ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) has earned a net profit of Rs 4.972 billion with an earning per share of Rs 0.97. PTCL Wednesday announced its financial results for 9 months ended 31st March 2011, it continued its strategy of innovation and futuristic growth. By developing new sources of income, on the commercial side, […]
KARACHI: Former Chief Executive Officer (CEO) of AKD Securities Limited, Nadeem Naqvi has been appointed as Managing Director of the Karachi Stock Exchange (KSE) for a period of three years commencing from the date of his joining—and is expected to assume his responsibilities in the middle of the next month. Naqvi holds a degree of […]
ISLAMABAD: A progressive, business-friendly and people-friendly budget is essential for the socio-economic development of Pakistan, President Islamabad Chamber of Commerce & Industry (ICCI) Mahfooz Elahi made these remarks while meeting with member of business community. ICCI chief stressed that the upcoming budget should benefit the poor and ensure special concessions for the salaried person, senior […]
KARACHI: The State Bank of Pakistan (SBP) has decided to increase the Statutory Liquidity Requirement (SLR) for Islamic banks/Islamic banking branches by 5 percent with effect from June 03, 2011. At present, the SLR for Islamic banks/Islamic banking branches is 14 percent (excluding cash reserve requirement) of Total Demand Liabilities (including Time deposits with tenors […]
KARACHI: The State Bank of Pakistan (SBP) has also allowed the banks/Development Finance Institutions (DFIs) to extend loans for the cost of ancillary item(s) like CNG kits, vehicle tracking device i.e. Global Positioning System—commonly known as “Tracker” etc. while sanctioning auto loans for the ex-factory tax paid price fixed by the car manufacturers. However, the […]