Newswire Lisbon: Foreigners’ interest in obtaining a Portugal Schengen visa continues to remain high despite the summer season coming to an end soon. According to data from Google Trends, searches worldwide for a Portugal Schengen visa are currently up 90 per cent. Even though not everyone who searches for a Portugal visa applies for the […]
Read MoreCelina Ali Islamabad: The US government has cleared the potential sale of six General Atomics Aeronautical Systems (GA-ASI) MQ-9 Block 5 Reaper unmanned air vehicles to Italy. The possible package is valued a $738 million, says the US Defense Security Cooperation Agency (DSCA). Included in the package are three ground control stations, sensors, communications equipment, […]
Read MoreLiu Yang and Chi Jingyi Beining: China this week initiated dispute settlement proceedings against the EU’s provisional anti-subsidy measures against Chinese electric vehicles (EVs) at the WTO to safeguard the interests of its EV industry’s development and global green transition cooperation, China’s Ministry of Commerce (MOFCOM) said. Experts said that the move suggests that China […]
Read MoreCelina Ali Islamabad: In a major upcoming economic development for Pakistan, Denmark’s Maersk Shipping Line will invest $2 billion over the next two years in the infrastructure of ports, terminals, dredging, transshipment, and road construction. This announcement was made this week by the Federal Minister for Naval Affairs Qaiser Ahmed Sheikh while briefing journalists in […]
Read MoreTokyo: Japan’s state debt swelled to a record 1,311.04 trillion yen ($9 trillion) as of the end of June, topping the 1,300 trillion yen mark for the first time ever, government data showed this week, underscoring its dire fiscal health. The debt increased by 13.88 trillion yen from three months earlier, as Japan has had […]
Read MoreParis: France remained Europe’s top physical net power exporter in the first half of the year at 40.8 TWh – a 31% jump from the second half of 2023, a Montel Analytics report showed this week. The surge was due to increased nuclear output, a surplus of hydropower generation and persistently low demand, despite French […]
Read MoreMia Shah – Gwadar Pro Beijing: Pakistan and China are forging joint ventures expected to propel Pakistan’s leather industry to new heights. These collaborations involve setting up manufacturing plants, tanneries, and R&D centers dedicated to leather product innovation, according to Khalid Waleed, advisor to the Pakistan Tanners Association. In June, the Association of Guangdong Shoe […]
Read MoreGwadar Pro Islamabad: Pakistan’s exports of goods and services to China witnessed an increase of 33.67 percent during the twelve months of the fiscal year (2023-24) as compared to the exports of the corresponding period of last year, State Bank of Pakistan (SBP) reported this week. The overall exports to China were recorded at $2.707 […]
Read MoreCelina Ali Islamabad: Pakistan and France this week affirmed their commitment to deepen economic relations, exploring investment opportunities, and expanding bilateral trade. This commitment was expressed during a meeting between Minister of State for Finance Ali Pervaiz Malik and French Ambassador Nicolas Galey in Islamabad. Ali Pervaiz Malik provided an overview of Pakistan’s economic progress, […]
Read MoreGlobal Times This year marks the 20th anniversary of the comprehensive strategic partnership between China and Italy, as well as the 700th anniversary of Marco Polo’s death. Both sides should view and develop bilateral relations from a historical dimension, facing important opportunities for mutual development. On the afternoon of July 29, Chinese President Xi Jinping […]
Read MoreGlobal Times Beijing: The US should immediately correct its wrongdoings, stop deceiving the world with lies, cease slandering and smearing other countries, Chinese Foreign Ministry spokesperson Lin Jian said this week commenting on the report of US Marine Corps’ release of official doctrine on how it employs deception. The US should provide an explanation to […]
Read MoreNewswire Lisbon: A new penny will be distributed throughout Portugal from Wednesday that depicts the legendary hero Ulysses, designed by artist Gonçalo Viana. With a face value of €5, the coin is only valid in Portugal, and will be distributed to the public through credit institutions, the Banco de Portugal’s cash offices and the shops […]
Read MoreNewswire Athens: Island-hopping in Greece this summer just got a little easier. Hoper, the first helicopter airline in Greece offering scheduled flights, is now selling tickets to 11 destinations, including harder-to-reach spots such as Antiparos, Folegandros, Ios, Kea, Patmos, Sifnos and Spetses. All connect to either Athens, Santorini or Mykonos, which serve as the carrier’s […]
Read MoreKrassen Nikolov Sofia: Bulgaria has lost €0.7 billion this year alone – including €423 million in direct losses and €225 million in lost benefits – as a result of not being fully admitted to the Schengen area, said caretaker Economy Minister Petko Nikolov. Bulgaria, along with Romania became Schengen Area members at the end of […]
Read MoreAstana: Kazakhstan has introduced a new Mineral Extraction Tax (MET) for uranium, with rates significantly increasing from 2026 onwards. The new tax structure is expected to discourage uranium production growth in Kazakhstan, the world’s largest uranium producer. Analysts predict that the reduced supply incentive, coupled with increasing uncertainty, could drive uranium prices higher. Uranium mining […]
Read MoreNewswire Tokyo: Japan, known for its exacting service standards, is now taking a stronger stance against a growing scourge of customer harassment to protect its legions of service workers from abuse. On July 9, Takashimaya became the first major department store to announce measures against such harassment – kasuhara in Japanese. It warned that it […]
Read MoreLiaquat Ali Peshawar: Indonesian diplomats this week invited Khyber Pakhtunkhwa businessmen to make investments in their country and offered multiple facilities along with a five-year tax holiday. Rahmat Hindiarta Kusuma, chargé d’affaires, and Axelsyah R Miraza, economic attaché and M Syofiyan Sur of the embassy of Republic of Indonesia made the offer during a visit […]
Read MoreNewswire Brussels: The EU Commission expects a decrease in rapeseed harvests in Romania, Germany, Poland and the Czech Republic in 2024 compared to the previous year. Freezing temperatures earlier in the year and abundant rainfall have fuelled concerns over this year’s rapeseed harvest in many parts of the EU-27. There are fears of considerable declines […]
Read MoreNewswire Athens: Greece is grappling with a severe shortage of agricultural workers, prompting urgent calls from exporters to relax entry requirements for hiring foreign labourers. The deficit, estimated at 180,000 workers, has left swathes of land uncultivated and crops unharvested, dealing a significant blow to farmers and the economy, reported Schengen.News. The National Interprofessional Organization […]
Read MoreHefei: The man who spearheaded China’s electric car strategy said Wednesday that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. “I believe the governments [of China and the European Union] are now considering how, through negotiations, they can combine investment together with commodity trade,” […]
Read MoreRudy Ruitenberg Paris: Denmark plans to bring home its six F-35 Joint Strike Fighters currently being used to train pilots in the US as the delivery schedule for an upgraded version of the aircraft continues to slip. The six Danish F-35 jets in TR-2 configuration stationed at Luke Air Force Base in Arizona will be […]
Read MoreNewswire Lisbon: The Portuguese Air Force this week received its second KC-390 multi-mission aircraft from aerospace giant Embraer. The new aircraft follows the delivery of its sister plane last year under a five-unit 2019 deal, signed to bolster the air force’s transport and cargo capabilities. Embraer’s eighth global C-390 craft is fitted with standard NATO […]
Read MoreTokyo: Along with having the world’s cleanest airport, Japan continues to maintain its high standards in the airline industry with two of the country’s major carriers ranked as some of the best internationally. This year’s World Airline Awards by Skytrax just named two Japanese carriers in the world’s top ten airlines list: All Nippon Airways […]
Read MoreCovert Report Milan : Italy is asking Google to pay 1 billion euros ($1.07 billion) in unpaid taxes and penalties, three sources with direct knowledge of the matter said on Friday, seven years after the US company settled a landmark tax dispute with Rome authorities. “We comply with tax regulations in all countries where we […]
Read MoreCelina Ali Islamabad: Pakistan’s Ambassador to France Asim Iftikhar Ahmad this week attended a Memorandum of Understanding (MoU) signing ceremony between Business Forum and International Business & Professional Corporation aimed at boosting commerce and trade activities and promoting ‘Made in Pakistan’ Products in France. Participants appreciated the working of Special Investment Facilitation Council (SIFC), which […]
Read MoreNewswire Brussels: The Commission welcomes the Council’s adoption of a 14th package of sanctions against Russia. The new package responds to the needs and findings on the ground, and tackles enforcement issues. As the Russian aggression against Ukraine continues, the EU remains determined to keep acting to further reduce Russia’s sources of revenue and capacity […]
Read MoreNewswire Sofia: The Bulgarian labour market is facing a shortage of workers ranging from 250,000 to 300,000, as asserted by the human resources expert Georgi Parvanov. Among these, 70,000 are attributed to the lack of seasonal workers, Schengen.News reports. Parvanov, who is a member of the executive committee of the Confederation of Employment, suggested that […]
Read MoreParis: France, Germany and Poland agreed this week to deepen defense cooperation ahead of a snap election that could see the far-right National Rally enter the French government. French Armed Forces Minister Sébastien Lecornu shared the stage with his German and Polish counterparts, Boris Pistorius and Wladyslaw Kosiniak-Kamysz, to make the announcements on joint exercises, […]
Read MoreCelina Ali Islamabad: Prime Minister Shehbaz Sharif said this week that his country will seek assistance from Chinese experts to establish a pilot facilitation center modeled after the one-stop shop in the southern Chinese city of Shenzhen, to promote a business and investor-friendly environment. Addressing a meeting to enhance business opportunities and facilitate the business […]
Read MoreCelina Ali Islamabad: Huawei Technologies Pakistan has successfully executed Huawei Tech connect 2024, said an official statement this week. This event was focused on bringing Digital Transformation to the SME sector of Pakistan, revolutionizing the way organizations operate with a steadfast approach towards improving the Information and communications technology (ICT) landscape of Pakistan. The cross-Industry […]
Read MoreAstana: Azerbaijan and Kazakhstan are in discussions to increase the transit of Kazakh oil through Azerbaijan, potentially raising the volume to between five and seven million tonnes per annum (mtpa). Zaur Gakhramanov, an adviser to the president of SOCAR, Azerbaijan’s state-owned oil business, confirmed the development. Kazakhstan is actively seeking to diversify its energy export […]
Read MoreXi’an: A train fully loaded with diverse goods departed from Xi’an, the capital city of northwest China’s Shaanxi Province this week, bound for Malaszewicze, Poland, marking a significant milestone as the total number of China-Europe freight train trips has surpassed 90,000. To date, China-Europe freight trains have transported more than 8.7 million twenty-foot equivalent unit […]
Read MoreNewswire Islamabad: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb was called on by Huawei Pakistan’s Chief Executive Officer Mr. Sun Xiaofei along with his senior management team at Finance Division this week. Mr. Xiaofei briefed the Finance Minister on the various digital and ICT initiatives of Huawei. He highlighted Huawei’s significant contribution to […]
Read MoreCelina Ali Islamabad: Italy’s Ambassador to Pakistan, Marilina Armellin, this week emphasized the potential for enhanced cooperation between Italy and Pakistan, particularly in the textile, machinery, agriculture, and dairy sectors, during a meeting with Finance Minister Muhammad Aurangzeb. The Finance Minister welcomed the Italian Ambassador and highlighted the significant improvements in Pakistan’s economic landscape. He […]
Read MoreDing Gang A recent editorial in the Financial Times, titled “Time to get Europe back to work” highlights a daunting challenge the European economy faces: an increasing number of individuals opting to “lie flat.” This issue, however, is not unique to Europe; it is a common ailment of post-industrial societies. Even China, amid the transition […]
Read MoreOttawa: As the three-day SIAL Canada 2024 exhibition opened in Montreal this week, 10 Pakistani firms with over 20 participants are participating in the leading international food show showcasing the country’s rice, fruit, pink salt and food industry. SIAL Canada 2024 is the largest food exhibition which is the only event of its kind in […]
Read MoreGwadar Pro Islamabad: President of Pakistan China Joint Chamber of Commerce and Industry (PCJCCI), Moazzam Ghurki has stated that the Pakistani fishing industry is immensely attractive to Chinese investors. China has a huge consumer market for aquatic products and is one of the largest buyers in Pakistan. The main aquatic categories of Pakistan’s exports to […]
Read MoreWang Xiaotong – China Economic Net Beijing: Pakistan’s Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal was on a three-day visit in Beijing last week. During the media interaction held in the Pakistani Embassy in China, he revealed that they are working with the Chinese counterparts to define parameters of China-Pakistan Economic Corridor […]
Read MoreCelina Ali Islamabad: Pakistan’s exports to European Union underwent a discernible downturn, marking a decline of 6.27 percent during the initial nine months of the ongoing fiscal year. Despite the coveted GSP+ status, which affords most Pakistani exports duty-free access to European markets, the allure of European destinations seemed to wane. The European Parliament’s unanimous […]
Read MoreGlobal Times According to multiple Western media outlets citing a “person familiar with the plan,” the US government is expected to announce as early as May 14 that it will increase the tariff on Chinese electric vehicles (EVs) from the current 25 percent to 100 percent, and impose new tariffs on other Chinese goods including […]
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