Technology & Business
Octopus Digital Ltd applies for listing at PSX
Octopus Digital Ltd, subsidiary of Avanceon Limited applies for listing at PSX. The Company shall be issuing 27,350,000 Ordinary Shares using Book Building Method at a Floor Price of PKR 29/share. The Draft Prospecturs of the Issuer is being placed on the PSX website for seeking public comments.
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CHCC has approved the installation of a Green Field Cement plant
Cherat Cement Company Limited (PSX: CHCC) in a latest notification to the stock Exchange announced that the Board of Directors has approved the installation of a green field cement plant at D.I. Khan, KPK with an installed production capacity of 11,000 tons/ day of clinker. Total cost of the project is estimated to be approximately […]
Unity Foods Ltd acquired 100% shares of Sunridge Foods
Unity Foods Limited (PSX: UNITY) in a notification to PSX announced that it has completed the acquisition of 31% shares of Sunridge Foods and now owns 100% shares of the company.
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Panther Tyres enters into a contract with Al-Ghazi Tractors
Panther Tyres Limited (PSX: PTL) in a notification to PSX, announced that it has entered into a contract with Al-Ghazi Tractors Limited (PSX: AGTL) for regular supply of tractor tyres.GGL commenced the trading activities of Energy Storage Devices
Ghani Global Holdings Ltd (PSX:GGL) in a notification to PSX, announced that it has commenced the trading activities of the Energy Storage Devices in Pakistan. Ghani Global announced to enter into JV agreement for setting up of manufacturing facility, sales and marketing of Technology Solutions in Pakistan along with the JV partner M/s Kilowatt LAbs Inc. USA by subisidary of company name Kilowatt Labs Technologies Limited.
CPI Inflation increased by 10.9% on YoY in May 2021
CPI Inflation Rate (New Base 2015-16) increased by 10.9% on year-on-year basis in May 2021 as compared to an increase of 11.1% in the previous month and 8.2% in May 2020. On month-on-month basis, it increased by 0.1% in May 2021 as compared to an increase of 1.0% in the previous month and a increase of 0.3% in May 2020.
Systems Ltd completed its due diligence in the acquisition of a minority shareholding in Retailistan (Private) Limited (RPL)
Systems Limited having completed its due diligence in the acquisition of a minority shareholding in Retailistan (Private) Limited (RPL), presented the case to the Systems Limited Board in it meeting on May 28th 2021. The board approved the acquisition of 20% of the shares of RPL at a cost of Rs. 468 million and authorized the Systems Management to do this investment through its whole owned subsidiary Systems Ventures (Private) Limited (SVL). Founded in 2015 RPL is a leading technology company focused on the digitalization of the retail supply chain in Pakistan. The company was founded and is managed by aMPS: SBP maintained the Policy rate at 7%
At its meeting on 28th May 2021, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent. Since its last meeting in March, the MPC was encouraged by the further upward revision in the FY21 growth forecast to 3.94 percent. The MPC noted that this confirms the strength of the broad-based economic rebound underway since the start of the fiscal year, on the back of targeted fiscal measures and aggressive monetary stimulus. This positive momentum is expected to persist, translating into higher growth next year.
HSM approved the CAPEX amounting to Rs. 750Mn for improving the efficiency of the plant
Husein Sugar Mills Limited (PSX: HSM) in a notification to stock exchange announced that the Board of Directors of HSM has approved CAPEX amounting to Rs. 750Mn for improving the efficiency of the plant by inducting latest energy-efficient technology.Fashion Trends
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CPI Inflation increased by 10.9% on YoY in May 2021
CPI Inflation Rate (New Base 2015-16) increased by 10.9% on year-on-year basis in May 2021 as compared to an increase of 11.1% in the previous month and 8.2% in May 2020. On month-on-month basis, it increased by 0.1% in May 2021 as compared to an increase of 1.0% in the previous month and a increase […]
MPS: SBP maintained the Policy rate at 7%
At its meeting on 28th May 2021, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent. Since its last meeting in March, the MPC was encouraged by the further upward revision in the FY21 growth forecast to 3.94 percent. The MPC noted that this confirms the strength of the broad-based […]
Pakistan posts Current Accout Deficit of USD200Mn in April 2021: SBP
Pakistan reports Current Account Deficit of $200mn for the month of April 2021 as compared to a deficit of US$510mn in April 2020, 61% lower than in Apr20. Through the first 10mths of FY1, CAB remains in surplus of $800mn, a significant turnaround from the $4.7bn deficit during the same period last year. The SBP […]
ECC approves the removal of dividend distribution cap on MPCL
The Economic Coordination Committee (ECC) was presided over by Minister for Finance and Revenue Dr Abdul Hafeez Shaikh on Wednesday received a summary from the Petroleum Division for removal of dividend distribution cap on Mari Gas Company Limited (MPCL) under Gas Pricing Agreement as the company is being considered for privatisation. The ECC of the […]
MPC: Policy rate remains stable at 7%
The Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent. The MPC noted that since the last meeting in November, the domestic recovery has gained some further traction. Most economic activity data and indicators of consumer and business sentiment have shown continued improvement. As a result, there are upside risks to […]