The Competition Commission of Pakistan (CCP) approved on Friday the acquisition of trademarks for the pharmaceutical product Claforan by Hoechst Pakistan Limited from Sanofi Aventis Deutschland GMBH. This acquisition was facilitated through a trademark assignment agreement, marking a significant transaction in Pakistan’s pharmaceutical industry.
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PSO Reports Rs 15.9 Billion Profit for FY24, Declares Dividend
Karachi, October 25, 2024 – Pakistan State Oil (PSO) has announced a profit after tax of Rs 15.9 billion for the fiscal year ending June 30, 2024, marking a significant achievement for the state-owned energy giant.
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OGDCL Begins Oil and Gas Production from Sanghar District
Islamabad, October 24, 2024 – Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, has successfully commenced oil and gas production from its exploratory well Baloch-2, situated in the Sanghar district of Sindh.
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MCB Bank Reports 8% Decline in Earnings for 3QCY24
Karachi, October 23, 2024 – MCB Bank has released its financial results for the third quarter ending September 30, 2024, revealing an 8% decline in earnings compared to the same period last year.
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UBL Posts Record Quarterly Earnings of Rs 18.3 Billion in 3Q2024
Karachi, October 23, 2024 – United Bank Limited (UBL) has announced its highest-ever quarterly earnings, reporting a remarkable profit of Rs18.3 billion for the third quarter of 2024 (3Q2024), translating to an earnings per share (EPS) of Rs14.96. This represents a 24% year-on-year (YoY) and quarter-on-quarter (QoQ) increase, aligning with market expectations.
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Lucky Cement Completes 28.8 MW Captive Wind Power Project
Karachi, October 22, 2024 – Lucky Cement Limited has successfully completed and commissioned its 28.8 MW captive wind power project at its Karachi plant, marking a major milestone in Pakistan’s renewable energy sector. The project, completed on schedule and within budget, officially began operations on October 22, 2024.
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Meezan Bank Reports 34% Profit Growth in 9M CY24
Karachi, October 21, 2024 – Meezan Bank Limited has reported an impressive 34% year-on-year (YoY) growth in profit after tax for the nine-month period ending September 30, 2024.
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HBL Reports 13% YoY Decline in Q3 2024 Earnings
Karachi, October 16, 2024 – Habib Bank Limited (HBL) announced a 13% year-on-year (YoY) decline in earnings for the third quarter of calendar year 2024 (3QCY24), with profits totaling PKR 14.5 billion (Earnings Per Share: PKR 9.85).
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PTCL Reports Rs 6.3 Billion Quarterly Loss Amid Revenue Growth
Pakistan Telecommunication Company Limited (PTCL) has reported a substantial net loss of Rs 6.3 billion for the third quarter ending on September 30, 2024, a significant increase from the Rs 2.8 billion loss recorded during the same period last year. This financial setback comes despite notable improvements in the company’s revenue and gross profit.
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PPL Commences Oil and Gas Production from Adhi South-9
Karachi, October 14, 2024 – Pakistan Petroleum Limited (PPL) has successfully commenced oil and gas production from its new development well, Adhi South-9, located within the Adhi Mining Lease. This marks a significant step in the company’s ongoing efforts to boost the country’s domestic oil and gas output.
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