KARACHI: PSX listed Systems Limited, a global leader of next-generation IT services and BPO solutions, has agreed to make a strategic investment of Rs150 million in Jomo Technologies (Private) Limited, a progressive eCommerce company, selling global and local fashion/sportswear brands through its platform. “This investment is aimed at enhancing our presence in the digital retail…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Octopus Digital to setup industrial data center infrastructure in Pakistan
LAHORE, PAKISTAN: Octopus Digital Limited, a subsidiary of Avanceon Group, will setup and maintain industrial data center infrastructure for one of the largest FMCG corporations in Pakistan. The FMCG giant manufactures, stores, packages, and ships snack food products. Avanceon Group has previously worked on several projects with the customer successfully and the acquisition of this…
Cordoba Logistics & Ventures to acquire 50% stake in CC Retail
KARACHI, PAKISTAN: The Board of Directors of Cordoba Logistics & Ventures Limited (Formerly Mian Textile Industries Limited) has approved investment of Rs 65.00 million in Children Clothing Retail (Private) Limited (CC Retail) by purchasing its 50.0002% stake comprising 650,002 ordinary shares. CC Retail will become a subsidiary of Cordoba Logistics & Ventures on transfer of…
Pakistan Refinery announces $1.2bn expansion
KARACHI: State owned Pakistan Refinery Limited (PRL) has announced a $1.2 billion expansion, which would increase crude processing capacity to 100,000 barrels/day. Moreover, with this expansion, PRL will comply with the requirements to produce Euro-V compliant high speed diesel (HSD) and Motor Spirit (MS). Company will also achieve self-sustainability by upgrading from hydro-skimming refinery to…
PTCL launches cyber security services for corporate customers
KARACHI, PAKISTAN: Pakistan Telecommunication Company Limited (PTCL) has launched new cyber security services based on its cutting-edge Security Operations Center (SOC) to protect its corporate and financial customers against cyber-attacks. The SOC-based services will reinforce the digital security by building a safety wall against a range of cyber security threats to customers’ data, digital assets…
Supernet and PAKSAT sign partnership for proliferation of satellite communications
KARACHI, PAKISTAN: Supernet Limited and PAKSAT International, Pakistan’s national satellite operator have signed a strategic partnership to expand the existing relationship. Through this partnership, Supernet will be able to provide national and international customers with seamless connectivity through Pakistan’s current and future national satellites and PAKSAT will be able to expand its technical and support…
PSX lists Pak Agro Packaging on its maiden GEM Board
KARACHI, PAKISTAN: Pak Agro Packaging Limited (PAPL) has become the very first company to be listed on Pakistan Stock Exchange (PSX) Growth Enterprise Market (GEM) Board, a statement noted. Growth Enterprise Market (GEM) Board is a listing platform created to facilitate growth enterprises whether small, medium or greenfield businesses for their capital raising needs. Adviser…
Kilowatt Labs & GGL to produce supercapacitor batteries in Pakistan
KARACHI, PAKISTAN: Ghani Global Holdings Limited (GGL) and Kilowatt Labs Inc USA have entered into a formal partnership to start maiden manufacturing of supercapacitor energy storage systems in Pakistan to promote usage of renewable electricity. A ceremony was held here at a hotel for the signing of the joint venture (JV) agreement to build Pakistan’s…
Coca-Cola to buy Rs1.43bn worth of coolers from WSPL
KARACHI: Coca-Cola Beverages will buy 1.43 billion worth of chest coolers and visi coolers from Waves Singer Pakistan (WSPL), a bourse filing said. “For the second consecutive year since its approval as a manufacturer for the supply of Coca-Cola branded freezers, Waves Singer Pakistan Limited has secured the largest corporate order from Coca-Cola. For FY…
NEPRA notifies social investment guidelines for power sector
KARACHI, PAKISTAN: Power sector regulator has notified the code to encourage initiatives to protect the environment and to effectively mitigate adverse climate change, promote the well-being of local communities and human development in the electric power sector with the purpose to ensure that power brings prosperity. The authority has implemented NEPRA Social Investment Guidelines, 2021 that…
Pakistan seeks two LNG cargoes in November 2021
KARACHI: Pakistan LNG Limited (PLL) has issued tender for the import of two LNG cargoes to be delivered on November 19-20 and November 26-27, 2021. This emergency tender came after ENI and Gunvor refused the make the deliveries in November under long-term contracts. Pakistan has a five-year import deal with Gunvor and a 15-year agreement…
Waqar Siddiqui appointed CE & MD of Shell Pakistan
KARACHI, PAKISTAN: Waqar Siddiqui has been appointed as the Chief Executive & Managing Director of Shell Pakistan Limited (SPL) with effect from November 01, 2021, a statement said. Waqar joined SPL in 2001 and has since held several roles locally and internationally at senior leadership positions. In his 24 years of oil downstream experience, he…