Pakistan
Wafi Energy becomes the majority shareholder of Shell Pakistan Limited
Karachi, October 31st, 2024: Wafi Energy Holding Limited (Wafi Energy) becomes the majority shareholder of Shell Pakistan Limited (SPL) after The Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), completes the sale of its 77.42% interest in SPL. Wafi Energy, an established Saudi company and affiliate of the Asyad Group, now holds approximately…
Hub Power Company Reports 1QFY25 Earnings: EPS Rises 12% YoY Amid Market Challenges
KARACHI, October 30 2024: Hub Power Company (HUBC) has released its financial results for the first quarter of FY25, showcasing earnings per share (EPS) of Rs14.74, which reflects a 12% increase year-on-year, although it represents a 7% decline compared to the previous quarter. The net earnings for the quarter stood at Rs19 billion, aligning with…
Mari Petroleum Company Limited Reports Steady Earnings in 1QFY25
KARACHI, October 30, 2024:Mari Petroleum Company Limited (MARI) has released its financial results for the first quarter of FY25, posting a profit of PKR 19.2 billion, translating to an earnings per share (EPS) of PKR 15.99. This marks a slight increase from the previous year’s EPS of PKR 15.94, showcasing stable profitability on a year-on-year…
Pakistan’s Path to Becoming a Global Leader in Hospitality Manpower Exports
KARACHI, October 30 2024: In an era where the hospitality industry is flourishing globally, Pakistan stands on the brink of a transformative opportunity. With the right training and strategic partnerships between the government and the private sector, the nation could significantly enhance its manpower exports to the hospitality sector, creating a new wave of remittances…
K-Electric and State Bank of Pakistan Collaborate to Enable Seamless Bill Payments via Raast
KARACHI, October 30, 2024: Accelerating the digitization of payments, the State Bank of Pakistan and K-Electric, the country’s sole private power utility, have made a significant advancement by signing agreements to initiate a Proof of Concept under Raast’s Payment Initiation Service Provider (PISP) model. This collaboration will assess the feasibility of incorporating K-Electric’s consumer and…