JS Bank, Paysys launch Instascan

KARACHI: JS Bank signed an agreement with Paysys Labs to launch Instascan, the first mobile-based biometric solution in Pakistan, a press release said.

Wanda shares tumble on rumours

SHANGHAI: Shares in the hotel chain of Chinese conglomerate Wanda plunged in Hong Kong to close 8.09 per cent lower on Monday despite the firm dismissing as false reports that chairman Wang Jianlin had been barred from leaving the country.

Wanda and other Chinese conglomerates that made a succession of multi-billion-dollar overseas investments in recent years have been under official scrutiny for months as Beijing clamps down on capital flight and skyrocketing debt.

The obscure website Bowen Press reported on Sunday that Wang, one of China’s richest men, and his family were stopped at Tianjin airport on Friday as they sought to fly to London.—AFP

Expedia CEO Khosrowshahi to lead Uber

DETROIT: Two people briefed on the matter say Expedia CEO Dara Khosrowshahi has been named CEO of ride-hailing giant Uber Technologies Inc.

The people say Uber’s board voted to pick him Sunday after three days of meetings. They didn’t want to be identified because no official announcement has been made.

Khosrowshahi has been CEO of Expedia since August of 2015. The company’s website says it has grown to become one of the largest online travel companies in the world under his leadership.

He’ll replace ousted CEO Travis Kalanick and faces the difficult task of changing Uber’s culture that has included sexual harassment and allegations of deceit and corporate espionage.

Published in Dawn, August 29th, 2017