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SBP moves into action against skimming incidents, assures customers of compensation

KARACHI: Taking notice of the skimming incidents in Karachi, the State Bank of Pakistan (SBP) on Tuesday assured customers that relevant bank of the ATM where their data was compromised would fully compensate them. During the preceding week, the central bank noted with concern that customers’ information on debit cards of Habib Bank Limited was compromised by hackers through skimming to create its clones and were used to withdraw depositor’s money from various locations within and outside the country, said a release…

Rizwan joins Karachi Kings, Sohail moves to Qalandars

Karachi Kings have traded the agile wicket-keeper batsman Mohammad Rizwan from Lahore Qalandars against the right-arm fast bowler Sohail Khan for the PSL 3. Sohail Khan was the pick of the bowler in the second edition of the Pakistan Super League as he ended the tournament with the highest number of wickets (16). Mohammad Rizwan, on the other hand, scored 132 runs in eight matches he played for Lahore Qalandars. Read More: PSL franchises unveil names of retained players Karachi Kings ended the tournament at fourth,…

India moves to set up industrial parks with China

NEW DELHI:  India has moved a step closer to establishing industrial parks with China, the law minister said on Wednesday, as New Delhi looks to rebalance a $40 billion trade deficit with its northern neighbour. Ravi Shankar Prasad told reporters that India's cabinet had approved in principle a memorandum of understanding between the two countries for setting up the parks. The details of the agreement would be available only after the memorandum was signed, Prasad said, but the expectation is that China will invest in…