Business community denounce fuel price hike
KARACHI: Government raised the fuel prices by up to 6.45 percent for April, which follows 50bps hike in interest rates and an ongoing currency devaluation cycle; the move has invited…
SBP launches Electronic Money Institutions Regulations
KARACHI: The State Bank of Pakistan (SBP) held Monday the launching ceremony of regulations of Electronic Money Institutions (EMIs) in Islamabad. Federal Minister for Finance, Revenue and Economic Affairs, Asad…
Foreign currency buying selling rates
KARACHI: The foreign currency buying selling rates as on April 01, 2019 as issued by Forex Association of Pakistan. US Dollar (Inter-bank) – Buying at Rs140.87 and Selling at Rs140.97.…
Customs’ revenues decline as government policies hurt legal imports
KARACHI: MCC Appraisement East and MCC Appraisement West have reported a plunge of 11 percent and 8.0 percent, respectively in March 2019, as the legal imports have been reduced considerably…
Bombardier signs firm purchase agreement for Six Q400 Turboprops
TORONTO: Bombardier Commercial Aircraft has announced that a customer, who has requested to remain unidentified at this time, has signed an order to acquire six new Q400 aircraft. Based on…
Centurion Corp recognised at the international Le Fonti Awards 2019
SINGAPORE: Centurion Corporation Limited, which owns, develops and manages quality specialized accommodation assets, has been conferred two regional awards – the Best Provider of The Year, Customised Accommodation Management Services…
Rolls-Royce completes sale of Commercial Marine Business
LONDON: Rolls-Royce has confirmed the completion of the sale of its Commercial Marine business to KONGSBERG of Kongsberg, Norway, which took place on April 01, 2019. “Net proceeds after transaction…
MCC Quetta seizes large quantity of narcotics
QUETTA: MCC Quetta has filed a bid to smuggle narcotics and seized 89KG of charas/hashish worth millions of rupees at Yaro Check Post, as the Customs Enforcement is observing a…
Pakistan’s fertilizer manufacturers post profit growth of 41% in 2018
KARACHI: Fertilizer manufacturers in Pakistan posted cumulative rise of 41% in their earnings during 2018 due to increase in urea prices by around Rs300-330 per bag to Rs1,730 per bag.…
HGS strengthens global executive leadership team
BANGALORE: Hinduja Global Solutions (HGS), a global leader in business process management, has announced senior leadership appointments, aligned to support the company’s vision and growth agenda. Natarajan Radhakrishnan (Nat) has…
De La Rue awarded digital tax stamp solution contract by the Kingdom of Saudi Arabia
BASINGSTOKE, UK: De La Rue, the world’s premier security solutions provider, has announced that it has signed a five year contract with the General Authority of Zakat and Tax (GAZT)…
Smith & Nephew acquires Leaf Healthcare
LONDON: Smith & Nephew plc, the global medical technology business, has agreed to acquire Leaf Healthcare, Inc, the developer of the unique Leaf Patient Monitoring System for pressure injury prevention…
Marsh & McLennan completes $5.6bn acquisition of Jardine Lloyd Thompson
LONDON: Marsh & McLennan Companies, Inc. has completed the acquisition of Jardine Lloyd Thompson Group plc (JLT) for $5.6 billion in fully diluted equity value, furthering its role as the…
Helios Towers signs agreement to create South African telecommunications infrastructure platform
LONDON: Helios Towers Ltd, the independent telecoms tower infrastructure company, has completed the previously announced partnership agreement with Vulatel (Pty) Ltd to create a South African telecommunications infrastructure platform, Helios…
CIMIC’S CPB Contractors wins NZ$ 221 million Christchurch Metro Sports Facility
SYDNEY: CIMIC Group’s company CPB Contractors has been selected by Ōtākaro Ltd to deliver the Christchurch Metro Sports Facility, the largest aquatic and indoor recreation and community venue in New…
Teckwah to acquire 70% stake in Profoto Digital Services for S$13 million
SINGAPORE: Teckwah Industrial Corporation Ltd has entered into a Share Sale and Purchase Agreement to acquire 70 percent shares in the issued and paid-up share capital of Profoto Digital Services…
Avation Plc delivers fourth new Airbus to airBaltic
SINGAPORE: Avation PLC, the commercial passenger aircraft leasing company, has acquired and leased its fourth new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier. The 12-year lease for the…
Pakri Barwadih Coal Mine commences commercial operations
MUMBAI: NTPC Limited, a government of India enterprise, has officially commenced commercial operation of Pakri Barwadih Coal Mine, a notice issued to Bombay Stock Exchange (BSE) said on Monday. NTPC…
IndoStar executes acquisition of Infoline’s commercial vehicle finance business
MUMBAI: IndoStar Capital Finance Limited has executed closing agreement for the acquisition of commercial vehicle finance business of India Infoline Finance Limited at a net purchase consideration of Indian Rs2.419…
Profits of Qatar Stock Exchange listed companies surge 7.17% in 2018
DOHA: Forty-five out of forty-six companies listed on Qatar Stock Exchange (QSE) have disclosed their annual financial results for the year ended on December 31, 2018, during which the net…