BEIJING: A number of chemical companies specialized in manufacturing world-class paint for buildings, furniture and automobile have shown keen business and investment interest through the partnership with local industrialists in Pakistan.
“We are an international chemicals supplier and our company intends to explore business and investment opportunities in Pakistan which have become an important investment destination for the Chinese businessmen and entrepreneurs after the launch of China-Pakistan Economic Corridor (CPEC),” Li Xing Xinong, founder of Hunan Banfert New Materials Technology said. He was addressing at Forum of CPEC Chemical Paint Technology Communication Center held at Hunan Chemical Vocational Technology College. Hunan Banfert is an international chemical materials supplier, such as ultraviolet curable coatings, quick setting inks, waterborne industrial paints, industrial anti-corrosion coatings and special resins.
Li established his company in 2007 in the north of Hunan province of China after finishing his study from Hunan Chemical Vocational Technology College said first he would visit Pakistan to assess the market potential and then decide to set up a plant in Pakistan. He said presently his company was exporting its high-quality products to the USA and some European countries. Expressing confidence into the current economic situation in Pakistan, he said Pakistan’s economy was now gearing up and there were more business and investment opportunities for the Chinese companies.
Ming Xiancheng, General Manager, Xiangjiang Paint Technology Company, speaking on the occasion, also showed interest in the investment-friendly policies and incentives announced by the present government to attract foreign investment in Pakistan. He informed that he was eager to visit Pakistan to interact local businessmen to explore trade and business opportunities in Pakistan.
Wheaton, Project Manager, St. Fulin Group CPEC CCC expressed his complete confidence into the security situation in Pakistan and asked his countrymen to tap the potential of rising Pakistani market. He said Pakistan had entered the industrialization phase of the CPEC framework and special economic zones were being set up to facilitate the Chinese industrialists and investors. He informed the participants of the forum that the Chinese industrialists could also export their products to other countries from Pakistan.
Envoys briefed about Pulwama attack
ISLAMABAD: Envoys from African & Shanghai Cooperation Organisation (SCO) member states have been briefed on Pakistan’s position apropos Pulwama attack here today.
Talking to the Envoys, Foreign Secretary Tehmina Janjua commented on New Delhi’s accusation and termed it a knee-jerk’ reaction: “deliberate anti-Pakistan frenzy is being spurred in India”, she said.
Dr. Faisal held: “Baseless Indian allegations and aggressive rhetoric are counterproductive and a threat to regional peace”.
Foreign Office Spokesman took to the twitter to maintain: “Pakistan desires normalization of resolutions with Indian Prime Minister Imran Khan and after his inauguration. Pakistan will take two steps if India takes one for normalization of ties. India canceled the agreed meeting between two FMs on UNGA sidelines on baseless pretexts…India owes an explanation on reports of Adil Ahmed Dar’s arrest and custody since 2019. India needs to introspect and respond to questions about its security and intelligence lapses that led to this attack…”
7 militants dead in clash 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.
Asian Bourse: Falling Yen lets Tokyo stocks open higher
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.