Gul Ahmed announces 67% growth in quarterly profit

Oct 29

Corporate, Top stories, Trade & Industry

Gul Ahmed announces 67% growth in quarterly profit

KARACHI: Gul Ahmed Textile Mills Ltd. (GATM) on Friday declared over 67 per cent growth in after tax profit for the quarter ended September 30, 2021. According to the financial results shared with the Pakistan Stock Exchange, the textile unit declared Rs1.167 billion as profit after tax for the first quarter (July – September) 2021 […]

by Mrs. Anjum Shahnawaz

Pakistan’s open market exchange rates on October 29

Oct 29

Money & Banking

Pakistan’s open market exchange rates on October 29

KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on October 29, 2021 (The rates are updated at 09:30 AM Pakistan Standard Time): Currency Buying Selling Australian Dollar (AUD) 127.10 129.10 Bahrain Dinar (BHD) 386.75 388.50 Canadian Dollar (BHD) 140.10 142.10 China Yuan (CNY) 23.75 23.90 Danish […]

by Hamza Shahnawaz

PMIC initiates action against 50 individuals, entities

Oct 29

Finance, Top stories

PMIC initiates action against 50 individuals, entities

ISLAMABAD: Inspection Commission constituted by Prime Minister Imran Khan, in its first phase initiated proceedings against 50 individuals and entities nominated in the Pandora Papers. The proceeding is likely to expand in due course, said a press release on Thursday. The process will be concluded strictly in accordance with law and whenever necessary, enforcement powers […]

by Faisal Shahnawaz

Oct 28

IT & Telecom, Top stories, World

Facebook changes name to Meta

Facebook at its annual developer conference announced to change the name to Meta. The company said it would better “encompass” what it does, as it broadens its reach beyond social media into areas like virtual reality. According to BBC, the company, which announced the change at its annual developer conference, said it would better “encompass” […]

by Mrs. Anjum Shahnawaz

Oct 28

Stock & Commodity

Brokers’ JTT causes disconnections, slow speed: PSX

KARACHI: The Pakistan Stock Exchange (PSX) on Thursday defended its new trading system and said that Jade Trading Terminal (JTT), which was developed on demand of stockbrokers, is causing problems of disconnections and slow speed. In a statement, the PSX said that it had made the changeover to the new trading system on Monday, October […]

by Mrs. Anjum Shahnawaz

SCBL posts 17% decline in net profit during nine months

Oct 28

Corporate, Money & Banking, Top stories

SCBL posts 17% decline in net profit during nine months

KARACHI: Standard Chartered Bank (Pakistan) Limited (SCBL) on Thursday announced a 17 per cent decline in profit after tax for the nine months period ended September 30, 2021. The bank declared Rs9.91 billion as profit after tax during January – September 2021 as compared with Rs11.91 billion in the corresponding period of the last year. […]

by Mrs. Anjum Shahnawaz

Oct 28

Corporate

Lucky Cement wins corporate excellence award

KARACHI: Lucky Cement Limited has won the Management Association of Pakistan’s Corporate Excellence Award in the Cement Sector category. Noman Hasan, Executive Director of Lucky Cement Limited received the award at the 36th MAP Annual Corporate Excellence Award Ceremony held at a local hotel yesterday. The Corporate Excellence Awards was instituted by MAP in 1982 […]

by Mrs. Anjum Shahnawaz

Pakistan’s forex reserves fall to $23.934 billion

Oct 28

Finance, Top stories

Pakistan’s forex reserves fall to $23.934 billion

KARACHI: The liquid foreign exchange reserves of Pakistan have declined by $393 million on weekly basis, according to statistics released by the State Bank of Pakistan (SBP) on Thursday. The foreign exchange reserves of the country declined to $23.934 billion by the week ended October 22, 2021, as compared with $24.327 billion a week ago. […]

by Faisal Shahnawaz

KSE-100 index gains 199 points amid thin volumes

Oct 28

Stock & Commodity

KSE-100 index gains 199 points amid thin volumes

The Pakistan Stock Exchange (PSX) experienced a positive uptick on Thursday as the benchmark KSE-100 index gained 199 points, closing at 45,991 points from the previous day’s closing at 45,792 points.

by Faisal Shahnawaz

KCCI urges SBP to restore PKR at Rs150 to dollar

Oct 28

Money & Banking, Trade & Industry

KCCI urges SBP to restore PKR at Rs150 to dollar

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has sought State Bank of Pakistan (SBP) intervention to reverse back the Pak Rupee (PKR) to Rs150 against the dollar. Chairman Businessmen Group (BMG) and Former President KCCI Zubair Motiwala in a statement issued on Thursday expressed deep concerns over the continuous devaluation of Pakistani rupees against […]

by Hamza Shahnawaz