announces availability of over $100 Million for Pakistan’s Private Sector ISLAMABAD – U.S. government, in partnership with the Abraaj Group, Indus Basin Holding, and JS Private Equity Management, has made available over $100 million to invest in Pakistan’s private sector, through the Pakistan Private Investment Initiative, American Ambassador David Hale announced on Thursday. “Our hope is that, by improving access to ... Read More »

Amsterdam named 2016 European capital of innovation

Amsterdam named 2016 European capital of innovation

Amsterdam was recognized for its good start-up climate and its sharing economy, as well as the way city officials approach innovation issues. Amsterdam has been chosen as European capital of innovation in the annual iCapital competition organised by the European Commission. Dutch News reported on Friday that the city won the E.C.’s annual iCapital competition, whose prize is €950,000 ($1.082 ... Read More »

EXIM Bank offers long-term financing opportunities in Pakistan

EXIM Bank offers long-term financing opportunities in Pakistan

The Export-Import Bank of the United States is here to compete for Pakistani business, and is ready to partner with Pakistan to reach its development goals, EXIM Chairman Hochberg said ISLAMABAD – Export-Import Bank of the United States (EXIM) will now offer long-term financing in Pakistan for public sector projects, Chairman and President of the Bank, Fred P. Hochberg announced. “The Export-Import Bank of ... Read More »

Careem acquires local ride-hailing company Savaree

Careem acquires local ride-hailing company Savaree

Savaree will operate as a legal entity of Careem: Careem’s CEO Junaid Iqbal LAHORE (Pakistan) – Dubai-based Careem, hailed as the ride-sharing app of the Middle East, made another move to expand its influence Wednesday by acquiring Pakistani carpooling startup Savaree. The move seems to be an immediate response to Uber’s move into the south Asian country. Savaree was founded by Madeeha ... Read More »

Dubai announces 35 dirham airport fee on passengers

Collected fees will be transferred to Dubai Airports and subsequently to the Dubai Government public treasury: Officials DUBAI (United Arab Emirates) – Passengers departing from Dubai will pay a 35-dirham ($9.50) service fee for flights leaving after June 30 that have been booked since March 1, according to a statement from Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. As per the ... Read More »

European tourism industry hit hard by Brussels terror attacks

European tourism industry hit hard by Brussels terror attacks. Photo: Charles Platiau/Reuters

Brussels terror attack has altered perceptions of the continent’s safety. The impact of the Brussels terror onslaught was immediate. Within days, occupancy rates at some hotels in the city plunged to just 25%, according to preliminary estimates from STR, a company that tracks hotel industry data. The rate had been 82% the night before the bombings. Other European cities felt ... Read More »

Pakistan and Iran agree to enhance trade volume to $5 billion

Pakistani PM Nawaz Sharif addressing the Pakistan-Iran Joint Business Forum in Islamabad on March 26, 2016.

Pakistan and Iran have plan to take annual trade to $5 billion under the five-year Strategic Trade Cooperation Plan ISLAMABAD – Pakistan and Iran have set an ambitious target of taking annual trade to $5 billion in next five years. The current volume of bilateral trade is mere $250 million. Board of Investment (BOI) Chairman Miftah Ismail said that construction ... Read More »

Pakistan and Iran vow to boost trade, defence ties

Pakistani PM Nawaz Sharif and Iranian President Hassan Rouhani in one-on-one meeting at PM House in Islamabad on March 25, 2016.

Pakistan and Iran sign 6 MoUs during the visit of first Iranian head of state to neighbouring Pakistan in the last 14 years. Pakistani Prime Minister Nawaz Sharif and Iranian President Hassan Rouhani have vowed to boost cooperation on regional security and trade during talks in Islamabad, the first visit by an Iranian head of state in 14 years. Pakistan and ... Read More »

Pakistanis detained at Moscow airport likely to be deported soon

Russia has deported 48 Pakistanis yesterday. Other stranded Pakistani traders are likely to be deported today MOSCOW (Russia) – Around 84 Pakistanis traders, being held at Moscow airport since early Thursday morning, are likely to be deported by evening, Pakistan Foreign Office has stated. “The Foreign Office is in touch with the Russian embassy in Islamabad on the matter,” said FO ... Read More »

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