Browsing: Business

Easypaisa empowers Pakistani women with the “Audio Nikahnama” feature, allowing them to comprehend marriage documents through audio explanations in seven languages. The initiative, accessible via a missed call or the easypaisa app, includes sign language options, making it inclusive for those with hearing disabilities.

The Pakistani rupee secured its eighth straight gain against the US Dollar, closing at 279 after touching 278 briefly. Despite positive trends, concerns about political developments loom before the upcoming February election.

Ministry of Energy announces the first national Oil, Gas and Minerals Career Expo, ‘Fuelling Futures’, fostering industry-academia collaboration and offering students a unique platform to explore career opportunities in the energy and mining sector. Register at www.careerexpo2024.com to connect with leading companies and industry experts.

Fauji Fertilizer Company Limited (FFC) marked a robust financial performance, posting a 48% YoY surge in its annual profit after tax, reaching Rs. 29.67 billion. The company’s substantial contributions to national revenue and a declared cash dividend affirm its resilience in a challenging economic environment.

Lucky Cement Limited achieves a robust 92% YoY growth in unconsolidated net profit at Rs. 13.7 billion for 1HFY24, fueled by increased earnings from cement operations and strategic initiatives. The company anticipates a positive outlook for its cement sector and is set to enhance operational efficiencies with a new clinker line in Iraq, while the automobile sector faces challenges with a significant decline in volumes.

Lucky Core Industries Limited (LCI) reports a robust Q2 performance with a 104% YoY increase in profit after tax, reaching Rs. 2.5 billion, driven by higher gross margins and a substantial rise in other income. Despite challenges, including inflation and high tax incidence, LCI declares a cash dividend of Rs. 27 per share.

The Pakistani rupee, having maintained stability against the US Dollar, closed at 279.66, recording a minimal daily appreciation. Market sentiment was influenced by subdued domestic bond performance and anticipation of a potential reduction in the central bank’s benchmark policy rate.

Pak-China Huazi Green Energy introduces the ‘Cool Series’ of affordable mini electric vehicles in Pakistan, offering various range options and features like ABS, sports seats, and GPS navigation. With prices below Rs. 4 million, these EVs aim to contribute to the growing electric vehicle market in the country.

The Ministry of Finance plans to auction Rs. 100 billion sovereign Sukuk at the Pakistan Stock Exchange on January 23, 2023, with offerings spanning 1, 3, and 5 years. This move aligns with the government’s commitment to Shariah-compliant financing, as demonstrated by the successful oversubscription of a Rs. 30 billion Sukuk in December 2023.

Pakistan’s listed fertilizer companies are poised for a robust Q4 2023, with a projected 104% YoY profit surge to Rs. 25 billion, driven by increased retention prices. Fauji Fertilizer Company and Engro Fertilizers are expected to declare dividends, showcasing sector resilience amid shifting dynamics.