KPT gets new chairman

KARACHI: Rear Admiral Jamil Akhtar HI (M) T.Bt assumed charge of chairman Karachi Port Trust (KPT) on Thursday, a press release said.

Before joining KPT as chairman, he was the Director General Pakistan Maritime Security Agency (MSA) and had the distinction of commanding Pakistan Navy surface ships, Pak Marines and Special Forces set-up of Pakistan Navy during his career as naval officer.

General Electric to cut 12,000 jobs

ZURICH: General Electric Co said on Thursday it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate’s latest effort to shrink itself into a more focused company.

The US company, whose stock has plunged 44 per cent this year, launched the cuts to save $1 billion in 2018, saying it expected dwindling demand for fossil fuel power plants to continue.

GE did not give a detailed breakdown of the job cuts, which represent about 4pc of its overall workforce, saying only that they would be primarily outside the United States.

Published in Dawn, December 8th, 2017