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  • 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

  • Emirates lounge takes to the skies

    August 8, 2017 12:00 AM 7

    KARACHI/DUBAI: Emirates’ newly-revamped A380 Onboard Lounge has made its operational debut on a flight to Kuala Lumpur, marking the 9th anniversary of the airline’s award-winning A380 service, a statement said on Monday. The Onboard Lounge was first introduced on August 1, 2008 and has since become a mainstay of Emirates’ double decker aircraft. Now in its 9th year, the Emirates

  • PGNiG in talks on short to mid-term LNG contracts

    August 7, 2017 11:50 PM 1

    Reuters are reporting that Polish gas company PGNiG expects to sign short and mid term contracts for LNG by mid 2018 to take advantage of an expected supply glut. Poland opened its LNG terminal at Swinoujscie on the Baltic Sea last year to reduce its reliance on Russian gas supplies. PGNiG's sole LNG supply deal so far is with Qatargas, which in March

  • Malaysia to send lawmakers to Europe to defend palm oil — Mah Siew Keong

    August 7, 2017 8:27 AM 3

    SHAH ALAM (Aug 7): Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said Malaysia will sending six lawmakers to Europe next month (September) to gain the European Parliament's support on the use of Malaysian palm oil in Europe. Mah said this today following news reports which quoted the European Parliament as saying in a non-binding

  • PFA seals fake cold drink factory

    August 7, 2017 1:48 AM 8

    While taking an overview of numbers of captured fake cold drink factories, it seems that real cold drinks have gone rare in the market. Yet the counting of such factories has not stopped, addition of one has been witnessed after capturing a fake cold drink factory. As per details, DG PFA Noor ul Amin Mengal raided in Gulshan e Umar area of Green Town and captured

  • 8 flights cancelled from Islamabad airport due to Internet trouble

    August 6, 2017 11:22 PM 1

    ISLAMABAD: Eight domestic and international flights from Islamabad's Benazir Bhutto International Airport were cancelled on Sunday due to the Internet disruption caused by a fault in the submarine cable. Airport officials said that the reason behind the cancellation of flights was the slow Internet speed caused by a fault in the India-Middle East-Western

  • Major outage in intl submarine cable system remains unfixed

    August 6, 2017 2:25 PM 8

    Internet users will experience slow internet browsing for second day today owing to a fault that occurred in IMEWE, an international submarine cable system which provides internet bandwidth to Pakistan, near Jeddah, Saudi Arabia early Saturday morning. “A fault has occurred in IMEWE due to which users will experience slow internet browsing whereas another

  • Internet connectivity restored after repair work complete

    August 6, 2017 2:25 PM 8

    The internet connectivity was restored across Pakistan on Sunday evening after the repair work on the international submarine cable was completed. Pakistan Telecommunication Company Limited (PTCL) made the announcement on Twitter, saying ‘Good News! The repair work on the IMEWE cable has been completed and the internet connectivity has been restored