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Prosecutors request arrest of Samsung heir, bribery suspect

Prosecutors requested the arrest Monday of the Samsung heir Lee Jae-yong as a bribery suspect in the influence-peddling scandal that led to the impeachment of South Korea’s president. The special prosecutors office said it had ask the court to approve a warrant for the arrest of Lee, the 48-year-old Samsung ...

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Toyota to put $10b into US over 5 years

Toyota Motor Corp. will invest $10bn in the United States over the next five years, its president, Akio Toyoda, announced at a Detroit auto show last Monday. The announcement came days after US President elect Donald Trump criticised Toyota’s plan to build a new factory in Mexico and expressed his ...

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Small investors’ share in IPOs

With the stock market flooded with liquidity, investor appetite for Initial Public Offerings seems to be insatiable. The fierce bull run that has seen stock prices of ‘blue chips’ multiply to their re-rated values since November last year, makes it all the more necessary to persuade big profitable companies to ...

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Sindh: dusting off the cobwebs

Sindh’s new leadership has galvanised the provincial bureaucracy, linking competence with responsibility and sidelining inefficient/corrupt officials. How fast this will translate into economic success, however, will depend on how quickly Sindh earns the confidence of reluctant private investors who are shy to lock their capital in a province perceived to ...

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Breathing space for exporters

The Rs180bn stimulus for the five major manufactured goods exports textiles, leather, sports goods, carpets and surgical instruments should shore up the country’s dwindling export earnings, reward value added industries and boost the companies’ profitability. The Nawaz Sharif government has stitched together the 18-month package to partially compensate exporters of ...

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Gas crisis worsens in Punjab

LAHORE: Gas crisis worsened in Punjab on Sunday after the shortfall surged to 400MMCFD, forcing the Sui Northern Gas Pipelines (SNGPL) to divert to the domestic sector a supply of about 275MMCFD, out of over 400MMCFD liquefied natural gas (LNG) meant for the industrial, power and CNG sectors. Although the ...

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Govt revises fuel prices for next two weeks, petrol hikes by Rs1.77 per litre

The federal government revised the prices of petroleum products for the next fortnight, Radio Pakistan reported Sunday. Finance Minister Ishaq Dar addressed a press conference in Islamabad, saying that the prices of light diesel oil and kerosene will remain intact, beginning tomorrow till Jan 31. He said the price of ...

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Mahatma Gandhi will disappear from currency notes: Haryana minister

Haryana minister Anil Vij has kicked up another storm before the dust settled on a decision to replace Mahatma Gandhi with Indian Prime Minister Narendra Modi as the 2017 face of the government’s traditional handloom and cotton industry. “Ever since Mahatma Gandhi’s name has been on the rupee note, it ...

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Sony Entertainment CEO exiting for a top role at Snap

Sony Entertainment Chief Executive Michael Lynton will step down to become chairman of the board of messaging app owner Snap Inc, a move that puts an experienced Hollywood executive in a prominent role as the technology company prepares for an initial public offering. Lynton will give up his current position ...

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How an EU gender equality ruling widened inequality

In December 2012 the EU introduced controversial new rules insisting that car insurance companies no longer discriminate on the basis of gender. Until then, men were being routinely charged more than women, but after the European Court of Justice ruled that different premiums for men and women purely on the ...

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