Hubco raises Rs7.0bn in one of the largest right issue at PSX
KARACHI: Hub Power Company Limited (HUBCO) has raised Rs7.0 billion in the country’s largest ever right issue at Pakistan Stock Exchange (PSX). The right issue is priced at Rs50/ share…
Intelligent Ultrasound signs first OEM partner agreement for its AI based imaging software
LONDON: Intelligent Ultrasound Group, the artificial intelligence (AI) based ultrasound software and simulation company, has signed its first long-term licence and co-development agreement for its AI software with one of…
Everbright Water secures three environmental protection projects
HONG KONG: China Everbright Water Limited, an environmental protection company focusing on water environment management, has recently secured three projects, namely: Liaoning Dalian Pulandian Reusable Water Project, Inner Mongolia Tongliao…
Advanced Petrochemical announces resignation of its CEO and appointment of a new CEO
RIYADH: Advanced Petrochemical Company announced that its Chief Executive Officer (CEO), Eng. Abdullah M. Al Garawi, has submitted his resignation to be effective from 16th August 2019, as he is…
Comprehensive crackdown launched against tax evaders, smugglers and trade bodies
KARACHI: The Federal Board of Revenue (FBR) has finalized arrangements as a massive crackdown is planned against tax evaders, traders involved in smuggling and trade bodies blackmailing the authorities through…
Pakistan finalizes policy amendments to attract foreign investors ahead of fresh exploration blocks auction
KARACHI: Pakistan government has finalized modifications in the Petroleum Policy to attract foreign companies, which would be affected in the next three to four months; and soon after that 35…
FBR swoops on benami assets as amnesty ends
ISLAMABAD: The Federal Board of Revenue (FBR) has started crackdown against Benami property holders and attached billions of rupees assets one day before expiry of the Pakistan Tehreek-e-Insaf (PTI) government’s…
ECC approves amendment in PQA master plan to accommodate 3rd LNG terminal
KARACHI: The Economic Coordination Committee (ECC) of the Cabinet has approved the amendment in the Port Qasim Authority (PQA) master plan to accommodate the prospective 3rd LNG terminal proposed to…
IMF approves $6bn extended fund facility for Pakistan
KARACHI: IMF has approved US$6 billion 39-month Extended Fund Facility Arrangement for Pakistan. As much as US$1 billion will be released immediately. The program will help Pakistan to reduce economic…
SECP issues draft Collateral Management Companies Regulations, 2019
ISLAMABAD: In order to promote electronic trading and warehouse receipt financing of agricultural commodities, the SECP has formulated draft Collateral Management Companies Regulations, 2019 under the Companies Act, 2017. Any…
Tax rate for token payment & registration of cars not changed
KARACHI: Federal Board of Revenue (FBR) has strongly rebutted the perception that rate of tax has been changed in the Financial Budget-2019 for the token payment and registration of cars.…
Government gets Rs50bn as 131,000 persons take benefit of PTI’s Amnesty Scheme
KARACHI : As per provisional numbers, about 131,000 people have registered so far under the Asset Declaration Scheme 2019. About 91,000 people have disclosed their assets, while remaining 40,000 registered…
FPCCI appreciates mutual consultation to implement axle load
KARACHI: Engr. Daroo Khan Achackzai, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) appreciated consultative process to implement Axle Load on National Highways to carry goods. President FPCCI…
PIA to commence Hajj operations from July 5, 2019
KARACHI: PIA Pre-hajj operation of transporting intending pilgrims to Saudi Arabia from Pakistan will commence from July 5, 2019. PIA will transport more than 78,000 intending pilgrims to Saudi Arabia…
Retired custom officer becomes top achiever in LLM exams
KARACHI: Shahenshah Hussain, a retired custom officer secured 3.67 GPA in LLM exams to join the rank of high achievers at an advance age. He has the honor of serving…
Arbuthnot Latham announces mortgage portfolio acquisition
LONDON: Arbuthnot Banking Group has announced that its subsidiary Arbuthnot Latham has agreed the purchase of a residential mortgage portfolio for cash consideration of approximately £258 million, which is subject…
Synthomer agrees to acquire OMNOVA at a price of US$10.15 per Share
LONDON: Synthomer plc, one of the world’s major suppliers of aqueous polymers, has reached an agreement with OMNOVA Solutions on the terms of a recommended acquisition of the entire issued…
Unite Group to acquire Liberty Living
LONDON: Liberty Living Group announced that its sole shareholder, Liberty Living Holdings Inc, has entered into an agreement to sell the entire share capital of the company to the Unite…
Vodafone and Qatar Post put innovation to the fore with partnership agreement
DOHA, QATAR: Vodafone Qatar and Qatar Post have entered into a strategic partnership that sees two innovative companies join forces to deliver superior customer service. The agreement demonstrates the organisations’…
Amanat portfolio company agrees to acquire three medical facilities in Jeddah Saudi Arabia
DUBAI: Amanat Holdings, the GCC’s largest healthcare and education investment company, announced that its portfolio company, International Medical Center (IMC), has agreed to the acquisition of 100% of three medical…