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Site update: July 22 2019, at 17:00 PKST
Stock update: July 22 2019.

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Friday, July 19 2019

PIA set to kick off direct flights to US
KARACHI: Amid a marked improvement in the relationship between Pakistan and the US, ahead of Prime Minister Imran Khan’s visit to Washington next week, Islamabad has geared up to take direct flights to New York for the first time in the country’s history. “US security officials visited the Islamabad airport and expressed concern over direct flights to the US, which has been addressed,” revealed Federal Minister for Aviation Ghulam Sarwar Khan at a press conference at the SQMS Auditorium, Pakistan Civil Aviation Authority (PCAA) headquarters on Thursday. “Flights are expected to begin after the upcoming prime minister’s visit to the US,” he said.
Related news categories: business company-news economic-indicators ise kse lse misc psx stock-exchanges transport
Related symbols: piaa (news stock)

Thursday, July 18 2019

Pak Suzuki has no plans to cut production
KARACHI: As two leading Japanese vehicle assemblers are in quandary, Pak Suzuki Motor Company (PSMC) has taken its parts suppliers into confidence by assuring them that it will neither cut production nor resort to plant shutdown in weekdays in July-December. In a suppliers’ coordination meeting held at a local hotel on Wednesday, the management of PSMC shared their production plans for July-December. Some vendors who attended the meeting said the company would produce over 76,000 units in the second half of current year, compared to 60,000 unites rolled out in the first.
Related news categories: auto-assembler business company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: psmc (news stock)

PTCL Group profits jump 10pc
ISLAMABAD: Pakistan Telecommunication Company Group’s revenue for the half year ended June 30 grew by nine percent to Rs66.3 billion bolstered by Ufone and Ubank operations. The group’s operating and net profit for the period jumped by 20pc and 10pc respectively, said PTCL Chief Executive Officer Rashid Khan in a press conference on Wednesday. On the other hand, PTCL’s six-month net profit marginally rose by 3pc to Rs3.8bn compared to Rs3.7bn. However, operating profits fell on the back of rising power tariffs and currency devaluation. The company officials at the press conference said revenues at the company’s flagship Fixed Broadband services grew by 5pc.
Related news categories: business company-news economic-indicators ise kse lse misc psx stock-exchanges tech-comm
Related symbols: ptc (news stock)

Tuesday, July 16 2019

JS Bank establishes itself as leading financial sector institution
KARACHI (PR) Striving for growth and innovation since its inception on December 30, 2006, JS Bank has established itself as a leading financial sector institution within Pakistan. In the past year alone, the Bank has been one of the leading mutual fund distributors in the banking sector, the 2nd largest bank for Prime Minister Youth Business Loans, and the 3rd largest bank in SME lending. JS Bank also ranks in the top three mortgage providers in Pakistan and is a leading provider of instant loans under the JS Gold Finance product. The Bank recently won the prestigious Asiamoney Award for ‘Best Bank for SMEs’, as well as the award for Best Environmental and Social Governance Bank at the Pakistan Banking Awards. “The successful listing of our first TFC in a very short period of time is indicative of the industry’s confidence in JS Bank’s potential and future outlook.” said Basir Shamsie, President and CEO, JS Bank . “By issuing this instrument, we will be able to continue our successful journey as one of the fastest growing banks in Pakistan.
Related news categories: business comm-banks company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: jsbl (news stock)

Engro Fertilizers receives two awards
KARACHI (PR) Engro Fertilizers Limited has received two awards for Best Environmental Performance and Tree Plantation. Every year, the National Forum for Environment and Health (NFEH) acknowledges the accomplishments of top companies shortlisted on their performance against a comprehensive criterion. Mumtaz Ali Shah, Chief Secretary Sindh, was the guest of honor for this awards ceremony. Being the only company in Pakistan aligned with DuPont Environmental Standards, and additionally fully compliant with the Environmental Protection Agency (EPA) of Pakistan, Engro Fertilizers remains the torchbearer in combating climate change through major environmental improvement projects like Carbon & Water Footprint Reduction and Energy Optimization projects, as well as its One Million Tree Plantation initiative.
Related news categories: business chemical company-news economic-indicators fertilizers misc psx stock-exchanges
Related symbols: efert (news stock) helpline: +92-42-3631-4186 (10:30am to 5:30pm)