Normally we do not cover international or local politics but this time – United States officials decided to interfere in private companies and it has been reported that they have been putting pressure on Pakistan Based Fatima Fertilizer, a subsidiary of Arif Habib Group, a multi-billion Rupees conglomerate. Forget the tussle between United States and [...]
National Bank of Pakistan, ranked as the country’s largest and top bank, with the claim of Pakistan’s first bank to break the Trillion Rupees deposit figure, made Rs 820 Crore in first half of 2012 – resulting in an increase of 1% from previous period, disappointing analysts’ expectations. According to analysts at AKD Research, it [...]
Burj Bank and MasterCard Launch Pakistan’s First Islamic Debit Card Pakistan. Burj Bank in association with MasterCard, a global payments and technology company, announced the launch of Pakistan’s first Islamic MasterCard debit card that is designed to benefit customers who prefer better control over their expenditure. An official signing ceremony, which was attended by Ahmed [...]
For the first time in history of Pakistan’s banking industry – Habib Bank launched its SmartBranch at Dolmen Mall, Karachi. The branch was inaugurated on Independence Day by Habib Bank recently appointed President Nauman K. Dar. Speaking at the occasion he explained the features of the new SmartBranch. “Its a hybrid. You can deposit and [...]
While one hand Pakistan is facing waves of corruption and poverty with businesses complaining about law and order and energy issues – Not everyone is feeling the same. Habib Bank Limited, a part of Aga Khan Foundation, has claimed to become the first bank to cross the 1 Trillion Rupees figure in deposits. Habib Bank [...]
The Board of Management of Pakistan State Oil (PSO) held a meeting to review the company’s performance for the year ended June 30, 2012. In the period under review, despite stiff challenges, the company has achieved a major milestone by becoming Pakistan’s first company with revenues exceeding the trillion rupees mark, says a press release. [...]
Pakistan State Oil, country’s largest oil marketing company, is slowly turning itself into a stubborn corporate bully. But what have they done now? According to market sources, Competition Commission of Pakistan has started after receiving multiple complains from PSO contractors, alleging that PSO is forcefully selling lube oil to them by deducting the price of such products [...]
The Securities and Exchange Commission of Pakistan(SECP) has registered 315 companies in the month of July, which is 9 per cent higher than the 288 companies registered in the corresponding period of previous year. The new incorporations during the month include 257 private, followed by 19 single-member, 4 public unlisted companies, 5 non-profit associations and [...]
Standard Chartered Pakistan arranged a one year $35 million Islamic Structured Trade Finance facility for the troubled Pakistan International Airlines (PIA). The Bank was the Sole Arranger and Structuring Bank for this transaction. The facility is structured as an offshore transaction under an Islamic mode which uses an innovative Services Ijara concept based on purchase [...]
The Board of Directors of MCB Bank Ltd, chaired by country’s richest Muhammad Mian Mansha, who’s recently eyeing Indian Banking market, has announced financial results for first six months and declared second interim cash dividend of Rs 4.0 in addition to first interim cash dividend of Rs 3.0 already paid. According to financial statements issued [...]
