OPINION: Bumpy road ahead for PTI government
Imran Khan may not have ever imagined that ruling Pakistan is so difficult as from the first day in Prime Minister’s office, the cricketer turned politician, having no experience of…
Negative Outlook on U.K. non-life market maintained
LONDON: AM Best has maintained a negative market segment outlook on the U.K. non-life insurance market, supported by key factors that include persistent pressure on operating performance due to strong…
AM Best affirms credit ratings of General Reinsurance Corporation and its subsidiaries
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” of General Reinsurance Corporation (headquartered in Stamford,…
AM Best affirms credit ratings of Qatar Islamic Insurance Company
DOHA: A.M. Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of “BBB+” of Qatar Islamic Insurance Company Q.S.C. (QIIC). The outlook of these…
Chubb Arabia Cooperative Insurance posts profit
RIYADH: Chubb Arabia Cooperative Insurance Company has announced a net profit of SAR 44.49 million for the year ended December 31, 2018, which is 18.1 percent higher than the profit…
Al-Ahlia Insurance posts profit growth
RIYADH: Al-Ahlia Insurance Company has announced a net profit of SAR 15.815 million for the year ended December 31, 2018, which is 51.8 percent higher than the profit of SAR…
Bahrain Aluminum Extrusion Company selling 50% stake in Technal Middle East
DUBAI: GFH Financial Group’s industrial portfolio company Bahrain Aluminum Extrusion Company has signed an agreement to sell its 50 percent stake in Technal Middle East to Hydro Extruded Solutions for…
Al Ramz in advanced stage to acquire a UAE domiciled financial institution
DUBAI, UAE: Al Ramz Corporation Investment & Development (Al Ramz) has announced entering an advanced stage of negotiations to acquire an operational financial institution in UAE and is in the…
Formation of new Directorate Generals by FBR criticized
KARACHI: The Federal Board of Revenue (FBR) has formed three new Directorates General as part of restructuring campaign, which include Directorate Generals of International Tax Operation, Directorate General of Input…
CETA Trade and Gender workshop on April 01
BRUSSELS: The European Commission and the Mission of Canada to the European Union are organising a Comprehensive Economic and Trade Agreement (CETA) Trade and Gender Workshop on April 01, 2019.…
Pakistan’s equities gain 0.3pc on Chinese inflows
KARACHI: Inflow of US$ 2.1 billion from China and flexibility shown by International Monetary Fund (IMF) on economic benchmarks for the bailout package provided a breathing space to the equity…
Seaspan moves forward with Swiber Group investment
SINGAPORE: Swiber Holdings Limited, as part of its restructuring, signed an investment agreement on March 29, 2019 with Seaspan Corporation in relation to a proposed investment by Seaspan of up…
MIDHANI’s Rohtak Armouring Unit to be operational by December 2019
NEW DELHI: The Rs500 million Armouring Unit being setup at IMT, Rohtak by Mishra Dhatu Nigam Limited (MIDHANI), a government of India enterprise, will be operational by December 2019, a…
KCCI’s membership department to remain open on Sunday
KARACHI: The Membership Department of Karachi Chamber of Commerce & Industry (KCCI) will remain open on Sunday from 11:00AM to 5:00PM for membership renewal only as March 31st 2019 is…
State Bank of Pakistan increases policy interest rate by 50bps to 10.75 percent
KARACHI: The State Bank of Pakistan (SBP) has increased the policy interest rates by 50 bps to 10.75 percent effective April 01, 2019.According to Monetary Policy Statement issued by the…
SHC to hear reference, petition on April 14
KARACHI: A Special Custom Reference Application (SCRA) and a constitution petition pertaining to alleged evasion of duty and taxes worth rupees 6 million will be heard by a custom’s appellate…
Telenor becomes authorized distributor of Alibaba Cloud products
KARACHI: Telenor Pakistan has partnered with Alibaba Cloud, the cloud computing arm of Alibaba Group, to become the authorized distributor of Alibaba Cloud products and services in Pakistan. The signing…
Realm completes assets disposal for US $10 million
MALVERN: Realm Therapeutics plc has announced the completion of its previously announced assets disposal representing certain assets, which comprise the Vashe wound care royalty stream, an FDA 510(k)-cleared anti-itch hydrogel,…
Foreign currency buying selling rates
KARACHI: The foreign currency buying selling rates as on March 29, 2019 as issued by Forex Association of Pakistan. US Dollar (Inter-bank) – Buying at Rs140.73 and Selling at Rs140.83.…
Exyte honored ‘Excellent Supplier of the Year’ by HLMC
SHANGHAI: Exyte, the global leader in the design, engineering and construction of high-tech facilities, plants and factories, received the “Excellent Supplier of the Year” Award from Shanghai Huali Microelectronics Corporation…