Silk Road

China pledges $124 billion for new Silk Road, says open to everyone

China pledges $124 billion for new Silk Road, says open to everyone

Chinese President Xi Jinping pledged $124 billion on Sunday for his ambitious new Silk Road plan, saying everyone was welcome to join what he envisioned would be a path for peace and prosperity for the world. China has touted what it formally calls the Belt and Road initiative as a new way to boost development […]

Some Pakistani power firms stuck in slow lane on China’s Silk Road

Some Pakistani power firms stuck in slow lane on China’s Silk Road

REUTERS A worker operates crane at copper wire unit at Pakistan Cables in Karachi.─Reuters Kamal Amjad Mian thought China’s decision to invest $36 billion in the Pakistani power sector would benefit his electricity cable business, and, anticipating increased demand, his family spent nearly $30 million on a second plant to double output. But Mian’s Fast […]