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Tag Archives: Business

US-Turkey relations enter crisis mode as Trump doubles tariffs

US Turkey

Donald Trump doubles Turkey tariffs ‘against World Trade Organisation rules’ as lira falls by 20% US President Donald Trump imposed higher tariffs on metal imports from Turkey, sending the country’s lira currency to a new record low. Trump doubled the U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively. Due to this harsh move, the Turkish ... Read More »

Dubai’s Al Futtaim to establish Renault car plant in Faisalabad

Renault car

Al-Futtaim Group, one of the biggest conglomerates of the United Arab Emirates, has acquired an industrial plot for setting up an automotive plant for the manufacturing and assembly of Renault vehicles in Pakistan. The facility will be set up at M-3 Industrial City in Special Economic Zone Faisalabad. “Al-Futtaim is fully committed to the Pakistani market and to this project,” ... Read More »

Alibaba Group enters Pakistan’s ecommerce market with Daraz acquisition

Alibaba all set to enter Pakistan after signing first MoU

Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz Alibaba, the Chinese technology group, has expanded its e-commerce business into South Asia by buying Daraz, the Pakistani online shopping business started by the German company Rocket Internet. Daraz, founded in 2012, is backed by European tech incubator Rocket Internet. It operates in Bangladesh, Myanmar, Sri Lanka and Nepal ... Read More »

CCI Pakistan opens $45m Greenfield bottling plant

CCI Pakistan opens $45m Greenfield bottling plant

CCI has invested more than $500 million in its business in Pakistan since 2008, doubling its market share. CCI Pakistan, Coca-Cola’s bottler in Pakistan inaugurated its Greenfield bottling plant in Faisalabad. CCI Pakistan is a subsidiary of Coca-Cola İçecek (CCI), headquartered in Turkey, the sixth-largest bottler in the Coca-Cola system globally. Set up with an investment of US$ 45 million, ... Read More »

Pakistan, China sign executive programme of cultural agreement

Agreement to promote cultural exchanges and determination of Belt and Road Initiative Pakistan and China have signed Executive Programme of Cultural Agreement for further consolidating cultural relations and promoting people-to-people contacts between the two states. According to the agreement, Pakistan and China would mutually cooperate to develop and promote Film and Broadcasting, Arts and Culture, Information and Investigation, Press and ... Read More »

Bitcoin plunges below $6,000, lowest in last three months

Bitcoin plunges below $6,000, lowest in last three months

Some technical indicators suggest the rout in bitcoin has further to go The digital cryptocurrency Bitcoin fell more than 15 percent on to sending to its lowest level since November ranging from a global regulatory clampdown. On the Luxembourg-based Bitstamp exchange, Bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked a fall of more ... Read More »

PTCL injects PKR 1 Billion in U-Microfinance Bank

PTCL injects PKR 1 Billion in U-Microfinance Bank

U Bank serves more than 625,000 customers, where 30% of the served customers are women Pakistan Telecommunication Company Limited (PTCL) has injected an additional equity of PKR 1 billion in U Microfinance Bank Ltd. (U Bank), which is a wholly owned subsidiary of PTCL. This capital injection will enable the Bank to further capitalize on the growth opportunities possible in ... Read More »

Toyota planning 10 purely electric vehicles by early 2020s

Toyota’s EVs will also later be offered in Japan, India, the US and Europe Toyota plans to offer more than 10 purely electric vehicle models in its lineup by the early 2020s, marking the Japanese automaker’s commitment to that growing technology sector. By introducing hybrid, plug-in hybrid, and pure electric and fuel-cell hydrogen power trains in various models which is ... Read More »

How to avoid getting hacked at the ATM

Don’t become a victim of ATM skimming, here’s what you need to know Around 600 customers have lost at least Rs 10 million in Pakistan, becoming the victim of Automated Teller Machine (ATM) skimming fraud. The affected bank, Habib Bank Pvt Ltd, confirmed that skimming devices were installed on 10 ATMs in Islamabad and Karachi. Soon after, the bank block all ... Read More »

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