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French carmaker PSA sales speed up on Opel takeover

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PSA sales speed

PARIS: French carmaker PSA on Thursday said its global car sales jumped in the first half by over 38 percent, driven by its takeover last year of Opel and Vauxhall.

PSA, which also owns the Peugeot, Citroen and DS auto brands, said it had sold nearly 2.2 million vehicles worldwide in the first six months of the year. In its statement, it feted a “new all-time record and a 38.1 percent growth compared with the first half of 2017”. The company sold nearly 1.7 million units in its main market, Europe, pushing sales up by a massive 61.5 percent, the statement said.

Over 550,000 vehicles sold in Europe were Opel and Vauxhall units, it added. PSA in August 2017 completed its takeover of rival brands Opel and Vauxhall, making it Europe’s second-biggest carmaker after Volkswagen.

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15 countries attending Int’l plastic products expo in Tehran

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TEHRAN: Iranian Deputy Petroleum Minister Reza Norouzzadeh and other officials from the country’s oil and petrochemical industry participated in the inauguration ceremony of the ‘Iran Plast’ exhibition.

The biggest-of-its-kind in the Middle East, the exhibition hosts as well as visitors from 22 countries. Iranian petrochemical companies are planned to engage with their peers in other countries during the event.

The 12th edition of Iran Plast exhibition is underway in Tehran International Permanent Fairground.  The four-day event is expected to wrap up on Thursday, 27th September. 

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USCS leads Pak businessmen to Solar Power Trade Event in US!

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KARACHI: The United States Commercial Service (USCS) is leading a 15-member delegation of Pakistani companies to Solar Power International (SPI) trade show, held in Anaheim, California from September 25 – 27, 2018. 

The SPI trade show is the largest solar show in North America.  SPI 2018 is expected to attract over 650 exhibitors and over 20,000 attendees from more than 100 countries.  Focused on providing the latest updates and information for the solar energy industry, SPI features multi-track conference sessions and workshops on business and market trends, solar storage, utility, and grid integration. 

“The Pakistani market is poised to take off in Solar Power, guided by a motivated government working to strengthen and expand economic and foreign investment opportunities and development,” said Mark Russell, Commercial Counselor at the U.S. Consulate in Karachi.”

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Chinese industrialists to invest $400 m in Sindh

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China to set up universities in Pakistan

HYDERABAD: The industrialists belonging to China’s Chongqing Federation of Industry and Commerce will invest $400 million in several trade and industrial projects in Hyderabad and other parts of Sindh.
The federation’s representative Zhang Yang informed a press conference at the office of Hyderabad Chamber of Commerce and Industry (HCCI) here Sunday that a memorandum of understanding (MoU) has already been signed in this regard. Yang informed that the MoU, which would last for 5 years, was signed between the Federation and HCCI in China in May this year.
He said under the MoU the investments would be made in steel, textile, and clothing, real estate, agriculture, tourism, education and training, municipal and solid waste disposal sectors. “We have declared Chongqing and Hyderabad as the friendly cities,” he told, adding that up to 34 industries and investors from Chongqing would make their investments in the joint ventures in Hyderabad and other cities of Sindh.
He told that the industrialists from the 2 cities had already maintained a promising cooperation in the industry. “We now want to further bolster the business ties in the steel, textile, real estate, and other sectors,” Yang said. He said Chongqing was a beautiful city in China and that it was home to the automobile and motorbike industry.
The Chinese businessmen said Hyderabad was a favorite place for investment where the Chinese industrialists intended to introduce advanced technology. He informed that Hyderabad was selected for the investment after HCCI submitted investment proposals to the federation. “This MoU is part of the CPEC as 34 Chinese companies will be making investments in various sectors,” former HCCI president Seth Goharullah said.
The HCCI’s vice president Ziauddin, who signed the MoU with his Chinese counterparts earlier in China, apprised that a formal agreement between the mayors of Chongqing and Hyderabad would be signed in October in Pakistan. He told that the Chinese delegations would visit Hyderabad and sign agreements with the local companies. According to him, a sub-office of the federation was also established in Hyderabad’s SITE area and it would also be inaugurated in October. The office bearers and members of HCCI were present on the occasion.

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