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04:31 Growth improves, but targets missed

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  • US Embassy leads Pakistani delegation to Franchise Expo

    June 15, 2017 11:53 PM 4

    The US Commercial Service (USCS) is leading this week a delegation of Pakistani companies from Karachi, Islamabad and Mirpur to the International Franchise Expo 2017, in New York, USA. The expo is the largest franchise expo in the United States, and runs from June 15-17. More than 400 exhibitors, including leading US franchise concepts in a variety of sectors

  • Prices of fruits, vegetables remain stable

    June 15, 2017 11:53 PM 3

    The prices of fruits and vegetables overall remained stable after minor fluctuation in price of some items in the federal capital here on Thursday. According to the Islamabad Market Committee Price List issued here, the prices of various fruits and vegetables showed no major difference from the price list of the previous week. According to price list, potato

  • CBOT soybeans close firm on NOPA report

    June 15, 2017 6:30 PM 2

    USA-SOYBEANS/CBOT (URGENT, TABLE):CBOT soybeans close firm on NOPA report CHICAGO, June 15 (Reuters) - Chicago Board of Trade soybean futures rose on Thursday, supported by a better-than-expected crushing report, traders said. * Soyoil futures also rose, hitting their highest since May 23, on support from the crush report as well as technical buying

  • SBP grants approval for NIB Bank’s merger with MCB

    June 15, 2017 3:24 AM 5

    LAHORE: The State Bank of Pakistan (SBP) has granted approval for the merger/amalgamation of NIB Bank Limited with MCB Bank Limited. The merger/amalgamation of the two banks is taking place through a share swap arrangement whereby one share of MCB Bank will be issued for every 140.043 shares of NIB Bank. The shareholders of NIB Bank will be entitled

  • Pakistani rickshaws make their way into Japan

    June 15, 2017 3:12 AM 4 1

    ISLAMABAD: Japan has traditionally been a major market for car buyers, but things are looking up for Pakistan as a local company has started exporting its three-wheeler rickshaws to the country. Sazgar Engineering, a manufacturer of 4-stroke CNG auto rickshaws, has been exporting its rickshaws to Japanese markets. Despite a strong industrial base and a thriving

  • SBP approves NIB Bank’s merger with MCB

    June 15, 2017 12:37 AM 4

    LAHORE: The State Bank of Pakistan (SBP) has granted approval for the merger/amalgamation of NIB Bank Limited with and into MCB Bank Limited. SBP, through its order dated 13th June 2017, has sanctioned the Scheme of Amalgamation of NIB Bank with and into MCB Bank in terms of sub-section (4) of Section 48 of the Banking Companies Ordinance, 1962. This approval

  • Eurozone industrial production rises in April

    June 15, 2017 12:08 AM 3

    The April industrial production in the eurozone rose as expected, a sign that eurozone’s recovery has continued into the second quarter. The European Union’s official statistics agency said on Wednesday the eurozone’s industrial output rose by 0.5 percent from March, and 1.4 percent from April 2016. The monthly increase is mainly due to production of energy

  • Finance discipline restricts supplementary demand of grants: Dar

    June 15, 2017 12:00 AM 4

    ISLAMABAD: Finance Minister Ishaq Dar on Wednesday told the National Assembly that the financial discipline maintained by the government helped in reducing the regular supplementary demands for grants to Rs121 billion during the financial year of 2016/17 from more than one trillion rupees four years back. The National Assembly approved 124 supplementary

  • Woman sues Delta Airlines after being groped by self-pleasuring man

    June 14, 2017 1:47 PM 6 1

    A woman has filed a $10 million lawsuit against Delta Airlines after claiming that a man sexually assaulted her when he was caught pleasuring himself on a flight, according to Michigan Live. Rhonda Costigan, a waitress living in Michigan, was flying home to South Carolina with her 15-year-old daughter following a cheerleader competition on July 27 last year when the incident

  • Toshiba memory unit drama alert: SK Hynix chips into Japanese consortium bid

    June 14, 2017 11:05 AM 2

    Korean chipper SK Hynix is joining a Japanese state fund-led consortium to bid for Toshiba's memory business, and WDC could be out. The background to this bewildering and lightning fast game of musical chairs is that Toshiba is selling its NAND chip and SSD-making unit for at least ¥2tn ($18bn) to recover from cost overruns at its bankrupt Westinghouse