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  • Crisis-hit Iranian rial awaits buyers in Pakistani market

    May 11, 2018 12:00 AM 2

    KARACHI: Iranian rial lost charm in Pakistani currency market after the US restored sanctions with exchange companies and money changers wanting to sell it ‘rock bottom’ levels but absent are the buyers' appetite, analysts said on Thursday. Couple of days back the Iranian currency could be easily converted, and after paying Rs2,100 one could easily get 100,000 toman

  • Expats send home $16.257 billion in July-April FY18

    May 11, 2018 12:00 AM 1

    KARACHI: The amount of money sent home by Pakistani migrants living abroad increased in 10 months of the current fiscal year by 3.92 percent versus a year ago, the State Bank of Pakistan figures showed on Thursday. Remittances totalled $16.257 billion in July-April FY18, compared with $15.643 billion in the same period last year. In April, the figure

  • Provincial budget 2018/19: Sindh earmarks Rs252bln for development schemes

    May 11, 2018 12:00 AM 3

    KARACHI: Sindh government on Thursday allocated Rs252 billion under annual development program (ADP) for the next fiscal year of 2018/19, up a marginal 3.28 percent over the last year’s budget. Sindh Chief Minister Murad Ali Shah, unveiling the last budget of the provincial government’s tenure, said 80 percent of the next fiscal year’s ADP or Rs202 billion

  • Emirates Group posts $1.1bln profit

    May 10, 2018 12:00 AM 2

    DUBAI: The Emirates Group on Wednesday announced its 30th consecutive year of profit and steady business expansion, a statement said. In its 2017/18 annual report, the Emirates Group posted a profit of AED 4.1 billion ($1.1 billion) for the financial year ended March 31, 2018, up 67 percent from last year, it added. The group’s revenue reached AED 102.4 billion

  • Poultry exhibition in July

    May 10, 2018 12:00 AM 2

    KARACHI: Pakistan Poultry, Dairy and Livestock Exhibition will be held from July 20 to 22 in Karachi with the support of all stakeholders, including public and private sectors. In this regard, a joint press conference was held at a local hotel on Wednesday evening, consisting of Sindh Board of Investment, dairy and poultry associations and Small and Medium

  • China moves to rope in its tech ‘unicorns’

    May 10, 2018 12:00 AM 1

    Shanghai: Having lost the likes of Alibaba and Baidu to Wall Street, China is hatching a plan to woo them back and make sure it keeps a new generation of technology titans closer to home as it battles the US for supremacy in the sector. New share offerings worth tens of billions of dollars are in the pipeline for 2018, setting it up as a blockbuster

  • Saudi Arabia can boost oil output

    May 10, 2018 12:00 AM 2

    DUBAI: Saudi Arabia is monitoring the impact of the U.S. withdrawal from the Iran nuclear deal on oil supplies and is ready to offset any shortage but it will not act alone to fill in the gap, an OPEC source familiar with the kingdom´s oil thinking told Reuters. On Tuesday, U.S. President Donald Trump abandoned a nuclear deal with Iran and announced

  • China’s CRCC bids for main railway line projects

    May 10, 2018 12:00 AM 2

    ISLAMABAD: China’s state-owned railway construction enterprise wants to carry out initial feasibility study on Main Line (ML-II Kotri-Attock) and ML-III Rohri-Chaman railways tracks, and aims to complete these projects under China-Pakistan Economic Corridor (CPEC), a statement said on Wednesday. "Yang Jinjun, vice president China Railways Construction

  • Pepsi partners with top fashion brands to launch cool new clothing line

    May 9, 2018 12:00 AM 6

    Lahore: Pepsi Generations is an ongoing global campaign that marks 120 years of Pepsi globally. The campaign was also introduced in Pakistan, with a commercial spanning through different eras of Pakistan, featuring iconic stars like Fawad Khan, Zohaib Hassan, Wasim Akram and Reema. The country was transported back in time as classic neon billboards covered

  • Ecolean partners with Prema

    May 9, 2018 12:00 AM 6

    KARACHI: Ecolean has entered into an agreement with At-Tahur Ltd purveyor of Pakistan’s leading milk brand Prema to provide an ultimate packaging solution for the brand’s premium fresh milk offering in the portion-sized segment, with Ecolean® Air 250ml, a startement said on Tuesday. Ecolean has recently extended its packaging facilities with a huge investment