Technology & Business

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 […]

PIA 777 impounded in kualumpur for not paying Lease amount

Pakistan’s Exports increased 18% YoY & imports surged 25% during December, 2020

Relaxation of Tax granted to IT Industries for 10 years – Amir Ahmad Hashmi

Forex Reserves inched up by 0.79% to USD 20,402.40Mn

World News

PSX Stock Market

Unity Foods Ltd approved acquisition of 31% shares of Sunridge Food (Pvt) Ltd

Unity Foods Limited approved in principle acquisition of 16,467,818 (31%) shares of Sunridge Food (Pvt) Ltd at Rs. 28 per share. It may be noted that the company also holds 69% shares of of Sunridge Food (Pvt) Ltd. This acquisition is subject to approval of shareholders for which General Meeting will be convened in due […]

Service Global Footwear Ltd enters as shareholder in JV for Greenfield Project

SECP enlisted Investors Hub (Ascamo Analytics Pvt Ltd) in list of Notified Research Entities

PSX

TOMCL awarded an approx $3.9Mn to supply frozen boneless meat to biggest Food Processor in Middle East

In a latest notification to PSX the Organic Meat Company Limited (PSX: TOMCL) has secured a high value contract for supply of frozen boneless meat with a multinational customer National Food Company (Americana) in Saudi Arabia. This group is considered to be one of the largest Food manufacturing and distributing company in the region.

Agritech Ltd shut down the Urea plant

PREMA won the Brand of the Year Award 2020 for the 2nd Consecutive year

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SAZEW Sales declined by 22% during March, 2021

In a latest notification to the Stock Exchange, the Sazgar Engineering Works Limited (PSX:SAZEW) announced the production & sales data for the month of March 2021. SAZEW Production Units were recorded at 1,193 units, showing a decline of 12% on Monthly basis. While 1,209 units were sold as compared to the 1,553 units sold in February.

ENGRO’s board approved an amount of USD 31.4Mn towards conducting study in relation to the PDH-PP Project.

This is in continuation to our letter to the PSX dated April 26, 2019, in relation to the company’s intent to explore investment opportunities in the petrochemical sector and the approval by the Board of Directors of the company (the “Board”) for commencement of a study in relation to a polypropylene facility based on propane dehydrogenation (“PDH-PP Project”). We are pleased to announce that the Board in its meeting held on April 8th, 2021, has approved an amount of up to USD 31,400,000/- (USD thirty-one million four hundred thousand), or the equivalent in PKR, towards conducting engineering, design and technical

Avanceon awarded contract to Automate Fuel Retail Sites for a Leading Oil Marketing Company

Avanceon Limited has been contracted to deploy a state-of-the-art fuel retail automation solution for one of the largest oil marketing companies in Pakistan. The fuel retail automation solution will be deployed on multiple sites and integrated with the customer’s central remote monitoring system. Fuel Retail Automaton plays a critical role in improving consumer experience and supporting sustainable growth for oil marketing companies. The solution keeps human error and fuel adulteration in check and reduces costs by increasing monitoring and efficiency which in turn drives sales. Through flexible integration, oil marketing companies have the opportunity to increase the productivity of their retail

TOMCL granted registration by Chinese Custom Authorities for the export of heat-treated meat

The Organic Meat Company Limited (TOMCL) in a notification to PSX informed that it has received approvals and has been granted registration by Chinese customs authorities for the export of heat-treated beef meat to the People's Republic of China. The Company has pioneered the heat treatment process whereby Foot and Mouth Disease (FMD) virus can be removed from beef meat. This process will enable us to access more markets for value-added meat products.

SEARL has concluded an exclusive licensing & supply agreement with Livzon Mapharm Inc

SEARL in a notice informed that it has concluded an exclusive licensing & supply agreement with Livzon Mapharm Inc for the "recombinant novel coronavirus vaccine(V-01)' which also covers manufacturing transition of (V-01) in Pakistan.

SAZEW to manufacture commercial vehicles under brand GWM “HAVAL”

SAZEW in a notification to PSX, announced that the Company has applied to relevant Government Authorities for obtaining approval for manufacture/assembly, sales & after sales service of passenger & commercial vehicles under brand GWM "HAVAL".

Recent News

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

PIA 777 impounded in kualumpur for not paying Lease amount

PIA Boeing 777 registration APBMH operating flight islamabad Kuala Lumpur Islamabad is impounded by the Malaysian Authorities in Kuala Lumpur by orders of the court which was approached by the lessor of the aircraft. The leasing company has not been paid the lease amount hence they approached the courts there. PIA managment has not paid […]

Economy

Pakistan’s Exports increased 18% YoY & imports surged 25% during December, 2020

Pakistan Bureau of Statistics (PBS) revealed the exports from the country increased by 4.98 percent during the first half (H1) of the current fiscal year (2020-21) as compared to the corresponding period of last year. The exports from the country during July-December (2020-21) were recorded at $12.098 billion against the exports of $11.524 billion during […]

Economy IT

Relaxation of Tax granted to IT Industries for 10 years – Amir Ahmad Hashmi

Amir Ahmad Hashmi head of Special Technology Zone Authority in a meeting of launch ceremony of Special Technology Zone Authority announced the relaxation of Tax to IT Industries for 10 years.

Economy

Forex Reserves inched up by 0.79% to USD 20,402.40Mn

As per the data released by the SBP, the Pakistan’s Forex Reserves increased by USD 160.60 Million or 0.79% and the total liquid foreign reserves held by the country stood at USD 20,402.40 Million on Dec 04, 2020.

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