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

Recent Financial News in the 'company-news' 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)

Friday, January 19 2018

Court sets aside EPA’s order halting MLCF’s expansion
KARACHI: The Lahore High Court (LHC) has set aside the Environmental Protection Agency’s (EPA) order in which it halted construction work at Maple Leaf Cement Factory’s new cement line, according to a company notice sent to the Pakistan Stock Exchange (PSX) on Thursday. According to the notice, the court has approved Maple Leaf’s Environment Impact Assessment (EIA) for its 2.2-million-ton-per-annum Brownfield cement line. However, the company has been ordered to wait until the issuance of a survey report (criteria for the delineation of negative and positive areas for the installation of new or enhanced existing cement plant), carried out by Mines & Minerals Department, Punjab.
Related news categories: business cement company-news economic-indicators misc psx stock-exchanges
Related symbols: mlcf (news stock)

PSO’s newly introduced tank lorries inaugurated
ISLAMABAD (PR): Member Oil, Oil & Gas Regulatory Authority (OGRA), Dr Abdullah Malik inaugurated PSO’s newly introduced tank lorries in an opening ceremony held in Islamabad. MD & CEO PSO Sheikh Imranul Haque and other senior officials from the company were also present on this occasion. As part of the opening ceremony, Dr Abdullah Malik was briefed by the PSO senior management about regulatory compliance features of the PSO modern fleet. While updating the chief guest of the ceremony about compliant standards and safety features, MD PSO , Sheikh Imranul Haque said: “The PSO branded tank lorries launched and inducted in our fleet today have a capacity of approximately 20,000 liters each and will be used to transport Jet A-1 fuel and other white oil products from PSO depots to consumer outlets. These lorries have an integrated tank on rigid frame with 3 axles and safety accessories including pneumatically operated foot-valves designed to minimize the possibility of leakages. Main tank hole covers are on UNADR standards to maintain pressure in the fuel chambers while special baffle plates within chamber walls safeguard the partition. The TLs have an engine capacity that fully complies OGRA guidelines whereas the outer side also properly highlights safety signs and petroleum product codes.”
Related news categories: business company-news economic-indicators misc oilgas-marketing psx stock-exchanges
Related symbols: pso (news stock)

Tuesday, January 02 2018

Rupee devaluation: Suzuki Motor raises vehicles prices
LAHORE - The Suzuki Motor Company has raised the prices of some of its variants, effective from the January 1, 2018, by Rs10,000 to Rs20,000. According to the company, the prices of Bolan and Ravi have been increased by Rs10,000, Mehran VX and VXR by Rs10,000 (CNG variants prices unchanged), while prices of Wagon-R VXR and VXL have been hiked by Rs20,000. The move was widely anticipated due to the recent Pak rupee devaluation against the US$, which would push up costs of raw materials for auto assemblers. To recall, one of the PSMC's competitors, Indus Motor Company (INDU) had recently increased prices of some of its Corolla variants in response to the Pak Rupee devaluation . Indus Motor Company had increased prices of 1,300-1,600cc cars by Rs50,000-60,000 in Dec. The new price of Toyota Corolla XLi, and GLi is Rs1.81 million and Rs1.94m compared to Rs1.75m and Rs1.88m respectively. The new price of 1.6 Altis has been jacked up to Rs2.19m from Rs2.14m.
Related news categories: auto-assembler business company-news economic-indicators ise kse lse misc psx stock-exchanges
Related symbols: psmc (news stock)

Monday, January 01 2018

PM chairs meeting to review PIA’s business plan
SLAMABAD: Prime Minister Shahid Khaqan Abbasi Saturday chaired a meeting to review the proposed business plan of the Pakistan International Airlines and issues related to the aviation sector. He reviewed the issues regarding the efficient operations and revised business plan of the Pakistan International Airlines Corporation Limited, a PM Office statement said.
Related news categories: business company-news economic-indicators ise kse lse misc psx stock-exchanges transport
Related symbols: piaa (news stock) helpline: +92-42-3631-4186 (10:30am to 5:30pm)