Finnish company decides to quit Pakistan on July 27, 2017KARACHI: The Finnish company Stora Enso on Wednesday decided to divest its holding in Bulleh Shah Packaging (BSP) in Pakistan, citing that company’s asset base in Pakistan with its product mix and related future outlook has become a non-strategic fit in the Stora Enso’s consumer board portfolio due to changed global growth outlook. Stora Enso […]
Swiss telecom company likely to enter Pakistan on July 21, 2017KARACHI: The Global Message Services (GMS) AG, a telecommunication services provider in Switzerland, is likely to enter the Pakistan’s telecom market within few months, it is learnt. In this regard, a delegation of the company led by its president and Chief Executive Officer (CEO) Iurii Makeranko recently visited Pakistan to explore good business opportunities, especially […]
NASA releases three worldwide crowdsource challenges on July 21, 2017KARACHI: Freelancer.com and NASA’s Center of Excellence for Collaborative Innovation (CoECI), through the NASA Tournament Lab (NTL), have released the latest in a series of challenges to crowdsource solutions for new capabilities for space exploration. According to NASA, out of over 24 million users worldwide on Freelancer.com, over 900,000 users come from Pakistan; which consist […]
Govt institutions availing telecom services from private operators without NOC on July 13, 2017KARACHI: Different government organizations/institutions are availing telecom services (voice/data) from private operators without obtaining NOC from National Telecommunication Corporation (NTC) which may lead to serious breach of information and compromise national interest, Daily Times learnt. NTC said if telecommunication services from private operators are obtained which however may look attractive due to various packages but […]
Trade deficit surges to $32b during PML-N rule on July 12, 2017KARACHI: The country’s trade deficit surged to a record $32.6 billion in fiscal year 2016-17 (FY17) as imports outpaced exports significantly, official data released on Tuesday showed. The $32.6 billion deficit in FY17 was the highest ever in Pakistan’s history, whereas, during the five years’ tenure of Pakistan Muslim League (PML-N) the country’s annual trade […]
890 workers die in 5 years as power companies disobey safety code on July 11, 2017KARACHI: Adoption of safety codes and standards by power distribution companies in Pakistan remains low as 890 fatal accidents of employees and public occurred during last five years (2011-2016). The distribution licensees reported around 226 fatal accidents of employees and public occurred in the year 2014-15, showing an increase of 15 percent over the previous […]
Dawood Hercules to sell entire shareholding in Hubco on July 1, 2017KARACHI: In a major development, the Dawood Hercules Corporation Limited (DHCL) has decided to sell its entire 14.91 percent stake and transfer the management control of the Pakistan’s largest independent power producer Hub Power Company (Hubco) to a strategic buyer. DHCL is an investment holding company with diversified holdings in energy and foods. Company investments […]
Govts plan to pass on circular debt to consumers unacceptable on June 24, 2017KARACHI: Two of Pakistan’s biggest business associations, the Karachi Chamber of Commerce and Industry (KCCI) and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have categorically said that they will strongly oppose the government’s plan to pass the entire circular debt burden on to consumers. Before general election 2018, the government is considering […]
NTC slaps 24% anti-dumping duty on steel import from China on June 23, 2017KARACHI: Pakistan has slapped anti-dumping definitive duty of up to 24.04 percent on imports of billets from China to protect domestic producers from below-cost inbound shipments. On Thursday, the National Tariff Commission (NTC) communicated its final determination of anti-dumping duties on import of billets from China where it imposed definitive duty of 24.04 percent for […]
13 new cement plants in salt range pose threat to environment on June 16, 2017KARACHI: The Directorate General of Mines & Minerals is all set to conduct a study for the delineation of positive and negative areas for installation of thirteen (13) new cement plants in the salt range area to meet the demand of around 105Mt of cement in coming four years in wake of China-Pakistan Economic Corridor […]