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  • MUFG 6-month profit jumps

    November 15, 2017 12:00 AM 10

    TOKYO: Mitsubishi UFJ Financial Group (MUFG) on Tuesday reported a 27.8 percent rise in net profit for the six months ended September, as smaller bad loan costs and gains from selling equity holdings helped offset a weak lending business. Japan´s largest lender by assets said its net profit came in at 626.9 billion yen ($5.5 billion) for the April-September

  • Chinese traders visit LCCI

    November 15, 2017 12:00 AM 11

    LAHORE: Pakistan and China are excellent neighbours and have emerged as exemplary trading partners. LCCI acting president Zeeshan Khalil stated this, while talking to a high-powered Chinese delegation, led by Song, at the Lahore Chamber of Commerce and Industry (LCCI), a statement said on Tuesday. The LCCI will extend all kinds of support and cooperation

  • Kuwait banks told to examine Saudi accounts

    November 14, 2017 12:00 AM 5

    KUWAIT CITY/DUBAI: Kuwaiti banks have been told by the central bank to provide account details relating to some Saudi Arabian nationals, sources familiar with the situation told Reuters on Monday. The move follows the freezing of more than 2,000 domestic bank accounts in Saudi Arabia after the detention of senior business figures and officials in a campaign

  • Cotton import concessions sought

    November 11, 2017 12:00 AM 8

    LAHORE: All Pakistan Textile Mills Association (APTMA) on Friday urged the government to immediately withdraw 4 percent customs duty, 5 percent sales tax, and non-tariff restrictions on the import of cotton to help the sector keep its export commitments. “Textile industry is in tight spot due to the prevalent cotton situation and warrants the government

  • Engro Vopak celebrates 20 years

    November 11, 2017 12:00 AM 10

    KARACHI: Engro Vopak Terminal Limited – a joint venture of Engro and Royal Vopak of The Netherlands – celebrated 20 years of operations in Pakistan, a statement said on Friday. Engro Vopak terminal was graced by a visit of senior delegates from Royal Vopak, comprising Eelco Hoekstra – chairman of the executive board and CEO of Royal Vopak, and other

  • PFA reaffirms quality of Haleeb

    November 11, 2017 12:00 AM 12

    KARACHI: Based on comprehensive tests carried out by two independent international food testing laboratories at the behest of the Punjab Food Authority (PFA), Haleeb’s UHT treated packaged milk was declared meeting the specified quality standards; thereby, negating all baseless rumours of recent months about its quality, a statement said on Friday. Haleeb’s

  • Weekly inflation increases 0.12pc

    November 11, 2017 12:00 AM 15

    ISLAMABAD: The sensitive price indicator (SPI)-based inflation for the week ended November 9 for the combined income groups increased 0.12 percent as compared to the previous week, the latest data released by the Pakistan Bureau of Statistics (PBS) said on Friday. SPI for the week under review in the abovementioned group was recorded at 227.81 points

  • Bank Alfalah, Mastercard join hands

    November 10, 2017 12:00 AM 14

    KARACHI: Mastercard, a leading technology company in the global payments industry, has collaborated with Bank Alfalah Limited (BAFL) to enable its ‘Masterpass QR’ service on the bank’s dedicated mobile banking app ‘Alfa’, a handout said on Thursday. “The cost-effectiveness of Masterpass QR coupled with its simplicity and convenience has made it a popular

  • OPPO-F5 launched strengthens its position in Pakistani market

    November 10, 2017 12:00 AM 15

    Lahore: OPPO Mobiles, The Selfie Expert and Leader, launched their brand-new offering OPPO F5 today in Pakistan. On the sidelines of this event, OPPO announced a new brand slogan - ‘The Selfie expert and leader’ consistent with its accomplishments in the Pakistan market. With its presence in 30 Global Market places, now OPPO products and services are appreciated

  • Remittances rise to $6.44bln in July-Oct

    November 10, 2017 12:00 AM 10

    KARACHI: Remittances grew 2.2 percent to $6.44 billion in the first four months of the current fiscal 2017/18, the central bank said on Thursday. Overseas Pakistanis remitted $6.3 billion in the July-October period of the last fiscal year, the State Bank of Pakistan (SBP) said. Workers’ remittances amounted to $1654.45 million in October, depicting a rise of 28 percent