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Standard & Poor’s affirms Pakistan’s ‘B/B’ ratings with stable outlook

ISLAMABAD: The global rating agent Standard & Poor's (S&P) in its report on Monday affirmed Pakistan's 'B' long-term and short-term sovereign credit rating. The outlook for the long-term ratings remains stable. Affirmation of Pakistan's rating reflects that economic prospects remain favourable and external and fiscal metrics of the country will not worsen materially from their current level, reported press information department. Standard & Poor's expect the government of Pakistan to continue its reform…

Nintendo returns to profit on mobile gaming

OSAKA: Nintendo Co Ltd on Tuesday reported its first quarterly profit in a year as its nascent mobile games division started to bring in revenue, though not enough to prevent weak console software sales dragging down its annual earnings forecast. The result comes just six weeks after the Japanese games maker released its first own-brand smartphone title, Super Mario Run, having bowed to investor pressure in 2015 to enter the mobile market. While the quarterly profit was just reward for the move, a one-third cut to its…

Pentagon official cites concern about business outlook for ULA

WASHINGTON: A senior Pentagon official on Friday expressed concerns about Aerojet Rocketdyne Holding Inc’s reported $2 billion bid for United Launch Alliance (ULA), a 50-50 rocket launch venture of Lockheed Martin Corp and Boeing Co, and said the deal would require a careful review.