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  • East Asian economies seen growing 5.4pc

    May 4, 2018 12:00 AM 3

    MANILA: East Asian economies are expected to grow faster than previously thought this year, the ASEAN+3 Macroeconomic Research Office (AMRO) said on Thursday, driven by strong domestic demand, solid exports and stable inflation. In its flagship report, AMRO forecast East Asia will expand 5.4 percent in 2018, up from its previous forecast of 5.1 percent

  • Amazon makes bid to spoil Walmart-Flipkart deal

    May 4, 2018 12:00 AM 3

    BENGALURU/MUMBAI: Amazon.com Inc has made a formal offer to buy 60 percent of Flipkart , CNBC-TV18 reported on Wednesday, potentially complicating Walmart Inc´s bid for majority ownership of the Indian online retailer. The news underscores how Amazon is focused on winning India´s fledgling e-commerce market, and the offer could be a ploy to block Walmart

  • ADB rules out need for IMF’s bailout money

    May 4, 2018 12:00 AM 5

    MANILA: Pakistan will probably not need bailout money from any international lender to tackle its deteriorating external account position as the country has options to raise funds from neighbouring China or from international capital market, a senior official at the Asian Development Bank (ADB) said on Thursday. “I don’t think current situation needs

  • Over 6,000 graduated in UOL’s 8th convocation

    May 3, 2018 12:00 AM 11

    LAHORE: Degrees, gold medals and awards were conferred upon as many as 6000+ graduates in the 8th (University of Lahore (UOL) Convocation held today at the Main campus of the University of Lahore, Lahore. The ceremony was marked with deep appreciation from teachers, parents, and friends, high motivation by the Mr. Awais Raoof (Chairman BOG-UOL), Mr. M.A Raoof

  • SoftBank’s CEO clinches biggest deal

    May 1, 2018 12:00 AM 6

    NEW YORK: SoftBank Group Corp CEO Masayoshi Son has made a name for himself as the ultimate dealmaker, raising almost $100 billion for investments with his Vision Fund. Yet after four years of haggling, he has scored his biggest deal by simply letting go. The agreement on Sunday to combine SoftBank´s Sprint Corp with Deutsche Telekom AG´s T-Mobile US Inc will create

  • StanChart launches global campaign

    May 1, 2018 12:00 AM 6

    KARACHI: Standard Chartered is launching a global campaign that takes its “Here for good” brand promise and poses a new tougher challenge: “Good enough will never change the world”, a statement said on Monday. Launched in 2010, “Here for good” showed how a bank could be a force for good by promoting economic activity that has a positive social impact

  • SAARC CCI appoints senior VP

    May 1, 2018 12:00 AM 9

    LAHORE: United Business Group (UBG) Chairman Iftikhar Ali Malik has been appointed as the Senior Vice President of the SAARC Chamber of Commerce and Industry (SAARC CCI). The unanimous decision was taken by President Ruwan Edirisinghe and all the Vice Presidents of SAARC CCI keeping in view his selfless services to bring the SAARC nations closer through

  • ADIA eyes renewable technologies

    May 1, 2018 12:00 AM 9

    DUBAI: Abu Dhabi Investment Authority (ADIA), the world´s third-biggest sovereign wealth fund, said it may invest more in renewable energy, as climate change fears prompt fund managers even in the oil-rich Middle East to look beyond fossil fuels. "The world´s energy industry is in the early stages of a fundamental shift from fossil fuels to a more sustainable

  • SNGPL’s profit falls to Rs5.98bln in July-March

    May 1, 2018 12:00 AM 8

    KARACHI: Profit of Sui Northern Gas Pipelines Limited (SNGPL) fell two percent to Rs5.98 billion during the July-March period, translating into earnings per share (EPS) of Rs9.43, a bourse filing said on Monday. SNGPL earned Rs6.10 billion in profit with EPS of Rs9.63 during the corresponding period a year earlier, the company said in a statement to Pakistan

  • FBR empowered to recover CGT on foreign transactions

    May 1, 2018 12:00 AM 7

    KARACHI: Government empowered the Federal Board of Revenue (FBR) to recover capital gains tax on transactions made abroad on assets located in Pakistan under a new law, officials said on Monday. “Any gain from disposal made outside Pakistan, of an asset located in Pakistan, shall be considered as Pakistan source income,” said an amendment introduced