Mari Petroleum posted Rs95bn sales in FY16

KARAHCI: Gross sales of Mari Petroleum Company Ltd (MPCL) stood at Rs94.99 billion in the preceding fiscal year, said a press release issued on Friday.

Nadeem Ahmed, the company’s CEO, informed board of directors’ 163rd meeting that the company contributed Rs77.3bn to the national exchequer during the year.

Digital printing expo from 23rd

KARACHI: The three-day International Digital Printing and Signage Technology Exhibition to open from Aug 23 at Expo Centre Karachi.

Around 100 companies with 12,000 delegates and principals from 15 countries such as China, Germany, Italy, Korea, the Netherlands, Singapore and Taiwan will participate, said a press release.

Engro to implement industrial software

KARACHI: Engro Corporation and Inbox Business Technologies entered into an agreement on Thursday for industrial software application development.

Under the agreement Inbox will develop applications for Engro’s fertiliser, dairy and captive power segments, using application development platform — Predix, said a press release.

“Engro remains resolute in its commitment to develop the local industrial sector by introducing technological platforms that can enhance our domain expertise,” said Engro President Khalid Siraj Subhani.—APP

Deutsche whistle-blower rejects US award

FRANKFURT: A whistle-blower who helped expose systematic overvaluing of credit derivatives at Deutsche Bank said on Friday he had rejected a multi-million-dollar US award for his actions, lamenting that shareholders and employees were the victims.

“I will not join the looting of the very people I was hired to protect,” Eric Ben-Artzi wrote in an opinion piece in the Financial Times (FT).

Ben-Artzi, a risk officer, was one of a trio of whistleblowers who went to the US financial regulator, the Securities and Exchange Commission (SEC) with evidence of the wrongdoing.—AFP

VW suppliers hit out as legal woes deepen

FRANKFURT: A legal battle between Volkswagen and its parts suppliers, which has severely disrupted production at the German auto giant and angered workers, intensified on Friday as the companies blamed VW for the falling-out.

“We are not responsible for the crisis at VW and the resulting cuts to shifts,” Alexander Gerstung of ES Automobilguss, which supplies cast gearbox components, said in a statement obtained by national news agency DPA Friday.

VW secured temporary injunctions on August 12 ordering ES and seat cover maker Cartrim to resume deliveries.

Published in Dawn, August 20th, 2016