Browsing: Business

Pure Health, the Middle East’s largest healthcare platform, has raised an impressive $986 million in an oversubscribed IPO on the Abu Dhabi Securities Exchange, reflecting strong investor confidence. With a fixed price of AED 3.26 per share, the offering’s success is set to propel Pure Health’s market capitalization to AED 36.2 billion, with the founders retaining a substantial 90 percent stake.

The Pakistani Rupee strengthened against the US Dollar for a second day, closing at 283.61, while the State Bank of Pakistan opted to keep the policy rate unchanged at 22%.

Qist Bazaar celebrates a milestone with 2 billion in sales, reflecting accelerated growth in 8 months and a significant impact on Pakistani lives through accessible essential products and ethical business practices. CEO Arif Lakhani emphasizes the platform’s joy in serving the unique needs of the average Pakistani.

As international petrol prices decrease by $5.49 per barrel, Pakistan’s caretaker government is expected to bring relief to the public with a potential Rs13 per litre reduction in petrol prices. If implemented, the new rates would be Rs268.34 per litre for petrol and Rs274.79 per litre for diesel.

HBL was honored as the “Leading Remittance Mobilizing Bank of Pakistan” at the 3rd Pakistan Remittance Summit for channeling over $2 billion in FY2023. Khaqan Mohammed Khan highlighted HBL’s dedication to providing secure and affordable remittance services to support the Pakistani economy.

Mari Petroleum (PSX: MARI) has entered the billion-dollar club on the Pakistan Stock Exchange, reflecting the dynamic growth in the country’s stock market. This achievement comes as part of a significant expansion, with the number of companies exceeding $1 billion market value increasing from two to seven in just five months.

In November 2023, Roshan Digital Accounts recorded foreign exchange inflows of $7.035 billion, with $1.531 billion repatriated and $4.322 billion utilized locally, reflecting the program’s substantial impact. The total number of accounts opened surpassed 640,000, indicating continued growth and trust in the initiative.

Pakistan anticipates a substantial decrease in fuel prices on December 15, with projections hinting at a Rs. 15/liter drop for High-Speed Diesel and Rs. 13/liter for MS Petrol, influenced by a favorable trend in global fuel prices. If international stability persists, local petrol and diesel rates may reach around Rs. 268-269/liter and Rs. 274-275/liter, respectively.

Easypaisa and Telenor Pakistan have joined forces to elevate digital financial services in Pakistan, focusing on cutting-edge solutions for widespread adoption. This strategic alliance, marked by a commitment to technological empowerment, aims to reshape the country’s digital payments landscape, fostering innovation and financial inclusion for a digitally empowered society.

Mari Petroleum has triumphed in testing its third horizontal well in the Mari Gas Field, producing 17 MMSCFD. The project aims to enhance production sustainability and reserve recovery, with plans for further wells underway.