K-Electric declares 48 percent decline in profit after tax payment of Rs2.02 billion

KARACHI: K-Electric, the power utility producing and supplying electricity to Karachi city, has paid Rs2.02 billion as taxes during half year (July – December) 2019/2020 which brought down the company’s net profit... Read more »

HBL announces 287 percent surge in half year profit

KARACHI: Habib Bank Limited (HBL) on Friday declared massive increase of 287 percent in half-year profit tax for the period ended June 30, 2020. The bank, one of the largest bank in... Read more »

German financial institution shows interest to acquire 20pc stake in TPL Insurance

KARACHI: A Germany based development finance institution has shown interest to acquire 20 percent stake in TPL Insurance Limited, a statement said on Tuesday. According to an announcement on Pakistan Stock Exchange... Read more »

Engro commits Rs40 million to extend partnership with SKMCH

KARACHI: As part of the Rs1 billion Hussain Dawood Pledge, Engro Foundation – the social investment arm of Engro Corporation – has provided an additional Rs40 million to extend its partnership with... Read more »

Honda Cars declares 82 percent decline in annual profit

KARACHI: Honda Atlas Cars (Pakistan) Limited has posted 82 percent decline in annual profit for the period ended March 31, 2020, said a notification on Tuesday. The car manufacturing company declared Rs682... Read more »

SECP issues guidelines for license renewal amid COVID-19

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has issued guidelines for license renewal in order to facilitate companies considering difficulties due to COVID-19. The SECP issued Circular No. 19/2020 for extension... Read more »

PIA declares Rs56 billion after tax annual loss

KARACHI: The national flag carrier, Pakistan International Airline, has declared after tax loss of Rs56 billion for the year 2019, according to financial results submitted to Pakistan Stock Exchange (PSX) on Monday.... Read more »

SECP facilitates companies in IAS 39 requirements

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SEC) has allowed relief registered companies that are applying IAS 39/principles of IAS 39 (for Available for Sale equity instruments). The SECP issued S.R.O.... Read more »

PQGTL signs agreement with Gabitt

KARACHI:  Pak-Qatar General Takaful Limited (PQGTL) has signed an agreement with Gabitt, a ride hailing service. The ceremony, which was held recently, was attended by Nasir Ali Syed, CEO Pak-Qatar General Takaful... Read more »

Engro signs pact with Bill & Melinda Gates Foundation to support poverty alleviation in Pakistan

KARACHI: Engro Foundation has signed a three-year agreement with the Bill & Melinda Gates Foundation to promote the well-being of vulnerable and marginalized segments of the society in Pakistan. Under the cooperation... Read more »