Pakistan’s locally assembled automobiles’ sales up 2% in March
KARACHI: Pakistan’s locally assembled auto sales are up by 2% YoY in Mar 2019 (+16% MoM) led by higher sales from Pak Suzuki Motor Company (PSMC). In 9MFY19 (July –…
AM Best affirms credit ratings of Sun Hung Kai Properties Insurance Limited
HONG KONG: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Sun Hung Kai Properties Insurance Limited (SHKPI) Hong…
AM Best affirms credit ratings of Protective Life 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 the primary life insurance subsidiaries of…
Porta Communications and SEC Global evaluate all-share merger of the two companies
LONDON: The Boards of Porta Communications Plc and SEC Global have entered into discussions concerning a potential all-share merger of the two companies. The Potential Merger would create a strategic…
Cleaning chemicals companies’ merger M&p
LONDON: Ecolab’s purchase of Holchem raises competition concerns in relation to cleaning services for food, drink and dairy businesses. The Competition and Markets Authority (CMA) has been investigating Ecolab’s acquisition…
Tata Motors Group global wholesales decline 5% in March 2019
MUMBAI: The Tata Motors Group global wholesales in March 2019, including Jaguar Land Rover, were at 1,45,459 units, lower by 5%, as compared to March 2018. Global wholesales of all…
Overseas Pakistanis remit US $16.1 billion in the first nine months of FY19
KARACHI: Overseas Pakistani workers remitted US $16096.33 million in the first nine months (July to March) of FY18, showing a growth of 8.74 % compared with US $14802.96 million received…
SGX’s Real Estate Developers sector attract net institutional inflows of S$25.9 million in March
SINGAPORE: The Real Estate Developers sector at Singapore Exchange (SGX) saw strong investor interest in March 2019, with net institutional inflows of S$25.9 million. It was a net buy sector…
Foreign currency buying selling rates
KARACHI: The foreign currency buying selling rates as on April 10, 2019 as issued by Forex Association of Pakistan. US Dollar (Inter-bank) – Buying at Rs141.37 and Selling at Rs141.47.…
BankIslami Pakistan signs MOU with NUST
KARACHI: BankIslami Pakistan Limited, one of the leading Islamic Banks in the country, has signed a Memorandum of Understanding (MOU) with National University of Sciences & Technology (NUST), one of…
FPCCI Budget Proposals recommend cascading and rationalization of Customs tariff
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed cascading and rationalization of Customs tariff to promote industry and provide them with a level playing field.Speaking…
Lucky Cement Awarded MAP’s Corporate Excellence Award
Karachi: Lucky Cement Limited (psx: LUCK) won the Management Association of Pakistan’s Corporate Excellence Award in the Cement Sector category. Syed Noman Hasan, Executive Director of Lucky Cement Limited received…
PowerHouse’s development partner agrees lease for hydrogen development site
LONDON: PowerHouse Energy Group plc, the UK technology company pioneering hydrogen and clean energy production from waste plastic, has announced that its development partner, Waste2Tricity Limited (W2T), has concluded negotiations…
Ilika launches solid-state batteries enabling miniaturisation in MedTech
LONDON: Ilika Plc, a pioneer in solid-state battery technology, has announced the launch of Stereax® M50 mm-scale solid-state batteries designed for medical implants. The Stereax M50 takes solid-state batteries to…
Centaur agrees sale of travel and meetings exhibitions to Northstar
LONDON: Centaur Media Plc, an international provider of business information and specialist consultancy, has entered into a conditional agreement to sell Centaur Media Travel and Meetings Limited (CTM), the owner…
Seeing Machines win automotive deal with Joyson for US OEM
SYDNEY: Seeing Machines, the advanced computer vision technology company that designs AI powered operator monitoring systems to improve transport safety, has been appointed by Joyson Safety Systems (JSS) to provide…
Tharcoal Block- II PROJECT BACKGROUNDER Energy security for Pakistan and a model for inclusive development
Contextualizing the energy crisis in Pakistan. With a rising population and an expanding economy, Pakistan’s energy needs have outpaced its national energy supply. Exacerbating the demand-supply gap is Pakistan’s unsustainable…
EU foreign investment screening regulation enters into force
BRUSSELS: The new EU framework for the screening of foreign direct investments has officially entered into force on 10 April 2019. The new framework is based on proposal tabled by…
Emirates NBD sells stake in Network International for GBP 554.5 million
DUBAI, UAE: Emirates NBD Bank has confirmed the sale of 127.474 million ordinary shares from its shareholding in Network International through a secondary listing of Network International’s shares on the…
JV formed to expand Ted Baker brand in Mainland China, Hong Kong and Macau
GLASGOW, UK: Ted Baker, the global lifestyle brand, has entered into an agreement with Shanghai LongShang Trading Company Ltd. (LS) to create a Joint Venture (JV) in Mainland China, Hong…