PIA postpones direct flights to Australia
Pakistan International Airlines (PIA) has postponed its direct flights to Sydney, which were scheduled to commence on April 22, after the Australian Home Ministry decided to review security arrangements at the Lahore and Karachi Airports. “The PIA is postponing the first two flights until the review is completed,” PIA spokesman Abdullah Hafeez Khan said in…
Adil Aziz
Reconfiguration activity on submarine cable completed
Pakistan Telecommunication Authority (PTA) said that the power reconfiguration activity on a section of international submarine cable, SMW 4, has been completed at around 03:00 am, on Thursday as per schedule. This was a routine scheduled maintenance activity. All internet services are normal throughout the country, said a news release.
Fertilizer industry to enable over USD 5.3 billion import substitution
The local fertilizer Industry is providing urea at around 84 percent discount, equivalent to Rs 9,823 per bag and is expected to enable import substitution of USD 5.3 billion in 2022. Discussing the latest business results and future outlook in first quarter analyst briefing, Imran Ahmed – Chief Financial Officer of Engro Fertilizers shared that…
FrieslandCampina Engro Pakistan Limited posts strong financial results in Q1, 2022
FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for Q1 on April 20, 2022. The Company reported revenue of PKR 14 billion in the first quarter, showcasing 20.7% growth versus last year. The growth was led by improvement in the portfolio mix, coupled with an increase in volumes of both, the Dairy & Beverages…
Aptma urges government to announce Rs 8,000 Per Maund as Cotton Support Price
Pakistan is losing at least $ 5 billion directly on account of low production of cotton. Increase in cotton production will have a direct impact of $ 1 billion per 1 million bales and a 7 times multiplier impact on the fiscal flows in economy. Cotton provides livelihood and employment to millions of the poor…
HBL Q1 2022 Profit rises to Rs. 14.6 billion driven by strong business volumes
HBL today declared a consolidated profit before tax of Rs. 14.6 billion for the first quarter of 2022 and a profit after tax of Rs. 8.6 billion, both higher than in the same period last year. The Q1’22 results include a one-time severance charge of Rs. 2.6 billion. Excluding the impact of this one-time charge,…
MMBL partners with BaKhabar Kissan to foster a smart digital ecosystem for its growing Agri-customers across Pakistan
Pakistan’s largest digital bank, Mobilink Microfinance Bank Ltd (MMBL) has partnered with BaKhabar Kissan (BKK), a leading agri-tech enterprise that provides advisory services to small and medium farmers across the country. Through this strategic alliance, smart digital financial and agri-tech solutions will be offered to MMBL’s growing base of agri-customers to help farmers identify, assess…
Simultaneous recruitment of 50,000 schoolteachers proves Sindh govt, PPP leadership stand fully committed to cause of education: Saeed Ghani
Sindh Information and Labour Minister, Saeed Ghani, said that the recruitment of 50,000 schoolteachers at a time in the province on meritorious grounds proves the commitment of Sindh government and the top leadership of the ruling Pakistan People’s Party to the cause of education. The Sindh Information and Labour Minister stated this on Monday while…
Bank AL Habib declares Rs. 4.96 billion profit after tax
The Board of Directors of Bank AL Habib Limited (the Bank) announced the Bank’s financial results for the period ended 31 March 2022. The Bank posted profit after taxation of Rs. 4.96 billion i.e. an increase of 7.88 percent compared to corresponding period last year. The Bank’s profit before tax was recorded at Rs.8.18 billion,…
AACSB’s ‘Innovations That Inspire’ initiative recognizes Suleman Dawood School of Business at LUMS
The Association to Advance Collegiate Schools of Business (AACSB), the world’s largest business education alliance, has featured the Suleman Dawood School of Business (SDSB) in its Innovations That Inspire member spotlight programme. SDSB is one of 24 business schools worldwide to receive this honourable recognition this year for its Women’s Scholarship Initiative. The SDSB Women’s…