CORPORATE WATCH

Mobilink, Twitter enter partnership

KARACHI: Mobilink has joined hands with Twitter to accelerate internet usage in Pakistan and to enable its users share ideas and information instantly through Twitter’s mobile services, said a press release on Thursday. As part of the partnership, Mobilink users will not incur any data charges on Twitter usage for a limited time period, it added.

Topline Securities wins eight awards

KARACHI: Topline Securities has been ranked as the ‘Best brokerage firm in Pakistan’ for the year 2014, according to Asiamoney’s latest poll.

The brokerage was the first in Pakistan to get this award for the fourth consecutive year. Out of 12 awards for Pakistan, it won eight awards for the year.

Apple, Xiaomi trade smartphone barbs in China

WUZHEN: Top executives from US technology giant Apple and Chinese smartphone upstart Xiaomi traded light-hearted barbs on Thursday at a Chinese Internet conference, acknowledging the fierce competition between the rivals.

Apple stood in sixth place in China’s smartphone market with only a 6.9 per cent share in the March-June period while Xiaomi ranked second with 13.5pc.

Bruce Sewell, Apple’s general counsel and senior vice president of legal and government affairs, told a panel discussion at the World Internet Conference that there are “many good competitive phones in China” in a nod to Xiaomi founder Lei Jun, sitting alongside him.

But when asked about Lei’s previous claims that Xiaomi will become the world’s market leader in smartphones, he said: “It is easy to say, it is more difficult to do,” to laughter and applause from the audience in Wuzhen. Lei shot back: “In this magic land, we produced not only a company like Alibaba, but a small miracle like Xiaomi.”—AFP

BNP Paribas reorganises investment banking

PARIS: French bank BNP Paribas said on Thursday it was reorganising its corporate and investment banking activities to fold securities services into the division and bring equities and fixed-income activities closer together. The shake-up, which the bank said was to adapt to regulator changes and clients’ shifting needs, comes as the division tries to move on from a US sanctions violations case earlier this year that cost the bank nearly $9 billion.