NIB Bank’s profit surges in first half

KARACHI: NIB Bank’s profit-after-tax rose to Rs1.487 billion during the half year ended June 30, 2015 from Rs421 million in the same period last year, said a press release on Thursday.

Its operating profit surged by 425 per cent to Rs3.34bn from Rs635m in the same period last year, and its revenues increased by 89pc to Rs6.63bn.

Standard Chartered posts Rs8.5bn profit

KARACHI: Standard Chartered Bank (Pakistan) posted profit-before-tax at Rs8.5 billion during the first half of 2015 as compared to Rs7.2bn in the same period last year, said a press release on Thursday.

Its earnings per share stood at Rs1.29 as compared to Rs1.22 in the first half of 2014.

Extension sought from FBR

KARACHI: Tax bars and trade bodies urged the Federal Board of Revenue (FBR) on Thursday to extend the date of filing of income tax returns for the tax year 2015 by one month to September 30, 2015.

The Pakistan Tax Bar and Karachi Tax Bar complained that the return forms recently uploaded on “IRIS” system of the FBR were problematic. Without resolving the issue, the taxpayers or tax consultants would not be able to file tax returns for the tax year 2015 for which due date has been fixed on August 31, 2015, the bodies maintained.—Staff Reporter

ICI Pakistan profit rises

KARACHI: ICI Pakistan profit-after-tax rose 24 per cent to Rs2.276 billion for the year ended June 30, 2015. Its operating profit surged 37pc to Rs3.044bn as compared to the preceding year.

However, its net sales income stood at Rs37.515bn as compared to Rs38.233bn in the previous year, a decline of 2pc.—Staff Reporter

EU anti-trust accusations ‘wrong’: Google

BRUSSELS: US Internet search giant Google on Thursday said accusations by EU anti-trust regulators that it illegally abuses its market dominance “are wrong”, in its first formal reaction to allegations by Brussels earlier this year.

“We believe that the statement of objections’ preliminary conclusions are wrong as a matter of fact, law, and economics,” Google general counsel Kent Walker said in a blog post, referring to the European Union’s official complaint filed in April.—AFP

Solar trees power Wi-Fi, phones in Dubai

DUBAI: A new species of palm tree has started sprouting around Dubai. But instead of producing dates, the fronds of the Smart Palm harness the sun’s energy to allow people to look up city information, access Wi-Fi, and charge their phones, all for free.

Topped with nine leaf-shaped photovoltaic modules, a six-meter-tall Smart Palm can generate around 7.2 kilowatt hours per day, enough to operate without ever drawing off the grid.

The two prototype palms that have already been installed — one at a beach near the Burj Al Arab hotel and other at centrally located Zabeel Park — each carry a Wi-Fi hotspot, eight charging stations for phones and tablets, and a touch-screen panel giving local details on things like weather and transportation.

Published in Dawn, August 28th, 2015

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