Day: October 5, 2020

Indus Motor Company Tops Asiamoney’s Most Outstanding Company in Pakistan for the Third Successive Year

Karachi, October 05, 2020 (PPI-OT): Indus Motor Company (IMC) has been honoured once again as the Most Outstanding Company in Pakistan in the category of Automobile and Components during the year 2020 for the third successive year by Asiamoney, a leading business publication. Asiamoney, a specialized business publication with the Euromoney Group, traditionally holds a competition among Asian institutions. The award eRead More…

Emirates expands its network in Europe to 31 destinations with restart of flights to Budapest, Bologna, Lyon, Dusseldorf and Hamburg

Karachi, October 05, 2020 (PPI-OT): Emirates has announced it will resume flights to Budapest (from 21 October), Bologna (1st November), Dusseldorf (1st November), Hamburg (1st November) and Lyon (4th November), expanding its European network to 31 destinations, and offering customers around the world convenient connections via Dubai.
The addition of these five destinations takes Emirates’ global network to 99 destRead More…

Shariq Vohra responds to anti-state audio clip, dissociates KCCI from false claims

Karachi, October 05, 2020 (PPI-OT): President Karachi Chamber of Commerce and Industry (KCCI) M. Shariq Vohra Monday expressed deep concerns over an audio clip circulating in the social media in which an attempt has been made by a particular individual with an only intention to sabotage the reputation of business and industrial community Karachi and trigger rift between institutions and politicians.
While totally rejRead More…

UK financing the Production of Breathing Devices in Pakistan through Karandaaz partnership with Meezan Bank

Karachi, October 05, 2020 (PPI-OT): United Kingdom through Karandaaz’s Risk Participation Facility with Meezan Bank, Pakistan’s first and largest Islamic bank is financing the development and production of a High Flow Nasal Oxygen (HFNO) device, which can also be used as a Continuous Positive Airway Pressure (CPAP) device, by Alsons Group, Pakistan’s premier precision engineering company. Karandaaz, funded by URead More…

Government must ensure availability of natural gas

Lahore, October 05, 2020 (PPI-OT): Gas is crucial for the major export industries to function and produce, therefore the government must ensure the availability of gas in this coming winter primarily for the pulp and paper, metals, chemicals, petroleum refining, stone, clay and glass, plastic, and food processing industries etc. because these industries account for over 80 percent of all industrial natural gas use.
IRead More…

PACRA Maintains Entity Ratings of Macpac Films Limited

Lahore, October 05, 2020 (PPI-OT): Macpac operates within the Biaxially Oriented Polypropylene (BOPP) and Cast Polypropylene (CPP) segments of the industry. Both are petrochemical of which price is linked to oil and gas prices, which causes volatility. Its raw material polypropylene (PP) is not manufactured in Pakistan and its demand is met almost entirely by imports. So the key input is dependent on regional supply Read More…

VIS Reaffirms Fund Stability Rating of Faysal Islamic Savings Growth Fund

Karachi, October 05, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed the Fund Stability Rating (FSR) of Faysal Islamic Savings Growth Fund (FISGF) at ‘A+(f)’ (Single A Plus (f)). Previous rating action was announced on May 13, 2019.
The rating incorporates policy guidelines and actual investment allocation portfolio. On average basis, almost half of net assets are held as cash and bank balanRead More…

VIS Assigns Preliminary Rating to the Instrument of Mughal Iron and Steel Industries Limited

Karachi, October 05, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has assigned the preliminary rating of ‘A+’ (Single A Plus) to the proposed Sukuk issue of Mughal Iron and Steel Industries Limited (MISIL). The medium to long-term rating of ‘A+’ denotes good credit quality coupled with adequate protection factors. Moreover, risk factors may vary with possible changes in the economy. MISIL also has aRead More…

VIS Reaffirms AAA Ratings of Pakistan Telecommunication Company Limited

Karachi, October 05, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed entity ratings of Pakistan Telecommunication Company Limited (PTCL) at ‘AAA/A-1+’ (Triple A/A-One Plus). The medium to long-term rating of ‘AAA’ denotes highest credit quality, with negligible risk factors, being only slightly more than for risk-free debt of Government of Pakistan. The short-term rating of ‘A-1+’ deRead More…

Infinix Zero 8 – A highly anticipated phone for All the Tech Geeks!

Islamabad, October 05, 2020 (PPI-OT): This year has been an amazing one for all the tech geeks – because Infinix has been launching back to back new devices. With the pace of new technological innovations moving so fast, there is always something new waiting in the wings for the tech geeks to get excited about. No sooner than we heard rumours of Infinix bringing a new upgrade on their already famous Zero seriesRead More…