Jazz offers customers direct carrier billing for purchases on Google Play

KARACHI: Jazz customers can now purchase apps and make in-app purchases from Google Play using their mobile balance or postpaid bill. This direct carrier billing...

Veon cuts management in return to traditional telecoms model

On July 2, Veon said it would sell its stake in Italian mobile network Wind Tre for 2.45 billion euros in an exit from Western Europe to pare debt and to take full ownership of its Pakistan and Bangladesh businesses

Axiata to divest 89% stake in Multinet Pakistan for $1

The financial performance of Multinet has been deteriorating over the last few years with the internet service provider (ISP) amassing losses of Rs754 million for the financial year ended December 31st, 2017

Pak-China fibre optic cable set for opening today

The projects total cost is projected at $44 million and 85 percent of the loan has been provided by Exim Bank of China at a discounted rate

VEON eyes to buy GTH’s assets in Jazz for $2.55 billion

Global Telecom’s capital amounts to EGP 2.7 billion distributed over 4.7 billion shares at a par value of EGP 0.58 per share.

Struggling ZTE to unveil new board in step toward U.S ban lift

Shares of China’s No.2 telecommunications equipment maker have cratered 60 percent, wiping out more than $11 billion of the company’s market valuation, since trading resumed earlier this month following a two-month hiatus

China’s ZTE expected to take last step to lift ban: U.S. official

ZTE, which makes smartphones and networking gear, agreed to pay a $1 billion penalty and put $400 million in escrow as part of a settlement it reached on June 7 with the Commerce Department to regain access to the U.S. market, which it needs for components.

Cellular service subscribers surge to 150.3mn

The Pakistan Telecom Authority (PTA) announced on Thursday said that the number of cellular service subscribers across Pakistan have crossed 150 million. PTA Chairman Muhammad...

ZTE shattered as shares lose 30 percent market value this week

ZTE was crippled when the United States imposed a seven-year supplier ban on it in April after it broke an agreement to discipline executives who conspired to evade U.S. sanctions on Iran and North Korea

FBR to propose SC for scrapping 12.5 percent WHT on Rs1,000 balance recharge

In case of this tax remaining suspended in its entirety for the next financial year 2018-19, the overall accumulated losses in terms of revenue across Pakistan would jump to Rs123 billion

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

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Alipay set to commence services in Pakistan by end-2018

Back in March, Alibaba’s Ant Financial said it would invest $184.5million for a 45 percent stake in Telenor Microfinance Bank (TMB), a subsidiary of Telenor Group, to further develop TMB’s mobile payment and digital financial services

The fate of the Taseers

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