DP WORLD rating upgraded by Fitch

Fitch Ratings has upgraded DP World’s Limited’s Long-Term Issuer Default Rating (IDR) to BBB+ from BBB and affirmed Short-Term IDR at F2. The rating outlook is stable. This follows on Fitch’s rating upgrade in August 2016 from BBB- to BBB and reflects DP World’s solid performance and stable cash flow generation.

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Philips Lighting continues to accelerate innovation and adoption of LED lighting

Philips Lighting (Euronext Amsterdam ticker: LIGHT), a global leader in lighting, continues to push the boundaries of LED lighting innovations at the 8th IEEEP Trade fair and Conference taking place August 1 through 3, 2017 in Expo Center Karachi. The company is introducing new offerings designed to help reduce energy and operating costs, improve eye comfort and space utilization, and deliver value that goes beyond illumination.  

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Telenor Pakistan crowned most socially devoted brand

Pakistan’s top telecom and digital services provider, Telenor Pakistan has been ranked again as the ‘Most Socially Devoted Brand’ by Socialbakers.com in its “Social Marketing Report Pakistan June 2017”. SocialBakers monitored a large number of businesses operating in Pakistan and around the world, including telecom services providers, to determine the rate and time of responses to queries posted by users via Facebookpages of the businesses during June 2017. 

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Dawlance Unveils the New LVS Plus and ProActive Inverter Series

Dawlance, Pakistan’s no.1 home appliances brand, unveiled its LVS Plus refrigerators and proActive inverter air conditioner series, which aim to cut down on energy usage for a better, more prosperous Pakistan. In recent times, Dawlance has prioritized provision of relief to consumers battling rising energy costs, especially during sweltering summers by introducing home appliances, which conserve energy, reduce electricity bills and work on low and fluctuating voltages.  

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Commercial Pilots from SAFTS Class of 2017 All Set to Soar High

In line with its vision of setting the highest standards of professionalism in the local aviation industry, the first batch of commercial pilots graduated from Shaheen Air Flying Training School (SAFTS) in a ceremony held in Faisalabad. The first batch comprises of 13 aviation professionals who have completed the first Commercial Pilot License Course (CPL-I) at the facility.

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Etihad Airways reports net loss for 2016

One-off impairments on aircraft and equity investments contribute to US$1.87 billion net loss

·         Passenger revenues steady on record passenger numbers and 79% load factors

·         11% reduction in unit costs helps to offset pressure on yields

·         Group-wide strategic review well underway to drive change and improve performance

Etihad Airways today announced its 2016 financial results, recording a net loss of US$ 1.87 billion on US$ 8.36 billion in revenues as one-off impairment charges and fuel hedging losses weighed against a solid performance of the core airline. 

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Thar Foundation and CfCP inks MoU to run primary schools in Thar

After working to establish three schools in Mithi, Islamkot and Thar Block II, Thar Foundation on Wednesday reached another milestone by announcing that they would run three more schools to impart quality education in district of Tharparkar. Thar Foundation, established by the Sindh Engro Coal Mining Company (SECMC), has signed a memorandum of understanding with Charter for Compassion Pakistan (CfCP) to run three primary schools in the area with low literacy rate.

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Shaheen Air commences Hajj flights

The airline is conducting its largest Hajj operation to date by flying more than 49,000 pilgrims

Shaheen Air International (SAI) has begun flying pilgrims to the holy cities of Saudi Arabia for the Annual Hajj pilgrimage since July 24, 2017. The airline kicked off this year’s Hajj operation with the first flight NL 1003 that departed from Faisalabad to Madinah at 0530 hours, followed by another flight NL 1001 from Karachi to Jeddah at 0600 hours.

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