Business
Bank Alfalah profit before tax up by 14pc in first half
Karachi, August 19, 2019: The Board of Directors of Bank Alfalah Limited in its meeting held on August 18, 2019, in Abu Dhabi, approved the Bank’s unaudited interim financial statements for the half year ended June 30, 2019. The Bank’s first half 2019 pre-tax profits grew by 14 percent from a year ago, helped by…
Pakistan Stock Exchange gains 587 points
Karachi, August 20, 2019: The Pakistan Stock Exchange (PSX) opened on a positive note on Tuesdat with +86pts and went as high as 941 points during the session today. Major contributors to the index have been Banks and E&P Sectors. Index heavy weights, including ENGRO, HBL, UBL, MCB along with Auto sector scrips hit upper…
Pakistan automobiles sales down 4pc YoY during July 2019
Karachi, August 19, 2019: Pakistan auto sales have witnessed the significant decline of 29 percent YoY for July -19 which is mainly attributable to, continuous trend of hike in auto prices in the range of (9-40 percent) in last 12 months and FED implied in the budget for FY20 & increase in fuel cost. The…
Coal prices slump over drawdown in demand
Karachi, August 19, 2019: Imported coal prices in Pakistan track the South African Richard’s Bay Index which has displayed weakness recently. Prices have come down under USD 60/ton, (at USD 59.55/ton at present), by 45percent from a one year high of USD 109.05/ton (Jul’18). According to a research report, pertinently, waning demand from the largest export…
Bank Alfalah posts slow profitability growth
Karachi, August 19, 2019: Bank Alfalah Limited (BAFL) announced earnings on Monday for the first half of Current Year (1HCY19) below expectations at Rs 6.5 billion (EPS: PKR 3.63), depicting a YoY uptick of 4 percent. According to Arif Habib Research on a sequential basis (EPS: PKR 1.84) the bank posted a meagre 3 percent QoQ…