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corporate watch

April 17, 2018

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RFC, Tetra Pak for cleaner environment

KARACHI: Royal FrieslandCampina (RFC) — the parent company of Engro Foods Ltd — has committed to contribute towards a cleaner environment in partnership with Tetra Pak.

The agreement is titled Panther — Partnership and New Technology for Evaporators — under which both the companies will ensure that all future falling film evaporators will be installed by TetraPak, at all RFC operating companies in 32 countries globally.

Naveed Saeed of Engro Foods said the company will be able to reduce its energy consumption by 10 per cent, resulting in significant carbon emission reduction.

Ola to launch 10,000 EV over 12 months

NEW DELHI: Indian ride-hailing firm Ola, backed by Japan’s SoftBank Group will launch 10,000 electric three-wheelers in the country over the next 12 months as part of a broader electrification plan, the company said in a statement on Monday.

The move is part of a broader push by Ola to launch 1 million electric vehicles (EV) on its platform by 2021, it said in the statement, adding that it will work with various state governments, vehicle manufacturers and battery companies to meet its target.—Reuters

US bars China’s ZTE from buying US parts

WASHINGTON: The US Commerce Department is blocking Chinese telecommunications giant ZTE Corp. from importing American components for seven years, accusing the company of misleading US regulators after it settled charges of violating sanctions against North Korea and Iran.

Shenzhen-based ZTE agreed in March 2017 to plead guilty and pay $1.19 billion for illegally shipping telecommunications equipment to North Korea and Iran. ZTE promised to discipline employees involved in the scheme.

But Commerce said Monday that ZTE paid full bonuses to several of those involved, then lied about it.

Published in Dawn, April 17th, 2018