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February 19, 2018 4:56 AM US gun lovers defend rights amid debate for more restrictions

MIAMI: Pistols, rifles and ammunition are on display at a gun show in Miami, where Mike Vallone is buying an AR-15, a firearm at the centre of debate on gun control as the weapon of choice of several mass shooters. Why would the 55-year-old, who already owns about 50 guns, want another one? “Because I choose to own them. I have the constitutional right

February 16, 2018 12:00 AM Google’s app network quietly becomes huge growth engine

SAN FRANCISCO: Google makes ads show up in more smartphone apps than any other technology company. That is the core of a resurgent business for parent Alphabet Inc . Google´s ad network unit has posted three straight quarters of year-over-year double-digit sales increases. The business is nearing $20 billion in annual revenue, making it as important 3

February 15, 2018 12:00 AM SBP allows Islamic banks to offer long-term financing facility

KARACHI: The central bank on Wednesday allowed Islamic banks to offer long-term financing for plants and machinery to help improve their market share in the banking sector and give borrowers shariah-compliant alternatives. The State Bank of Pakistan (SBP) issued Islamic long-term financing facility (ILTFF) based on Mudarabah to provide shariah-compliant 2

February 13, 2018 12:00 AM Auto sales jump 22 percent in Jan to post biggest monthly increase

KARACHI: Sales of passenger cars posted their biggest ever monthly increase in January, as soft loans and a robust economy offset the impact of price increases due to recent rupee devaluation, analyst and industry officials said on Monday. Sales of passenger cars increased 22 percent to 23,562 units in January 2018 compared to 20,884 units sold in the same month 3

February 7, 2018 12:00 AM Byco brings five-time raise in gasoline production

KARACHI: Byco Petroleum Pakistan brought its gasoline output up five times to 1,500 tons/day as the company’s second unit started production. “At the current level of crude processing at the Byco oil refining complexes I and II i.e. 75,000 barrels/day, the cumulative motor gasoline production has increased five times from 300 tons/day to 1,500 tons/day 6

January 30, 2018 12:00 AM Ford China chief departs

BEIJING: Ford Motor Co said its China chief, Jason Luo, has stepped down after only five months at the helm for personal reasons, a sudden resignation that raises questions over how the automaker will best tackle a sales slump in the world´s biggest car market. Luo had been poached from Key Safety Systems, and it had been hoped that he would reprise 10

January 27, 2018 12:00 AM Lucky Cement profit declines

Net profit of Lucky Cement Limited declined by seven percent to Rs6.55 billion for the half-year ended December 31, 2017 translating into earnings per share (EPS) of Rs20.25, a company notification said. The company’s EPS was Rs21.76 in the half-year ended December 31, 2016. Lucky Cement’s gross sales revenue increased by 5.2 percent to Rs32.85 billion 4

January 26, 2018 1:19 AM Imports of used cars in Pakistan jump 70pc

KARACHI: Imports of used cars and minivans surged to 65,723 units in 2017, up almost 70 per cent from 38,676 units a year ago, latest data released by the auto industry shows. The arrival of sport utility vehicles (SUVs) also increased 59pc to 7,758 units. Imports of pickups and vans registered a 9pc rise to 3,154 units. The local industry maintains 3

January 20, 2018 12:00 AM Hinopak Motors earns profit

KARACHI: Hinopak Motors Limited earned a net profit of Rs191.324 million for the quarter ended December 31, 2017, which is 135 percent lower than the profit of Rs449.328 million during the same period of the last year, a statement said on Friday. The earnings / share (EPS) clocked in at Rs15.43 for the quarter under review as against EPS of Rs36.123 during 4

December 31, 2017 2:18 PM Petroleum products get pricier by 11.75pc ahead of new year

The federal government on Sunday increased the prices of petroleum products by up to 11.75 per cent for the month of January 2018, DawnNews reported. The announcement in this regard was made by Miftah Ismail, the newly appointed adviser to Prime Minister on Finance, while addressing a press conference in Islamabad. Petrol and high-speed diesel — the two most widely 1