HBL suffers after hefty fines, declares profits down 77pc YoY
LAHORE: Habib Bank Limited (HBL) posted its consolidated net profit after tax of Rs7.83 billion, with earnings per share of (EPS) Rs5.34...
OMV Pakistan divests upstream business to United Energy for $192 million
KARACHI:Â OMV AG, the Vienna-Austria-based integrated oil and gas company, has agreed to sell its upstream, exploration and production, business in Pakistan to...
German car sales stuck in reverse gear
FRANKFURT:Â New car registrations in Germany fell back in April, official data showed on Friday, in a sign the vital industry is still...
Currency swap agreement with Pakistan on horizon: Iranian Ambassador
From July-March of the current financial year 2017-18, trade figures registered a fall as imports from Iran were recorded at $5 million compared to exports of $17.155 million, as per Ministry of Finance figures
Govt plans $500m green bond to fund hydropower projects
The government is planning to issue a $500 million green bond in the next few months to help boost the development of...
Government, Etisalat may find middle ground to resolve $800mn dues controversy
ISLAMABAD: Resumption of talks between the government of Pakistan (GoP) and Dubai-based Etisalat may lead to resolving the much-awaited $ 800 million...
Naveena Group to launch steel plant at Port Qasim
KARACHI: Naveena Group, a conglomerate dealing in textile exports, spinning, wind power and other business sectors, on Sunday announced the launch of...
Pakistan’s first mechanised coal/clinker terminal becomes operational
Pakistan’s first state-of-the-art mechanised, coal, clinker and cement bulk cargo terminal at Port Qasim has commenced its hot commissioning, becoming fully operational...
SBP to introduce ‘Cashless Banking’ through ordinary phones
The State Bank of Pakistan (SBP) is going to introduce Cashless Banking through Asan Mobile Accounts (AMA) from 1st July 2017, due...
Dutch telecom giant VEON acquires Dhabi Group’s stake in Jazz for $273m
LAHORE: VEON, a leading global provider of connectivity and internet services, in an official statement announced that it has successfully concluded the...
Vietnam aims to take trade with Pak to $1 bn
LAHORE: The Vietnamese want to take bilateral trade with Pakistan from the current $700 million to $1 billion, as economic and trade...
Unilever CEO Polman to retire, replaced by beauty head Jope
At the helm of Unilever for 10 years, Polman generated big returns for shareholders totalling 290 percent over the period, expanded its presence in emerging markets, and in 2017 fended off a $143 billion takeover approach by Kraft-Heinz
Knitwear industry mulls nationwide protests over ‘unjust’ power tariff
LAHORE: The value-added knitwear industry on Thursday warned the federal government of launching countrywide protests from next week if it (government) fails...
Nestlé Pakistan announces Rs3.38bn profit after tax, down 17.3pc YoY
LAHORE: Nestlé Pakistan Limited in a notification to Pakistan Stock Exchange (PSX) on Monday, released its financial results for the period ended...
Crude oil production stands at 24.2 mbl in nine months
Pakistan’s domestic crude oil production stood at 24.2 million barrels (mbl) in first three quarters of the current fiscal year as compared...