YUANLIN: Tire maker Cheng Shin Rubber Industry Co yesterday saw its shares drop 4.53 percent after reporting a weaker-than-expected earnings for last quarter. Net profit fell 0.86 percent to NT$3.99 billion in the second quarter from the first quarter, because of higher marketing, and research and development expenses. Earnings per share were NT$1.23, with gross margin of 32.92 percent, the company said in a filing to the Taiwan Stock Exchange. The company reported an annual increase of 0.4 percent in sales for the first seven months of the year to NT$69.96 billion.
Pakistan’s leading oil refineries warn of shutting down production over smuggling
ISLAMABAD: Five of Pakistan’s largest oil refineries on Thursday warned that increasing smuggling of petroleum products is threatening refinery operations...
