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US firm picks Logatec as its European production centre

Precision Resource, a US-owned company specialising in the development of fineblanking technology, has set up its Europe-based production facility in Slovenia. The new factory is based in Logatec, southwest of Ljubljana.

In addition to the new facility, the company has seven other production sites in the US, Canada, Mexico and China.

AIIB serves China's interests: Ex-executive

The Asian Infrastructure Investment Bank "serves China's interest" and Beijing wields "undue" influence over what is supposed to be a multilateral organisation, a former executive told AFP yesterday after resigning.

In the wake of his resignation, Canada's Finance Minister Chrystia Freeland announced Ottawa would "immediately halt all government-led activity at the Bank".

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