Credit ratings of Palms Insurance Company affirmed
OLDWICK: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Palms Insurance Company, Limited (Palms) (George Town, Cayman Islands).…
Crackdown on unregistered medicine launched; doctors may also come under the scope
ISLAMABAD: Federal Minister of Health, Aamer Mehmood Kiyani has advised Drug Regulatory Authority of Pakistan (DRAP) to take strict action against counterfeit and smuggled medicine available in the country. “The…
TMG, GB Capital and EFG Hermes to launch mortgage finance company
CAIRO, EGYPT: Three of Egypt’s leading publicly traded companies have entered into an agreement to create a mortgage finance joint venture serving Egypt’s large, growing population of homebuyers. The three…
SHC reply from IRS, custom officials in petitions challenging blocking of bank accounts
KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Wednesday asked IRS, Pakistan Customs to reply that under…
SHC orders release of 5 consignment of donated items in two days
KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Wednesday allowing a petition filed by Sahara Welfare…
Jewelers oppose ban on jewelry through credit/debit cards
KARACHI: The Chairman Pakistan Gems Jewellery Traders and Exporters Association Akhtar Khan Tessori has taken a serious note of a recent news item about FATF’s recommendations to the Government of…
First revenue contract for PowerHouse Energy
LONDON: PowerHouse Energy Group (PHE), the UK technology company pioneering hydrogen and clean energy production from waste plastic, has signed a binding contract with its exclusive partner, Waste2Tricity Limited (W2T),…
Polymetal becomes first foreign issuer to list on the Astana International Exchange
LONDON: Polymetal International has announced that its ordinary shares have been listed on the recently launched Astana International Exchange (AIX) in Kazakhstan, which makes Polymetal the first foreign issuer to…
Learning Technologies acquires Breezy HR for initial cash consideration of USD 12 million
LONDON: Learning Technologies Group plc, the leading integrated digital learning and talent management services and technologies provider, has acquired Breezy HR for initial cash consideration of USD 12 million to…
Anti-dumping duty by South Africa hurt cement exports
KARACHI: Chairman Pakistan-South Africa Business Forum (PSABF) Mohammad Rafiq Memon has said that Pakistan’s cement exports to South Africa have suffered terribly during the last couple of years because of…
Intel to exit 5G Smartphone modem business
SANTA CLARA–(BUSINESS WIRE)–Intel Corporation has announced its intention to exit the 5G smartphone modem business and complete an assessment of the opportunities for 4G and 5G modems in PCs, internet…
Saudi Mobile Telecommunication Company posts profits in Q1/2019
RIYADH: Mobile Telecommunication Company Saudi Arabia (ZAIN) KSA continues to record net profit for the third consecutive quarter as well as increase in revenue quarter over quarter. ZAIN KSA reported…
Abu Dhabi Exchange hosts French Business Group to discuss investment opportunities
ABU DHABI, UAE: Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, recently hosted a delegation from the French Business Group-Abu Dhabi in which the operational framework, vision, mission,…
SME association welcomes forming of SME Pakistan Forum
KARACHI: The Union of Small and Medium Enterprises (UNISAME) has appreciated State Bank of Pakistan (SBP) on expansion of the 3S group comprising of SBP, SMEDA and SECP as SME…
Customs Intelligence Karachi expedites efforts to plug revenue leakage
KARACHI: Directorate of Customs Intelligence & Investigation Karachi has made several cases involving recoverable revenue of Rs335.301 million during March 01 to April 15, 2019 and also affected recovery of…
Sharjeel Jamal called for hearing at MCC Port
KARACHI: Collector MCC Port Qasim Mumtaz Khoso admitted the complaint of corruption at MCC Port Qasim submitted by Sharjeel Jamal of UTrade Logistics Pvt Ltd and scheduled a hearing in…
Gulf Warehousing Company establishes subsidiary in India
DOHA: Gulf Warehousing Company (GWC) has announced the establishment of its subsidiary in India, LEDD Technologies India Private Limited, which was established on April 3, 2019. Gulf Warehousing Company (GWC)…
Rift develops between FBR and FTO
KARACHI: A rift has developed between the Federal Board of Revenue (FBR) and Federal Tax Ombudsman (FTO) after the FTO advised FBR to nominate BS-19-20 officer for the Inspection Team…
Emirates NBD posts 15% growth in profits for Q12019
DUBAI: Emirates NBD, a leading bank in the region, delivered a strong set of results with net profit up 15% y-o-y and 15% q-o-q to AED 2.7 billion for the…
Agility’s subsidiary awarded US$166 million contract
DUBAI: Agility Public Warehousing Company has announced that its 65% owned subsidiary Tristar, specializing in fuel logistics, has signed a 5-year firm plus 5-year (optional) charter contract with Shell for…