Standard Chartered Bank posts record profit before tax of Rs 38.1Billion
Standard Chartered Bank (Pakistan) Limited said in a statement that it has delivered a record profit before tax of PKR 38.1 billion for H123, registering an increase of 73 per cent year on year. Profit after tax grew by 132% year on year to PKR 18.8 billion during the first half of the year. Performance…
Adil Aziz
EU Ambassador, Commerce Minister discuss trade enhancement, export goals
Dr. Riina Kionka, Ambassador of European Union to Pakistan, called on Dr. Gohar Ejaz, Caretaker Federal Minister for Commerce & Industries, in Ministry of Commerce and congratulated him for assuming this important portfolio. Commerce Minister appreciated the unilateral trade concession of GSP Plus to Pakistan by EU, which is of great importance to Pakistan export…
Sandwich chain Subway agrees to sell itself to Roark Capital
SANDWICH chain Subway has agreed to sell itself to private equity firm Roark Capital, the company said on Thursday (Aug 24), amid its struggles with intensifying competition and rising costs. The terms of the deal were not disclosed, but Reuters reported earlier this week that Roark was in the lead to acquire the privately held…
State Life Insurance Company agrees to continue Health Cards facilities
The State Life Insurance Company agreed to provide services on health facility cards by restoring treatment on Health Card by August 31. In this connection the State Life Insurance Company has informed Chief Executive Officer Health Card Plus of their decision as the premium under the program has increased to Rs 85.3 billion with Rs…
FPCCI & Pakistan to be Chair at China-South Asia Business Forum 2024: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, while participating in the 16th China – South Asia Business Forum held in Kunming China organized by the China Council for Promotion of International Trade (CCPIT) highlighted the need for trade and regional integration between China and South Asian countries. Also, in a major achievement for FPCCI, Pakistan after…
President for exploring new horizons with export compatible products
President Dr Arif Alvi stressed upon the business and industrialist communities to explore new avenues in the global market by introducing innovative value addition goods to supplement country’s exports, besides enhancing their outreach in the world. The president was addressing 2nd Achievement Recognition Ceremony of Sargodha Chamber of Commerce and Industry (SCCI) which was arranged at…
PSX witnesses mixed response trend
The three top-trading companies were WorldCall Telecom with 20,986,139 shares at Rs 1.27 per share; Oil and Gas Dev with 16,050,104 shares at Rs 100.06 per share and JS Bank Ltd with 12,258,500 shares at Rs 5.92 per share The 100-index of the Pakistan Stock Exchange (PSX) on Wednesday (August 23) witnessed mixed trend as…
Generative AI likely to augment rather than destroy jobs: UN agency finds
Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather than taking over a role entirely, a new study from the International Labour Organization (ILO), a Geneva-based UN agency, has found. The study provides a global analysis of the potential exposure of occupations and tasks to AI and…
President directs refund of Rs 4.1 Million to bank fraud victims
Muslim Commercial Bank (MCB) and one by Allied Bank Ltd (ABL) against the orders of the Banking Mohtasib directing these banks to refund the lost amount to victims of bank fraud President Dr Arif Alvi has directed two private banks to return a collective sum of Rs 4.1 million to four customers, who were swindled…
US, UK and China top 3 destinations of Pakistani exports
The United States (US) remained the top export destination of Pakistani products during the first month of the current financial year 2023-24, followed by the United Kingdom (UK) and China. Total exports to the US during July 2023 were recorded at US $432.803 million against the exports of US $499.686 million during July 2022, showing…