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  • IMC wins gold at Asia Pacific skill contest

    July 12, 2018 12:00 AM 1

    KARACHI: Indus Motor Company’s (IMC) team has won four medals, at “Asia Pacific Skill Contest 2018” in Thailand, defeating India, among other countries, a statement said on Wednesday. Asia Pacific Skill Contest is an annual competition, hosted by Toyota Global. This year’s contest, attracted at least 146 contestants, from 12 Toyota affiliated companies

  • Bahrain’s economy shrinks in Q1 as oil production sags

    July 12, 2018 12:00 AM 1

    DUBAI: Bahrain´s economy shrank on an annual basis in the first quarter of 2018 for the first time in at least seven years, hit by a fall in oil production, data from the official statistics agency showed on Wednesday. The figures may increase concern about the health of Bahrain´s economy as it struggles with a current account gap and a large state budget

  • Stocks inch up as value hunters go for oversold oil, financial shares

    July 11, 2018 12:00 AM

    Stocks closed up on Tuesday following a volatile session as undervalued oil and financial scrips attracted institutional buyers and an assurance of timely elections by director general of the Inter-Services Public Relations (ISPR) restored some confidence among investors, dealers said. Analyst Ahsan Mehanti from Arif Habib Corporation said stocks closed

  • Switzerland launches WTO action

    July 11, 2018 12:00 AM

    GENEVA: Switzerland has launched a complaint at the World Trade Organization against U.S. tariffs on steel and aluminium, it said on Tuesday, the eighth WTO member to start such a challenge. "From Switzerland´s point of view, the additional duties, which according to the U.S. have been introduced to protect national security, are unjustified," the statement

  • CMC pledges a day’s salary to dams fund

    July 11, 2018 12:00 AM

    Karachi: The employees of CMC (Pvt) Ltd will donate one day’s salary to the announced fund for construction of Diamer-Basha and Mohmand dams, a statement said on Tuesday. In doing so, CMC (Pvt) Ltd has become the first private sector firm to pledge a contribution to the fund. The special fund for the construction of two dams has recently been formed

  • Pakistan to chair UNCTAD’s 17th session on IGE

    July 11, 2018 12:00 AM

    ISLAMABAD: Pakistan is going to chair the 17th session of the Intergovernmental Group of Experts (IGE) on Competition Law and Policy being held by the United Nations Conference on Trade and Development (UNCTAD) from July 11-13 in Geneva, Switzerland. Every year, this group meets to discuss ways of improving worldwide cooperation on competition policy

  • Amazon to bring 1,700 jobs to Italy

    July 10, 2018 12:00 AM

    Milan: Amazon will bring 1,700 new jobs to Italy by the end of the year, the online commerce giant announced Monday, bringing its number of employees working in the country´s groaning economy to 5,200. In a statement Amazon said that the new positions would be permanent hires and open to "people with all levels of experience, training and skills, from software

  • Secretariat established for dams

    July 10, 2018 12:00 AM

    LAHORE: Following the Supreme Court’s historic judgment of July 4, 2018 to expedite the construction of two critical dams namely Diamer Basha and Mohmand, a Secretariat has been established at Islamabad for the Implementation Committee of Diamer Basha and Mohmand Dams (ICDBMD). WAPDA Chairman Lt Gen Muzammil Hussain (retd) will serve as ICDBMD Chairman

  • Engro Foods goes green in Sobhodero

    July 10, 2018 12:00 AM

    KARACHI: Engro Foods Limited (EFL) has gone green by converting to solar energy for business operations at their Milk Collection Center (MCC) in Sobhodero, Sindh, a statement said on Monday. It has benefitted the center with continuous power supply for the industrial grade milk chillers and other heavy equipment with zero power generation cost, it added

  • Descon Engineering hosts dinner

    July 10, 2018 12:00 AM

    LAHORE: Descon Engineering celebrated their 40 years anniversary of operations by hosting a dinner for their clients and partners at the Royal Palm Golf and Country Club in Lahore, a statement said on Monday. Among the attendees at the celebratory dinner were the prominent heads of business such as the CEOs of Master Tiles, Sapphire Energy, Master Energy