Abraaj founder released from custody after $19 million bail payment

Arif Naqvi, the Pakistani founder of collapsed private equity firm Abraaj Group, has been released from custody after meeting bail conditions including the payment of a 15 million pound ($19 million) security, a court official said. Naqvi was being held at Wandsworth Prison in London after he was arrested in April in connection with charges […]

US Spares China Currency Manipulator Label, Expands Watchlist

(Bloomberg) The Trump administration again refrained from labelling China a currency manipulator on Tuesday, a decision that leaves one of the president’s campaign promises unfulfilled but avoids further escalation in the trade war between the world’s two largest economies. The Treasury Department issued its semi-annual foreign-exchange report to Congress, expanding the number of countries it […]

Building one of the best CNC machines in the business

Vanad is a traditional, 100-per-cent family-owned Czech manufacturer specialising in the development and production of affordable modern design, high-performance CNC machines for precise oxy-fuel cutting, state-of-the-art plasma technologies and fiber lasers that meet the highest quality requirements and allow the use of the most efficient technologies. Founded by MSc Luboš MiřátskĂ˝ in 1994, the brand […]

Leaders in power generation control systems

ComAp designs and manufactures control products for power generation and diesel/gas engines, along with associated accessories and software. It is leading the way in providing intelligent electronic control products and solutions that are highly flexible, intuitive and scalable. The brand is one of the world leaders in power generation control systems, with more than 400 […]

Venezuela claims 130,000% inflation, below international estimates

CARACAS: Venezuela ended 2018 with inflation above 130,000 per cent while its crisis-hit economy shrank by nearly half in the last five years, the central bank claimed Tuesday — a figure far below international estimates. Millions of people have fled the country as astronomical rises in the cost of consumer goods and broader economic woes […]