Business
Finance division dismisses speculations on IMF review
Karachi, February 17, 2020: The Ministry of Finance has described as misleading and factually incorrect a news item published in a section of the press suggesting that tough prior actions [are] needed for IMF’s $452 million third tranche. In an official statement issued here, the Ministry of Finance has stated that it is completely normal…
PSX index closed on a positive note
Karachi, February 17, 2020: Market witnessed dull activity today barely trading 100 million shares, even lower than 118 million shares observed on Friday. E&P, Fertilizer, Cement and OMCs bore selling pressure, and even Banking sector (barring HBL) faced selling pressure. News related to HBL’s irregularities in New York branch caused panic amongst investors, however, HBL…
Byco posts 1HYF of Rs. 213mln, despite a challenging environment
Byco Petroleum Pakistan Ltd. earned a net profit of Rs 213 million in its half-year ended December 2019, up 139% from Rs 89 million a year earlier The business environment remains challenging due to the economic slowdown and weak demand for refined products, particularly HSFO Karachi, February 17, 2020: Byco Petroleum Pakistan Ltd. (BPPL), announced…
Meezan Bank announces Financial Results for Year 2019
Karachi, February 14, 2020: The Board of Directors of Meezan Bank Limited in its meeting, held at Karachi on February 12, 2020 approved the audited unconsolidated financial statements of the Bank and its consolidated financial statements for the year ended on December 31, 2019. The meeting was presided by Mr. Riyadh S.A. A. Edrees –…
Soneri Bank announces Year End Results for 2019
Karachi, February 14, 2020: The Board of Directors of Soneri Bank Limited, in their 175th meeting held in Lahore on 13th February 2020, approved the Bank’s financial statements for the year ended 31 December 2019. The Bank posted profit before tax (PBT) of Rs. 3,247 million and profit after tax (PAT) of Rs. 1,906 million…