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corporate watch

August 13, 2017

Iran in talks to buy 48 Airbus helicopters

DUBAI: Iran is holding talks with European planemaker Airbus to buy 48 helicopters for civilian use, an Iranian official was on Saturday quoted as saying, as Iran continues its shopping spree of Western aircraft after the lifting of sanctions.

“The Health Ministry is planning to order 45 HEMS (Helicopter Emergency Medical Service) helicopters and the purchase is being negotiated by the Ministry of Roads and Urban Development,” Iran’s Financial Tribune daily quoted Deputy Minister Asghar Fakhrieh-Kashan as saying.

“Ports and Maritime Organisation is also planning to hold a tender to purchase three search-and-rescue helicopters,” he added.—Reuters

Tata Steel agrees to restructure pension fund

LONDON: Tata Steel and British authorities have agreed on a plan to restructure the firm’s British pension scheme, ending one aspect of uncertainty for 130,000 current and retired steelworkers.

Indian-owned Tata announced plans last year to sell its UK operations, including the Port Talbot steelworks in Wales. But after interventions from the British government and unions it agreed to keep the business.

A sticking point was 15 billion pounds ($19.5bn) in British pension liabilities. Steelworkers voter earlier this year to accept lower benefits if it meant protecting jobs.

Tata Steel UK said on Friday it had signed an arrangement with pension trustees to separate the plan from the company, in exchange for a cash injection.

HBL, MCB Bank top taxpayers

KARACHI: Habib Bank Ltd and MCB Bank are the two top taxpayers amongst Pakistani banks as per the latest tax directory, with a contribution of Rs16.4 billion and Rs16.2bn respectively in 2015-16.

Published in Dawn, August 13th, 2017