ZTE proposes $10.7 billion financing plan, new board

On Wednesday, ZTE shares plunged a record 41 percent in Hong Kong and 10 percent in Shenzhen, wiping out almost $3 billion off embattled ZTE’s market value, as it resumed trading after being suspended for almost two months due to the U.S. ban

Cellular providers to give 100 percent credit on credit recharge for 15 days

As per the SC directives, this relief will last for 15 days after which the FBR and cellular companies would submit a mechanism to the apex court for collecting taxes via mobile phone top-up cards

Investors wipe $3 billion off China’s ZTE as U.S. settlement sinks in

The Hong Kong-listed shares of ZTE slid as much as 41 percent to HK$14.98, their lowest in a year, following a two-month trading suspension.

Mobile phone card tax suspension could cause Rs123 billion loss to national exchequer

Before the apex court decision, provinces were collecting around 19.5 percent tax on a prepaid phone card, so their revenue collection losses would touch Rs75 billion annually

ZTE settlement details revealed, ban still in force

Under the settlement, ZTE will pay a total civil penalty of $1.7 billion, including $361 million already paid as part of a March 2017 agreement, the $1 billion fine and the $400 million that will go into escrow

Pakistan contemplating to take Etisalat to international court over pending payment

The UAE-based company has withheld $800 million payment on grounds of properties not being transferred in its name and out of 3,300 properties, 33 of them cannot be transferred in the name of PTCL

US reaches deal with China to keep ZTE in business

Fox News said Trump told them on Thursday that he had negotiated the $1.3 billion fine with Chinese President Xi Jinping in a phone call

ZTE paid $2.3 billion to US exporters in 2017

In April this year, the Commerce Department found ZTE had violated the terms of last year’s settlement and banned U.S. companies from providing exports to ZTE for seven years. As a result, ZTE suspended its main operating activities earlier this month

SC summons reply from FBR, provinces, telcos over unprecedented taxation

ISLAMABAD: The Supreme Court (SC) on Tuesday summoned the federal government, Federal Board of Revenue, provinces and telecom companies to submit a response to the...

PTA set to launch DIRBS for blocking stolen, smuggled mobile phones

Unregistered devices will be denied mobile communication service and will be included in blacklist if found operational on the public switched network

US military bans Huawei, ZTE phones

Personnel on US military bases can no longer buy phones and other gear manufactured by Chinese firms Huawei and ZTE after the Pentagon said the devices pose an “unacceptable” security risk.

PTA approves investment in telecom tower-sharing services company

Pakistan Telecommunication Authority (PTA) has approved edotco Pakistan's change of shareholding by way of subscription by Dawood Hercules Corporation Limited (DH Corp) of 45 per cent of the share capital of edotco Pakistan.

Economic Survey 2017-18: Telecom sector revenues touched Rs235.5 billion in FY 2017-18

Until the end of February 2018, Pakistan’s total mobile broadband subscribers stood at 53.5 million.

GB court sets aside PTA order to grant 3G/4G spectrum to mobile companies

ISLAMABAD: Special Communication Organisation (SCO) has been permitted by a local court to start trial operations of 3G and 4G services in Gilgit-Baltistan (GB). The...

Following ZTE, Huawei faces investigation for violation of U.S sanctions

NEW YORK/LONDON: U.S. prosecutors in New York have been investigating whether Chinese tech company Huawei violated U.S. sanctions in relation to Iran, according to...

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China to extend support through short term loans

It was earlier rumoured that the caretaker government would opt for a bailout from the International Monetary Fund (IMF), however, after the caretaker setup denied such plans, Pakistan is likely to rely on short-term loans from China till the next government takes charge.