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  • Ghandhara Nissan pays in yuan for Chinese imports

    May 9, 2018 12:00 AM 6

    KARACHI: Automaker Ghandhara Nissan Limited (GNL) imported three million yuan of trucks from China by settling the trade transaction in renminbi in its maiden deal with a Chinese bank based in Pakistan. Bank of China Limited Pakistan (ICBC), which opened the LC for truck imports from China. “We had a CNY (Chinese Yuan) LC established through ICBC during

  • Papco’s mogas pipeline to replace vehicular transportation

    May 9, 2018 12:00 AM 5

    KARACHI: A multi-grading white oil pipeline spreading over 784-kilometre is expected to be ready next year to supply motor gasoline in the upcountry amid a double-digit growth in demand of retail fuels, industry officials said on Tuesday. The officials said the multi-grading of the 784km white oil pipeline from Port Qasim to Mehmood Kot in Punjab would

  • Emirates introduces new service

    May 8, 2018 12:00 AM 2

    Dubai: Emirates has introduced Home Check-in, a new service, which allows customers to check in for their flights from anywhere in Dubai, a statement said on Monday. The service is available for customers across all classes travelling on Emirates flights, it added. The new service enables Emirates passengers to complete the security check and check-in

  • Wells Fargo to pay settlement charges

    May 6, 2018 12:00 AM 1

    New York: Scandal-plagued Wells Fargo said Friday it would pay $480 million to settle a lawsuit over alleged securities fraud. While the bank said it denies the claims in the suit over "misstatements and omissions" in disclosures about its sales practices, it agreed to pay the sum "to avoid the cost and disruption of further litigation." The deal is subject

  • Govt urged to solve importers’ concerns

    May 5, 2018 12:00 AM 5

    LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to address the reservations of commercial importers, a statement said on Friday. LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil said that the commercial importers are being treated under final tax regime

  • Engro Polymer attends ABAD expo

    May 5, 2018 12:00 AM 3

    KARACHI: Engro Polymers and Chemicals Limited (EPCL) recently sponsored and took part in Abad International Expo 2018, which is going on at the Pak-China Friendship Centre in Islamabad, a statement said on Friday. EPCL being one of the leading sponsors of the major event, had a dedicated area the “Engro Polymer Pavilion” at the expo in which they displayed

  • ‘French firms keen to invest in Pakistan’

    May 5, 2018 12:00 AM 7

    KARACHI: French companies are interested to invest in different sectors of Pakistan, a diplomat said. Talking to newsmen at a reception hosted for the Swiss Consul General in Karachi by Beach Luxury Hotel on Thursday night, French Consul General Didier Talpain expressed satisfaction over the law and order situation in the city and described it a good place

  • Australia’s trade surplus swells

    May 4, 2018 12:00 AM 3

    SYDNEY: Australia´s trade surplus swelled to a 10-month peak in March as resource exports boasted a bumper run, suggesting the economy sprang ahead in the first quarter after a disappointing end to last year. Thursday´s batch of data from the Australian Bureau of Statistics also showed approvals to build new houses hit a three-year high in March and rapid

  • AIG profit falls 21pc on lower yields

    May 4, 2018 12:00 AM 3

    NEW YORK: American International Group Inc reported a 21 percent decline in first-quarter profit on Wednesday, due to higher catastrophe and bad weather claims, as well as weaker investment income. The insurer posted $938 million, or $1.01 per share, in net income for the first quarter, down from $1.2 billion, or $1.18 per share in the same period a year earlier

  • POGEE 2018 from May 10

    May 4, 2018 12:00 AM 4

    KARACHI: Over 300 exhibitors from 30 different countries would participate in the international exhibition for oil, gas and energy industry, POGEE-2018, which is scheduled to be held from May 10 to 12, at Expo Centre, Lahore, a statement said on Thursday. Exhibitors from China, Germany, Italy, Canada, Austria, Egypt, France, Hong Kong, Bahrain, Switzerland