BP posts biggest ever annual loss, to cut 7,000 more jobs

BY KAROLIN SCHAPS AND RON BOUSSO

LONDON — Reuters:  BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.

Read more » The Globe and Mail
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Local manufacturing of mobile handsets from April

ISLAMABAD: A Chinese manufacturer will launch its mobile handset manufacturing and assembling unit in April (Pakistan’s first), a senior official at Ministry of Information Technology and Telecommunication said on Monday.

 

The manufacturer — China’s Haier — is already operating in the country and has established a laptop manufacturing unit in Lahore.

The move would help in reducing the import bill as smartphones are in demand and also bring good investment as well as creating job opportunities, the official said.

The government had announced tax incentive package for manufacturing of mobile phones in budget 2015-16. These included income tax exemption for five years, zero per cent depreciation allowance for plants, machinery and production line equipment used for manufacturing of mobile phones certified by the Pakistan Telecommunication Authority (PTA) in the first year.

In the wake of new government policy facilitating local manufacturing/assembling of mobile handsets, a delegation led by Haier Groups CEO, Zeeshan Qureshi met with Minister of State for IT and Telecom, Anusha Rahman.

Mr Qureshi said Haier considers Pakistan a very lucrative and flourishing market for mobile handset manufacturing/assembling particularly with uptake of 3G/4G services in the country.

Read more » DAWN
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