Business
NBP profit before tax declined 6pc
Karachi, May 12, 2020: The 71st Annual General meeting of National Bank was held on May 12, 2020 through electronic means. The meeting that was initially scheduled to be held on April 24, 2020, was suspended till date due to the Covid-19 lockdown. The meeting was attended by all the members of the NBP Board…
PSX index closed at a positive note
Karachi, May 12, 2020: Market went positive on the prospect of rate cut for which SBP will be taking decision by end of week, besides the Govt’.s stance on construction of Dams that is likely to generate demand for Cement and Steel. Resultantly, Cement and Steel sectors ruled the index, mostly trading near upper circuits…
Cost Audit of 5 sectors should continue to maintain competition: CCP
Karachi, May 12, 2020: The Competition Commission of Pakistan (CCP) has issued a Policy Note recommending that the Securities & Exchange Commission of Pakistan (SECP) restore the requirement of cost audit of five sectors in particular, and all other sectors in general, for facilitating policy interventions and promoting competition. The CCP’s specific recommendation is the…
Emirates group reports profits in 2019-20
Karachi, May 11, 2020: The Emirates Group today announced its 32nd consecutive year of profit, against a drop in revenue mainly attributed to reduced operations during the planned DXB runway closure in the first quarter, and the impact of flight and travel restrictions due to the COVID-19 pandemic in the fourth quarter. Released today in…
State Bank enhances scope and financing limits under its Rozgar Scheme
Karachi, May 11, 2020: Since its launch of Refinance Scheme to Support Employment and Prevent Layoff of Workers, called Rozgar Scheme in common parlance, State Bank has been constantly receiving feedback from various stakeholders, making the scheme more facilitative for businesses and creating incentives to prevent layoff of employees under current COVID Pandemic scenario. Many…