Saturday, 23 June 2018

Business

China, Pakistan extend currency swap agreement

BEIJING: China has increased the size of a currency swap agreement with Pakistan by 10 billion yuan ($1.57 billion), two sources of SBP said on Thursday, with cash earmarked for boosting fast-depleting foreign currency reserves. Two State Bank of Pakistan (SBP) sources told Reuters that the currency swap agreement between ...

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Sony buys controlling stake in EMI

LONDON: Sony says it has agreed to buy a controlling stake in EMI Music Publishing for $2.3bn (£1.71bn) as it looks to boost its music portfolio. The deal would mean Sony would indirectly own about 90% of the firm and its some two million songs by artists from Queen and ...

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WhatsApp Bug Allows Blocked Users to Send Messages

LONDON: Latest critical WhatsApp bug has been discovered, that makes users uncomfortable and worried. This latest WhatsApp bug allows blocked users to send messages to the people who blocked them in the first place. While WhatsApp has not publicized the issue and did not take any step to fix it ...

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UK-Pakistan trade increases to £1.93b

LONDON: The merchandise trade volume between Pakistan and the United Kingdom during the calendar year 2017 has increased to over £ 1.93 billion showing an increase of 8 percent when compared to 2016, Commercial Counsellor Pakistan High Commission London, Sajid Mehmood Raja, said. “During the year 2017 Pakistan’s total exports ...

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Marks and Spencer to shut more than 100 stores

LONDON: British food-to-clothing retailer Marks and Spencer will shut more than 100 “underperforming” UK stores in an ongoing restructuring, it said on Tuesday. The high-street chain has expanded its closure plans as it aims to shift at least a third of sales online, the group announced in a statement. The London-listed ...

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Restaurant gets CCP notice for falsely selling Starbucks coffee

LONDON: The CCP has issued a show cause notice to Options International Limited for, prima facie, fraudulently selling “Starbucks” coffee in Pakistan. Starbucks, an international chain of coffeehouses registered in the State of Washington, sent a formal complaint to the CCP that Options restaurant, was fraudulently using its official trademark, ...

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Mark Zuckerberg apologises to EU lawmakers over data leak

BRUSSELS: Facebook CEO Mark Zuckerberg apologised to European Union lawmakers on Tuesday for a massive data leak, in his latest attempt to draw a line under a scandal that has rocked the world’s biggest social media network. Zuckerberg agreed to meet leaders of the European Parliament to answer questions about ...

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PIA invites Royal couple to visit Pakistan

LONDON: Pakistan International Airlines (PIA) has invited Britain’s Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex to visit the northern areas of Pakistan. The national Airline posted a picture of Princess Diana on its Twitter handle, during her visit to the northern areas of Pakistan and requested the ...

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Asian markets rise as China and US agree to avert trade war

BEIJING: Asian markets rallied Monday and the dollar extended gains after the US and China said they had agreed to hold off imposing tariffs, averting a potentially damaging trade war . After high-level talks in Washington the two economic superpowers revealed a deal had been hammered out, ending months of ...

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