Allied Bank to install ATMs at Shell stations

KARACHI: Shell Pakistan has entered into a partnership with Allied Bank Limited (ABL) to augment customer experience at their retail sites across Pakistan, a press release said on Monday.

According to the agreement, ABL will install 64 ATMs on Shell forecourts.

Andrew Miskin elected CIMA president

KARACHI: Andrew Miskin has been elected the 83rd president of the Chartered Institute of Management Accountants (CIMA) at the institute’s annual general meeting on Monday, said a press release.

Nissan to sue S. Korea over emission claims

TOKYO: Japanese automaker Nissan said Monday it is taking South Korea to court in response to Seoul’s claims that it manipulated emissions data on a popular sports utility vehicle.

Nissan noted that it has invested heavily in green car technology — particularly electric vehicles — and would continue to “strongly deny” South Korea’s claims.

Nissan paid a $280,000 fine ordered by South Korea’s environment ministry but said it was going to court to try to get the decision overturned.—AFP

China steel giants to merge amid global glut

SHANGHAI: Two of China’s biggest steelmakers are planning to merge, they said, as the industry faces a global glut that has hammered producers worldwide.

Baosteel Group, China’s second-largest steelmaker, is “planning a strategic restructuring with Wuhan Iron and Steel Group”, another giant, both companies’ listed units said in separate statements to the Shanghai stock exchange late Sunday.

But the restructuring plan had not yet been confirmed, the statements said, without giving further details.

The two firms rank fifth and 11th respectively in the world.

Published in Dawn, June 28th, 2016