Saturday, 16 December 2017

Business

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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Asia markets track global surge as Trump fears ease

HONG KONG: Asian equities soared Thursday, joining a goldrush across world markets as the initial shock of Donald Trump s election win was replaced by hopes his plan to kickstart the US economy will succeed. Trading floors were awash in red Wednesday as the region s investors were the first to react ...

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Pakistan First electric vehicle charging station launched

LAHORE: Dewan Motors on Tuesday inaugurated Pakistan’s first public charging station for electric vehicles and plug-in hybrid electric vehicles at the Emporium Mall in the provincial capital. Foreseeing the growth potential of plug-in hybrid and electric vehicles in the country, Dewan Motors took the first step towards electric mobility in ...

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India scraps 500 and 1,000 rupee bank notes overnight

DEHLI: Indian Prime Minister Narendra Modi has announced that the 500 ($7.60) and 1,000 rupee banknotes will be withdrawn from the financial system overnight. The surprise move, announced on Tuesday evening, is part of a crackdown on corruption and illegal cash holdings. Banks will be closed on Wednesday and ATM ...

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