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Jumei International Holdings rejects allegations of smuggling

CHINA: Jumei International Holdings Ltd is recently refuted in a rumor that it has been involved in smuggling however, despite of having these allegations just rumors, analysts say that this rumor have already left a negative impact on the company’s reputation and future growth prospects. Jumei’s CEO Chen Ou fought back on Sina Weibo on Tuesday against allegations made in a statement, which ... Read More »

SHC extends stay order against construction of nuclear plants

KARACHI: A Sindh High Court (SHC) bench, headed by its Chief Justice Maqbool Baqar, granted extension in a stay order already issued against the construction of two nuclear power plants – K-II and K-III till November 12. The Pakistan Atomic Energy Commission requested the court to allow construction to begin, claimed that the stay order was losses to the tune ... Read More »

Kh Asif sheds light on Chinese investment, projects

ISLAMABAD: Federal Minister for Water and Power Khawaja Asif said that China intends to invest 34 billion dollars in Pakistan as Foreign Direct Investment (FDI) and not as a loan. “Chinese companies aim to invest $34 billion in different projects, while Chinese banks EXIM and China Development Bank would finance these companies,” Asif said while addressing a press conference called ... Read More »

Allegations against Customs & IR officers: FBR begins proceedings against 210 babus

ISLAMABAD: The Federal Board of Revenue has initiated disciplinary proceedings against more 200 officers belong to both the Customs and Inland Revenue groups on charges of flouting rules and regulations and corruption allegations. The step is part of the well thought out plan to transform the FBR into an ideal and vibrant institution, said FBR Member (Admin) Shahid Hussain Jatoi. ... Read More »