Sunday, 23 April 2017

Business

Start of trade through CPEC excites businessmen

LAHORE – Following the start of trade through Gwadar Port under the China-Pakistan Economic Corridor (CPEC) project, the business community, while showing its excitement, has said the dream has come true and the country has taken a giant leap towards economic stability. Lahore Chamber of Commerce & Industry (LCCI) President ...

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Modi promises to ease cash crunch

NEW DELHI: PM Modi urged Indians to give him more time to resolve a cash crunch that followed the withdrawal of high-value banknotes from circulation, as rival politicians lashed out at his handling of the crisis. His comments came as the government said it was increasing a weekly cash withdrawal ...

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RBS chairman calls for transitional Brexit deal for banks

LONDON: The chairman of RBS, Sir Howard Davies, has backed calls for a transitional deal with Europe when Britain leaves the union, warning of the risk to banks if they swiftly lost access to the single market and passporting rights. “I think it is damaging if we don’t get a ...

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First Hyatt-branded hotels now in Pakistan

ABU DHABI: Hyatt Hotels Corporation & Bahria Town, Asia’s largest real estate developer, signed an historic agreement in Abu Dhabi to develop four new signature resort properties across Pakistan. With an investment of over $600 million, these projects are set to revolutionise the hospitality industry of Pakistan and provide much ...

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Trade caravan from China reaches Pakistan through CPEC route

GWADAR: The caravan consisted of 50 trucks travelling through Khunjerab amid strict security by the Pakistan Army. The Chinese goods will be exported to different countries through the Gwadar port. The caravan left China on October 31 and reached Gwadar in 11 days – a journey which would otherwise have ...

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Iran signs major gas deal with France´s Total

TEHRAN: Iran signed a deal with France’s Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since sanctions were loosened in January. Total will lead a consortium also including China National Petroleum Corporation (CNPC) and Iran’s Petropars to develop Phase 11 ...

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Tesco Bank Freezes Transactions After Security Breach

LONDON: The attack, which is one of the biggest of its kind ever to occur in the UK, affected around 40,000 accounts with money being stolen from 20,000 and “suspicious activity” reported in the remaining half. In response, Tesco Bank issued an apology to affected customers and have temporarily frozen ...

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US buyers may flock to London property after Trump win

LONDON: Property pundits have forecast there could be greater demand for UK housing from US and other international buyers following Trump’s election victory. While some have argued that global stock market volatility on the back of the Republican’s win could dent the confidence of UK homebuyers, others suggest that US ...

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Judge orders Amazon refunds for children’s in-app purchases

NEW YORK: Thursday directed Amazon Inc to set up a year-long process to reimburse parents whose children made in-app purchases without permission, but rejected a U.S. regulator’s request for a $26.5 million lump-sum payout. U.S. District Judge John Coughenour, in Amazon’s hometown of Seattle, issued his order more than six ...

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Oil down on knife-edge US vote

SINGAPORE: Oil prices were down in Asian trade Wednesday as early US presidential election results indicate a knife-edge outcome, with market favourite Hillary Clinton struggling in key battleground states. Analysts warned it is still too early to predict a winner, despite a strong showing by Donald Trump, with several states ...

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