Food ‘giant’ Gourmet set to launch TV channel
As per reports, earlier in 2016, the company bought the struggling Jaag TV, with an estimated investment of Rs1.5 billion, in a bid to break into the media industry
Dollar resurgence halting emerging market rate cut cycle
With the dollar on the rise, emerging currencies have weakened some 3 percent in the past two weeks, as measured by a JPMorgan index
New York’s Plaza Hotel going global, acquired for $600 million
Shahal Khan, founder of White City ventures has a lot of businesses in Pakistan
NLC to start assembly of Mercedes-Benz trucks in Pakistan
Daimler AG, owners of Mercedes Benz and The National Logistics Cell (NLC) have signed a memorandum of understanding (MoU) for the local assembly and production of Mercedes‐Benz trucks in Pakistan.
Cement industry capacity utilisation touches 95 per cent
According to data released by All Pakistan Cement Manufacturers Association (APCMA), the industry despatched 4.237 million tonnes of cement in April 2018 that was 17.46 per cent higher than the despatches of 3.576 million tonnes achieved during the corresponding month of last fiscal.
US military bans Huawei, ZTE phones
Personnel on US military bases can no longer buy phones and other gear manufactured by Chinese firms Huawei and ZTE after the Pentagon said the devices pose an “unacceptable” security risk.
PAC, PEC at loggerhead on issuance of illegal license to foreign firms
PAC two months back had asked PEC to provide information about the number of licenses issued to foreign firms for execution of construction projects
FBR unfreezes PIA’s bank accounts after it reassures timely payment
The Federal Board of Revenue (FBR) froze Pakistan International Airlines’ (PIA) bank accounts after the national airline failed to submit dues timely.
Market Daily: Indices continue to bleed, shed 640.19 points intraday
The KSE 100 index had a huge fall, chopping off 640.19 points to fall to intraday low of 44,556.18. it settled with a loss of 1.01 per cent or 449.74 points at 44,746.63.
Shadow banking grows in Abid market, as conventional banks fail
Numerous shops in Abid Market that provide electronic products on instalments to interested consumers, charge markup rates as high as 30 to 40 per cent in some cases. However, despite such high markup rates, a large number of consumers daily flock to the market to buy electronics on instalments.
A bank sold for just Rs1,000. Does it make any sense?
Profit demystifies the controversy over the sale of KASB Bank
Engro poised to set up first Pak merchant LNG terminal
The $500 million joint venture with Shell, Gunvor, and Fatima Group will allow Engro to import, regasify and sell liquified natural gas without the need for government contracts.
Why should Suzuki improve models, if people continue to patronise?
Hirofumi Nagao, former Pak Suzuki CEO having served the last of his third stint in Pakistan, fires a shot across the bow for new entrants: ‘Talk is cheap, in practice competing is difficult’.
Affluent businesses enjoyed tax exemptions worth Rs540bn
The federal government has given Rs540 billion worth tax exemptions to affluent businesses during the current fiscal year, economic survey documents reveal.
Govt to increase duties on 7,000 imported items, gradual elimination of super tax
Finance bill documents indicate that Federal Board of Revenue (FBR) has suggested decreasing the advance tax on banking transaction for non-filers by 0.4 per cent permanently.