Business
KE issues high alert as rain water entered into main grid
Karachi, July 30, 2019: Karachi Electric on Tuesday night issued a high alert as rain water was entered into its one of the main grid station, which supplying power to almost 50 percent of the city. According to KE spokesman Khayyam Siddique, overflow of Lath Dam creates critical situation at KE’ 220Kv KDA Grid. He…
Stock closes lower
Karachi, July 30, 2019: Pakistan Stock Exchange was remained negative on Tuesday due to selling pressure. Market traded mostly in negative zone with a total loss of 248 points, which narrowed by the end of session close to -76 points and closing at 31,658 points. E&P, Refinery with the exception of O&GMCs contributed to selling…
Huawei Announces 1H 2019 revenue: 23.2pc YoY growth
Karachi, July 30, 2019: Huawei announced its business results for the first half of 2019: USD 58.34 billion in revenue, a 23.2 percent increase over the same period last year. The company’s net profit margin for H1 2019 was 8.7 percent. According to Huawei’s Chairman, Liang Hua, operations are smooth and the organization is as sound as…
Cost of power generation increases
Karachi, July 30, 2019: Cost of power generation also increased on a full-year basis during the last fiscal year. According to the latest data, during FY19, the average cost was Rs5.36/KWh, 4.7 percent higher than FY18. This increase in average cost can be traced back to the energy mix where the costs of nearly all…
State Bank reiterates not to share personal information on fake calls
Karachi, July 29, 2019: It has come to our knowledge that fraudsters are attempting to defraud the banking customers by seeking bank account details on the pretext of biometric verification. In many cases, this is being done through fake calls by masking the official helpline or registered numbers of banks. The receivers apparently believe that…