Technology & Business

IT PSX

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.

CPI Inflation increased by 10.9% on YoY in May 2021

Systems Ltd completed its due diligence in the acquisition of a minority shareholding in Retailistan (Private) Limited (RPL)

MPS: SBP maintained the Policy rate at 7%

Pakistan posts Current Accout Deficit of USD200Mn in April 2021: SBP

World News

PSX

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 […]

Octopus Digital Ltd applies for listing at PSX

Panther Tyres enters into a contract with Al-Ghazi Tractors

PSX

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.

KAPCO announced Dividend of Rs 5 per share

SAZEW monthly sales declined by 11% in May

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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 a

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 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.
Economy

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 […]

Economy

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 […]

Economy

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 […]

Economy Stock Market

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 […]

Economy

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 […]

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