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Bangladesh to sign defense deal with S. Arabia

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DHAKA: Bangladesh will sign a defense deal with Saudi Arabia on 14th Feb. in an effort to enhance military cooperation between the two countries.
Bangladesh Army spokesman Lt. Col. Mohammed Rashidul Hasan Media today that under the deal, Bangladesh will work on defusing mines along the war-torn Saudi-Yemen borders.
Army chief Gen. Aziz Ahmed announced this during a visit to the newly-constructed Bangladesh Mission in Riyadh on Sunday, Hassan confirmed.
Bangladesh, one of the members of a Saudi-based 34-state Islamic military coalition to combat terrorism, has more than 2 million workers in Saudi Arabia.

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7 militants dead in clash in N. Afghanistan

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Clash kills 10 militants in N. Afghanistan

MAIMANA: Seven militants were killed and four others injured as clash erupted in Garziwan district of Afghanistan’s northern Faryab province on Saturday, an army spokesman in the northern region Mohammad Hanif Rezai said.

According to the official, the clash erupted early morning after the militants attacked some security checkpoints, and security forces retaliated forcing the militants to flee after leaving seven bodies behind, and four others injured. There were no casualties on security personnel, the official said.

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Asian Bourse: Falling Yen lets Tokyo stocks open higher

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Tokyo stocks gain on bargain-hunting

TOKYO: Stocks here opened slightly higher today, underpinned by a lower yen and gains in US shares on optimism over US-China trade talks.
The benchmark Nikkei 225 index, which closed at a two-month high on Wednesday, added 0.18 percent or 37.77 points to 21,182.25 in early trade. The broader Topix index was up 0.23 percent or 3.67 points at 1,593.00. “Japanese stocks will likely test their rebounding power (from lows around the turn of the year) thanks to continued gains in US shares and the yen’s drop,” Okasan Online Securities said in a note.
The market is “prone to profit-taking out of caution” after the Nikkei rose more than 800 points in the past two days, it added. Wall Street stocks rose for a second straight session Wednesday with investors betting that talks this week in Beijing between the top US and Chinese officials will help avert new US tariff actions scheduled for 1st March.
The greenback was changing hands at 110.93 yen early Thursday, up from 110.61 yen when the Tokyo market closed the previous day. A lower yen is positive for Japanese exporters as it makes their products more competitive outside Japan and also inflates profits when repatriated. Nintendo rose 0.25 percent to 30,070 yen and Honda climbed 1.43 percent to 3,044 yen. But Nissan was down 0.23 percent at 936.1 yen ahead of new Renault boss Jean-Dominique Senard’s meeting with officials from the Japanese automaker.
Former Nissan chief Carlos Ghosn on Wednesday shook up his legal team as he vowed to vigorously defend himself against financial misconduct charges. Investor reactions were muted to Japan’s growth data, released early Thursday, which fell within market expectations. It showed the world’s third-largest economy expanded 0.3 percent in the final quarter of 2018 after taking a hit from a series of natural disasters earlier in the year.

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Pak businessmen invited to Nepal Invest. Summit

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Pak businessmen invited to Nepal Invest. Summit

LAHORE: Ambassador of Nepal Sewa Lamsal Adhikari said on Wednesday that Nepal would hold Investment Summit in March to share its potential with the world and Pakistani businessmen must participate in it to explore untapped opportunities.

She was speaking here at the Lahore Chamber of Commerce & Industry, where LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir, Vice President Faheem-ur-Rehman Saigal, and Executive Committee Members were also present. The ambassador said that Nepal was a virgin land for investors and there were a lot of investment opportunities for Pakistani investors. She said that this was the right time for Pakistani businessmen to do business with Nepal.

She said that there was a huge potential for investment in the field of infrastructure, agriculture, sports, and specifically in the hydropower sector. Adhikari said that work on Free Trade Agreement between Nepal and Pakistan was well on the way, adding that lack of direct flight between the two countries and long route through India was coming in the way of two-way trade expansion. The ambassador said that 60 years of relations between Nepal and Pakistan were being completed on the 20th of March and Nepal had planned to celebrate this event. She said that Nepal highly values the relations with Pakistan.

In his welcome address, LCCI President Almas Hyder assured his full support for the promotion of cultural and trade relations of both sides. He invited Nepal to organize a cultural event, Nepal Food Festival or Nepal Nights in Lahore that would bring near the people of the two countries. He also invited a cultural delegation from Nepal to visit Pakistan. He said that there must be people to people interactions of both sides to come closure to each other. Almas Hyder said that SEFTA was a good channel of trade for both countries.

He said, “Unfortunately, we didn’t seriously focus to enhance the trade relations and investment in Nepal and China and India were getting fruits.” He said that the exchange of business delegations was the need of the hour. “It is needless to mention that a lot of efforts are required to be done to boost the low level of bilateral trade,” the LCCI President said and added that trade figures suggest that both countries desperately need to make efforts for developing people to people contact, tourism links, direct flights between Pakistan and Nepal for building mutual relations and supporting the bilateral trade. He said the Lahore Chamber of Commerce was ready to provide any service to the businessmen from Nepal.

 

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