OGDCL’s profit up 50 percent to Rs85 billion
KARACHI: Oil and Gas Development Company Limited (OGDCL) recorded a 50 percent year-on-year increase in its profit to Rs85.3 billion for the nine months period ended on March 31, 2019,…
Large quantity of contraband and counterfeit goods destroyed
KARACHI: the Customs authorities destroyed large quantity of contraband and counterfeit products seized by Anti-smuggling Organization (ASO) of MCC Preventive and Directorate of Intellectual Property Rights (IPR) Enforcement.MCC Preventive held…
Pakistan’s equities remain volatile over economic concerns
KARACHI: Pakistan Stock Exchange (PSX) witnessed a mixed trend during the week. The sentiment amongst investors remained suppressed amid concerns over the IMF Program, Budget FY20 and macro-economic challenges since…
Beautyworld Middle East concludes in Dubai; 25 Pakistani exhibitors participated
KARACHI: Beautyworld Middle East concluded on Wednesday, April 17, 2019 at the Dubai International Convention and Exhibition Center witnessing a huge participation from Pakistan with as many as 25 premium…
SHC issues notice for May 08 in plastic scrap case PMBQ custom authorities
KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfikar Ahmed Khan on Thursday directed the custom officials of Port Muhammad…
Engro Corporation announces PKR 7.5 billion investment in telecom infrastructure sector
KARACHI: Engro Corporation has announced PKR 7.5 billion investment in telecommunications infrastructure sector, initiation of a detailed feasibility study to set up a polypropylene facility and gets Board’s nod to…
Appellate Tribunal resorts to harassment and threatening Customs officials
KARACHI: The Customs Appellate Tribunal Karachi is allegedly over-stepping its boundaries harassing and threatening the Customs officials and forcing the officials to do things, which cannot be considered legal.According to…
Engro Corporation announces launch in telecom infrastructure sector following Q1 results
Karachi: Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the first quarter ended March 31st, 2019, at a meeting held yesterday at the Engro Leadership Academy.…
Dispute between FBR and SRB burdening textile contract manufacturers with double taxation
KARACHI: The dispute over jurisdiction of levy and collection of sales tax in between federal and provincial government has left textile sector toll/contract manufacturers in a fix, as both Federal…
AM Best revises outlooks to positive for Kentucky Growers Insurance Company
OLDWICK: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Kentucky…
AM Best revises outlooks to positive for NLV Financial Corporation and its insurance subsidiaries
OLDWICK: AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+”…
Bank Al Habib’s earnings remain flat in Q1 2019
KARACHI: Bank Al-Habib Limited (BAHL) unveiled its 1QCY19 ended March 31, 2019 consolidated net earnings at PKR 2.05 billion translating into earning per share (EPS) of PKR 1.85 versus profit…
Shanghai Electric signs MOU with Saudi’s ACWA Power to co-develop global solar projects
DUBAI, UAE – PRNewswire — Shanghai Electric Group Co., Ltd., a leading multinational power generation and electrical equipment manufacturing conglomerate, has signed a Memorandum of Understanding (MOU) to collaborate with…
Health, safety, environment laws available but enforcement too weak
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Junaid Esmail Makda has said that some of the crucial laws on Health, Safety & Environment have been enacted since 1974,…
K-Electric launches mobile app, web portal for customers
KARACHI: Adding yet another avenue for customer service K-Electric has launched the KE Live app for its consumers. The app, which allows access to a variety of services, is available…
SHC stays auction of imported vehicles
KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Wednesday stayed auction of hundreds of vehicles scheduled…
Businessmen, traders rush to court as tax collectors raise demands
KARACHI: The appellate bench of High Court of Sindh hearing cases of income tax etc was seized with dozens of fresh petitions against tax departments particularly Sindh Revenue Board which…
SHC orders release of Toyota Surf
KARACHI: A customs appellate bench of High Court of Sindh (SHC) on Wednesday ordered provisional release of a Toyota Surf vehicle while hearing a constitution petition filed by its owner…
25th Senior Management Course participants visit FBR
ISLAMABAD: The trainee officers of 25th Senior Management Course, National Management College, Lahore visited FBR on Wednesday and got a detailed briefing on the functioning and performance of Federal Board…
Pakistan’s overall fertilizer sales decline 6.0% in March 2019
KARACHI: National Fertilizer Development Center (NFDC) released fertilizer data for the month of March 2019 wherein total fertilizer off-takes clocked-in at 540k tons, depicting a decline of 6% YoY.Industry urea…