KARACHI: GNEXT, the Apple Authorized Distributor for Pakistan, has announced the appointment of Air Link Communication Limited as its Premium Partner. This strategic collaboration aims to significantly enhance the availability of Apple products across the country, providing customers with greater access to the latest innovations through a structured retail channel. Shahid Khan, CEO of GNEXT…
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Symmetry Group launches Vidfy, a new Al-powered platform for video messages
KARACHI, PAKISTAN: Symmetry Group Limited has announced the launch of Vidfy, a new Al-powered platform, developed in-house, that specializes in creating tailored video messages that empower businesses, brands, content creators and influencers to engage diverse audiences effectively. This launch marks a significant step in leveraging Al-driven solutions to shape the future of personalized digital communication.…
Insurance companies, CDC to establish Pakistan’s first Auto Insurance Repository
KARACHI, PAKISTAN: Leading insurance companies have signed an MoU with the Central Depository Company of Pakistan (CDC) for the establishment of Pakistan’s first centralized auto insurance repository. The CDC will provide the technological support for the creation of an automated repository under the regulatory guidance of the Securities and Exchange Commission of Pakistan (SECP). The…
Competition watchdog okays merger of Wall Street Exchange and UBL Currency Exchange
(CCP) has greenlit a merger of Wall Street Exchange Company (WSE) by UBL Currency Exchange (UCE) pursuant to Letter of Intent (LOI) and later through Asset Purchase Arrangement (APA).
Pakistan Stock Exchange suggests tax reforms, comprehensive documentation of all economic activities
KARACHI: Pakistan Stock Exchange (PSX) has submitted a series of important tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for the fiscal year 2024-25. The measures recommended are revenue positive and will encourage resource allocation towards productive and documented sectors of the…
Arif Habib Limited announces IPO for International Packaging Films Limited
KARACHI: In a significant development for Pakistan’s packaging industry, Arif Habib Limited has announced the launch of an Initial Public Offering (IPO) for International Packaging Films Limited (IPAK). The Book Building dates are 8th & 9th May, while Registration Dates are 6th- 9th May, 2024. The IPO will see International Packaging Films Limited (IPAK) offering…
Pakistan’s Competition Watchdog objects to Telenor’s acquisition by PTCL
ISLAMABAD: An investigation by the Competition Commission of Pakistan (CCP) has provisionally concluded that M/s. Pakistan Telecommunication Company Limited’s (PTCL) proposed acquisition of M/s. Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT) could lead to a substantial lessening of competition in the telecommunication industry. PTCL is a public-listed company and specializes in…
Attock Petroleum Profitability arrives at PKR 86.65/share in 9MFY24
Attock Petroleum Limited (APL) announced the financial result for 9MFY24, whereby the company has posted a net profit of PKR 10,780mn (EPS: PKR 86.65) against PKR 9,836mn (EPS: PKR 79.06) in 9MFY23, up by 10% YoY. During 3QFY24, the bottom-line settled at PKR 2,981mn (EPS: PKR 23.96), down by 31% YoY. Result Highlights AHL Pakistan…
Pakistan Oilfields Limited earnings settled at PKR 105.47/share in 9MFY24
Pakistan Oilfields Limited (POL) announced its financial result today, posting a profit after tax of PKR 29,939mn (EPS: PKR 105.47) during 9MFY24 compared to PKR 30,588mn (EPS: PKR 107.76) in 9MFY23, down by 2% YoY. On a quarterly basis, net profit during 3QFY24 arrived at PKR 12,361mn (EPS: PKR 43.54), down by 24% YoY. Result…
Fauji Fertilizer Bin Qasim profit arrives at PKR 3.33/share
Fauji Fertilizer Bin Qasim Limited (FFBL) announced financial result for 1QCY24 today where the company registered a net profit of PKR 4,306mn (EPS: PKR 3.33) against a loss of PKR 5,429mn (LPS: PKR 4.20) in 1QCY23 which is primarily due to absence of hefty exchange loss during the quarter. Result Highlights Millat Tractors Limited profitability…
Millat Tractors Limited profitability up by 2x to at PKR 13.63/share in 3QFY24
Millat Tractors Limited (MTL) announced its financial result for 9MFY24 today, posting a PAT of PKR 7,860mn (EPS: PKR 40.98), up by 3.7x YoY. During 3QFY24, the profitability of the company clocked in at PKR 2,631mn (EPS: PKR 13.63) compared to a profit of PKR 1,280mn (EPS: PKR 6.67) in 3QFY23, up by 2x YoY.…
Engro Corporation profitability climbs up by 23% YoY
Engro Corporation Limited (ENGRO) announced its 1QCY24 financial result, posting a consolidated net profit of PKR 5,719mn (EPS: PKR 10.66) compared to PKR 4,647mn (EPS: PKR 8.66) in 1QCY23, up by 23% YoY. Alongside the result, the company announced an interim cash dividend of PKR 11.00/share in 1QCY24 (PKR 40.00/share in 1QCY23). Result Highlights AHL…