BOL NEWS BUSINESS DIGEST: November 26, 2021

Web Desk BOL News

26th Nov, 2021. 09:43 am
BOL NEWS BUSINESS

BOL NEWS BUSINESS DIGEST. Image: Unsplash

Abad halts work on all construction projects

KARACHI: The Association of Builders and Developers (Abad) on Thursday announced to halt construction work on all projects from Friday, November 26, 2021, to protest against the null and void declaration of all the projects, despite approval by the government agencies. –SHAHNAWAZ AKHTER

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The not so curious case of TRG Pakistan

KARACHI: Leverage is a trap and TRG Pakistan is the bait. Scrip has declined around 32 per cent since November 17, when the sexual harassment charges against the CEO of Afiniti, one of TRG’s subsidiaries, first appeared. –JAVED MIRZA

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Bears in control at PSX as KSE-100 Index shed 427.95 points

KARACHI: The Pakistan stocks continued negative trend for the fourth consecutive session on Thursday, as the investors were concerned over continued foreign selling over the MSCI reclassification due next week, dealers said. –JAVED MIRZA

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Rupee recovers six paisas against dollar

KARACHI: The rupee recovered six paisas against the dollar on Thursday, amid mounting demand for external payments, dealers said. –SHAHNAWAZ AKHTER

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Pakistan’s forex reserves fall $776 million to $22.774 billion

KARACHI: Pakistan’s liquid foreign exchange reserves have declined $776 million to $22.774 billion by the week ended November 19, 2021, the central bank reported on Thursday. –SHAHNAWAZ AKHTER

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Tarin assures govt support for promotion of mutual fund industry

ISLAMABAD: The Mutual Funds Association of Pakistan (Mufap) is working to promote and increase savings in the country with a diversified product range, suiting all categories of investors, an official said. –HAMZA HABIB

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Engro Foundation to implement forest restoration programme

KARACHI: Engro Foundation signed a letter of understanding with the Ministry of Climate Change and World Wildlife Fund (WWF) to develop a forest restoration and carbon offset programme, a statement said on Thursday. –LATIFUR REHMAN

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Digital mode of payment to be applicable from December 1

KARACHI: The digital mode for payment by corporate entities will be applicable from next week, i.e., December 1, 2021, after an extension of one month granted by the Federal Board of Revenue (FBR), official sources said on Thursday. –SHAHNAWAZ AKHTER

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PSX revises dealing timings of market

KARACHI: The Pakistan Stock Exchange (PSX) announced temporary changes in the duration for closing price determination and market timings, bourse filing said on Thursday. –LATIFUR REHMAN

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New arrivals ease sugar prices in market

ISLAMABAD: Prices of sugar witnessed a decline after arrival of new stock, while the prices of flour remained stable because of the government’s proactive measures. – HAMZA HABIB

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FPCCI suggests interprovincial sugar trade

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has suggested interprovincial trade of sugar and sugarcane to avoid shortage of the commodity in the country. –SHAHNAWAZ AKHTER

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Long queues seen as few fuel stations remain open amid strike call

KARACHI: Long queues were seen at a few fuel stations that remained open, despite a strike call by the Pakistan Petroleum Dealers Association (PPDA) on Thursday. – SHAHNAWAZ AKHTER

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Kati concerned over petroleum dealers’ strike call

KARACHI: The Korangi Association of Trade and Industry (Kati) has expressed concern over the strike call by a petroleum dealer, a statement said. –SHAHNAWAZ AKHTER

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PITB signs agreements with HRMIS, Board of Investment

LAHORE: The Punjab Information Technology Board (PITB) has signed two separate agreements with the National Highways and Motorway Police (NHMP) and Board of Investment (BoI) to implement Human Resource Management Information System (HRMIS), an IT-based solution, for the two government departments, a statement said. – IQTIDAR GILANI

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CBD Punjab forms partnership with Jazz

KARACHI: Jazz, Pakistan’s number one 4G operator and the largest internet and broadband service provider is being brought onboard by the Lahore Central Business District Development Authority (LCBDDA) to build a smart city ecosystem, a statement said. ‑DESK

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PSX revises dealing timings of market

KARACHI: The Pakistan Stock Exchange (PSX) announced temporary changes in the duration for closing price determination and market timings, bourse filing said on Thursday. – LATIFUR REHMAN

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Modaraba firm to merge with Pak-Brunei Investment Company

KARACHI: The board of directors of Awwal Modaraba Management Company has approved the merger with a subsidiary of Pak-Brunei Investment Company Limited (PBICL), a bourse filing said on Thursday. – LATIFUR REHMAN

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Veon Group vows to support Digital Pakistan vision

LAHORE: Kaan Terzioğlu, chief executive officer of VEON Group called on Prime Minister Imran Khan and reiterated the group’s full support towards the government’s #DigitalPakistan agenda, a statement said. –IQTIDAR GILANI

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