Hubco eyes Rs56.5bln to raise stake in coal projects
KARACHI: Hub Power Company (Hubco), the country’s biggest independent power producer, has planned to raise Rs56.5 billion through a mix of bank debts and right issue to increase its equity…
Sunpower secures maiden RMB 34.5 million contract from East China Engineering Science and Technology
SINGAPORE: Sunpower Group Ltd., an environmental protection solutions specialist with a strong focus on expanding into anti-pollution investment projects which generate long-term intrinsic value in the form of recurring income…
Banco Santander to invest over €20 billion in digital and technology over the next 4 years
MADRID: At its Investor Day in London, Banco Santander presented its strategic plan for the medium term to drive growth and increase profitability by accelerating digitalisation, improving operational performance and…
SHC disposes of petition in fans case
KARACHI: A customs appellate bench of High Court of Sindh (SHC) disposed of a petition filed by Syed Muhammad Sons Traders who imported a consignment of fans in completely knocked…
MeGroup to increase stake in its subsidiary operating the Honda dealerships
SINGAPORE: SGX-Catalist listed MeGroup Ltd., through Menang Nusantara Holdings Sdn. Bhd., has entered into binding term sheets to acquire an additional 250,000 ordinary shares in MJN Motors Sdn. Bhd. from…
Moscow based Sistema posts 15.5 percent growth in revenues
MOSCOW: Sistema PJSFC, a publicly-traded diversified Russian holding company, has announced a net profit of RUB 391 million for the quarter ended December 31, 2018 as Group’s revenue increased 15.5…
Used/worn clothing business at EPZ banned to avoid smuggling
KARACHI: The Board of Export Processing Zone Authority (EPZA) has requested the Federal Board of Revenue (FBR) to thoroughly investigate the issue of smuggling and mis-declaration by the used/worn clothing…
BSE witnesses delivery of 1000 MT in the first month of any commodity contract
MUMBAI: Bombay Stock Exchange (BSE) India’s first stock exchange and now world’s fastest exchange with the speed of 6 microseconds has crossed milestone with the first-ever delivery of 1200 MT…
Lonza and Chr. Hansen in JV to accelerate momentum in Microbiome
COPENHAGEN: Chr. Hansen Holding A/S, a leading global bioscience company, and Lonza AG, a leading pharma contract manufacturing company, have signed an agreement to establish a 50/50joint venture to pioneer…
AlNoubay Salem appointed CEO of Widam Food
DOHA: Widam Food, a Qatari shareholding company, has appointed AlNoubay Salem Al Marri as its new Chief Executive Officer (CEO) as of April 3, 2019. Prior to his appointment as…
Medicare Group opens Al Wakra health center
DOHA: Medicare Group has disclosed the official opening of Al Wakra Clinics and Urgent Care Unit.The opening ceremony and ribbon cutting was attended by Sheikh Abdullah Bin Thani Bin Abdullah…
Emirates NBD to buy Turkish Denizbank for lira 15.48 billion
DUBAI: Emirates NBD, Dubai’s biggest bank, has entered into a revised agreement with Sberbank to buy Turkey’s Denizbank, the transaction is expected to be completed by second quarter of 2019.Emirates…
SHC dismiss petitions by accused in money laundering case against transfer
KARACHI: A division bench of High Court of Sindh (SHC) comprising Chief Justice Ahmed Ali M Shaikh and Justice Omar Siyal on Tuesday dismissed a number of identical petitions filed…
SHC to hear petition by hide importer, exporter on May 02
KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Arshad Hussain on Tuesday fixed May 02 to hear a petition filed…
Textile Division envisages 1,000 industrial stitching units
ISLAMABAD: Textile Division has envisaged a project to promote value addition in the textile sector and strengthen small and medium entrepreneurs. The project titled “1,000 Industrial Stitching Units” also aims…
Karandaaz Pakistan partners with National Rural Support Programme for expansion of NRSP Agricultural Processing Company Limited
Islamabad: Karandaaz Pakistan and National Rural Support Programme (NRSP) signed an equity investment agreement for scaling up Agriculture Processing Company Limited (APCL) as an Agriculture value chain proposition for small-holding…
Pakistan’s petroleum products’ sale decline 18pc in March
KARACHI: Pakistan’s petroleum products’ sales declined 18 percent YoY to 1.038 million tons during March 2019, dragged by 50 percent decline in Furnace Oil (FO) and 21 percent drop in…
Pak-Qatar Family Takaful Partners with Smartchoice.pk
Karachi: Pak-Qatar Family Takaful came into an agreement with Smartchoice.pk after a signing ceremony held in Karachi. The agreement will enable Smartchoice.pk to offer Pak-Qatar Family Takaful’s pre-underwritten individual accidental…
MCC JIAP surpasses revenue collection target
KARACHI: MCC Jinnah International Airport (JIAP) has surpassed the revenue collection target in March 2019, highest in its history, due to tiring efforts of admin and staff. MCC JIAP collected…
ASO Preventive seizes smuggled tyres
KARACHI: Anti-smuggling Organization (ASO) of MCC Preventive has seized smuggled tyres, which were bearing Afghan transit stamp. The value of tyres is Rs6.482 million, while the value of containers and…