German, French defense companies to merge

VERSAILLES, France, July 2 (UPI) —Two major European Defense enterprises are merging their businesses as early as next year through a joint holding company.

The merger deal is between Germany’s Krauss-Maffei Wegmann and Nexter Systems of France, providers of land defense systems. Continue reading

Asian countries decide to create trade pact for A-Pac

NEW DELHI: Business leaders of Asian nations today decided to promote new free trade agreements and strengthen the existing pacts to use them as building blocks for creating a Free Trade Area of the Asia Pacific (FTAAP).

According to a joint statement issued after the 4th Asian Business Summit, economic partnership agreements and FTAs will bind Asian economies together and promote greater regional cooperation for expanded trade in goods, services and greater cross-border investment flows, besides dismantling of non- tariff barriers. Continue reading