Sindh govt approves 12 new high-yield crop varieties to boost agriculture By: APP on September 11, 2024In a significant move towards boosting agricultural productivity, the Sindh government has approved 12 innovative crop varieties including cotton, wheat, mustard,and ber developed by the province’s leading agricultural scientists. During the 36th pivotal meeting of the Sindh Seed Council, chaired by the Sindh Minister for Agriculture Sardar Muhammad Bux Khan Mahar these crop varieties were […]
Economic Uncertainty Persists: Pakistan’s EFF not on IMF’s September meeting schedule By: News Desk on September 10, 2024The International Monetary Fund (IMF) has not yet included Pakistan on the agenda of its Executive Board calendar meetings scheduled till September 18. According to the Fund’s website, the IMF updated the schedule of the executive board meeting set to be held on September 9, 13 and 18, but Pakistan’s 37-month Extended Fund Facility Arrangement […]
PSX witnesses bearish trend By: APP on September 10, 2024The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 282.72 points, showing a negative change of 0.36 percent, closing at 78,615.00 points against 78,897.73 points on the last working day. A total of 491,124,197 shares were traded during the day as compared to 743,072,057 shares the previous day, whereas the […]
Dawood Lawrencepur’s subsidiary sale cancelled due to buyer’s cold feet By: News Desk on September 10, 2024Dawood Lawrencepur Limited (DLL) informed that the proposed sale of Tenaga Generasi Limited, an independent power producer (IPP) with a 49.5MW wind power plant, to Artistic Milliners (Private) Limited will not proceed due to unmet conditions within the specified timeframe. The company, engaged in renewable energy solutions, informed this to its stakeholders in a notice […]
Profit boost for Millat Tractors: 167% increase in FY24 earnings By: News Desk on September 10, 2024Millat Tractors Limited (MTL), Pakistan’s largest tractor manufacturer, reported a profit-after-tax (PAT) of Rs10.64 billion for the financial year ended June 30, 2024, a jump of nearly 167% year-on-year. The company registered consolidated earnings of Rs4 billion in 2023, showed MTL’s latest financial results provided to the Pakistan Stock Exchange (PSX) on Monday. The board […]
Rupee sheds 14 paisa against dollar By: APP on September 10, 2024Pakistani rupee on Monday depreciated by 14 paisa against the US dollar in the interbank trading and closed at Rs 278.70 against the previous day’s closing of Rs 278.56. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.85 and […]
Gold rates decline by Rs.1,100 to Rs.260,400 By: APP on September 10, 2024The per tola price of 24 karat gold decreased by Rs.1,100 and was sold at Rs.260,400 on Monday compared to its sale at Rs. 261,500 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs.943 to Rs. 223,251 from Rs. 224,194 whereas the price of 10 gram 22 […]
SBP to announce monetary policy on Sept 12 By: inp on September 10, 2024The State Bank of Pakistan announced on Monday that its Monetary Policy Committee will meet on Thursday, September 12, 2024, to review economic data. According to a report by Topline Research, which conducted a market survey in preparation for the meeting, the majority of respondents expect a reduction in the interest rate by 150 basis […]
CCP approves Sindh Engro Coal mining share acquisition By: APP on September 10, 2024The Competition Commission of Pakistan (CCP) has granted approval for the acquisition of 11.9% of the paid-up ordinary share capital of M/s. Sindh Engro Coal Mining Company (SECMC) Limited by M/s. International Electric Power (Private) Limited under a Share Purchase Agreement (SPA). M/s. International Electric Power (Private) Limited, established in March 2024 for the purpose […]
DRAP clears BF Biosciences’ Brownfield expansion By: News Desk on September 10, 2024Pakistan’s pharmaceutical company BF Biosciences Limited (BFBL) has secured approval from the Drug Regulatory Authority of Pakistan (DRAP) for brownfield expansion. The development was shared by its parent Ferozsons Laboratories Limited in a notice to the Pakistan Stock Exchange (PSX) on Monday. “We are pleased to inform that BF Biosciences Limited, a subsidiary of Ferozsons […]