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  • Multinet selects Oracle cloud apps

    May 15, 2018 12:00 AM 3

    KARACHI: Multinet Pakistan, one of the country’s premier information and communication solutions provider, has selected Oracle Cloud applications to help modernise its financial operations, and to help completely automate the key processes in order to free up its staff from routine transactions and focus more on innovative data analysis to support more-informed

  • SECP unveils new regulations

    May 15, 2018 12:00 AM

    ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified the Limited Liability Partnership (LLP) Regulations 2018 under the LLP Act 2017. LLP is an alternative form of business establishment, which has the flexibility of a general partnership as well as the advantages of a limited liability company, a statement said on Monday

  • NLC to operate Logistics Park in Dhabeji

    May 15, 2018 12:00 AM

    KARACHI: State-owned National Logistics Cell (NLC) on Monday unveiled plan to set up a logistics park to facilitate trade and industry at the proposed special economic zone in Dhabeji. Sindh Board of Investment (SBI) and NLC signed a memorandum of understanding to set up the park within the proposed China-Pakistan special economic zone (SEZ), 80 kilometers

  • China’s ZTE paid over $2.3bln to US exporters last year

    May 13, 2018 12:00 AM

    SAN FRANCISCO: Chinese technology company ZTE Corp , which this month suspended its main operations after a U.S. Commerce Department ban on American supplies to its business, paid over $2.3 billion to 211 U.S. exporters in 2017, a senior ZTE official said on Friday. ZTE paid over $100 million each to Qualcomm Inc, Broadcom Inc, Intel Corp and Texas Instruments

  • Punjab imposes strict conditions on flour supply under Ramazan package

    May 13, 2018 12:00 AM

    LAHORE: The Punjab government has imposed strict conditions on wheat flour supply under Ramazan package 2018 to check misappropriation. To ensure grinding of highly subsidised wheat, the Food Department had asked flourmill owners to submit fresh power meter reading along with copies of three months’ paid electricity bills by Saturday (May 12, 2018). The comparison

  • SECP chairman appointed after 10 months

    May 13, 2018 12:00 AM 1

    ISLAMABAD: The government on Saturday appointed new chairman of the Securities and Exchange Commission of Pakistan (SECP) after almost 10 months with the top echelon served under acting chairmanship since the suspension of Zafar Hijazi as the commission’s chief. The Finance Division, in a statement, notified the appointment of Shaukat Hussain as the SECP Chairman

  • Volkswagen to recall 410,000 cars

    May 12, 2018 12:00 AM

    Frankfurt am Main: German carmaker Volkswagen said on Friday it would recall 410,000 cars from its own brand and Spanish subsidiary Seat over faulty seat belts, warning customers not to use the middle seat in the meantime. "There is the possibility that in rare situations... when the rear centre seat and the rear left seat are occupied at the same time, the left seat belt lock could

  • JP Morgan looks to expand in China

    May 12, 2018 12:00 AM

    Beijing: Wall Street titan JP Morgan Chase has become the latest firm to apply for a controlling stake in a Chinese securities venture, taking advantage of new rules Beijing put in place last month as part of a move to open up the economy. JP Morgan Broking applied to establish a foreign invested securities firm with 51 percent control on May 10, according

  • SECP underscores compliance requirements

    May 12, 2018 12:00 AM

    ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has organised a seminar to raise awareness about the importance of corporatisation and post-incorporation compliance requirements in the light of recent amendments to relevant laws, a statement said on Friday. Asad Feroze, chairman, Northern Regional Committee (NRC), Institute of Chartered

  • Vodacom Tanzania eyes more spectrum after solid annual earnings growth

    May 12, 2018 12:00 AM

    DAR ES SALAAM: Vodacom Tanzania reported a 6 percent rise in full year pretax earnings on Friday, helped by the launch of cheaper smartphones, and said it plans to buy additional spectrum to boost internet services. Vodacom Tanzania, majority owned by South Africa´s Vodacom Group, said in a statement that EBITDA rose to 266.4 billion shillings ($117 million)