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March 18, 2018 12:00 AM News of FTA with China creates stir in Pak local industry

ISLAMABAD: The news that Pakistan is all set to finalise modalities for extending Free Trade Agreement (FTA) with China by March 2018 has raised alarm bells in local industry. To assuage their fears Adviser to Prime Minister on Finance Affairs Miftah Ismail along with senior government officials met with the representatives of local industries on 15th March 1

March 18, 2018 12:00 AM S Africa credit downgrade may do less damage than feared

LONDON: South Africa will learn soon whether Cyril Ramaphosa´s first month as president has saved the country's last remaining investment grade rating, but even if it hasn´t, a broader rise in optimism should limit the damage. Moody´s, with a downgrade review on South Africa since last November, is to make a decision by March 23. A cut to junk - following

March 17, 2018 12:00 AM Swiss investors scoping Pakistani market: envoy

KARACHI: Didier Boschung, the consul general of Switzerland, on Friday said Swiss importers are seriously assessing Pakistani market for placing import orders. “Pakistan is one of the biggest markets for foreign investors,” Boschung said addressing the inauguration ceremony of 14th International Plastic, Printing and Packaging Exhibition being held at Expo Center

March 14, 2018 12:00 AM Sterling climbs after Hammond speech

LONDON: Sterling rose to a two-week high on Tuesday as the dollar sold off after data showed U.S. consumer price inflation in February cooled and President Donald Trump said he had fired U.S. Secretary of State Rex Tillerson. As the dollar began its sell-off, British Finance Minister Philip Hammond gave his half-yearly economic update on the economy 5

March 13, 2018 12:00 AM Aramco IPO delayed until 2019: report

London: The initial public offering of oil giant Saudi Aramco may be delayed until 2019 at the earliest, the Financial Times reported, citing British officials briefed on the matter. The IPO, potentially the largest stock sale ever, had been scheduled for the second half of 2018, amid efforts to select an international venue for its listing. FT on Sunday 10

March 9, 2018 12:00 AM PM’s aide Ali Jahangir appointed envoy to US

ISLAMABAD: Ali Jahangir Siddiqui, son of Jahangir Siddiqui who is the founder of the JS Group, has been appointed as Pakistan’s Ambassador to the US and will assume the charge next month upon the retirement of Aizaz Ahmed Chaudhry, Geo News quoted sources as saying. Ali Jahangir is currently PM’s Special Assistant with the status of Minister of State 9

March 7, 2018 12:00 AM Matco Foods, Chinese firm sign deal

KARACHI: Matco Foods Limited signed an agreement for the supply of 20,000 tons/annum rice glucose manufacturing plant with Beijing Meckey Engineering Co, a statement said on Tuesday. This new expansion will increase the total production capacity of the company to 30,000 tons rice glucose and 3,000 tons rice protein per annum, respectively. Khalid Ghori 17

March 6, 2018 12:00 AM Bank Al Baraka appoints new CEO

KARACHI: The chairman and board of directors of Al Baraka Bank (Pakistan) Ltd (ABPL) have appointed Ahmed Shuja Kidwai as chief executive officer of the bank with effect from March 1, 2018, a statement said on Monday. Kidwai is a seasoned banker with over 40 years of diversified experience in local, as well as international markets, it added. His association 11

March 2, 2018 12:00 AM SECP notifies draft Shariah Governance Regulations

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Thursday notified draft Shariah Governance Regulations, 2018, which is a comprehensive set of regulations for governance of Shariah-compliant companies and entities, securities and Islamic financial institutions under its jurisdiction, a statement said. This is for the first time that the apex regulator 10

February 27, 2018 12:00 AM Maldives team meets TDAP secretary

KARACHI: A two-member delegation of State Trade Organization (STO) of Maldives, which is on a four-day visit to Pakistan, called on Trade Develop Authority of Pakistan (TDAP) secretary on Monday and discussed their immediate procurement needs of pharma products from Pakistan, a statement said. The delegates informed the secretary that Maldives imported 9