Business
Faysal Bank, Akhuwat join hands to promote low-cost housing
Karachi, March 09, 2021: Faysal Bank Limited and Akhuwat have come together in a strategic partnership to promote Shariah compliant affordable housing, under the Government of Pakistan’s low-cost housing finance facility for low-income individuals. The memorandum of understanding (MoU) was signed by Faysal Bank’s Head of Corporate & Investment Banking, Mr. Ali Waqar, and Dr. Amjad Saqib,…
United States and Pakistan Digitize Energy Sector
Lahore, March 9, 2021: The United States Mission to Pakistan today officially handed over an innovative new metering system to the Government of Pakistan to help network and market operators better manage the national power grid. The Secure Metering System (SMS), developed by the United States Agency for International Development (USAID), improves Pakistan’s National Transmission and…
BankIslami Reports its Highest-Ever Profitability during 2020
KARACHI, March 09, 2021: BankIslami has reported its highest-ever profitability during financial year 2020. Profit after tax closed at Rs. 1.70 billion, up by 56 percent comparing with profitability of Rs. 1.09 billion during financial year 2019. Despite downward adjustment in policy rate, net spreads of the Bank increased by 16 percent on account of…
Hub Power Holdings Limited ready to explore the Oil and Gas sector in Pakistan
Karachi, March 09, 2021: Hub Power Holdings Limited (HPHL), a wholly owned subsidiary of The Hub Power Company Limited (Hubco), together with ENI’s local employees (in a 50:50 joint venture), has executed definitive agreements to acquire all the upstream operations in Pakistan of ENI and renewable energy assets owned by ENI in Pakistan. By way…
KSE 100 closed decreased on 786pts
Karachi, March 08, 2021: PSX kicked off positive, hitting a high of +595 point on early excitement as the lower house of parliament reaffirmed its confidence in Prime Minister Imran khan by overwhelmingly voting in his favor. However this positivity couldn’t last as the market came under pressure from likely redemptions in mutual funds, pushing…