There is an ample scope of Islamic banking and finance in western African region and Senegal can play a vital role in elevating it through the countries. It was spoken by Muhammad Zubair Mughal, Chief Executive Officer AlHuda Centre of Islamic Banking and Economics (CIBE) while attending an international seminar on Takaful that was held at Dakar Senegal.
K-Electric has expressed its pride in announcing that the KE SUKUK issue of PKR 22 billion, including a green shoe option of PKR 2 billion, has been fully subscribed on its launch day. The Sukuk has a tenor of 7 years and is rated AA+ by the JCR-VIS Credit Rating Agency Limited.
Macroeconomic conditions towards the end of FY15 have further improved compared to the beginning of the fiscal year. Current account deficit has narrowed down; average annual inflation is significantly below the target; there is a marginal uptick in real GDP growth; and foreign exchange reserve buildup continues.
A renowned Social Worker & TV Artist Mrs. Jehan Ara Hai cutting the ribbon of inauguration of 24th Annual
Eid Card Competition at Bait al Hikmah Auditorium, Madinat al Hikmah organized by Hamdard Public School &
Hamdard Village School. Mrs. Sadia Rashid, President, Hamdard Foundation Paistan, Fatema Munir Ahmed,Vice President Madinat al Hikmah , Prof.
A dinner reception hosted by the Karachi Chamber of Commerce and Industry (KCCI) and the Businessmen Group (BMG) to mark 18 years of Public Service of Businessmen Group from KCCI’s platform at PAF Convention Center recently.
Chairman Businessmen Group (BMG) and Former President of the Karachi Chamber of Commerce and Industry (KCCI), Siraj Kassam Teli, while strongly criticizing the passage of Gas Infrastructure Development Cess (GIDC) Bill 2015 by the Parliaments, urged the business and industrial community of Karachi, particularly the textile sector, to lodge protest against this anti-business move of the government.
Operation Burq, KE’s campaign against defaulters and thieves continued with some positive results as some residential and commercial thieves were targeted. KE’s team with the help of FIA, Sind Police and Pakistan Rangers raided almost 80 different spots today which included North Karachi, Nazimabad, Defence, Gulshan, Surjani, Korangi, Clifton, Bahadurabad, Lyari, Baldia, Gadap, ShahFaisal, Malir and Johar, says a statement.
Sachal Energy Development (Pvt) Limited, a wholly owned subsidiary of Arif Habib Corporation Limited has announced that they have been sanctioned financing of US $107 million from Industrial and Commercial Bank of China (ICBC) World’s Largest Bank.
It may be mentioned here that Sachal Energy has signed a financing agreement with Industrial and Commercial Bank of China (ICBC) for Sachal Wind Power Plant.
Telenor Pakistan’s youth centric brand, djuice, has declared open the annual Apportunity Contest 2015 –a competition to hunt for the best mobile phone applications (apps) developed by Pakistani students and young software developers. Building on its previous success and popularity, the competition is being organized for the fifth consecutive year.
Mr. Abdul Rahim Janoo, Senior Vice President stated that Jute industry is playing a vital role to promote Pakistan economy with various exportable items during his meeting with Mr. Malik Jehangir, Chairman and other members of Jute Association of Pakistan who visited Federation House, Karachi today.
The All Pakistan CNG Association (APCNGA) has expressed serious reservations over GIDC Act terming it discriminatory. The Act will not treat different gas consuming sectors on equitable basis while recovery of GIDC of the past years and mark up is illegal, said Ghiyas Abdullah Paracha, Chairman Supreme Council APCNGA.
Mian Muhammad Adrees, President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the Ministry of Finance to present the forthcoming federal budget as business friendly. He further said that in the forthcoming budget the problems of common people should also be considered on priority basis.
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