Browsing: Business

Mobilink Bank reports significant growth in Q3 2023, demonstrating its commitment to supporting MSMEs and delivering innovative solutions. As part of the VEON group, the bank contributes to digital inclusion and economic growth across multiple countries.

The FBR surpassed its revenue goal, collecting Rs2.75 trillion in July-October, but faces a challenge as millions of individuals and companies failed to file their annual tax returns. The FBR is now taking steps to register one million non-filers and send notices to those who paid withholding taxes but didn’t file their returns.

The government has increased profit rates for Regular Income Certificates, Savings Accounts, and Short Term Savings Certificates by up to 100 basis points, while rates for Special Savings Certificates, Behbood Savings Certificates, and Pensioners Benefit Account have been lowered. Defense Saving Certificates, however, remain unaffected.

Pakistan’s national elections are confirmed for February 11, 2024, as revealed by the Election Commission during a Supreme Court hearing addressing concerns about election delays. The date will be finalized after consultations with the president, following the completion of the delimitation process by November 30.

Foodpanda has been honored with three Dragons of Asia Awards, including the prestigious Black Dragon for its exceptional Pau-Pau launch campaign. This recognition, a first for any foodpanda entity in the Asia-Pacific region, highlights the company’s dedication to innovation and excellence in the food delivery and e-commerce sector.

In response to the Pakistani Rupee’s recent recovery against the US Dollar, the Oil and Gas Regulatory Authority (OGRA) has decreased the price of Liquefied Petroleum Gas (LPG) by Rs. 9.95 per kg for November. This translates to a 3.8 percent reduction in the cost of an 11.8 kg domestic LPG cylinder, benefiting consumers.

The Pakistan Stock Exchange (PSX) witnessed a surge in bullish sentiment, with the KSE-100 Index gaining 437 points and briefly breaking the 52,000 level for the first time in over six years. Improved corporate profitability and the government’s decision to raise gas tariffs, expected to boost the energy sector’s profitability, contributed to this positive market activity.

Kia Pakistan has lowered prices for the Sorento and Carnival models, thanks to a stronger Pakistani Rupee, making these vehicles more budget-friendly for customers until December 31, 2023. Additional cash-back offers on different models are also available until November 30, 2023.

MCB Islamic Bank’s remarkable 348% growth in Profit before Tax for Q3 2023, reaching PKR 7.506 billion, showcases its commitment to prudent financial practices and efficient deposit acquisition. The bank’s focus on value delivery is reflected in its 2.37% Return on Total Assets and significantly improved earnings per share after tax.

Fly Jinnah is set to expand its operations from domestic to international routes, offering flights to several countries after receiving cabinet approval. The airline, known for its punctuality, has conducted over 4,370 domestic flights in its first year and is now poised for international growth.