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Site update: January 22 2018, at 16:00 PKST
Stock update: January 19 2018.

Recent Financial News in the 'chemical' category

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Monday, January 22 2018

Dawood Hercules to inject Rs17.45b in Edotco Pakistan
KARACHI: The board of directors at Dawood Hercules has given its go-ahead to investing Rs17.45 billion in Malaysian firm, Edotco Pakistan, which recently acquired Jazz communication towers across the country, according to a notice sent to the stock exchange on Friday. “Dawood Hercules Corporation is in the process of injecting up to a cumulative amount of Rs17.45 billion in Edotco Pakistan in the form of equity and/or a short term loan,” company secretary Shafiq Ahmed said in the notification to the Pakistan Stock Exchange (PSX). Dawood Hercules’ share price increased 2% to RsRs120.02 with 84,400 shares changing hands on Friday.
Related news categories: business chemical company-news economic-indicators fertilizers misc psx stock-exchanges
Related symbols: dawh (news stock)

Tuesday, January 02 2018

Closure of mills due to gas suspension Crunch time for fertilizer unit workers
MIANWALI: The closure of Agri Tec Fertilizer in Iskandarabad due to gas suspension has brought small-time employees and daily-wagers associated with it and their families to the brink of starvation. The protesting workers took out a rally from the factory area to Mianwali-Bannu road and blocked traffic for a couple of hours a few days ago. The rally was also attended by a large number of people from different walks of life to show solidarity with the jobless. Factory General Manager Rehan Munir told Dawn that he had a meeting with the SNGPL managing director last week and tried his best to convince him to restore gas supply and offered to clear all arrears as soon as factory became functional. He said the MD had promised to present our problem in a meeting of SNGPL board of directors. But at the same time the MD repeated old offer to provide LNG (Liquified Natual Gas) at Rs 900 per MBTU against the Ogra rate of Rs 480 per MBTU.
Related news categories: business chemical economic-indicators fertilizers misc

Monday, January 01 2018

Closure of mills due to gas suspension Crunch time for fertilizer unit workers
MIANWALI: The closure of Agri Tec Fertilizer in Iskandarabad due to gas suspension has brought small-time employees and daily-wagers associated with it and their families to the brink of starvation. The protesting workers took out a rally from the factory area to Mianwali-Bannu road and blocked traffic for a couple of hours a few days ago. The rally was also attended by a large number of people from different walks of life to show solidarity with the jobless. Factory General Manager Rehan Munir told Dawn that he had a meeting with the SNGPL managing director last week and tried his best to convince him to restore gas supply and offered to clear all arrears as soon as factory became functional. He said the MD had promised to present our problem in a meeting of SNGPL board of directors. But at the same time the MD repeated old offer to provide LNG (Liquified Natual Gas) at Rs 900 per MBTU against the Ogra rate of Rs 480 per MBTU.
Related news categories: business chemical economic-indicators fertilizers misc

Friday, December 29 2017

Fertiliser sales down 20% year-on-year
KARACHI: Fertiliser sales in November 2017 stood at 1.26 million tons, down 20% year-on-year from 1.58 million tons in November 2016, according to data released by the National Fertilizer Development Centre (NFDC). However, sales improved by 37% compared to October 2017. Urea sales jumped 60% month-on-month (MoM) to 602,000 tons, with Di-Ammonium Phosphate (DAP) sales also registering a growth of 30% MoM to 502,000 tons in November 2017.
Related news categories: business chemical economic-indicators fertilizers misc

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