Business
HBL becomes first Pakistani bank to get a branch license for Beijing, China
Karachi, January 01, 2020: HBL has become the first Pakistani bank to be awarded the much coveted branch license to offer financial services to clients in Beijing, China’s capital city. The branch license was awarded by China Banking and Insurance Regulatory Commission (CBIRC) in December 2019. The preparatory work of setting up the HBL Beijing…
Pakistan’s Amusement Industry on Rise, Inamullah Abdullah, COO, A.A Joyland
Karachi, December 31, 2019: The year 2019 has been a successful year for the amusement industry in Pakistan as it has seen a huge increase in footfall and development of multiple amusement activities. The industry with 20 billion rupees annual turnover employs hundreds and thousands of locals and it can play a vital role to…
Haleeb Foods holding statement on using ‘Brand of the Year” logo
Karachi, December 31, 2019: Haleeb Foods is a law-abiding enterprise, ensuring strict compliance to all applicable rules and regulations. Recently, an opportunist organization named – The Brand Foundation has falsely alleged Haleeb Foods for violating the licensing rights of using the ‘Brand of the Year’ logo. Since it is an unprecedented and fraudulent accusation, Haleeb Foods…
PSX index closed on a decline of 153pts
Karachi, December 31, 2019: Market traded in a narrow range throughout the session with index swinging +110 points to -199 points and closing the session at -87 points (unadjusted). Similar to yesterday, market maintained a slow pace with continued selling pressure in Banks and Oil chain. Cement sector also faced selling. Overall, the benchmark index…
Economic pressure weighed down Index
Karachi, December 31, 2019: KSE-100 index posted a return of 9.9 percent YoY during CY19 while USD-based return clocked-in at -1.4 percent. First positive return after two years of consecutive negative returns. Barring the last couple of months, CY19 was nothing short of a horror story for the equity market with a dominating bearish trend….