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Tokyo Stocks: Investors cash in profits!

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Tokyo stocks gain on bargain-hunting

TOKYO: Stocks fell today as investors cash in profits following three straight days of gains. The benchmark Nikkei 225 index lost 0.21 percent, or 47.84 points, to close at 22,818.02 while the broader Topix index edged down 0.04 percent, or 0.77 points, to 1,805.15.

“Profit-taking can easily emerge following days of sizeable gains,” said Hikaru Sato, senior technical analyst at Daiwa Securities. “Buying sentiment was also capped by a wait-and-see mood ahead of (economic growth) figures” Wednesday, Sato told AFP.

Some analysts have warned the world’s number three economy may have shrunk for the first time in nine quarters in January-March. Tokyo shares opened higher with sentiment supported by gains on Wall Street following signs of easing trade tensions between China and the United States.

Sunday tweet from Donald Trump that US and Chinese officials were working to get Chinese telecom equipment maker ZTE “back into business, fast”, helped soothe some investors’ nerves.

Investors will be keeping a close eye on US-China trade discussions, with President Xi Jinping’s top economics official, Vice Premier Liu He, visiting Washington.

 

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Two LNG vessels arrive at Port Qasim: Ali Haider Zaidi

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ISLAMABAD: Federal Minister for Maritime Affairs Ali Haider Zaidi Saturday said two LNG vessels arrived at Karachi Port Qasim.

The minister appreciated Port Qasim Authority team for outstanding performance.

He said, “for the first time, we’ve been able to berth two LNG vessels in one tide”, said a news release.

The minister said Port Qasim Authority was also about to start night navigation in a couple of weeks.

“Once that starts, port chocking issue will be addressed,” he stated.

 

 

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Pak-China hold unanimity on CPEC: Qureshi

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CPEC's scope to be expanded

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Friday said that Pakistan and China had complete unanimity on China Pakistan Economic Corridor (CPEC) projects.
If anyone had speculation over this gigantic project of CPEC, that element should oust it such thinking from the mind. The foreign minister said we will touch the new heights in strengthening ties with China.  To a question about relations with Russia, Qureshi said there is a great space in improving the relationship with Russia. Russia could help Pakistan in many sectors, he added.  Pakistan had made unprecedented sacrifices in the war against terrorism, he said.  About trade-related relations with Qatar, he said Prime Minister Imran Khan would have a discussion during his upcoming visit to enhance business relations with that Muslim state.  Expressing the hope, Shah Mehmood Qureshi said that Pakistanis would avail the opportunity of one hundred thousands jobs in Qatar in near future.  Expatriates Pakistanis are the good source for sending their remittances to the native country, he added.

 

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Cargill to grow Pakistan business with US$200 million investment

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ISLAMABAD: Cargill , a global food and agriculture producer, on Thursday renewed its long standing commitment to Pakistan by announcing plans to invest more than US$200 million in the next three-to-five years.

The announcement was made soon after Cargill’s global executive team, led by Marcel Smits, head of Global Strategy and Chairman, Cargill Asia Pacific region, and Gert-Jan van den Akker, president, Cargill Agricultural Supply Chain, called on Prime Minister Imran Khan and other senior government officials to discuss the company’s future investment plans, a press release issued by the PM Office said.

Being a global food and agriculture producer with a strong focus on Asia, Cargill aims to partner on Pakistan’s growth by bringing its global expertise and investment into the country.

The company’s strategy includes expansion across its agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses while ensuring safety and food traceability.

Cargill will bring world class innovations to support the flourishing dairy industry in Pakistan, which is already moving toward modernization, as well as the rising demand for edible oils backed by evolving consumption patterns and a growing market for animal feed driven by sustained progress made by the poultry industry in Pakistan.

Cargill’s proposed investments will support Pakistan’s overall economic development and contribute to local employment.

The visiting delegation informed the Prime Minister that M/s Cargill intended to invest in Pakistan as back as 2012 but were discouraged by mismanagement, corruption and non-availability of level playing field during the previous governments.

However, investor’s confidence has restored after the incumbent Government and the policies being pursued by it.

The Prime Minister welcomed investment plans of M/s Cargil in the area of agriculture development, import substitution and enhancement of agricultural products.

He highlighted the efforts of the Government towards ensuring transparency, providing the business community with level playing field and improving ease of doing business in the country.

The Prime Minister assured the delegation full support of the government.

 

 

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