Karachi, November 18, 2024 – K-Electric (KE) has faced a setback in transmitting its annual financial statements and holding its Annual General Meeting (AGM) due to the pending determination of its Multi-Year Tariff (MYT) by the National Electric Power Regulatory Authority (NEPRA).
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OGDCL Aims to Finalize Reko Diq Feasibility Study by End-2024
Karachi, November 15, 2024 – The Oil and Gas Development Company Limited (OGDCL) has announced that the feasibility study for the Reko Diq copper-gold project is expected to conclude by December 2024. The update came during OGDCL’s Corporate Briefing Session (CBS) on Friday, where the company outlined its financial performance and future outlook.
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Jazz Achieves Strong Growth in Q3 2024 with Digital Innovation
Jazz, alongside its subsidiaries JazzCash, Mobilink Microfinance Bank (MMBL), and other VEON Group digital entities in Pakistan, has reported impressive financial results for Q3 2024, marking a significant milestone in its digital transformation.
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SECP Registers Over 2,400 Companies in October 2024
Islamabad, November 14, 2024 – The Securities and Exchange Commission of Pakistan (SECP) registered 2,477 new companies in October 2024, bringing the total number of companies in the country to 233,587.
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UBL Confirms Offer for Amalgamation with Silkbank
Karachi, November 1, 2024 – United Bank Limited (UBL) confirmed on Friday that it has officially extended an amalgamation offer to Silkbank Limited, aiming to consolidate Silkbank’s operations within UBL’s larger financial framework.
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HUBCO Plans to Install EV Charging Infrastructure Across Pakistan
Karachi, October 31, 2024 – Hub Power Company Limited (HUBCO) has announced its groundbreaking initiative to install Electric Vehicle (EV) charging infrastructure throughout Pakistan. This development marks a significant step towards enhancing the country’s electric mobility landscape and reducing its carbon footprint.
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NBP Profits Plunge by 76% in 9M 2024 Amid Rising Costs
Karachi, October 30, 2024 – National Bank of Pakistan (NBP) reported a substantial 76% drop in after-tax profits for the nine-month period ending September 30, 2024, driven by escalating operational costs and intense inflationary pressures.
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Engro Corporation Reports 48% Drop in 9MCY24 Profit
Engro Corporation Limited (ENGRO) announced a significant decline in its financial performance for the nine months ending September 2024 (9MCY24), reporting a consolidated profit after tax of PKR 11,983 million, or PKR 22.33 per share. This reflects a steep 48% drop year-on-year, as challenging market dynamics, higher costs, and reduced demand affected its key business sectors.
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PPL Reports 24% Drop in Quarterly Profit Amid Rising Costs
Pakistan Petroleum Limited (PPL) has reported a significant 24% decrease in its profit after tax (PAT) for the quarter ending September 30, 2024. PPL’s PAT fell to Rs22.69 billion, compared to Rs29.76 billion during the same period last year, as the company contends with reduced sales and increased operational expenses.
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Meezan Bank Anticipates Victory in Complex HSBC Tax Dispute
Karachi, October 28, 2024 — Meezan Bank has expressed strong confidence in winning its ongoing tax dispute with the Federal Board of Revenue (FBR), which involves the disallowance of expenses tied to the now-defunct HSBC Bank Middle East – Pakistan Branch.
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