Cement cos make big profits in 1Qtr
Cement companies reported a massive surge in their profits during the first quarter of financial year 20012-13.
Cumulative profitability of 14 cement companies gigantically up 298 per cent to Rs7.02 billion ($74 million) in the 1QCY13 compared with combined profits of Rs1.76 billion ($19.6 million) in 1QFY12.
SC freezes CNG price till Nov 19
The Supreme Court of Pakistan Thursday ordered for keeping the prices of CNG intact till next hearing on November, 19.
A 2-member SC bench led by Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry issued these orders during the course of hearing of petitions with respect to petroleum products prices here. more... (FD)
Banks’ combined profits jump 24% in 9 mths of 2012
The listed banks have posted combined net profit Rs 93.7 billion in nine months of calendar year 2012 as against profit of Rs 75.5 billion in the corresponding period of yesteryear, reflection a strong growth of 24 percent on yearly basis with non-interest income remaining the main earnings driver coupled with lower provisions. more... (DT)
$40m venture capital fund to spur growth
The United States is in the process of launching a venture capital fund to support new Pakistani companies under its Pakistan Private Investment Initiative (PPII) announced in September to spur job growth and economic development by expanding access of small to medium sized businesses to capital. more... (D)
SECP’s ranking improved by 5 points in WFD Index 2012
The World Economic Forum has improved the Securities and Exchange Commission of Pakistan (SECP)’s ranking by five points in the World Financial Development (WFD) Index of 2012.
Japan offers support to link Thar power with national grid
Japan has offered to support Thar coal power projects and construct transmission line to inter-link the project with national grid, said Japanese Ambassador to Pakistan Hiroshi Oe. He was speaking to the Federal Minister for Water and Power, Chaudhry Ahmed Mukhtar in a meeting on Thursday. more... (ET)