Agha Steel’s IPO receives overwhelming response

KARACHI: The Initial Public Offering (IPO) of Agha Steel has received overwhelming response from investors as it was oversubscribed at the book building phase on Wednesday. The IPO received an overwhelming response... Read more »

OGDCL declares over 15 percent decline in annual profit

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Monday announce financial results and declared over 15 percent decline in annual profit mainly because of lower sales during the year. In its... Read more »

Agha Steel signs Rs10 billion worth sale agreement with Horizon Steel

KARACHI: Agha Steel Industries is going to sell 100,000 metric tons of low-carbon billets worth approximately Rs 10 billion per annum to Horizon Steel. The two companies have signed a memorandum of... Read more »

Engro Fertilizers, MCB Bank introduce first electronic bank guarantee solution

KARACHI: Engro Fertilizers Ltd and MCB Bank Ltd have partnered to accelerate digitization of financial products and developed Pakistan’s first-ever solution to electronically manage bank guarantees. With businesses adopting virtual operations and... Read more »

PSO declares annual loss of Rs6.46 billion

KARACHI: Pakistan State Oil Company Limited (PSO) on Tuesday declared Rs6.46 billion loss for the year ended June 30, 2020, according to financial results of the company submitted to Pakistan Stock Exchange... Read more »

Pak Suzuki declares half year loss of Rs2.46 billion

KARACHI: Pak Suzuki Motor Company Limited has declared loss of Rs2.46 billion for the half year (January – June) 2020, according to financial results submitted to Pakistan Stock Exchange (PSX) on Wednesday.... Read more »

TPL, Pak Suzuki sign agreement for auto insurance

KARACHI: TPL Insurance, Pakistan’s first Direct Insurance Company, has signed a Memorandum of Understanding (MoU) with Pak Suzuki, the country’s largest car manufacturing company to provide services of auto insurance. A statement... Read more »

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 »