Corporate announcements on Pakistan Stock Exchange (PSX)
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 stood at US$1.3 billion, compared to US$1.4 billion in the…
KARACHI: In a bid to strengthen the microfinance sector in Pakistan and promote financial inclusion, U Microfinance Bank (U Bank) and Bank Alfalah Limited have entered into a strategic partnership to collaborate on a short-term financing facility of PKR 10…
Country’s telecom authority, the Pakistan Telecommunication Authority (PTA), has reportedly launched an investigation into the alleged internet shutdown that occurred on Sunday, ahead of a virtual meeting of the opposition party Pakistan Tehreek-i-Insaf (PTI). Prime Minister Imran Khan, is facing…
KARACHI: Pakistan’s auto assembling sector has been in the spotlight at the Pakistan Stock Exchange (PSX) outperforming the KSE 100 Index by 12% since Pak Suzuki (PSMC) announced its voluntary delisting on October 12, 2023. According to an analyst at…
KARACHI, UK: United Bank Limited (UBL) has announced its plans to establish an exchange company with a paid-up capital of PKR 1.0 billion, subject to approval by the State Bank of Pakistan and other regulatory compliances. The exchange company will…
KARACHI: As Pakistan grapples with skyrocketing petrol prices, a glimmer of hope has emerged on the horizon with the announcement of a groundbreaking initiative by a new start-up company. Zyp Technologies, the innovative firm in question, has unveiled ambitious plans…
KARACHI: Pakistan’s automobile industry experienced a significant surge in sales during the month of August 2023, with a staggering 7.6K units sold. This surge, representing a 49% month-on-month (MoM) increase, has sent ripples of optimism throughout the industry. However, it’s…
KARACHI: Indus Motor Company, the producer of Toyoto cars, announced that its Hybrid facility is under construction and it plans to launch the HEV car in the next four to six months. The company said at a briefing that it…
KARACHI, PAKISTAN: The Oil & Gas Development Company Limited (OGDCL) has achieved a major boost in its hydrocarbon production from the Siab-1 well, located in the Baratai Block of Kohat district, Khyber Pakhtunkhwa province. The well is operated by OGDCL,…
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), the regulator of the non-banking finance sector, has taken strict action against illegal loan apps that were operating without its approval and posing a threat to the public. The SECP, in…
KARACHI, PAKISTAN: Summit Bank Limited announced that the State Bank of Pakistan has granted its consent to change Summit Bank’s name to Bank Makramah Limited (abbreviated as BML). This will become effective subject to other regulatory and corporate approvals. This…
KARACHI, PAKISTAN: Shell Pakistan Limited (SHEL) is set to be sold by its parent company, Shell Global. The announcement was made in a notice to the Pakistan Stock Exchange (PSX). Shell Global has a 77.42% stake in SHEL, and the…