Systems Limited posts 31% increase in net profit during 2023

KARACHI, PAKISTAN: Systems Limited (SYS), a leading technology and telecommunications service provider, has reported a robust financial performance for the calendar year 2023. The company’s profit after tax (PAT) soared…

NNR March 25, 2024

PSX

Pakistan’s power generation hits a 3.5-year low amid cost fluctuations

Why wind is underutilized in Pakistan for power generation? KARACHI: Pakistan's power generation has plummeted to its lowest in over three years. February 2024 saw a significant 14% month-on-month (MoM)…

NNR March 20, 2024

PSX

Engro Fertilizers takes action to reinforce urea pricing regulations

KARACHI: Engro Fertilizers, a leading agricultural support company, has taken decisive steps to ensure the enforcement of urea pricing guidelines in line with the Government's directives. The move aims to…

NNR March 15, 2024

PSX

Acquisition of Advans Microfinance Bank by MNT – Halan Pak B.V. approved

ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of Advans Pakistan Microfinance Bank Limited by a Dutch-based holding company, MNT–Halan Pak B.V. This transaction marks a significant…

NNR March 14, 2024

PSX

How GST hike could spell doom for Pakistan’s auto industry

Pakistan's auto industry is facing a crisis as the government plans to increase the goods and services tax (GST) on small size sedans from 17% to 25%. This move could…

NNR February 21, 2024

PSX

Pakistan’s textile exports rise by 10% in January

LAHORE: Pakistan's textile exports have shown a remarkable growth of 10% year-on-year in January 2024, reaching US$1.45 billion, according to the latest data released by the Pakistan Bureau of Statistics…

NNR February 19, 2024

PSX

Descon and IFC join hands to reduce postharvest losses in Pakistan

KARACHI: Descon, a leading industrial conglomerate, and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a Memorandum of Understanding (MoU) to address the postharvest…

NNR February 2, 2024

PSX

Engro Corporation appoints Ahsan Zafar Syed as new CEO

KARACHI: Engro Corporation, a leading Pakistani business group, has named Ahsan Zafar Syed as its next President & CEO, effective from May 2024. He will succeed Ghias Khan, who has…

NNR January 31, 2024

PSX

Pakistan automobile sales hit by multiple factors in Dec’23, PAMA reports

KARACHI: The Pakistan Automotive Manufacturers Association (PAMA) released its monthly data for Dec’23, revealing a dismal performance of the automotive industry. According to PAMA, the total sales of passenger vehicles…

NNR January 11, 2024

PSX

Pakistani banks shine in Asia-Pacific as stock market rallies to record highs

Pakistani banks dominated the list of the best-performing bank stocks in the Asia-Pacific region in the last quarter of 2023, as the Pakistan Stock Exchange (PSX) soared to new heights…

NNR January 10, 2024

PSX

Petroleum sales slump in Pakistan amid high prices and low demand

ISLAMABAD: The sales of petroleum products in Pakistan witnessed a sharp decline of 7% year-on-year (YoY) in December 2023, reaching 1.24 million tons, according to the latest data released by…

NNR January 2, 2024

PSX

Pakistan’s textile exports decline by 7% in November 2023

ISLAMABAD: Pakistan's textile exports fell by 7% year-on-year in November 2023, according to the latest data released by the Pakistan Bureau of Statistics (IPBS). The total value of textile exports…

NNR December 22, 2023