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  • US trade team holds B2B meetings

    November 15, 2018 12:00 AM

    LAHORE: An 11-member delegation of US businessmen, led by the Mayor of Bolingbrook (USA) Roger C Claar, held B2B meetings with their Pakistani counterparts to ensure strong sector-specific liaison, a statement said on Wednesday. “It is a good opportunity to know each other,” the Claar said, adding that the private sectors of US and Pakistan can take the mutual

  • PTCL, Convo Corporation sign deal

    November 15, 2018 12:00 AM 2

    KARACHI: Pakistan Telecommunications Company Limited (PTCL) has signed a memorandum of understanding (MoU) with Convo Corporation to boost up productivity of employees, a statement said on Wednesday. The Convo Corporation is a leader in Enterprise Social Collaboration Platforms based out of Silicon Valley, it added. This partnership aims at bringing

  • ‘Sindh holds key to energy solutions’

    November 14, 2018 12:00 AM 2

    Karachi: Sindh Energy Minister Imtiaz Ahmed Shaikh said Sindh holds the key to Pakistan’s energy crisis, and a project of 330MW will be inaugurated in January next year. Addressing a gathering at Korangi Association of Trade and Industry (KATI) on Tuesday, the minister said Sindh government’s 60 proposed power projects were pending with the federal government

  • FBR presents audit closure options

    November 14, 2018 12:00 AM 1

    Karachi: The Federal Board of Revenue (FBR) on Tuesday allowed conditional closure of audit proceedings of the taxpayers, who were automatically selected for non-compliance or late filing of income tax returns. The FBR gave options to the taxpayers, who are facing audit proceedings for having filed their tax returns after due date, a statement said. The FBR is facing

  • ECC allows Rs36bln financing for circular debt

    November 13, 2018 12:00 AM 2

    ISLAMABAD: Government on Monday allowed the ministry of energy to secure around Rs36 billion from a syndicate of banks to defray power sector’s outstanding payments that reawakened the energy woes. Finance Minister Asad Umar took the decision at a meeting of the Economic Coordination Committee (ECC) of the Cabinet. “The ECC considered and approved the proposal

  • Emirates unveils biometric path

    November 11, 2018 12:00 AM 5

    KARACHI: Emirates is gearing up to launch the world’s first “biometric path”, which will offer its customers a smooth and truly seamless airport journey at the airline’s hub in the Dubai International Airport, a statement said on Saturday. Utilising the latest biometric technology – a mix of facial and iris recognition, Emirates passengers can soon check

  • US, China meet to explore trade path

    November 10, 2018 12:00 AM 7

    Washington: The United States and China resume top-level talks on Friday after months of spiraling tension, looking to see if they can find a way forward on disputes from trade to military friction. Friday´s delayed meeting in Washington comes weeks before US leader Donald Trump is expected to meet his Chinese counterpart Xi Jinping on the sidelines

  • Allianz upbeat after profit jumps

    November 10, 2018 12:00 AM 10

    Frankfurt: German insurance giant Allianz on Friday confirmed its full-year outlook after a "strong" third quarter boosted by lower claims for natural disasters. Net profit attributable to shareholders at the Munich-based group climbed 24 percent to 1.9 billion billion euros ($2.2 billion) between July and September year-on-year, beating analyst expectations

  • Amreli Steels unveils Rs6.5bln investment plan

    November 10, 2018 12:00 AM 5

    KARACHI: Amreli Steels Limited on Friday unveiled Rs6.5 billion of investment plan to bring a significant 80 percent increase in reinforcing bar manufacturing. The company’s board approved third phase of expansion plan to set up an additional state-of-the-art rolling mill using pioneering technology at Dhabeji to further expand its rebar manufacturing

  • Remittances rise 15.14 percent

    November 10, 2018 12:00 AM 6

    KARACHI: The amount of money sent home by overseas Pakistanis increased to 15.14 percent in the first four months of current fiscal year over the same period last year, data released by State Bank of Pakistan (SBP) showed on Friday. Remittances totaled $7.419 billion in July-October 2018/19, compared with $6.444 billion during the corresponding period