Apr 29

SECP proposes amendments to introduce special purpose acquisition company

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to introduce concept of Special Purpose Acquisition Company (SPAC). A statement issued on Thursday stated that to introduce the SPAC, the SECP has proposed amendments to the Public Offering Regulations, 2017 to solicit public comments. SPAC is a new concept for Pakistan’s capital […]

by Mrs. Anjum Shahnawaz

Sale of Prize Bonds Rs7,500, Rs15,000 stopped forthwith

Apr 29

Money & Banking

Sale of Prize Bonds Rs7,500, Rs15,000 stopped forthwith

ISLAMABAD: The finance ministry on Thursday announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold with immediate effect. In different notifications the finance division announced to withdraw the prize bonds of denominations Rs7,500 and Rs15,000 from circulation with immediate effect. According to the notifications: “… Prize bonds of Rs7,500 denominations […]

by Mrs. Anjum Shahnawaz

PSO announces 5-time increase in net profit for nine-month period

Apr 29

Corporate, Energy

PSO announces 5-time increase in net profit for nine-month period

KARACHI: Pakistan State Oil (PSO) has declared five-time increase in net profit for nine-month period ended March 31, 2021. The unprecedented growth may be attributed to reduction in cost of products sold during the period. According to financial results for nine-month period ended March 31, 2021 submitted to Pakistan Stock Exchange (PSX), the company announced […]

by Mrs. Anjum Shahnawaz

PPL declares decline in net profit to Rs38.12 billion during nine months

Apr 29

Energy

PPL declares decline in net profit to Rs38.12 billion during nine months

KARACHI: Pakistan Petroleum Limited (PPL) on Thursday declared decline in net profit to Rs38.12 billion for the nine-month period ended March 31, 2021. According to unconsolidated financial results submitted to Pakistan Stock Exchange (PSX), the petroleum company declared Rs38.12 billion during first nine months (July – March) 2020/2021 as compared with Rs39.23 billion in the […]

by Mrs. Anjum Shahnawaz

Consumer confidence declines in first quarter of 2021

Apr 29

Finance

Consumer confidence declines in first quarter of 2021

KARACHI: The consumer confidence index has declined by over 10 percent in the first quarter of 2021 owing to concerns over the current economic situation owing to imposition of restrictions to prevent spread of coronavirus. Dun & Bradstreet Pakistan and Gallup Pakistan issued their report on ‘Pakistan Consumer Confidence Index (CCI)’ for Q1 2021 on […]

by Mrs. Anjum Shahnawaz

Finance minister directs to expedite sales process of available spectrum bands

Apr 29

IT & Telecom

Finance minister directs to expedite sales process of available spectrum bands

ISLAMABAD: Finance Minister Shaukat Tarin on Thursday directed to expedite the sale process for the available spectrum. He stressed to provide a level playing field so that all operators must have a fair and equal chance in the process. He urged all the key stakeholders to ensure maximum participation across the board for successful completion […]

by Mrs. Anjum Shahnawaz

PM hopes car scheme to generate demand for domestic industry

Apr 29

Automotive, National

PM hopes car scheme to generate demand for domestic industry

KARACHI: Prime Minister Imran Khan paid rich tribute to Overseas Pakistanis for their overwhelming response to the Roshan Digital Account (RDA). He said their support and vote of confidence have been pivotal in making the initiative a big success within a short period of time, according to a press release issued by State Bank of […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves increase by $307 million to $23.52 billion

Apr 29

Finance

Foreign exchange reserves increase by $307 million to $23.52 billion

KARACHI: The foreign exchange reserves of the country increased by $307 million to $23.52 billion by week ended April 23, 2021, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $23.213 billion by week ended April 16, 2021. The foreign exchange reserves of the central bank increased […]

by Mrs. Anjum Shahnawaz

Stock market sheds 196 points on selling activities

Apr 29

Stock & Commodity

Stock market sheds 196 points on selling activities

KARACHI: The stock market fell by 196 points on Thursday owing to selling observed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,863 points as against last day’s closing of 45,059 points, showing a decline of 196 points. Analysts at Arif Habib Limited said that the market declined further […]

by Mrs. Anjum Shahnawaz

Apr 29

Money & Banking

Rupee gains 26 paisas against dollar

KARACHI: The Pak Rupee gained 26 paisas against the dollar on Thursday owing to improved economic indicators and suspension of loan repayment for Pakistan. The rupee ended Rs153.62 to the dollar from previous day’s closing of Rs153.88 in the interbank foreign exchange market. Currency experts said that market was remained optimistic owing to current account […]

by Mrs. Anjum Shahnawaz