Gwadar to have World's 5th Coast Centre:
The Baluchistan Govt. and
a UAE firm HRCsigned an agreement under which Gwadar
Coast Centre(GCC) would be established for the development of
the port city. The mega project would be established at 2000 acres of
land that would generate over 10,000 jobs.GCC would invest
$3.2 billion. Three coast centres were already working in Norway
and one in U.S.A. The project would be completed by 2014.The project
would help making Gwadar a big international port
city.
Oil Prices Lower:
World oil prices slid on profit-taking
on thursday(April 05) ahead of Easter
holiday weekend, reversing earlier gains
that were linked to a massive plunge in US motor fuel reserves, traders
said.
In London trades, the Brent Noerth Sea
crude for May delivery fell 30 cents to $68.10 in electronic deals.
New York's main oil futures contract, light
sweet crude for delivery in may, shed 24 cents to $64.14 in floor trading.
Motor fuel stocks are being closely watched before the driving season,
which starts next month, when many Americans hit the roads for their
summer holidays.
Chinese Economy:
China will see very strong
growth in 2007, but the government does not need to be too concerned
about bottlenecks and other signs of overheating, the World Bank said
on Thursday.
While domestically the world's Fourth-Largest
economy we think that growth in China will remain very strong
this year, said Louis Kuijs,senior economist
with the World bank in Beijing.
