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Sri Lanka, China port deal to attract FDI
COLOMBO: Sri Lanka’s largest business community, the Ceylon Chamber of Commerce (CCC), on Thursday expressed the appreciation for the steps taken to develop the Hambantota Port. In a statement, country’s largest chamber of commerce said the reported scale and size of the investment is expected to generate meaningful foreign direct investment (FDI) in port related activities, as well as businesses around the Hambantota port.
 
 
Zen’s Dhs2.5-million auto facility opens in Dubai
DUBAI: Zen Luxury Transport, a Dubai-based limousine company has opened a new state-of-the-art auto facility in Dubai. “We have invested Dhs2.5 million on the new auto workshop and are keen to raise the amount to around Dhs5 million for the upgradation by next year. This was stated by Sheikh Hisham Mehmood, Managing Director, Zen Luxury Transport, during an exclusive interview with The Gulf Today. He noted that his company’s
   
Pakistan’s service exports grow by 1.76% to $5.55 billion in 2016-17
ISLAMABAD: Pakistan’s service exports recorded a growth of 1.76 per cent year-on-year to $5.55 billion in 2016-17, the Pakistan Bureau of Statistics (PBS) said on Thursday. On a monthly basis, the exports of services recorded a growth of 5.4 per cent in June at $443.29 million as against $420.25 million in the corresponding month last year. In 2015-16, the service exports dropped by 7.14 per cent to $5.46 billion. The services
 
 
Infosys to consider proposal for share buyback
BENGALURU: The board of directors Infosys will consider a proposal for buyback of its equity shares of Rs5 face value, said the global software major on Thursday. “The board will consider a proposal for buyback of equity shares of the company at its meeting to be held on August 19,” said the company. The outcome of the board will be notified to the stock exchanges (BSE and NSE) on the same day. In view of the board meeting on
   
World Bank provides $3.8 million to save Pak forests
ISLAMABAD: The World Bank has provided funds amounting to $3.8 million to Pakistan under the REDD Plus programme to help protect forests and control their shrinkage. “We cannot protect the country from devastating impacts of global warming-induced climate change as long as our forests continue getting chopped down,” an official of the Ministry of Climate Change said on Thursday. “Forests are the best resource for achieving
 
 
Sensex and Nifty pare gains to close flat
MUMBAI: The key Indian equity indices on Thursday closed on a flat note — with marginal gains —on the back of healthy buying in IT, Teck (technology, media and entertainment) and metal stocks. However, market observers opined that negative European markets, coupled with profit booking in automobile and banking stocks, pared most of the gains of the key indices. The Nifty50 of the National Stock Exchange (NSE), which managed to
   
Saudi Aramco gets bids to expand Hawiyah gas plant
AL-KHOBAR: Saudi Aramco has received bids from international engineering firms to expand the Hawiyah gas plant, sources said. The companies that submitted their proposals were: South Korean Samsung Engineering, Spain’s Tecnicas Reunidas, Taiwan’s CTCI, Italy’s Saipem, Britain’s Petrofac, India’s Larsen & Toubro (L&T). South Korea’s Hyundai Engineering and Hyundai Development Engineering & Construction (HDEC) bid together as
 
 
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