Business

Angola bounces back after slump in fuel production

Monitoring Desk LUANDA: Angola is bouncing back after its fuel production slumped last year to a decade low as President Joao Lourenco steers reforms vital to the country’s economy and wins approval from oil majors. “It is a new era. I see a growing interest from investors,” says Guido Brusco, vice-president for sub-Saharan Africa of…

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PTI govt to create 10mn jobs in its five-year term: Khusro Bakhtiar

F.P. Report ISLAMABAD: Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtiar on Sunday reiterated that Pakistan Tehreek-e-Insaf (PTI) led government would create 10 million jobs in its five-year tenure. Talking to journalists, Bakhtiar said that their government was striving hard to transform Pakistan into a developed and prosperous country. Comparing the performance of…

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China’s ‘Li and Fung’to invest in Pakistan

F.P. Report LAHORE: Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman MianKashifAshfaq Friday said Li and Fung, one of the biggest Chinese buying company expressed its willingness and evinced keen interest for business collaboration and investment in multiple sectors of Pakistan including FIEDMC to strengthen and promote bilateral relations on sound footings. FIEDMC Chairman…

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‘Yemen shines in flourmarket with rising demand’

Monitoring Desk ANKARA: Rising demand for imported flour in Yemen is taking up a growing share of Turkish exports, the head of a prominent flour trade group told Anadolu Agency. Turkey’s flour exports to Yemen this January to May totaled 250,000 tons, fully 18% of its total flour exports, said GunhanUlusoy, chairman of the International…

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Apple recalls older 15-inch MacBook Pros over fire risk

Monitoring Desk ANKARA: US technology giant Apple has announced a voluntary recall of a limited number of older-generation 15-inch MacBook Pro units which contain a battery that may overheat and pose a safety risk. “The units were sold primarily between September 2015 and February 2017 and can be identified by their product serial number,” the…

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Global gas consumption to grow 1.6% per year

Monitoring Desk ANKARA: Global natural gas consumption is expected to grow at an average rate of 1.6% per year until 2024, reaching over 4.3 trillion cubic meters (tcm), compared to 3.9 tcm in 2018, according to the International Energy Agency’s (IEA) latest “Gas 2019” report. The IEA said that the Asia-Pacific region will account for…

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Vegetable exports increase 12pc to $2748m: SBP

F.P. Report ISLAMABAD: The vegetable products export from the country grew by 12.19 percent during the first 10 months of the current fiscal year compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported. The vegetable products exports from the country during July-April (2018-19) were recorded at $2748.773 million against the…

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HBFC signs MoU with Namal Institute Mianwali

F.P. Report KARACHI: MoU signing ceremony was recently held between House Building Finance Company (HBFC) & M/S Namal Institute Mianwali (NIM). The MoU was signed by Mr. Faisal Murad, Group Head – Business & Operations on behalf of HBFC & Mr. Adnan Zahid, Director – M/S Namal Institute. Through this corporate arrangement, HBFC will facilitate…

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Petroleum prices likely to up by Rs5-7

F.P. Report ISLAMABAD: Petroleum prices are expected to increase by Rs5-7, in Pakistan, on Friday. Local private news channel reported that the increase in oil prices is expected as the rate of American crude oil has increased by $2. The price of the American crude oil has surged by $56.65 per barrel, and the rate…

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Pakistan’s exports to USA increase 3.69 per cent

F.P. Report ISLAMABAD: Pakistan’s exports of goods and services to United State of America grew by 3.69 percent during the first 10 months of the current fiscal year compared to the corresponding period of last year, State Bank of Pakistan reported. The overall exports of goods and services to USA were recorded at $4714.475 million…

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