PSX loses 177 points By: Agencies on October 1, 2024The 100-Index of the Pakistan Stock Exchange (PSX) continued with bearish trend on Monday, losing 177.93 points, a negative change of 0.22 percent, closing at 81,114.20 points against 81,292.13 points on the last working day. A total of 297,994,181 shares were traded during the day as compared to 339,323,128 shares the previous trading day, whereas […]
HUBCO plans to enter lithium mining, battery manufacturing By: News Desk on October 1, 2024Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), has announced plans to enter the mining sector for the exploration of lithium and develop a battery manufacturing unit. The company shared its plans during the Annual General Meeting (AGM) held on Monday, said brokerage house Arif Habib Limited (AHL), which attended the AGM. […]
Gold prices dip by Rs 500 to Rs 275,500 per tola By: APP on October 1, 2024The per tola price of 24 karat gold decreased by Rs.500 and was sold at Rs.275,500 on Monday compared to its sale at Rs. 276,000 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs 428 to Rs. 236,197 from Rs. 236,625 whereas the price of 10 gram […]
Kohinoor Power, Saritow Spinning call off merger By: News Desk on October 1, 2024Kohinoor Power Company Limited (KOHP) on Monday announced that it is no longer pursuing a merger with Saritow Spinning Mills Limited (SSML), citing economic and operational conditions. The listed company shared the development in a notice to the Pakistan Stock Exchange (PSX). “The Boards of Directors (BoD) of Kohinoor Power Company Limited (KPCL) and Saritow […]
Meezan Bank partners with Hamdard Labs By: APP on October 1, 2024Meezan Bank, Pakistan’s leading Islamic bank, and Hamdard Laboratories (Waqf) Pakistan, a pioneer in Eastern medicine, have marked a significant enhancement in their financial collaboration with the successful integration of advanced transaction banking services. The agreement in this regard was signed by Sadia Rashid, Chairperson & Chief Mutawallia of Hamdard Laboratories, and Syed Amir Ali, […]
Tarbela Dam 5th extension to finish in 2 years By: APP on October 1, 2024Tarbela 5th Extension Hydropower Project having 1510 megawatts (MW) capacity will be completed in 2025-26. The project was being completed with the financial assistance of World Bank (WB) and Asian Infrastructure Investment Bank (AIIB), official sources told APP here Monday. They said that WB and AIIB were providing financial assistance to the tune of $ […]
IHC issues notice to FBR over property tax By: inp on October 1, 2024The Islamabad High Court (IHC) had issued notices to the Federal Board of Revenue (FBR) and the Attorney General of Pakistan to provide comments on the Federal Excise Duty (FED) imposed on the transfer or allotment of immovable properties by builders and developers. The Defence Housing Authority (DHA) Islamabad had contested the legality of Table-III […]
Rupee sheds 8 paisa against dollar By: APP on October 1, 2024Pakistani rupee on Monday depreciated by 08 paisa against the US dollar in the interbank trading and closed at Rs 277.71 against the previous day’s closing of Rs 277.63. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278 and […]
APTMA demands regionally competitive energy tariff By: APP on October 1, 2024Newly elected Chairman All Pakistan Textile Mills Association (APTMA) Kamran Arshad has urged policymakers to reduce electricity tariff and restore Regionally Competitive Energy Tariff (RCET) besides reversing the government policy of curtailing gas supply to captive consumers from January 1, 2025, and include local yarn supply in the Export Facilitation Scheme (EFS) scheme. These measures […]
Chainstore Association elects new office-bearers By: News Desk on October 1, 2024During the Annual General Meeting (AGM), held here at the head office, the Chainstore Association of Pakistan has elected its new office-bearers, including Asfandyar Farrukh, Ahsen Mahmood and Altaf Hashwani as Chairman, Senior Vice Chairman and Vice Chairman respectively for the next tenure. These appointments reflect the Association’s commitment to strong leadership and strategic direction. […]