IESCO’s new Tender Scandal Exposes Fraudulent Practices by Al-Hussain Traders on October 4, 2024A shocking revelation has emerged from Islamabad Electric Supply Company (IESCO) regarding its procurement process for Tender Nos. PMU/GOODS/NCB: 156, 157, and 158, aimed at acquiring 132 KV Steel Tubular Poles and allied accessories. The IESCO Grievance Redressal Committee (GRC) has confirmed serious irregularities and fraudulent practices that have raised significant concerns about transparency and […]
Bulls continue to rule PSX as index gains 754 more points By: APP on October 4, 2024The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 754.76 more points, a positive change of 0.92 percent, closing at 82,721.77 points against 81,967.01 points on the last working day. A total of 319,879,266 3 shares were traded during the day as compared to 360,987,426 shares the previous trading […]
Pak-Malaysia agree for fostering deeper economic, trade cooperation By: APP on October 4, 2024Pakistan and Malaysia on Thursday agreed to take significant steps towards fostering deeper economic cooperation and exploring new business opportunities that benefit both nations. Federal Minister for Commerce, Jam Kamal Khan held a meeting with Datuk Seri Utama Tengku Zafrul Bin Tengku Abdul Aziz, the Malaysian Minister for Investment, Trade and Industry (MITI). This meeting […]
Pakistani IT companies shine at AI, ‘Big Data Exhibition Europe 2024’ in Amsterdam By: APP on October 4, 2024Four leading Pakistani IT companies – REACH THE GLOBE, ICILtek, NorthBay Solutions, and Sofizar / ConstellationCK – proudly represented Pakistan at the ‘AI and Big Data Exhibition Europe held on 1st -2nd October 2024 at the RAI Convention Centre in Amsterdam. Sponsored by the Trade Development Authority of Pakistan (TDAP), the companies showcased cutting-edge solutions […]
Rupee sheds 11 paisa against dollar By: APP on October 4, 2024The Pakistani rupee on Thursday depreciated by 11 paisa against the US dollar in the interbank trading and closed at Rs277.74 against the previous day’s closing of Rs277.63. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs278.50 and Rs280 respectively. […]
Gold prices dip by Rs1,100 to Rs 274,400 per tola By: APP on October 4, 2024The per tola price of 24 karat gold decreased by Rs.1,100 and was sold at Rs.274,400 on Thursday compared to its sale at Rs. 275,500 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs 943 to Rs. 235,254 from Rs. 236,197 whereas the price of 10 gram […]
Manufacturing HIV drug in Pakistan: Ferozsons partners with Gilead By: News Desk on October 4, 2024Ferozsons Laboratories Limited (Ferozsons), a Pakistani pharmaceutical company, has entered into a non-exclusive voluntary license agreement with Gilead Sciences Ireland UC, a US-based biopharmaceutical company, for the manufacture and sale of licensed generic lenacapavir. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. Ferozsons informed that it […]
CCP holds merger review hearing for PTCL-Telenor acquisition By: APP on October 4, 2024The Competition Commission of Pakistan (CCP) continued its comprehensive Phase II Merger review of PTCL’s acquisition of 100 percent shareholding in Telenor Pakistan (Private) Limited and Orion Towers (Private) Limited. The CCP’s bench comprised of Chairman Dr. Kabir Ahmed Sidhu and Members Salman Amin and Abdul Rashid Sheikh, said a press release issued on Thursday. […]
PAAPAM elects Usman Malik as new chairman By: APP on October 4, 2024The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has elected Usman Malik as its new Chairman, while Shehryar Qadir and Shuja-ul-Haq have been elected as Senior Vice Chairman and Vice Chairman respectively during an Annual General Meeting (AGM) held here at a local hotel. The other executive committee members who were elected in […]
Cotton arrival in Pakistan slumps in September 2024 By: News Desk on October 4, 2024Cotton arrival in Pakistan registered a massive decline of 59% as of September 30, 2024, compared to the same period of the previous year, showed data released by the Pakistan Cotton Ginner’s Association (PCGA) on Thursday. As per the report, total cotton arrival in Pakistan clocked in at 2.04 million bales compared to 5.025 million […]