stock alerts
stock screener
search stocks using your criteria

Site News

Main features: company information, stock markets, stock filters, intraday charts, alerts, portfolio, customized searches (details)
Site update: May 26 2017, at 18:30 PKST
Stock update: May 26 2017.

Recent Financial News in the 'company-news' category

Login or sign up to search news items.


Friday, May 26 2017

LHC dismisses plea against Nishat Mills
PR LAHORE - Lahore High Court (LHC) Chief Justice Syed Mansoor Ali Shah has dismissed a malafide petition filed by Mian Shabir Asmail against Nishat Mills Ltd and others in the matter of the procurement of new uniforms for the Punjab Police. The chief justice also ordered the petitioner to deposit Rs10,000 as cost for the non-serious petition, which was filed without verification of facts and not supported with any evidence to establish that PPRA rules were violated in the award of tender to Nishat Mills Ltd for the supply of uniforms to the Punjab Police. In the final judgment, the chief justice stated, “Such petitions bring a bad name to public interest litigation and lower its credibility in the eyes of the court”. In his concluding remarks, the chief justice further stated, “Such a petition not only abuses the process of public interest litigation but also burdens the court and draws upon its time and resources, besides, eating into the time allocated for other cases.”
Related news categories: business company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: nml (news stock)

Thursday, May 25 2017

Railways signs fuel transportation pact with PSO
ISLAMABAD: Pakistan Railways and the Ministry of Petroleum signed a fuel transportation agreement under which the Pakistan State Oil (PSO) will transport at least 2 million tonnes of fuel every year based on the demand placed by the Ministry of Water and Power. The agreement was signed on Wednesday by PSO General Manager (Logistics) Syed Rashid Kamal and Pakistan Railways Additional General Manager (Traffic) Abdul Hameed Razi in the presence of Railways Minister Saad Rafiq. The agreement will increase fuel transportation activity of the railways. It will ensure transportation of fuel from Kaemari Terminal in Karachi to Muzzafargarh, Nishatabad, Piran Ghaib and Lalpir, from Pipri Marshaling Yard and Bin Qasim Port to Muzaffargarh, Nishatabad, Piran Ghaib, Lalpir and Akhundabad, from Mehmoodkot to Chakpirana, Sihala and Tarujabba and from Attock Refinery, Morgah or Rawalpindi to Lalpir.
Related news categories: business company-news economic-indicators ise kse lse misc oilgas-marketing psx stock-exchanges
Related symbols: pso (news stock)

Tuesday, May 23 2017

ICI acquires pharma facility, brands for Rs1.9bn
KARACHI: ICI Pakistan Ltd has executed an asset purchase agreement with Wyeth Pakistan Ltd and Pfizer Pakistan Ltd for the acquisition of certain assets at the aggregate purchase price of Rs1.91 billion. ICI stated in a stock notice on Monday that the agreement was signed on May 19 under which the company will acquire a Wyeth-owned pharmaceutical manufacturing facility located on Hawkesbay Road in Karachi along with the following pharmaceutical brands: Entox-P, Lederplex, Lederiff, Mucaine, Nilstat, Tri-Hemic and Wymox. Two other products with registrations of Pfizer in the acquisition deal are Citralka and Combatrin. ICI, which is part of the Yunus Brothers Group, stated that the transaction is subject to requisite regulatory approvals. “The acquisition of these assets holds great value for us. We expect to substantially strengthen our manufacturing capability and diversify our product portfolio, ultimately offering the medical community and patients a wider range of quality pharmaceuticals and treatment options to improve lives,” ICI CEO Asif Jomma said in a statement.
Related news categories: business chemical company-news economic-indicators ise kse lse misc pharma psx stock-exchanges
Related symbols: ici (news stock)

ICI Pakistan signs agreements acquisition of certain assets of Wyeth Pakistan
KARACHI: ICI Pakistan Limited has announced that on Monday the Company executed Asset Purchase Agreements with Wyeth Pakistan Limited and Pfizer Pakistan Limited, for the acquisition of certain assets at the aggregate purchase price of Rs. 1.91 billion. A statement here said that the assets being acquired by ICI Pakistan Limited through this transaction include a Wyeth Pakistan Limited-owned pharmaceutical manufacturing facility located on Hawkes Bay Road, SITE, in Karachi, along with products and registrations including the following popular and well-established pharmaceutical brands: Entox-P, Lederplex, Lederrif, Mucaine, Nilstat, TriHEMIC and Wymox. In addition, two products and registrations of Pfizer Pakistan Limited are also included in the acquisition, namely: Citralka and Combantrin, the statement added. It said that the transaction is now set to move ahead, subject to requisite regulatory approvals. Chief Executive ICI Pakistan Limited, Asif Jooma, commented that the acquisition of these assets holds great value for us as a Company. Through it, we expect to substantially strengthen our manufacturing capability and diversify our product portfolio, ultimately offering the medical community and patients a wider range of quality pharmaceuticals and treatment options to improve lives.
Related news categories: business chemical company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: ici (news stock)

PSO signs contract with LWMC
(PSO) and the Lahore Waste Management Company (LWMC) have signed a contract for LWMC to procure petroleum products via PSO's state of the art chip based fuel cards, for LWMC's official vehicles. The agreement was executed between PSO and LWMC in the presence of senior management from both companies, a PSO statement issued here on Monday said. It pointed out that the agreement will result in lower processing time, easy verification and online alerts. Routing and re-routing will be made easier. This system will bring in more efficiency and transparency.
Related news categories: business company-news economic-indicators ise kse lse misc oilgas-marketing psx stock-exchanges
Related symbols: pso (news stock)

pkfinance.info helpline: +92-42-3631-4186 (10:30am to 5:30pm)