FCCI seeks Sialkot’s help for private airport

SIALKOT: The management of Sialkot International Airport Ltd (SIAL) and Sialkot Chamber of Commerce and Industry will provide all the necessary guidance, support and technical assistance to the Faisalabad Chamber of Commerce and Industry (FCCI) in building an international airport on a self-help basis.

During a meeting with a delegation of Faisalabad-based industrialists on Thursday, SIAL Chairman Khawar Anwar Khawaja said his chamber would play an active role in setting up a private airport in Faisalabad.—Correspondent

BAT’s weaker sales hit shares

LONDON: British American Tobacco’s weaker than expected 2017 sales growth and progress on next-generation products combined to send its share price down as much as nearly 5 per cent on Thursday to an 18-month low. The company has thrown itself into the competitive battleground of alternatives such as e-cigarettes and tobacco heating devices.

Shares in BAT, the biggest faller on Britain’s FTSE 100 index , trade at a significant discount to Philip Morris stock, largely because of the latter’s lead in tobacco-heating devices.—Reuters

Snap chief earns $638m in 2017

BENGALURU: Snap Inc CEO Evan Spiegel received $637.8 million as total compensation, the third-highest annual payout ever received by a company’s chief executive.

Spiegel’s payout trails the 2007 and 2008 compensations of Daniel Och, CEO of Och-Ziff Capital Management Group. Spiegel’s compensation is based on stock-based awards worth $636.6m and salary and other compensation worth about $1.2m, according to Snap on Thursday.

Published in Dawn, February 23rd, 2018