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DG Khan Cement to export cement to Philippines
Companies

DG Khan Cement to export cement to Philippines

  • The latest export orders would be boon for Pakistan exports, which has declined by 6.8 percent during 2019-20, due to the economic slowdown which has been brought in by the coronavirus pandemic.
Published Jul 08, 2020 12:57pm
Russia's Rosneft to buy a drilling business from IDS
Companies

Russia's Rosneft to buy a drilling business from IDS

  • The letter said Rosneft, using its Intellektualnye Sistemy affiliate, would take over or merge with telemetry specialist IDS Navigator.
  • Neither the letter nor the sources said how much the IDS Navigator business will cost or how Rosneft plans to pay for it.
Published Jul 07, 2020 05:12pm
Siemens sees up to 20pc drop in business in April-June quarter
Companies

Siemens sees up to 20pc drop in business in April-June quarter

  • "Will be a big challenge for us, as for most other market participants as well" due to the coronavirus crisis.
  • It will not be a bottomless fall," he said, adding that the business volume of short-cycle activities had likely contracted by between 10% and 20% in the period.
Published Jul 04, 2020 07:49pm
Shell CEO does not rule out moving headquarters to Britain
Companies

Shell CEO does not rule out moving headquarters to Britain

  • Anglo-Dutch consumer products giant Unilever said last month it plans to ditch its dual Anglo-Dutch legal structure and create a single entity in Britain.
  • Unilever's decision to move followed the scrapping in 2018 of a plan by Dutch Prime Minister Mark Rutte to do away with a 15% dividend withholding tax.
Published Jul 04, 2020 05:34pm
Italian prosecutor says Eni, Shell aware of bribes in Nigeria case
Companies

Italian prosecutor says Eni, Shell aware of bribes in Nigeria case

  • "They were kickbacks. And Eni and Shell knew it," Sergio Spadaro told judges in Milan, summing up the prosecutors' case in what is one of the industry's largest corruption scandals.
  • Italy's Eni and Shell, who deny any wrongdoing, acquired the OPL 245 offshore field in 2011 for about $1.3 billion from Malabu.
Published Jul 03, 2020 05:23pm
Shipping firm CMA CGM to impose emergency surcharge at Cape Town port
Companies

Shipping firm CMA CGM to impose emergency surcharge at Cape Town port

  • From July 1 until further notice, it will impose a surcharge of $550 for 20-foot containers and reefers and a $1,100 surcharge for 40-foot containers and reefers.
  • Port congestion at Cape Town is currently increasing our operational costs and generating severe service disruption for weeks.
Published Jun 30, 2020 06:09pm
Indus Motor Company appoints Mohamed Ali R. Habib as Chairman
Companies

Indus Motor Company appoints Mohamed Ali R. Habib as Chairman

  • Furthermore, the IMC Board also appointed Muhammad Hyder Habib as Director with effect from June 26, 2020, to fill the casual vacancy in place of Ali S. Habib.

  • The Board also appointed Noriaki Kurokawa as director to fill the casual vacancy in place of Tadao Nasu.

Updated Jun 30, 2020 03:33pm