Chief Executive of AUDI, Rupert Stadler alleged for dieselgate attempt

Chief Executive of AUDI, Rupert Stadler alleged for dieselgate attempt

FRANKFURT: Volkswagen’s supervisory boards suspended crisis talks to find a stand-in boss for its Audi brand which was convened after German authorities arrested current Audi Chief Executive Rupert Stadler as part of a probe into emissions test cheating. The directors of Audi and Volkswagen discussed how to run its more...

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“Amnesty scheme cannot be extended after 30th June”: Shamshad

“Amnesty scheme cannot be extended after 30th June”: Shamshad

KARACHI: Caretaker Minister for Finance and Economic Affairs Dr Shamshad Akhtar has directed Pakistan Stock Exchange (PSX) to form a committee to propose a five-year roadmap for the development of Pakistan’s capital market. During Shamshad’s visit to Pakistan Stock Exchange, the minister held meeting with representatives of PSX board management,...

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Samsung vows to use renewable energy sources by 2020

Samsung vows to use renewable energy sources by 2020

Samsung Electronics, the world’s biggest smartphone maker, has vowed to convert its operations in the United States, Europe and China to using only solar and other renewable energy sources by 2020. Following its announcement on Thursday, the tech giant joins Apple and other Silicon Valley companies in delivering such a...

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Petrol prices inch up in moderation with effect from 12th June

Petrol prices inch up in moderation with effect from 12th June

ISLAMABAD: On Sunday, the caretaker government revised the prices of petroleum products, announcing a Rs4.26 per-litre rise in petrol prices to go into effect today (Tuesday). Petrol would consequently be sold at a revised rate of Rs91.96 a litre. Moreover, the prices of diesel, light diesel, and kerosene oil were...

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Petroleum prices to remain stable throughout June

Petroleum prices to remain stable throughout June

ISLAMABAD: The caretaker government has decided not to change the prices of petroleum products for the time being, informed sources told Dawn on Thursday. A senior government official said the caretaker ministers did not support a price increase. He said the members of the caretaker cabinet why should take the blame for...

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Blackberry rolls out for brand recall, introduces new device

Blackberry rolls out for brand recall, introduces new device

NEW YORK: There’s a new BlackBerry smartphone, the latest effort to revive the once-dominant brand. The BlackBerry Key2 was unveiled on Thursday in New York by TCL Communication, the Chinese manufacturer which took over the rights to the smartphone brand from the Canadian tech firm in 2016. The new device,...

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Gold inches up as euro gains against dollar

Gold inches up as euro gains against dollar

Spot gold was up 0.1 percent at $1,297.46 per ounce by 0703 GMT, while U.S. gold futures for August delivery were largely unchanged at $1,301.50 per ounce  Gold prices inched up on Thursday as the euro rose to 2-week highs against the U.S dollar, with investors waiting for meetings of...

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Minister for Commerce urges to design a fiscal policy that caters to business’s growth and development

Minister for Commerce urges to design a fiscal policy that caters to business’s growth and development

ISLAMABAD: Talking about the impact of the fiscal policy on trade and investment decisions, Minister for Commerce Dr Shamshad Akhtar laid emphasis on designing a fiscal policy that facilitates the businesses. “We would like to do the spade work for the upcoming governments, so that the country could benefit in...

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Kinno exports break records and fetch nearly $222 million this season

Kinno exports break records and fetch nearly $222 million this season

KARACHI: Pakistan exported 370,000 tonnes of kinno in this season fetching $222 million — the highest ever volume during any season. Kinno exports began from December 2017 and continued till the beginning of May 2018. Last year exports stood at 325,000 tonnes. Waheed Ahmed, Patron-in-Chief of Pakistan Fruit and Vegetable...

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CNG dealers infuriated with unscheduled discriminatory load-shedding, threaten to stage a strike in Sindh

CNG dealers infuriated with unscheduled discriminatory load-shedding, threaten to stage a strike in Sindh

KARACHI: CNG dealers on Tuesday criticized the Sui Southern Gas Company’s practice of four days in a week loadshedding for the CNG sector in Sindh and warned of a complete strike if their issues were not resolved. Owing to the uncalled extended Compressed Natural Gas (CNG) loadshedding, CNG dealers called...

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Punjab to roll out its first IT policy to lend support to its industries

Punjab to roll out its first IT policy to lend support to its industries

LAHORE: The PML-N government has launched Punjab’s first-ever Information technology policy on five pillars approved by the Punjab Cabinet in its farewell meeting on Wednesday, would focus on bridging the digital divide, e-governance, citizen-centric services, IT research and development and innovation hub of Pakistan. and entrepreneurship. Dr Saif said the IT...

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India rolls out a bailout package worth Rs.70bn for sugar-mills

India rolls out a bailout package worth Rs.70bn for sugar-mills

NEW DEHLI: The Indian government is likely to announce a bailout package of more than over 70 billion rupees ($1.04bn) to the cash-starved sugar mills to help clear dues to farmers, the Times of India reported on Monday, citing the Press Trust of India. The country’s Cabinet Committee on Economic...

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Singapore Airlines soon to offer longest flight duration, direct flights to Los Angeles soon to launch

Singapore Airlines soon to offer longest flight duration, direct flights to Los Angeles soon to launch

SINGAPORE: Singapore Airlines said on Wednesday that it will relaunch the world’s longest commercial flight in October, a journey of almost 19 hours from the city-state to New York, but it will not be available to economy travelers. The daily, non-stop journey from Changi to Newark Airport will cover about...

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Upward revision in petroleum prices, new prices remain unchanged till 7th June

Upward revision in petroleum prices, new prices remain unchanged till 7th June

ISLAMABAD: On the last day in power, the government has refrained from a massive hike in the price of petroleum products. Finance Minister Miftah Ismail said that the prime minister, on the recommendation of the ministry has decided to leave the prices of petroleum products unchanged till June 7. He...

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What are the countries with the most expensive and cheapest gasoline in the world?

What are the countries with the most expensive and cheapest gasoline in the world?

Putting gasoline in the car is usually quite banal in most countries, but depending on where you live the impact in your pocket can be very different. Although gasoline (or diesel) is sold throughout the world, the conditions that determine its price are very different. And the reasons that make it...

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OGRA recommends hike in prices of petrol and diesel by Rs7.10 and Rs5.20 respectively

OGRA recommends hike in prices of petrol and diesel by Rs7.10 and Rs5.20 respectively

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has recommended an hike in prices of petrol and diesel by more than Rs 7 and Rs 5 per liter respectively, sources informed Geo News Tuesday. The OGRA has forwarded a summary of the recommended a surge in prices of petrol and diesel...

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Pakistan and Saudi Arabia vow to enhance economic ties

Pakistan and Saudi Arabia vow to enhance economic ties

ISLAMABAD: Minister for Interior, Ahsan Iqbal and Saudi Minister of Interior, Abdul Aziz bin Saud bin Nayef on Monday vowed to further enhance economic cooperation for strengthening the existing bonds between Pakistan and Saudi Arabia. Interior Minister welcomed Ahsan Iqbal to the Kingdom. He also showed concern over the assassination...

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Starbucks reputation hits low, shuts 8000 US cafes for racial bias training

Starbucks reputation hits low, shuts 8000 US cafes for racial bias training

Starbucks appealed to customers for forgiveness in a row over racial profiling on Tuesday, saying its behaviour towards two black American customers last month had been reprehensible as it closed 8,000 stores for anti-bias training. The company has settled privately with the two men after the incident in a Philadelphia...

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MAC Cosmetics mocked for posting a tutorial video on a “glamorous Suhoor look”

MAC Cosmetics mocked for posting a tutorial video on a “glamorous Suhoor look”

Cosmetic manufacturer, Mac, has come under fire for posting a tutorial video for a “glamorous Suhoor look”. استعدي لعزيمة الأهل و الأصدقاء بخطوات بسيطة! شاهدي كيف الفنانة العالمية لدى ماك مريم خيرالله تبتكر لوك رائع!✨🌙🌙 You’re only a few steps away from your glamorous gathering look with friends & family!...

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Pakistan, Russia: Businessmen seek for means to foster bilateral ties

Pakistan, Russia: Businessmen seek for means to foster bilateral ties

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said the business community of Pakistan is eager to enhance trade and economic relations with Russia. The imbalance created by a 100% tilt towards the west for seven decades should be corrected by coming closer to regional friends like Turkey...

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GDPR: Why are these days maybe emails are reaching you about the use of your personal data on the internet?

GDPR: Why are these days maybe emails are reaching you about the use of your personal data on the internet?

Do you know what GDPR stands for? It is possible that the last few days you have received dozens of emails with “important notices”, “policy review” or “privacy updates”. It also may be that when accessing a web page you have seen a notice at the top of the screen...

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Woman to lead NYSE after a span of 226 years

Woman to lead NYSE after a span of 226 years

NEW YORK: The New York Stock Exchange for the first time in its 226-year history will be led by a woman. Stacey Cunningham, a previously unknown figure kickstarted her career as a floor clerk on the NYSE trading floor, will become the 67th president of the Big Board. That means...

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Uber files appeal against license loss

Uber files appeal against license loss

LONDON: Uber submitted an appeal on Friday against the decision by the southern coastal English city of Brighton to strip the taxi app of its license for not being “fit and proper” over data concerns and the use of drivers from outside the area. “We have today filed our appeal...

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Travel Guide: World’s top 10 cheapest airlines revealed

Travel Guide: World’s top 10 cheapest airlines revealed

Australia’s budget carrier Tigerair aced a new list of the world’s cheapest airlines, one that’s dominated by carriers from Asia and the Middle East. Number crunchers over at Rome2Rio, a transportation and travel search engine, compiled a data-based ranking that averages the price per kilometer of travelling on airlines around the world....

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Pakistan: Increased sugar consumption during Ramdan leads to sufficient stock levels

Pakistan: Increased sugar consumption during Ramdan leads to sufficient stock levels

ISLAMABAD: On Tuesday, the Economic Coordination Committee (ECC) expressed contentment over the availability of sufficient sugar stock during Ramadan and noted that 4.35 million metric tons was available with monthly consumption of 0.433 MMT per month in Pakistan. Prime Minister Shahid Khaqan Abbasi chaired a meeting of the Economic Coordination...

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Tech-giant Alibaba acquires Daraz, enters Pakistan

Tech-giant Alibaba acquires Daraz, enters Pakistan

KARACHI: China’s biggest and well-known Alibaba Group, has finally paved way into the Pakistani e-commerce Market, acquiring Daraz Group. In a press release, Daraz official said “With the acquisition, Daraz will be able to leverage Alibaba’s leadership and experience in technology, online commerce, mobile payment, and logistics to drive further...

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Flaws spotted in CPEC’s road projects

Flaws spotted in CPEC’s road projects

ISLAMABAD: Poor standard of construction has been found in a road project of the China-Pakistan Econo­mic Corridor (CPEC) in Balochistan. The Zhob-Mughalkot Road (N-50) has two packages and Package-I is being built by M/s Zahid Khan & Brothers (ZKB). Maqbool Associates, which had submitted the lowest bid, won the contract,...

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Mercedes Benz manufacturing units for trucks to set up in Pakistan

Mercedes Benz manufacturing units for trucks to set up in Pakistan

BERLIN: German Automaker, Daimler AG has signed a memorandum of understanding (MoU) with the National Logistics Cell (NLC) to set up a manufacturing unit of Mercedes‐Benz trucks in Pakistan. In a statement released by NLC, the company confirms that Daimler AG will locally assemble Mercedes-Benz Trucks in Pakistan and marks...

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Pricing Alert: CNG prices increase by Rs 1.70

Pricing Alert: CNG prices increase by Rs 1.70

KARACHI: Station owners have increased the price of compressed natural gas (CNG by Rs1.70 per kg in Karachi and other parts of Sindh to Rs81.70 from Rs80 per kg. The government had deregulated CNG price in December 2016 which at that time was available at Rs67.50 per kg. From December...

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Cotton yield rises and trading activity slows down

Cotton yield rises and trading activity slows down

KARACHI: Pakistan yielded 11.58 million bales during the cotton season 2017-18 which closed on May 1, against 2016-17 when 10.72 million bales were produced till April 15, 2017. The previous cotton season was short by two weeks. A big deal of 13,000 bales from Sadiqabad was the highlight of the...

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Shahid Khaqan in talks with President of Kenya to discuss trade ties and international state affairs

Shahid Khaqan in talks with President of Kenya to discuss trade ties and international state affairs

ISLAMABAD: On Monday, Prime Minister Shahid Khaqan Abbasi expressing delight over the prevailing cordial relations between Pakistan and Kenya emphasized on enhancing and diversifying bilateral trade ties. The Prime Minister expressed these concerns during a meeting with Foreign Minister of Kenya Ambassador Dr Monica Juma, who along with the High...

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Marsden Point Refinery’s maintenance shut down in full swing

Marsden Point Refinery’s maintenance shut down in full swing

The maintenance shutdown of the Marsden Point refinery is about to enter its busiest phase with work on refinery processing units and related utilities commencing from Monday 7 May onward. Scheduled for completion in mid-June, the shutdown will see staff and contractor numbers at the refinery soar from 500-plus to...

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Petroleum life-cycle: Prices likely to shoot up by Rs.3

Petroleum life-cycle: Prices likely to shoot up by Rs.3

ISLAMABAD: The government is likely to increase petroleum prices starting Tuesday after Oil and Gas Regulatory Authority (OGRA) sent a summary to Petroleum Division suggesting an increase. According to OGRA, the prices of petrol should be taken up by Rs3.22 per litre, diesel to Rs5.2, kerosene oil Rs6.97 and light...

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KSA’s Aramco welcomes first woman as the Board of Director

KSA’s Aramco welcomes first woman as the Board of Director

RIYADH: On Sunday, Saudi national oil giant Aramco said that five new members had been appointed to its board of directors, including the first woman in the firm’s history. Lynn Laverty Elsenhans, 60, is the former head of US oil company Sunoco Inc. and has been director of oil services...

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ECC approves Ramadan Package worth Rs1.7 billion at subsidized rates

ECC approves Ramadan Package worth Rs1.7 billion at subsidized rates

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has allowed raising of Rs100 billion in commercial loans to bail out the ailing power sector and approved a RamadanPackage worth Rs1.73 billion to provide essential items to people at subsidized rates. A meeting of the ECC presided over by Prime...

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Cotton prices become invincibly high as demand rises

Cotton prices become invincibly high as demand rises

KARACHI: Spinners vying for quality lint has kept prices stagnant, yet high, on the cotton market on Wednesday amid fears of delay in arrival of next crop. Reports indicate that many parts in lower Sindh are still not getting irrigation water causing delay in cotton yield. Consequently, some spinners resorted...

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Boeing company’s profit trend expected to go forward as earnings and sales grow

Boeing company’s profit trend expected to go forward as earnings and sales grow

NEW YORK: Boeing Co’s quarterly profit surged past Wall Street estimates and booming demand for commercial jets pushed the company to raise its forecasts for cash flow and earnings for the year. On Tuesday, the world’s biggest plane maker played down concerns around rising costs of metals, after manufacturer Caterpillar...

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Silver prices likely to surge this year

Silver prices likely to surge this year

NEW YORK: The price of silver will rely heavily on trends in investment demand in 2018 but could get a boost from international political and economic risk purchases, according to CPM Group on Tuesday. “The enormous range of economic, financial and political issues facing the world and individual investors seems...

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Sugar prices depress and plunge down to its lowest level recorded in 9 years as supplies increase globally

Sugar prices depress and plunge down to its lowest level recorded in 9 years as supplies increase globally

LONDON: On Tuesday, raw sugar futures on ICE slid to a 2-1/2 year low while white sugar fell to its weakest level in more than nine years as the market extended its prolonged fall driven by global oversupply. May raw sugar was down 0.17 cents, or 1.5%, at 11.04 cents...

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KSA aims to generate 35-40 billion revenue in riyals through its privatization programme

KSA aims to generate 35-40 billion revenue in riyals through its privatization programme

RIYADH: Saudi Arabia aims to generate 35 to 40 billion riyals ($9-11 billion) in non-oil revenues from its privatization programme by 2020 and create up to 12,000 jobs, according to a document published by the official news agency on Tuesday. The initiative targets 14 public-private partnership investments worth 24 to...

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Gold prices remain depressed and dull in domestic and international bullion market

Gold prices remain depressed and dull in domestic and international bullion market

LONDON: Gold hit a two-week low on Monday, as investors piled into the dollar with US Treasury yields approaching 3% and geopolitical upheavals eased. The yield on 10-year US Treasuries hit its highest since January 2014, lifting the dollar index to a seven-week peak and making dollar-priced gold most costly...

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Cotton prices surge as spinners compete for quality bales

Cotton prices surge as spinners compete for quality bales

KARACHI: Cotton prices on Monday surged to a seasonal high as spinners chased quality lots that ran short of supply. A deal of 1,000 bales from Ghotki was done at the season’s highest rate of Rs8,200 per maund. As the current season is coming to an end, spinners are indulging...

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London: Uber CEO in talks with transport commissioner for the renewal of company’s license

London: Uber CEO in talks with transport commissioner for the renewal of company’s license

LONDON: London’s Transport Commissioner Mike Brown met Uber boss Dara Khosrowshahi in January, a freedom of information request revealed, as the Silicon Valley app fights to keep its cars on the streets of its most important European market. Uber is combating a decision by the city’s transport regulator last September...

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Cotton supply increases by 8%, bales unsold by ginners as prices become susceptible to increase

Cotton supply increases by 8%, bales unsold by ginners as prices become susceptible to increase

KARACHI: On Thursday, cotton trading activity turned slow as buyers withdrew to sidelines. The dynamic market behavior is in line with the end season trading pattern witnessed each year. Though demand for quality cotton still exists but with ginners demanding increased prices, needy spinners have been left flabbergasted. Barring a...

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IMF spots trade tensions, global growth at stake after 2020

IMF spots trade tensions, global growth at stake after 2020

WASHINGTON: The International Monetary Fund warned on Tuesday that rising US-China trade restrictions apparently threaten to damage a steady global growth picture, but there was still time for the world’s two largest economies to step back from the brink. The IMF, in its latest World Economic Outlook, kept its global...

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Gold spotted down with a dip

Gold spotted down with a dip

LONDON: On Tuesday, Gold fell as sharper appetite for risk benefited cyclical assets at bullion’s expense, with the dollar’s recovery from three-week lows versus the euro adding to pressure on the metal. Gold rallied to a 2-1/2-month high last week as heightened tensions over Syria and US sanctions on Russia...

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Inflation rate brought down from over 11pc to 4pc, says Miftah Ismail

Inflation rate brought down from over 11pc to 4pc, says Miftah Ismail

ISLAMABAD: Speaking about the government’s achievements in the last five years, Adviser to Prime Minister on Finance Miftah Ismail on Monday said that inflation had been brought down from over 11 percent to under 4 percent while energy crisis had largely been resolved. Addressing a Round Table Conference titled ‘Pakistan...

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Nepal to nurture trade ties with Pakistan

Nepal to nurture trade ties with Pakistan

RAWALPINDI: Ambassador of Nepal, Sewa Lamsal Adhikari said Saturday that her country wants to further boost bilateral trade and economic relations with Pakistan. Speaking at a Gems & Jewelry exhibition held under the auspicious of Capital Gems Traders Association Rawalpindi-Islamabad, envoy said Pakistan and Nepal have tremendous potential for investment...

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Pakistan Railway sector enjoys growth, shows mark improvement

Pakistan Railway sector enjoys growth, shows mark improvement

ISLAMABAD: Minister for Railways Khawaja Saad Rafique on Saturday said the number of passengers travelling in Pakistan Railways had increased by 14 million during the current government’s tenure. “The confidence of the people has been restored in the railways with the effective policies of government,” he claimed while talking to...

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PTCL profits slashed by 10%

PTCL profits slashed by 10%

KARACHI: Pakistan Telecommunication Company Limited (PTCL) posted consolidated profit after tax on Thursday for the first quarter ended March 31, 2018 at Rs1.007 billion. Compared to the corresponding period of last year, the bottom line dropped 10.02% while earnings per share sharply fell from Rs0.22 to Rs0.2. The group revenue...

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