Thursday, December 8
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Day: August 12, 2022

Board Meeting other than Financial Result of Khurshid Spinning Mills Limited

Board Meetings, Company News, English
Karachi, Khurshid Spinning Mills Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 19, 2022 at Faisalabad to consider the business other than financial results. Further, the company has declared the closed period from August 12, 2022 to August 19, 2022. Khurshid Spinning Mills Limited is a public limited company incorporated in Pakistan. The principal objectives of the Company are to manufacture and deal in all types of yarn. Their head office is situated at Faisalabad, Punjab. The total numbers of shares of the company are 13,174,800 quoted on Stock Exchange of Pakistan. The Earning per shares of the Company is 1.36 in 2020 which was (1.10) in 2019. The Profit after Taxation of the Company is 17,897,000 in 2020 which was (14,455...

Board Meeting other than Financial Result of Hi-Tech Lubricants Limited

Board Meetings, Company News, English
Karachi, Hi-Tech Lubricants Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 19, 2022 at Lahore to consider the Annual Budgets and Plans for the fiscal year 2022-2023. Further, the company has declared the closed period from August 13, 2022 to August 19, 2022. Hi-Tech Lubricants Limited was incorporated in Pakistan on 1984. The Principal Activity of the Company is to procure and distribute petroleum products. During 2017, Oil and Gas Regulatory Authority (OGRA) has granted license to establish an Oil Marketing Company (OMC), subject to some conditions. On 31 May 2019, Oil and Gas Regulatory Authority (OGRA) has granted permission to the Company to operate new storage facility at Sahiwal and marketing of petroleum products in pro...

Regional Trade Deficit with 9 Countries Widened in FY22

Business, English
Karachi, August 12, 2022 (PPI-OT):Mr. Irfan Iqbal Sheikh, President FPCCI, has noted with profound concerns that Pakistan’s regional trade deficit has further widened as Pakistan’s imports from 9 regional countries have increased by 28.84 percent; whereas, exports to the same have increased only by 16.97 percent. President FPCCI explained that these nine countries include all geographically contiguous or countries in sub-regional periphery and these countries include China, Afghanistan, Iran, Bangladesh, Sri Lanka, India, Nepal, Bhutan and the Maldives. Mr. Irfan Iqbal Sheikh said that our imports with the regional countries clocked at $17.814 billion for the period of July 2021 to June 2022 as compared to $13.826 in FY21; which has put additional burden on rupee value and foreign exchange...

Board of Investment delegation assures KCCI’s representative inclusion in BoI Board

Business, English
Karachi, August 12, 2022 (PPI-OT):In response to suggestions given by President KCCI Muhammad Idrees, Additional Secretary / Executive Director General, Board of Investment (BoI), Khashih ur Rehman assured to incorporate representative of Karachi Chamber of Commerce and Industry (KCCI) in the BoI Board so that the Business and Industrial community of Karachi could play its role in BoI’s decision-making process and give valuable inputs in the larger interest of the country. Exchanging views at a meeting during the visit of BoI delegation to KCCI, Executive Director General BoI also agreed to issue directives on his return to Islamabad for setting up a helpdesk at KCCI so that all the queries being received from local as well as foreign investors about the overall investment climate and poli...

Local coal not being used for power generation: Mian Zahid Hussain

Business, English
Karachi, August 12, 2022 (PPI-OT):Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the economy of a country that spends equal to a quarter of its GDP on imports can never be stable. There is a need to widen the tax net and further reduce imports, otherwise, the country will not be able to run without borrowing. Mian Zahid Hussain said that Pakistan’s imports of goods and services in 2021-22 were ninety billion dollars which is almost equal to twenty-five percent of the GDP which is unsustainable and will result in a default sooner or later. Talking to the business community, the veteran business leader said that Pakistan’s ex...

Jingxi City Establishes a Cross-border E-commerce Experience Center to Create a New Model of Border Trade

Press Release
NANNING, China, Aug. 11, 2022 /Xinhua-AsiaNet/– Recently, Jingxi Cross-border E-commerce Experience Center & Jingxi E-commerce Public Service Center in Baise, Guangxi Zhuang Autonomous Region was inaugurated. This new model of cross-border e-commerce will help reduce the operation and management costs of cross-border trade enterprises, improve the facilitation level of cross-border trade, and also help Jingxi characteristic agricultural products “go global, expand its markets, and sold globally”. Caption: Customers are experiencing the “Online Purchasing” in Jingxi Cross-border E-commerce Experience Center. Deng Peibin, chairman of Guangxi Jingxi Ruitai Food Co., Ltd., said that the company mainly sold Jingxi’s big-fruit hawthorn and other characteri...