Business
Pakistan Cements: Profit more than doubles in 2QFY21
Karachi, March 1 , 2021: Pakistan cement sector posted profit of Rs11.3 billion during 2QFY21, up 114 percent QoQ due to increase in GP margins by 600bps QoQ, increase in sales by 18 percent QoQ, and decline in finance cost by 12 percent QoQ. Total profit during 1HFY21 clocked in at Rs17 billion compared to…
Faysal Bank sponsors 6th SOP Unified Marathon 2021
Karachi, March 1, 2021: Promoting its mission of inclusivity, Faysal Islami, one of the leading Islamic banks in Pakistan, was the platinum sponsor for the 6th Special Olympics Pakistan Unified Marathon 2021, held at Emaar Pakistan on 28th February, 2021. Identified as one of the big-scale social initiatives in Karachi, the event is held every…
2020 LNG demand holds steady despite COVID-19, set for growth as global economies recover
Karachi, February 27, 2021: Global liquefied natural gas (LNG) trade increased to 360 million tonnes in 2020, according to Shell’s latest annual LNG Outlook published today, despite the unprecedented volatility caused by the COVID-19 pandemic which resulted in lockdowns around the world. Though marginal, the increase in volume reflects the resilience and flexibility of the…
KSE-100 closed decrease on 0.8pc
Karachi, February 27, 2021: The market remained on the back foot for most of the week, finally ending down on 45,865 levels (down 0.8 Percent WoW). A correction was on the cards, given the week coincided with the futures’ rollover. Nonetheless, activity retained its buoyance of recent weeks, relatively unchanged at an average of 589 million/day…
Pak widening trade deficit can be restrained through ‘import deletion’ under PPP: PAAPAM
Karachi, February 27, 2021: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has asked the government to give the export industry status to the local vending industry, which is fully capable of bridging the huge gap of ever-rising trade deficit not only through enhancing exports but also controlling unbridled imports through ‘import deletion’…