SHC issues notice for May 22
KARACHI: A customs appellate bench of High Court of Sindh (SHC) ordered Pakistan Customs to deposit the securities encashed but East Collectorate. The bench was hearing a petition filed by…
Vodafone Qatar continues investing in its wireless network through a strategic partnership with Huawei
DOHA, QATAR: Vodafone Qatar and Huawei have entered into a strategic agreement to significantly expand and enhance Vodafone Qatar’s entire wireless network infrastructure including a large scale 5G technology rollout.This…
World’s first production blockchain ecosystem for the asset management industry launched by FNZ
LONDON: FNZ UK Limited, a global FinTech firm, has partnered with a consortium of global fund managers, including Aberdeen Standard, Equity Trustees Fund Services, Kames Capital, Legg Mason and Merian…
New project launched to boost European marine and coastal economies by maximising research impact
LISBON: An exciting new project from the European Union’s (EU) INTERREG Atlantic Area funding programme will focus on assisting academics to transfer knowledge from their research in order to create…
Drake & Scull deliberately defer announcement of losses for the years 2009-2016
DUBAI, UAE: Commenting on the recent news circulating in the media, Drake & Scull International announced in a press statement that the 2018 losses disclosed to the market are the…
Five international S-REITs returned 24% in 2019 YTD
SINGAPORE: There are 34 Real Estate Investment Trusts (REITs), five stapled trusts and three property trusts listed on Singapore Exchange (SGX). The sector has a combined market capitalisation of nearly…
Singapore Airlines Limited and SATS ink five-year commitment to enhance Singapore hub
SINGAPORE: Singapore Airlines Limited (SIA) and SATS Ltd. announced their commitment to strengthen hub competitiveness with the renewal of a suite of aviation services contracts for the next five years.Commencing…
Murray Energy completes acquisition of Oak Grove, Seminole Alabama and Maple Eagle Mining Complexes
CLAIRSVILLE–(BUSINESS WIRE)–Murray Energy Corporation and its newly formed majority owned unrestricted subsidiary company, Murray Metallurgical Coal Holdings, have successfully closed the transaction approved by the United States Bankruptcy Court for…
Gross Refining Margins up 29% in April 2019
KARACHI: During April 2019, Gross Refining Margins (GRMs) averaged US$9.56/bbl, marking an increase of US$2.07/bbl or 29 % YoY. GRMs during the month trended upwards as Motor Gasoline (MS) and…
Hub Power Company posts 8% growth in profits for Q1 2019
KARACHI: Hub Power Company Limited (HUBCO) has announced its 3QFY19 ended March 31, 2019 financial results wherein the company posted consolidated profit after tax of PKR 3.33 billion translating into…
Pakistan Petroleum Limited posts 27% growth in profits for Q1 2019
KARACHI: Pakistan Petroleum Limited (PPL) unveiled its 3QFY19 ended March 31, 2019 profit after tax at PKR 14.21 billion translating into earning per share (EPS) of PKR 6.27 versus profit…
SHC suspends demand notices for Sales Tax, hearing after 2 weeks
KARACHI: A custom appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Monday suspended demand notices issued to the importer…
SHC issue contempt notices to custom authorities in petition by Tayyeb Corporation
KARACHI: The contempt of court notices were issued for May 20 against customs officials of East and West Collectorate on Monday by a customs appellate bench of High Court of…
K-Electric signs agreement with CMEC for the development of 700MW power plant
KARACHI: K-Electric, Pakistan’s only vertically integrated power utility has signed an agreement with the state-owned China Machinery Engineering Corporation (CMEC) for the development a state-of-the-art 700MW Independent Power Producer (IPP)…
Weak growth in Pakistan weighs on the region’s aggregate growth rate: IMF
KARACHI: In the best of times, countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region would face a formidable task of creating jobs for the millions of…
Nestlé Pakistan announces 32.8% decline in profits
KARACHI: Nestlé Pakistan Limited recorded sales of PKR 29.1 billion for the first quarter ending March 2019, a decrease of 9.0% over the same period of last year on comparable…
BioMiracle launches skincare product line in Karachi
KARACHI: The quality skincare brand, BioMiracle, launched exclusively today at a private gathering in Karachi, star-studded with prominent socialites, celebs and models. The evening kick-started with a bustling Red Carpet…
Amreli Steel posts loss in Q1 2019
KARACHI: Amreli Steel Limited (ASTL) unveiled its 3QFY19 ended March 31, 2019 financial results wherein the company’s loss after tax clocked-in at PKR 293 million translating into loss per share…
Hascol Petroleum posts 8% percent decline in profits
KARACHI: Hascol Petroleum Limited (HASCOL) unveiled its 1QCY19 ended March 31, 2019 financial results wherein the company recorded profit after tax of PKR 675 million translating into earning per share…
UOB, SGX and CCOIC sign MOU to help Chinese enterprises use Singapore as a launchpad for ASEAN expansion
SINGAPORE: United Overseas Bank Limited (UOB), Singapore Exchange Limited (SGX) and the China Chamber of International Commerce (CCOIC) have signed a Memorandum of Understanding (MOU) to help Chinese enterprises use…