Asian Power Awards recognizes KE’s innovation in energy efficiency By: pr on November 14, 2024K-Electric’s 560 MW Bin Qasim Power Station II (BQPS-II) was recognized for 2 awards at the global stage at the Asian Power Awards 2024. The privatized utility secured accolades in two categories: Gas Power Project of the Year – Pakistan, and Power Plant Upgrade of the Year – Pakistan. The infrastructure upgrades in the project […]
Meezan Bank, CashNow join hands By: pr on November 14, 2024Meezan Bank, Pakistan’s leading Islamic bank, has entered into a strategic alliance with CashNow, Pakistan’s pioneering supply chain finance platform, to revolutionize Shariah-compliant supply chain finance. A Memorandum of Understanding (MoU) was signed at Meezan Bank’s Head Office in the presence of senior management from both organizations. This partnership, the first of its kind in […]
IMF mission chief meets finmin to discuss $7bn loan performance By: Agencies on November 13, 2024The International Monetary Fund’s (IMF) Pakistan mission chief Nathan Porter met with Finance Minister Mohammad Aurangzeb in Islamabad on Tuesday to discuss the $7 billion loan performance, a statement from the Finance Ministry said. The meeting comes a day after the opening of an unplanned official visit of the IMF to the country, led by […]
Cars’ sale up 46.73% to 30,625 units during Jul-Oct 2024 By: APP on November 13, 2024The sale of cars during the first four months of the current financial year 2024-25 increased by 46.73 percent compared to the same months of last year, a recent data released by Pakistan Automobile Manufacturing Association (PAMA) said. According to the data, as many as 30,625 cars were sold during the months under review as […]
Asian markets drop as Trump worries kick in after China disappoints By: APP on November 13, 2024Separately, Asian markets sank Tuesday as worries about the impact of a possible trade war between China and the United States when Donald Trump takes office, which compounded disappointment about Beijing’s lack of extra measures to boost its stuttering economy. The sell-off came despite another record close on Wall Street, fuelled by expectations that Trump […]
KSE-100 sheds 424 points as investors resort to profit-taking By: Agencies on November 13, 2024After days of positive momentum, profit-taking was the theme of the day as the benchmark KSE-100 Index closed lower by 424 points on Tuesday. The KSE-100 witnessed selling pressure since the start of the session, which pushed the index to an intra-day low of 92,893.11. Some late-session buying helped the KSE-100 Index regain the 93,000 […]
SBP approves TPL Corp, Abhi’s acquisition of FINCA Microfinance Bank By: Agencies on November 13, 2024The State Bank of Pakistan (SBP) has given its final approval to TPL Corp Limited (TPL), a Pakistani financial platform, and Abhi (Private) Limited (Abhi) for the acquisition of FINCA Microfinance Bank Limited. The development was shared by TPL Corp, the investment holding company of the TPL Group, via notice to the Pakistan Stock Exchange […]
Saudi National Bank terminates plan to divest stake in Samba Pakistan By: Agencies on November 13, 2024Saudi National Bank (SNB) has terminated the process for the sale of its equity stake in Samba Pakistan. The development was shared by Samba Bank, a subsidiary of SNB, in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We have been notified that after completion of due diligence and an exploration for the […]
Promotion of trade activities vital to uplift economy: SCCI By: APP on November 13, 2024Sargodha Chamber of Commerce & Industry (SCCI) President Khawaja Yasir Qayyum on Tuesday stressed the need for further reforms in trade policies to support the growth of local industries and remove obstacles faced by the business community. Talking to APP, he also emphasised the importance of addressing the lack of banking channels with countries like […]
Rupee sheds 6 paisa against dollar By: APP on November 13, 2024The Pakistani rupee on Tuesday depreciated by 06 paisa against the US dollar in the interbank trading and closed at Rs 277.92 against the previous day’s closing of Rs 277.86. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.40 […]