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PCRCL seeks govt’s help in revival of sick units
ISLAMABAD: Pakistan Corporate Restructuring Company Limited (PCRCL) chief executive officer Laqa Sarwar seeks government’s support for the revival of sick units. –HAMZA HABIB
CCP finds cartelisation in broiler chick hatcheries
ISLAMABAD: The Competition Commission of Pakistan (CCP) has found collusion and price fixation of day-old broiler chicks by a prima facie cartel of eight hatcheries from 2019 to June 2021. –HAMZA HABIB
Drekkar’s corporate status restored
KARACHI: Drekkar Kingsway Limited’s (DKL) corporate status stands restored to implement the revival business plan approved by the company’s shareholders in their annual general meeting held on October 22, 2021 –LATIFUR REHMAN
Avanceon unveils aggressive expansion plans
KARACHI: Avanceon Limited will expand its product portfolio for the oil and gas sector in the UAE and Africa, as the PSX-listed tech firm will reach $100 million-mark by 2024. –JAVED MIRZA
Palm Jumeirah, Business Bay among best areas to buy property in Dubai
KARACHI: As the Dubai real estate market staged a strong recovery this year, its prime areas remained in demand throughout the year because of their strategic locations, modern infrastructure and affordable rates, according to Zoom Property Insights.
SBP likely to raise key policy rate by another 150bps: analysts
KARACHI: The State Bank of Pakistan (SBP) is scheduled to announce the monetary policy on December 14, 2021, in which the central bank may further increase the policy rate by 100 basis points to 150 basis points, analysts said on Thursday. –SHAHNAWAZ AKHTER
Domestic rebar prices surge Rs2,000/tonne
KARACHI: The domestic rebar prices have increased Rs2,000/tonne on Wednesday night and are currently trading at Rs195,500/tonne to Rs197,500/tonne, taking the cumulative price increase during the ongoing quarter to around Rs18,000/tonne. –JAVED MIRZA
Rupee free-fall continues; dollar jumps to new high
KARACHI: No letup was witnessed in the rupee free-fall, as the dollar jumped to a new record high of Rs177.61 on Thursday in the interbank foreign exchange market, dealers said. –SHAHNAWAZ AKHTER
Bank Alfalah Islamic, Grand City sign MoU to promote housing finance
KARACHI: The Bank Alfalah Islamic, Pakistan’s premier financial institution providing Shariah-compliant consumer financing products, has joined hands with Grand City Kharian, a project of Eurobiz Corporation, to facilitate the customers in fulfilling their dream of buying their own house, a statement said. –JAVED MIRZA
Zong sets up digital lab at The Star School in Okara
KARACHI: Zong has partnered with The Star School in Okara’s Wasawewala locality to set up a digital lab in the school, a statement said. –LATIFUR REHMAN
Net metering connections to start in January 2022
LAHORE: The net metering connections will be initiated next month, a power utility official said. –IQTIDAR GILANI
Minister directs expediting industrial estates colonisation process
LAHORE: Minister for Industries and Commerce Mian Aslam Iqbal on Wednesday directed expediting the process of colonisation of industrial estates. IQTIDAR GILANI
Profit rates on saving schemes increase up to 240bps
KARACHI: The Central Directorate of National Savings (CDNS) on Thursday announced an increase in the profit rates up to 240 basis points (2.4 per cent) for various saving schemes. –SHAHNAWAZ AKHTER
Rupee loses 17 paisas to dollar at interbank opening
KARACHI: Pakistani rupee declined by 17 paisas against the dollar in early trade at the interbank foreign exchange market on Thursday. –LATIFUR REHMAN
KSE-100 opens bearish today
KARACHI: The Pakistan stocks opened on a bearish note as the KSE-100 index witnessed a decline of 153.15 points, or 0.35 per cent, in the first hour of trading on Thursday. –LATIFUR REHMAN
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