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KARACHI: A UK commitment to provide financing for renewable energy and energy efficiency to Pakistan’s industrial Small and Medium Enterprises (SME) sector has been signed by the Department for International Development (DFID). As part of DFID’s Sustainable Energy and Economic Development (SEED) programme, Karandaaz will invest over £15 million to promote renewable energy generation and…

SHARJAH, UAE: Dana Gas, the Middle East’s largest regional private sector natural gas company, announced H1 2019 ended June 30, 2019 net profit jumped 483 % to $140 million compared with $24 million in H1 2018. This was mainly due to the recognition at fair value of certain reserve based earn out entitlements amounting to…

KARACHI: KIA Lucky Motors (KLM) has launched the much-awaited, Pakistan’s first all-wheel 2000 CC SUV. KIA Sportage is Pakistan’s first All-Wheel Drive car with 100,000 km or 4 years warranty. KIA Sportage comes in two models- top of the line being an All-Wheel Drive (AWD) version, which is a first of its kind in Pakistan…

KARACHI: MCB Bank Limited (MCB) unveiled its 2QCY19 ended June 30, 2019 consolidated net earnings at Rs5.41 billion (EPS Rs4.59) versus Rs4.76 billion (EPS Rs3.99) recorded during the same quarter last year, exhibiting a rise of 14%YoY in profitability. Earnings of the bank arrived in-line with estimates. Consistent with previous payouts, MCB declared interim cash…

KARACHI: United Bank Limited (UBL) unveiled its 2QCY19 ended June 30, 2019, standalone net earnings at Rs5.38 billion (EPS Rs4.39) versus Rs3.63 billion (EPS Rs2.96) recorded during the same quarter last year, exhibiting a significant rise of 48% YoY, primarily due to low-base effect as UBL booked hefty one-off pension charge (Rs2.0 billion) in 2QCY18….