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In another sign of India's growing ties with China, the cabinet Wednesday approved a proposal for creating an economic wing to be headed by a minister (economic) in its embassy in Beijing.

US stocks posted broad gains on Monday on the back of last week's positive unemployment report and other signs that the US economic recovery may be gathering steam.

ISLAMABAD: The government on Monday approved, in principle, the New Gwadar International Airport project at a cost of Rs55.4 billion, about 147% higher than the first revision, and also sanctioned a reduction in the scope of an important Gwadar road scheme. The decisions were taken by the Central Development Working Party (CDWP) - a body having the mandate to scrutinize and approve development schemes and refer the mega ones for final ratification of the Executive Committee of National Economic Council (Ecnec). Planning Commission Deputy Chairman Jehanzeb Khan chaired the CDWP meeting. The CDWP took up the New Gwadar International Airport project, which would be built with the help of Pakistan government funds and a Chinese grant of 1.52 billion yuan or Rs34 billion. The total cost of the project is Rs55.4 billion. The new Gwadar airport is considered important for the development of Gwadar Port and its free zone. The Ministry of Planning is now gradually taking back the control of the China-Pakistan Economic Corridor (CPEC) after the CPEC Authority law lapsed four months ago. The government has also brought back Hassan Dawood Butt to handle affairs in the next CPEC Joint Cooperation Committee (JCC) meeting. JCC is scheduled to meet this month and will take important decisions on the future roadmap of the multibillion-dollar strategic bilateral initiative. Butt had earlier been the deputy project director of the CPEC support project but moved to Khyber-Pakhtunkhwa Board of Investment. The original Gwadar airport project had been approved at a cost of Rs7.5 billion in 2010 and the revised one was cleared in 2015 at a cost of Rs22.2 billion. The CDWP approved the second revision on Monday with a cost of Rs55.4 billion, higher by Rs33 billion or 147% than the 2015 cost. A key reason behind the increase in cost was that the new plan was based on a detailed design of the project. The CDWP directed the Civil Aviation Authority (CAA) to review the possibility of c

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India's top leadership attended the India Economic Summit 2016 on 6-7 October 2016 in New Delhi, where a number of key discussions were held.

The last week brought a series of economic figures that appeared to show that the positive news from the end of last year might not be as strong as once thought.

UAE Economy Minister Sultan Bin Saeed Al Mansoori said Monday his country is looking forward to a new era of economic cooperation with Slovenia.

Italian families had less money to spend on non-essential items last year as the economic crisis deepened in Europe's fourth-richest country.

Big week for economic reports. The Street needs reassurance that the economic recovery is still intact. Look for new highs if the message is YES.

An indefinite economic blockade of Manipur by several Naga groups ended Friday with the last of the two splinter organisations calling off the 68-day agitation that led to shortage of food and medicines in the state.

Information and Broadcasting Minister Ambika Soni Monday said the United Progressive Alliance government has done well during the times of financial meltdown and drought, and the country is expecting good economic growth.

India and the US have pledged to together "try to reach for the stars" in fostering a stronger strategic partnership with enhanced bilateral trade and investment and economic, social and innovation linkages.