Bank Alfalah partners with IBP

KARACHI: Bank Alfalah on Thursday signed an agreement with the Institute of Bankers Pakistan (IBP) for capacity building of banks’ human resource, said a press release.

Under the partnership, key learning initiatives will jointly be launched by the two organisations.

BankIslami starts hiring KASB staff

KARACHI: BankIslami Pakistan Ltd on Thursday started an internal hiring programme for former KASB employees to help them assimilate in the amalgamated entity.

“The bank will ensure maximum job security and will adjust the staff by training them in Islamic banking,” said its CEO Hasan A Bilgrami.—Staff Reporter

HP sells stake in China unit for $2.3bn

NEW YORK: Hewlett-Packard announced Thursday it was selling a 51 per cent stake in its China-based server business, creating a joint venture with Tsinghua Holdings that will be a sector leader in China.

The US tech giant said it would sell the stake for $2.3 billion, creating a new business called H3C worth $4.5bn that would be the leader in China in computer servers, storage and technology services.

The deal brings together HP with the investment arm of China’s Tsinghua University in a company with some 8,000 employees and $3.1bn in annual revenue.—AFP

Lenovo’s revenue up 20pc, profits miss target

HONG KONG: China’s Lenovo said Thursday revenue rose 20 per cent in its past fiscal year, helped by its purchase of Motorola, but net profit growth slowed to just one per cent.

The world’s biggest personal computer maker, which is diversifying into the smartphone market, said revenue reached $46.30 billion for the year ending March 31.

But net profit was up only one per cent for the period at $829 million, owing to increased operating expenses, which increased almost 40pc at $5.57bn, the company said in a filing to the Hong Kong Stock Exchange.

Published in Dawn, May 22nd, 2015

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