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JPMorgan buys First Republic Bank's assets
Karachi: JPMorgan Chase and Co (JPM.N), biggest US bank by assets said it will buy most of First Republic Bank's (FRC.N) assets after US regulators seized troubled bank. Collapse marks third major US lender to fail in less than two months, after week...
Rupee inches up, settles at 283.84 against dollar
Karachi: Rupee registered marginal increase against dollar, settling with an appreciation of 0.03 percent during trading session. According to State Bank of Pakistan (SBP), domestic unit closed at 283.84, an increase of 0.08 paisa. Rupee sustained lo...
KSE-100 inches upward on banks scrips
Karachi: Pakistan Stock Exchange (PSX) and KSE-100 Index rose 0.28 percent on back of alleviation of political tensions and encouraging financial results. Government and Pakistan Tehreek-e-Insaf began negotiations , raising expectations of resolution...
SBP releases $50m for govt Hajj scheme
KARACHI: State Bank of Pakistan (SBP) released first tranche of $ 50 million to Pakistani Hajj Mission in Saudi Arabia for government Hajj scheme 2023. As per sources within Ministry of religious affairs, government was asked to provide $ 213 million...
PSO’s earnings plunge 68pc in 3QFY23
Despite higher sales, profit-after-tax (PAT) of Pakistan State Oil Company Limited (PSO) plunged 68 percent, clocking in at Rs 12.54 billion for third quarter of fiscal year 2023 (January-March 2023), compared with PAT of Rs 39.28 billion reported in...
OGDC’s PAT jumps 50pc YoY in third quarter
Oil and Gas Development Company’s (OGDC) saw its profit jump by 50 percent to Rs 64.627 billion in third quarter of fiscal year that ended March 31, 2023, due to spike in oil prices and rupee depreciation. Company registered profit of Rs 43.16...
HBL’s Jan-Mar PBT rises to Rs21.5bn
Karachi: Habib Bank Limited (HBL) declared record quarterly earnings in January-March quarter with profit before tax (PBT) of Rs 21.5 billion, 47 percent higher than PBT of Rs 14.6 billion last year, stated press release. “This strong performan...
Uzbek President invites int’l investors at moot
Karachi: President of Republic of Uzbekistan Shavkat Mirziyoyev at Second Tashkent International Investment Forum said meetings with representatives of foreign governments, international financial institutions and heads of high-profile companies are...
Rupee falters, settles at 283.92 against dollar
Karachi: Rupee sustained loss against dollar, settling with depreciation of 0.19 percent during trading session. According to State Bank of Pakistan (SBP), domestic unit closed at 283.92, decrease of 0.53 paisa. It had appreciated during early hours...
KCCI seeks extension in last date of electricity bills payment
KARACHI: President Karachi Chamber of Commerce and Industry (KCCI) Muhammed Tariq Yousuf requested management of K-Electric to extend last date for payment of electricity bills in view of extended holidays observed on account of Eid-ul-Fitr. In commu...
