Friday, 22 February 2019

Business

German drone market to grow to 3b euros by 2030

BERLIN: The German drone market is expected to grow from 574 million euros (649.28 million US dollars) to 3 billion euros by 2030, which corresponds to an annual average growth rate of 14 percent, according to a report by the German Unmanned Aviation Association (VUL) published on Monday. VUL will ...

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PepsiCo plans to invest $1b in Pakistan

DUBAI: The PepsiCo is planning to invest $1 billion in Pakistan, the company’s Vice President Krista Pilot said. Pilot met Information Minister Fawad Chaudhry in Dubai. She told the minister that her company intends to invest $1 billion in Pakistan’s food sector. She said that the PepsiCo will invest in ...

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Bill Gates says China major contributor to global progress

NEW YORK: Bill Gates, co-chair of the Bill and Melinda Gates Foundation, Tuesday said that exciting progress against poverty and disease around the world has been made in 2018, and China has been a major contributor to this progress. In a video speech exclusively broadcast via Xinhua, Gates said over ...

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British Airways stops selling its shares to outside EU citizens

LONDON: The parent company of British Airways and Iberia has stopped the sales of its stock to investors outside of the European Union. EU-ownership rules dictate that more than half of an airline’s stock must be held by shareholders that are based within the economic bloc. International Consolidated Airlines Group ...

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British Sikhs to invest millions in Pakistan

LONDON/ISLAMABAD: Pakistan’s leading business group and British Sikh Association has signed a Memorandum of Understanding (MoU) to make a commitment of working together in the development of the infrastructure for the Kartarpur Corridor and other sites of religious importance in Pakistan for Sikh pilgrims. Signed between British Sikh Association and ...

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French group wins $35.5 billion defence deal from Australia

ANKARA: Australia and France signed a strategic partnership agreement for joint construction of Australian navy’s new fleet of submarines, according to The Sydney Morning Herald. The production of the 12 Attack-class submarines by French shipbuilder Naval Group will cost Australia A$50b ($35.5b). The bids were announced in 2016. Construction on ...

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Romania’s trade deficit widens to 15.1bn euros

BUCHAREST: Romania’s trade deficit widened by just under a fifth on the year in 2018, to 15.1 billion euros ($17.10 billion), the National Statistics Board said on Monday. December’s shortfall stood at 1.71 billion euros. The statistics board said January-December CIF (cost/insurance/freight) imports were 82.9 billion euros, up 9.6 percent ...

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Qatar Petroleum, Exxon Mobil to build $10 bn LNG plant in Texas

TEXAS: Qatar Petroleum and Exxon Mobil announced Tuesday a final decision to build a natural gas export facility in Texas, giving the official green light to a long-discussed project. According to the statement, $10 billion worth The Golden Pass project in Sabine Pass is scheduled to begin construction in the ...

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How Venezuela turns its useless bank notes into gold

EL CALLAO: Venezuela’s most successful financial operations in recent years have not taken place on Wall Street, but in primitive gold-mining camps in the nation’s southern reaches. With the country’s economy in meltdown, an estimated 300,000 fortune hunters have descended on this mineral-rich jungle area to earn a living pulling ...

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Christine Lagarde: IMF ready to support Pakistan

NEW YORK: Prime Minister of Pakistan Imran Khan on Sunday met International Monetary Fund (IMF) chief Christine Lagarde in Dubai on the sidelines of the World Government Summit. During the meeting, matters pertaining to bilateral interests came under discussion. The meeting comes at a time when Pakistan is seeking its ...

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