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October 14, 2018 12:00 AM SoftBank picks 5 banks for IPO

TOKYO: SoftBank Group Corp has chosen five investment banks, including units of Nomura Holdings Inc and Goldman Sachs, as lead underwriters for the mammoth initial public offering of its mobile-phone unit, a person with direct knowledge of the matter said. The other institutions are Mizuho Financial Group Inc, Deutsche Bank AG and the SMBC Nikko Securities 4

October 4, 2018 12:00 AM Stocks led lower by weak auto shares

KARACHI: Stocks continued to fall for the third consecutive session on Wednesday, as blue-chip auto shares took a hit on government decision to bar non-filers from buying vehicles, dealers said. Analyst Ahsan Mehanti from Arif Habib Corporations said, “Bearish activity was witnessed at PSX after NA passed the Finance (Amendment) Bill restricting non-filers 2

October 2, 2018 12:00 AM NAB list of Dar’s properties: 17 out of 25 properties donated or sold out

ISLAMABAD: Seventeen out of a total of 25 properties of former finance minister Ishaq Dar which the National Accountability Bureau (NAB) wants to seize have either been donated or sold out by Dar. All of these properties were declared with the Federal Bureau of Revenue (FBR) along with the details of source of income to acquire them. Dar family shared 1

September 30, 2018 12:00 AM Tesla’s Musk may settle SEC lawsuit

SAN FRANCISCO: Tesla Inc’s Elon Musk could settle with U.S. regulators who have sued to remove him from the electric carmaker’s leadership, but he is prepared to fight the securities fraud lawsuit against him in court, sources said on Friday as shares plunged about 14 percent. Musk, Tesla’s chairman and chief executive, has been directly involved in almost

September 19, 2018 12:00 AM Clariant to form JV with SABIC

ZURICH: Switzerland´s Clariant will merge its high-performance materials business with that of new anchor shareholder Saudi Basic Industries Corporation (SABIC) to focus on higher-value specialty chemicals, it said on Tuesday. Under the terms of the deal, Clariant will hold a majority stake in the new combined business, which will bring together its Additives 4

September 18, 2018 12:00 AM As its trading debut looms, China’s Meituan locked in battle of super-apps

BEIJING/SHANGHAI: Meituan Dianping, which raised $4.2 billion in its Hong Kong IPO, is one of China’s super-apps, with 340 million users ordering groceries, paying bills, renting bikes and booking hotels - but it is far from alone. The delivery-to-ticketing platform, backed by internet giant Tencent Holdings Ltd, is squaring off with Alibaba Group Holding 5

September 11, 2018 12:00 AM Apple supplier shares slide after Trump tells tech giant to make products in US

TAIPEI: Shares of Apple Inc suppliers fell across Asia on Monday after U.S. President Donald Trump tweeted that the tech giant should make products in the United States if it wanted to avoid tariffs on Chinese imports. Trump’s comment came after Apple told U.S. trade officials on Friday that proposed tariffs by Washington in an escalating trade war with China 1

September 8, 2018 1:22 PM Murtaza Wahab concerned over unannounced closure of CNG stations in Sindh

KARACHI: Advisor to Sindh Chief Minister for Information and Archives, Anti Corruption and Law Barrister Murtaza Wahab has vehemently condemned the unannounced closure of CNG stations in Sindh province and termed it ‘failure of the federal government’. In a statement issued on Saturday, the advisor said common people of the province are facing serious 8

September 5, 2018 12:38 PM US State Dept spokeswoman shares pictures with Pakistani counterparts

ISLAMABAD: US State Department spokeswoman Heather Nauert has shared her pictures with officials of Pakistan's Foreign Office. The spokesperson is accompanied by US Secretary of State Mike Pompeo who is on a daylong official visit to Pakistan. Nauert took to Twitter on Wednesday to mention about her joyous experience after meeting the Pakistani officials

September 5, 2018 12:00 AM Microfinance sector registers modest growth

LAHORE: Microfinance sector of Pakistan has registered modest growth during the second quarter ended June 30, 2018 with 6.6 percent growth in overall gross loan portfolio (GLP) to Rs239 billion from the previous quarter of Rs224 billion. According to MicroWatch, a quarterly update on microfinance outreach in Pakistan released by Pakistan Microfinance 1