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04:31 Growth improves, but targets missed

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  • Pak items showcased at MuslimFest

    August 11, 2017 12:00 AM 3

    KARACHI: To celebrate Pakistan's 70th independence, the Consulate General of Pakistan, Toronto set up a grand Pakistan pavilion at the annual MuslimFest 2017 on August 5 & 6, 2017 in Celebration Square, office of the Mayor of Mississauga, Bonnie Crombie, a statement said on Thursday. A large number of Muslim countries participated in the two-day festival

  • Pak Elektron profit down 6.23 percent

    August 11, 2017 12:00 AM 3

    KARACHI: Pak Elektron Limited (PAEL) has earned a net profit of Rs1.625 billion for the quarter ended June 30, 2017, which is 6.23 percent down than the profit of Rs1.733 billion during the same period of the last year, a bourse filing said on Thursday. The earnings per share (EPS) clocked in at Rs3.24 for the quarter under review as compared to EPS of Rs3.46 last year. The company

  • Mexico cenbank holds rate, says sees inflation cooling

    August 10, 2017 7:50 PM 2

    MEXICO CITY, Aug 10 (Reuters) - Mexico's central bank held borrowing costs steady on Thursday and said that a string of interest rate hikes was already beginning to slow the pace of a spike in inflation. The Banco de Mexico left unchanged its benchmark rate at 7.00 percent as expected in a Reuters poll of 18 analysts. (Reporting by Michael O'Boyle and Gabriel

  • Malaysia June factory output up 4% y-o-y, above forecast

    August 10, 2017 11:35 AM 1

    [KUALA LUMPUR] Malaysia's industrial production in June rose 4 per cent from a year earlier, government data showed on Thursday, slightly slower than the previous month's pace. Output growth beat the 3 per cent annual rise forecast by a Reuters poll but was down from the 4.6 per cent increase recorded in May. June's factory output was supported by strength

  • Sheraton hotel chain all set to return to Pakistan

    August 10, 2017 6:12 AM 2

    KARACHI: Sheraton hotel chain is coming back once again in Pakistan with the efforts of Mansha group. This will provide impressive Life Style to Five Star Plus Hotel customer. According to details, Emporium Hospitality has signed a hotel franchise agreement with the world's largest hotel company Starwood for the Sheraton Grand Hotel, under which Emporium

  • HKEX Chief Says Primary Connect a Key to Winning Saudi Aramco

    August 10, 2017 4:30 AM 5

    HKEX has so far created three links with domestic Chinese markets, and CEO Charles Li has plans for several others. The primary connect, which would see shares in Hong Kong-based initial public offerings made available to mainland investors, would act as a lure to major companies, he said in an interview on Bloomberg Television on Thursday. “For Saudi

  • Imperium Hospitality signs agreement with Starwood

    August 10, 2017 1:40 AM 3

    Imperium Hospitality has signed a hotel franchise agreement for Sheraton Grand Lahore Hotel with Starwood, the leading hotel company in the world. Starwood the parent company of Sheraton Grand Hotel reflects excellence through an inspiring lifestyle with five star plus hotel. The CEO of Imperium Hospitality Qasim Jafri shared his views and commented

  • Saudi cuts oil allocations in Sept by more than its OPEC pledge

    August 9, 2017 12:00 AM 3

    DUBAI/SINGAPORE: Saudi Arabia will cut crude oil allocations to its customers worldwide in September by at least 520,000 barrels per day, an industry source said on Tuesday, as the top oil exporter makes good on its pledge to help rein in a global supply glut. State oil giant Saudi Aramco will cut supplies to most buyers in Asia - the world´s biggest

  • Dollar remains flat in value versus rupee

    August 8, 2017 8:37 PM 1

    KARACHI: The greenback closed flat in value versus rupee on insignificant demand from corporate sector in interbank while stood firm in value in open market, treasurers and currency traders said. The commercial banks kept maintaining local currency in firm zone and controlling inflow and outflow of greenback. The dollar closed at Rs 105.30 for buying

  • Deutsche Post confident as e-commerce keeps delivering

    August 8, 2017 7:56 PM 3

    FRANKFURT: German logistics group Deutsche Post confirmed its annual forecast Tuesday, as it reported a solid second quarter lifted by income from e-commerce. The Bonn-based group booked net profit of 602 million euros ($711 million) in the period from April to June, an increase of 11.3 percent year-on-year and in line with forecasts from analysts surveyed