DOHA: Qatar Fuel Company (WOQOD) and Al Meera Consumer Goods Company (AL MEERA) announced that they had signed a memorandum of understanding wherein WOQOD and AL MEERA will enter into an agreement to operate and manage current and prospective WOQOD’s Sidra Convenience Stores, currently aggregating 65 C-stores’ outlets. Both parties have agreed to exert their…
KARACHI: K-Electric (KE) held its 107th Annual General Meeting (AGM) – FY 2017, at a local hotel in Karachi. The meeting was chaired by Ikram Sehgal, Chairman KE Board, in the presence of Moonis Alvi, CEO; Aamir Ghaziani, CFO; Rizwan Dalia, Company Secretary & CPO and other members of the Board and KE leadership. A…
LONDON: Beximco Pharmaceuticals Limited, the fast-growing manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, has commenced export of a blood pressure drug, Nadolol, to the US market. Nadolol tablets (20mg, 40mg and 80mg) are the generic equivalent of Bristol-Myers Squibb’s Corgard tablets for treating hypertension and angina pectoris (chest pain). This is Beximco’s fifth…
LONDON, UK: Ofcom has fined the mobile company Giffgaff £1.4 million, for overcharging millions of customers. The fine follows an Ofcom investigation, which found that an error in Giffgaff’s billing system led to around 2.6 million customers being overcharged up to a total of almost £2.9 million. Giffgaff is owned by Telefónica UK, which trades…
LONDON: Gateley Holdings Plc, the legal and professional services group, is pleased to announce the acquisition of Persona Associates Limited. Persona is one of the UK’s longest-established and leading land referencing consultancies, advising on some of the UK’s largest infrastructure and regeneration projects. Persona provides expertise on statutory processes relating to long-term infrastructure projects involving…
LONDON: Utilita Energy failed to meet its carbon reduction obligations under the Energy Company Obligation (ECO) scheme between 2015 and 2018 and will pay £175,000 to the energy redress fund over its failings. ECO is a government energy efficiency scheme in Great Britain, administered by Ofgem, to help reduce carbon emissions and tackle fuel poverty….
TOKYO: Mitsubishi UFJ Lease & Finance Company Limited (MUL) has announced its decision to participate in electricity distribution business in the UK by acquiring a stake in “Electricity North West Limited” (ENWL), an electricity distributor supplying the North West of England. KDM Power Limited., a holding company jointly established by MUL, Kansai Electric Power Co.,…
LONDON: Chaarat Gold Holdings, the gold mining company with assets in the Kyrgyz Republic and Armenia, announced that following discussions related to the acquisition of the Kapan mine acquired in January 2019 from Polymetal International Plc, Polymetal has agreed to exchange its US$10 million of Convertible Notes received as part of original consideration, and a…
KARACHI: As per latest data released by National Electric Power Regulatory Authority (NEPRA), total electricity generation during June 2019 registered 2.0 percent YoY increase to 13,157Gwh against 12,914Gwh in the corresponding month of last year. “Slender rise in electricity generation during the month is primarily attributed to notable improvement in coal & RLNG based generation…
KARACHI: Attock Petroleum Limited (APL) unveiled its FY19 financial results with profit after tax at PKR3.96 billion (EPS PKR39.79) versus PKR5.66 billion (EPS PKR56.83) recorded last year, down 30%YoY. Earnings of the company arrived above expectation owing to higher than estimated gross level margins in 4QFY19 likely on the back of inventory gains booked by…
KARACHI: Pakistan Oilfields Limited (POL) unveiled its FY19 profit after tax at PKR16.87 billion (EPS PKR59.44) versus PKR11.38 billion (EPS PKR40.10) registered during last year, depicting a notable increase of 48%YoY. Net earnings of the company arrived above estimates primarily due to lower than estimated exploration expenses (-31%YoY) & higher than anticipated other income (+120%YoY)….
KARACHI: The pharmaceutical manufacturers are anticipating a significant decline in sales, as the border with Afghanistan was closed stopping informal export of medicine to the neighboring country, an industry official said. “Only our company used to send medicines worth approximately Rs1.0 billion to Afghanistan through informal channels,” an official of a local pharmaceutical manufacturing company…