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04:31 Growth improves, but targets missed

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  • Remittances rise 16% with start of new fiscal year

    August 11, 2017 1:22 AM 9

    KARACHI: Overseas Pakistani workers sent home $1.542 billion in July 2017, up 16.1% compared with $1.328 billion in the corresponding period of 2016, according to data released by the State Bank of Pakistan (SBP) on Thursday. Overall remittances in fiscal year 2016-17 (FY17) ended June 30, 2017 were $19.3 billion, down 3% compared with $19.91 billion

  • Petronas to invest $150 million

    August 11, 2017 12:00 AM 4

    KUALA LUMPUR: Malaysia´s state energy firm Petroliam Nasional Berhad, or Petronas, will invest $150 million in India over the next five years to strengthen its lubricants business, the company said on Thursday. The investment includes a $50 million lubricant blending plant that will be completed by the first quarter of 2018, Petronas said in a statement

  • NIP to develop SEZ in federal capital

    August 11, 2017 12:00 AM 2

    ISLAMABAD: The Board of Investment (BOI) on Thursday said National Industrial Parks (NIP) a development and a management company would develop the planned Special Economic Zone (SEZ) in Islamabad. "We require around 50 acres to develop SEZ in the federal capital for providing equal opportunity and facilities to foreign and local investors,” a BOI spokesman

  • 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