Byco Petroleum reported a gross profit of Rs. 11.2 billion but a net loss of Rs 2.67 billion, largely due to weak demand, high exchange rate, inventory losses, and an increase in finance costs. The company is experiencing tough market conditions as the spread of COVID-19 hurts demand but can withstand this period. Karachi, April…
Karachi, April 22, 2020: The Board of Directors of MCB Bank Limited (MCB) met under the Chairmanship of Mian Mohammad Mansha, on April 22, 2020 to review the performance of the Bank and approve the condensed interim financial statements for the first quarter ended March 31, 2020. The Bank has declared first interim cash dividend…
Karachi, September 24, 2019: Byco Petroleum Pakistan Ltd. gross turnover increased by 17 percent from the previous year to Rs. 251 billion following an increase in oil prices and Rupee’s devaluation. Pakistan’s economic growth slowed considerably to nine-year lows of 3.3% in the previous fiscal year. The oil sector witnessed a 22% decline in consumption….
The Federal Trade Commission announced a settlement with Facebook over the company’s 2018 Cambridge Analytica scandal. The fine represents the largest ever imposed by the FTC against a tech company. The FTC began probing Facebook in March 2018 following reports that political consulting firm Cambridge Analytica had improperly accessed the data of 87 million Facebook…