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RAWALPINDI: The State Bank of Pakistan (SBP) on Tuesday announced that it will issue fresh currency notes to general public from June 1 to exchange with old ones for Eid-ul-Fitr celebrations. The SBP in collaboration with Pakistan Banks Association (PBA) set up SMS short code 8877 for issuing fresh currency notes, which will be issued during June 1 to 14. According to a notification issued here, a person intending to get new currency notes would send message to 8877 along with his CNIC number and branch code of selected bank. The system will respond with sending transaction number and branch address. Charges of sending an SMS to 8877 are Rs. 15 (plus tax). Under the SMS service, each CNIC number and mobile phone number can only be used once. No transaction code will be issued to senders if they send same CNIC/smart card number from different mobile numbers or addresses. A help desk has also been established at (021)- 111-008-877 to entertain queries/complaints of general publ...

Boeing and Airbus will lose contracts worth roughly $39 billion to replenish Iran’s aging fleet of commercial planes as part of the Trump administration’s reimposition of sanctions. “The Boeing and Airbus licenses will be revoked,” Treasury Secretary Steven Mnuchin told a group of reporters Tuesday. “The existing licenses will be revoked.” The aircraft sales were among the most sought-after contracts for Iran. In December 2016, Airbus Group signed a deal to supply national carrier Iran Air with 100 airplanes for around $19 billion at list prices. It has delivered three planes so far, the first new aircraft acquired by Iran in 23 years. Boeing later inked a deal with Iran Air for 80 aircraft with a list price of about $17 billion, promising that deliveries would begin in 2017 and run until 2025. The company separately struck a 30-airplane deal with Iran’s Aseman Airlines for $3 billion at list prices. No deliveries have been made yet. Gordon Johndroe, a Boeing vice pre...