FFBL board approves merger with Fauji Fertilizer By: News Desk on September 21, 2024The Board of Directors of Fauji Fertilizer Bin Qasim Limited (FFBL) has given its in-principle approval to merge with and into Fauji Fertilizer Company Limited (FFC). The swap ratio for the amalgamation of FFBL into FFC has been finalized at 1:4.29, informed FFBL in a notice to the Pakistan Stock Exchange (PSX) on Friday. “The […]
PPL’s earnings jump 19%, clock in at Rs115.5bn in FY24 By: News Desk on September 21, 2024Pakistan Petroleum Limited (PPL) saw its profit-after-tax (PAT) jump nearly 19% to clock in at Rs115.48 billion for the fiscal year ended June 30, 2024. In the same period last year, the exploration and production company saw PAT of Rs97.22 billion. As per the E&P’s latest financial results provided to the Pakistan Stock Exchange (PSX) […]
Rupee gains 8 paisa against dollar By: APP on September 21, 2024Pakistani rupee on Friday appreciated by 8 paisa against the US dollar in the interbank trading and closed at Rs 277.83 against the previous day’s closing of Rs 277.91. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.25 and […]
Gold rates up by Rs 3,500 per tola to Rs 272,000 By: APP on September 21, 2024The per tola price of 24 karat gold increased by Rs.3,500 and was sold at Rs.272,000 on Friday compared to its sale at Rs.268,500 on the last trading day. The price of 10 grams of 24 karat gold also increased by Rs.3,001 to Rs.233,196 from Rs. 230,195 whereas the price of 10 grams 22 karat […]
Citi Pharma commences nutraceutical exports to US By: News Desk on September 21, 2024Citi Pharma Limited (CPHL), a Pakistani pharmaceutical company, has commenced exports of nutraceuticals to the United States (US). The company announced the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “Citi Pharma, Pakistan’s largest API [Active Pharmaceutical Ingredients] manufacturer, is proud to announce this news as Pakistan’s first Nutraceutical products receive […]
Afiniti agrees to restructuring plan: TRG Pakistan By: News Desk on September 21, 2024TRG Pakistan, being a shareholder in The Resource Group International (TRGI), announced on Friday that its indirect and TRGI’s portfolio company Afiniti, based in Washington DC, has agreed with its senior leaders a comprehensive restructuring plan that would “significantly enhance Afiniti’s financial position and growth prospects in the AI technology industry”. The restructuring plan includes […]
PSQCA, LCCI team up for industry growth By: APP on September 21, 2024The Pakistan Standards and Quality Control Authority (PSQCA) and the Lahore Chamber of Commerce and Industry (LCCI) have partnered to strengthen the local industry’s ability to compete on a global scale. As part of this initiative, PSQCA has established an information desk at the LCCI and Quality Assurance Cell at its directorate. This aligns with […]
Pakistan will have to pay Rs49 trillion in local loans by 2030 By: inp on September 21, 2024By 2030, Pakistan is projected to owe a staggering Rs49,629 billion in local debt, according to a recent government document detailing the nation’s borrowing patterns. The report outlines that these loans were taken through investment bonds, treasury bills, sukuk, and savings schemes. The document details a substantial repayment schedule over the next five years, including […]
Rice export sector sees 98.58% boost By: APP on September 21, 2024Rice exports from the country during the first two months of the current financial year increased by 98.58 per cent as compared to the exports of the corresponding period of the last year. During the period from July-August, 2024, over 340,703 metric tons of rice valued at $464.667 million were exported as compared to the […]
Short term inflation eases by 0.52% By: APP on September 21, 2024The weekly inflation, measured by the Sensitive Price Indicator (SPI), decreased by 0.52 percent for the combined consumption groups during the week ended on September 19, the Pakistan Bureau of Statistics (PBS) reported on Friday. According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 317.61 […]