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Site update: November 21 2017, at 17:15 PKST
Stock update: November 21 2017.

Recent Financial News in the 'company-news' category

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Tuesday, November 21 2017

Amreli Steels announces joint venture with Chinese company
KARACHI: Amreli Steels Limited, one of the largest re-bar makers in the country, has announced to invest Rs1.04 billon in an electrical transmission business through a joint venture with a Chinese company. The company’s board of directors approved the joint venture with Qingdao Huijintong Power Equipment Company Limited, according to a notice sent to the Pakistan Stock Exchange (PSX) on Monday. The Chinese company is listed at the Shanghai Stock Exchange and is principally engaged in research, design, manufacture and distribution of transmission line towers within and outside China.
Related news categories: business company-news economic-indicators engineering ise kse lse misc psx stock-exchanges
Related symbols: astl (news stock)

Monday, November 20 2017

Pipelines for gasification of 137 villages
ISLAMABAD - Sui Southern Gas Company Limited (SSGCL) will lay 567-kilometer pipelines for supplying gas to 137 villages of Sindh and Balochistan provinces at a cost of over two billion rupees this year. According to Radio Pakistan, under the PM's Global Sustainable Development Goals Programme, the SSGCL is working to provide natural gas facility to 119 villages in Sindh and 18 villages in Balochistan. All these projects are being executed on recommendations of parliamentarians and notables of the areas for provision of gas.
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: ssgc (news stock)

Friday, November 17 2017

Bank Alfalah partners with Yayvo.com for online purchases
KARACHI: Bank Alfalah and Yayvo.com signed an MoU, allowing Bank Alfalah customers to conveniently purchase items from one of Pakistan’s biggest e-commerce stores, further enhancing the scope of e-commerce and digital payments in the country. Yayvo.com will integrate Bank Alfalah’s payment gateway and power Bank Alfalah’s Orbit Mall for the bank’s loyalty customers, account and card holders. Under this agreement, Bank Alfalah customers will also be able to redeem Orbit reward points and also use Bank Alfalah accounts and credit cards on the revamped Orbit Mall.
Related news categories: business comm-banks company-news economic-indicators ise kse lse misc psx stock-exchanges tech-comm
Related symbols: bafl (news stock)

Petrol war continues as PAMA joins fray
KARACHI: A rift among car assemblers has emerged as Pakistan Automotive Manufa­cturers Association (PAMA) has claimed that “all the OEMs are facing serious technical issues due to low quality of fuel.” So far only Honda Atlas Cars Ltd (HACL) has formally lodged a complaint with the Oil and Gas Regulatory Authority (Ogra) about the low quality petrol. In a letter on Nov 13, PAMA has asked the regulator to check the metal contents (including manganese) in the petrol being marketed against the international standards as assemblers are facing serious technical issues due to low quality of the fuel. On the issue of manganese content in petrol, PAMA informed the regulator that addition of manganese is meant to boost the Research Octane Number (RON) of the fuel in the process of achieving a targeted number.
Related news categories: auto-assembler business company-news economic-indicators ise kse lse misc oilgas-marketing psx stock-exchanges
Related symbols: hcar (news stock)

SNGPL announces to increase supply for Lahore in winter
LAHORE - The Sui Northern Gas Pipe Line (SNGPL) has announced to increase gas supply to Lahore region to 190 mmcfd (million cubic feet per day) from earlier supply of 160 mmcfd to fulfill the growing demand of consumers in winter season. Addressing a press conference, SNGPL Lahore Region General Manager Qaisar Masood said that in view of increasing demand of the area 30 mmcfd gas has been added in the system. He said that low gas pressure complaints are less in this season as the situation has improved as compared to the last winter due to addition of RLNG in the system. He said, “Domestic consumers are our top priority and the supply may be disconnected to the CNG stations in the province for smooth supply of gas to the domestic consumers.” Qaisar said that the SNGPL is also working to lay new gas pipelines in the areas where is low gas pressure due to tail end. “In this connection we are spending around Rs160 million to replace old lines, connecting them with mainlines,” he added.
Related news categories: business company-news economic-indicators misc oilgas-exploration oilgas-marketing psx stock-exchanges
Related symbols: sngp (news stock)

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