Pakistan focussing on oil seed import substitution
ISLAMABAD: PTI Government is focusing on import substitution in the oil seed sector. Different initiatives would be adopted to divert oil seeds import to local farmers so that Pakistan can…
Need for cleaner air driving strong LNG demand growth
KARACHI: Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tonnes to…
KCCI enhances office timings for membership renewal
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has advised all its members to renew their KCCI membership by March 31, 2019 in order to avoid any inconvenience. According…
NBP posts 14pc decline in profits during 2018
KARACHI: National Bank of Pakistan (NBP) unveiled its 2018 consolidated net earnings at Rs 20.04 billion (EPS Rs9.36) versus Rs23.35 billion (EPS Rs10.90) recorded during last year, exhibiting a decline…
Customs Intelligence approaches Supreme Court against Collector Adjudication, High Court
KARACHI: Directorate General of Customs Intelligence & Investigation has filed CPLA before the Supreme Court of Pakistan against the order-in-original passed by Collector Adjudication Asif Marghoob Siddiqui and the interim…
SECMC, IUCN for promotion of biodiversity conservation in Thar
KARACHI: Sindh Engro Coal Mining Company (SECMC) and International Union for Conservation of Nature (IUCN) have signed a Memorandum of Understanding (MoU) aimed at jointly promoting conservation and sustainable management…
OGDC posts 25 percent growth in revenues
KARACHI: Oil & Gas Development Company (OGDC) unveiled its quarter ended December 31, 2018 (2QFY19) profit after tax at Rs30.02 billion (EPS – Rs 6.98) versus Rs19.66 billion (EPS –…
Gas firms perturbed over obstacles to investment
ISLAMABAD: Private gas sector investors are perturbed over unremitting hitches to their investment plans for utilisation of surplus processing capacity of LNG (liquefied natural gas) terminals and setting up of…
Vitol Expects Oil to Rally as OPEC and Venezuela Cause Shortage
The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a “shortage” of the low-quality…
The World’s Biggest Banks Are Doubling Down On Artificial Intelligence
When we think of companies at the forefront of technological innovation, global financial institutions don’t necessarily come to mind. Instead, massive tech giants like Amazon, Apple and Alphabet dominate the…
Even Elon Musk needs a monster mortgage to balance his personal finances
When it comes to cars, tunnels and rockets, Elon Musk thinks big. The same is true for his household finances. The billionaire recently took out $61 million (Dh224m) in mortgages…
Facebook to shut down Onavo app that harvested user data for market research
Facebook will shut down its Onavo VPN app and end its unpaid market research programs in response to the latest privacy scandal involving the social network. An investigative report by…
Silicon Valley based tech giants intend to start operations in Pakistan
KARACHI: Several international companies are evaluating options to invest in Pakistan, while two Silicon Valley based tech companies have expressed intention to start their operations in Pakistan, says Federal Minister…
Karandaaz and Allied Bank Join Hands for developing an Innovative Credit Scoring Model for SMEs
Islamabad: Karandaaz Pakistan under its third round of Innovation Challenge Fund (ICF) has signed an agreement with Allied Bank Limited (ABL) to support the bank for developingan innovative, cash-flow based,…
Kuwait National Day celebrated
KARACHI: The Consul General of the State of Kuwait in Karachi, Muhammad Abdullah Al Khalide, hosted a reception on Thursday, February 21, 2019 to mark the 58th National Day and…
Indus Motor Company posts 6.11pc decline in profits
KARACHI: Indus Motor Company (INDU) has announced a net profit of Rs6.9 billion for the half-year ended December 31, 2018, which is 6.11 percent lower than the profit of Rs7.36…
DFM nurtures culture of innovation amongst employees and participants
DUBAI: As part of its efforts to strengthen its leading position amongst most innovative and smart exchanges in the region and beyond, Dubai Financial Market (DFM) organizes series of brainstorming…
Arabian Pipes Company gets another order from Saudi Aramco
Jeddah: Arabian Pipes Company has been awarded SR 41 million order for the supply of steel pipes to Saudi Aramco. Arabian Pipes Company has been awarded on February 24, 2019…
Saudi Cement Company posts 11.6pc decline in profits
JEDDAH: Saudi Cement Company has announced a net profit of SAR 400.5 million for the year ended December 31, 2018, which is 11.6 percent lower than the profit of SAR…
Al Meera Consumer Goods declares dividend
DOHA: Al Meera Consumer Goods disclosed the consolidated financial statement for the year ended December 31, 2018. The statements show that the net profit clocked in at QR 182.39 million,…