PR Resource – Muarateweh.net

LAHORE: The Small and Medium Enterprise Development Authority (SMEDA) has formulated a strategy to boost the export of furniture from $15 million to $1 billion by the year 2015, said Chief Executive Officer of SMEDA Shahid Rashid while addressing a press briefing on Monday.

He said SMEDA would also start a project called ‘Furniture Pakistan’, a public-private sector partnership entity dedicated to the development of the furniture industry. He said keeping in view the potential of growth, furniture sector was selected to be a part of the project and task was assigned to prepare a comprehensive strategy for the development of the sector. As part of this effort, a private led Strategy Working Group (SWOG) including major stakeholders of furniture sector from all major furniture clusters of Pakistan was formed. He said that by񎧟, the wooden furniture exports would touch $1 billion. (continue reading…)

Following the recent historically significant visit of President of Vietnam in the US, a US Furniture Industry Business Mission to Vietnam is being organized and scheduled from Oct. 7th to Oct. 14th , 2007.

This special event is organized in conjunction with the annual International Furniture EXPO in Ho Chi Minh City and a series of US Vietnam Trade & Investment Conferences.

With over 9 billion US dollars export value to the US in 2006, Vietnam represents an important trading partner of the US and also provides American companies with an excellent option in sourcing quality and competitively-priced products beside China. Moreover, as the 150th member of the World Trade Organization, Vietnam is opening up various opportunities for international business cooperation not only in manufacturing but also in service industries. (continue reading…)

NEW DELHI: In a move that comes as a big boost to foreign companies looking to invest in sectors reserved for small scale units, the government plans to scrap the mandatory export obligation imposed on such investments. As of now, FDI in sectors reserved for SSIs is permitted only if the company concerned agrees to export 50% of the production.

As many as 114 items are reserved for SSIs and the list includes expresso coffee maker, electric kettle, chemicals, dyes, PVC footwear, pens and steel items. Foreign investors have been demanding that export obligation on investment in these areas should be scrapped.

The SSI department has discussed the issue with the department of industrial policy & promotion (Dipp), senior government officials said. While there is unanimity on the need to scrap the mandatory export obligation, the modalities are yet to be decided. The government wants to avoid political criticism while going ahead with the liberalisation, they added. (continue reading…)

By Kenneth Li and Robert MacMillan

NEW YORK (Reuters) – Internet entrepreneur Brad Greenspan outlined a new proposal on Friday to keep Dow Jones & Co Inc out of Rupert Murdoch’s hands, saying his plan could help boost the stock price to above $100.

Urging shareholders to reject Murdoch’s $5 billion takeover bid, Greenspan offered to lend members of the Bancroft family, which controls Dow Jones, $400 million to $600 million to buy out other Bancrofts who want to cash out at $60 per share – the price Murdoch’s News Corp has offered.

In exchange, Greenspan said he would get two board seats and the rights to all value created in the stock above $60 per share. (continue reading…)

Wall Street declined yesterday, retreating from record levels in response to disappointing results from Caterpillar and Google.

The drop in stocks capped a losing week for the Dow Jones industrial average after three weeks of gains, and came a day after the blue chips closed above 14,000 for the first time. The Standard & Poor’s 500-stock index likewise logged a record close Thursday.

Yesterday’s retrenchment might not be surprising after weeks of somewhat volatile trading and the big gains Thursday. Still, a big factor was Caterpillar, which has been one of the best performers among the 30 stocks that make up the Dow and a big contributor to the march to 14,000. The company, which makes heavy equipment, unnerved investors when its results came in well below expectations. (continue reading…)

In China’s booming economy, wealthier citizens are trading in bicycles for cars.

More cars mean more highways.

And more highways mean more business for MeadWestvaco, a company based in Richmond, that sells a key chemical used to make asphalt.

China represents the fastest growing export market for MeadWestvacoÃ�€™s specialty-chemicals division, which is based in Charleston, S.C. Its chemical sales to China grew by a third last year, and the company expects sales to double by 2010.

“China is very committed to upgrading their road (network), so we see the road-construction industry growing tremendously over the next decade,” said the president of the chemicals division, Robert Beckler. (continue reading…)

According to information released recently by Ningbo city’s Standards Academe, European Union issued a law late last year to limit the use PFOS — a chemical used in industrial goods such as textile and leather products and carpets. EU member countries must implement this law from June 27, 2008.

This law was necessitated because recent studies have found that PFOS contains toxic pollutants that can accumulate to potentially dangerous levels. EU, America, Japan, Canada and other developed countries have taken a keen interest in reducing this chemical’s harmful effects. (continue reading…)