Panther Tyres announced good result for FY21

Panther Tyres Limited (PTL) announced its financial result for FY21 whereby the company declared a profit after tax (PAT) of PKR 851mn (EPS: PKR 6.08) compared to PKR 252mn (EPS: PKR 1.80) in FY20. On a quarterly basis, earnings clocked-in at PKR 199mn (EPS: PKR 1.42) against PKR 153mn (EPS: PKR 1.09) in 4QFY20 and profit of PKR 181mn (EPS: PKR 1.29) in 3QFY21.… Continue

Pakistan cement mills in northern area increased prices

According to a research report, cement prices in the North region have increased by PKR10/bag to a new all-time high of c.PKR660/bag. This is the second consecutive hike in the past week, taking total price increase to PKR20-25/bag. The major reasons for increasing cement prices is to pass on the recent increase in global coal prices (to US$133/ton, 13yr high) and transportation costs amid rising local petroleum prices.… Continue

UBG appreciates enhancement of Pakistan’s export to Italy

S M Muneer Patron in-Chief, Iftikhar Ali Malik Chairman , ZubairTufail President, Zafar Bakhtawari Secretary General , Mr Khalid Tawab Chairman Sindh UBG, other leaders and members of UBG on Executive Committee of FPCCI 2021 have highly appreciated the joint efforts of Ministry of Commerce and Embassy of Pakistan in Italy resulting in a quantum record increase of Pakistan’s exports to Italy $ 786 million in 2020-2021 which is 49 percent higher than the previous year, revealed in report of Pakistan’s embassy.… Continue

National Foods partners with WWF for ‘Lets Plant Our Future’ Campaign

With a vision to combine its industry leadership with sustainable practices, National Foods Limited (NFL) has collaborated with World Wildlife Fund (WWF) in Pakistan to protect the environment by reducing its carbon footprint, encouraging tree plantation and reforestation.

Through this resourceful collaboration for NFL’s #Lets Plant Our Future campaign, thousands of mangrove saplings are being planted which are critical to the conversation of marine life and those dependent on it along Pakistan’s coastal areas, along with other public-awareness drives under the company’s Eco-Friendly Initiative.… Continue

Engro Polymer Chemicals to post good financial result on Aug 10

Engro Polymer Chemicals Ltd (EPCL) is scheduled to announce its 2QCY21 result on August 10, 2021. The company is expected to post PAT of PKR4,602mn (EPS PKR5.06) relative to PKR4,143mn (EPS PKR4.56) in 1QCY21, implying an increase of 11%QoQ.

Revenue is expected to up by 4%QoQ to PKR16,341mn during 2QCY21 due to an increase in international PVC prices to USD ~1,494/MT by 13%QoQ.… Continue

Samba Bank modernizes to the latest Temenos Core Banking Platform with NdcTech

Samba Bank Pakistan, a fully owned subsidiary of the largest bank in the Middle East (Saudi National Bank) has signed an agreement with NdcTechto modernize to the latest Temenos Core Banking Platform. This will allow the Bank to rapidly launch new innovative products, streamline its banking operations, drive homeownership through growth in Naya Pakistan, foster SME development and lending, and seek to be the foremost trusted partner for top-tier corporates and institutions.… Continue

PSO sales increased in Pakistan during July 21

According to the research report, Oil marketing Companies (OMC) sales jacked up 4%MoM amid record car sales and rising tourism in Jul-21. Pakistan State Oil (PSO) was the biggest beneficiary during this month.

The total sales volume of OMCs advanced by 4%MoM while it rallied by 15%YoY.… Continue

Dispatches of cement fall in July 2021

Pakistan cement sector posted negative growth of 19.41 percent in July 2021. The total cement dispatches in July 2021 were 3.899 million tons against 4.838 million tons during July 2020. Monsoon rains during the month and stoppage of construction activities due to Eid-ul-Azha has seriously affected cement demand.… Continue

Valdus Esports and Alpha 7 Esports

PUBG MOBILE and Gamers without Borders have announced that Valdus Esports and Alpha 7 Esports have been crowned PUBG MOBILE World Invitational 2021 (PMWI). After four days of exciting matches, which saw the best teams from across the globe go head-to-head for a USD 3M charity pool, Alpha 7 Esports and Valdus Esports were crowned PMWI West and PMWI East champions, respectively.… Continue

MCB Bank enters into alliance with Alchemative for Internet Gateway payment services

MCB Bank Limited, one of Pakistan’s leading Banks, has entered into an alliance with Alchemative, an innovative and customer-centric technology company, for providing progressive financial and digital services to ecommerce companies. This strategic partnership is aimed at providing a one stop solution to eCommerce businesses for all of their online retail business needs.… Continue

PSX index gains 305pts today

· Market continued moving up today albeit with an improvement in traded volumes. The benchmark index added a total of 355pts during the session and closed +339pts (unadjusted). O&GMCs, Banks, Refinery, Technology and Textile sectors contributed positively to the index whereas E&P and Steel sector stocks remained under pressure.… Continue

Engro Fertilizers wins three Pakistan digital awards 21

Engro Fertilizers Limited, Pakistan’s premier seed-to-harvest solutions provider, has been recognized as the “Most Innovative Fintech Solution Provider”, “Best Payment Technology” and “Best Banking Tech of the Year” at the prestigious Pakistan Digital Awards 2021.

Faced with the challenges of COVID-19 pandemic, Engro Fertilizers was quick to adapt to the new normal and led the industry towards digitization in all respects, from customer and vendor support to digital payment solutions and virtual operations.… Continue

Huawei organized Pakistan first power sector ICT Summit

Huawei Pakistan organized the Pakistan Power ICT Summit with the aim to digitalize the power sector in Pakistan with modern practices and solutions that are used globally. The event was attended by Tariq Mahmood, CIO NTDC, Aamer Rashid, Additional DG, Muhammad Farooq Shaukat DG NTDC, Imtiaz Ahmed PITC CEO and Adnan Khadam PITC Company Secretary.… Continue