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Day: September 23, 2022

Falling economy makes it difficult to provide relief to masses

Business, English
Islamabad, September 23, 2022 (PPI-OT):The Pakistan Economy Watch (PEW) on Friday said it has become impossible to provide relief to the flood victims due to debt repayments, strict IMF conditions, rising inflation and a declining economy. Electricity and oil are getting expensive, and many imports are being stopped but the rupee is depreciating due to a lack of confidence in the market, it said. Despite grim economic conditions, the political fever is not giving the government time to plan for the rehabilitation of the flood victims and take the right economic decisions, said Dr. Murtaza Mughal, President of PEW. He said that foreign loans have exceeded one hundred and thirty billion dollars, while local loans are even more; the IMF loan stabilized the rupee for a few days in the month of...

Vantage wins three awards at the Global Forex Awards 2022

Press Release
SINGAPORE, Sept. 23, 2022 /PRNewswire/ — Vantage, the international multi-asset broker, has received three awards at the Global Forex Awards 2022 – Retail, organised by Holiston Media. Vantage was recognised in three categories including the “Best Forex Mobile Trading Platform/App – Global”, “Best Forex Trade Execution – Global”, and “Most Trusted Forex Broker – Asia”. The Global Forex Awards 2022 – Retail is in its fifth edition, and honours businesses that use cutting-edge technology, offer low-cost trading, comprehensive market research tools, advanced educational programs, and world-class customer service for retail traders. Marc Despallieres, Chief Strategy & Trading Officer at Vantage, says “We are honoured to receive t...

Board of directors meeting of Ali Asghar Textile Mills Limited

Board Meetings, Company News, English
Karachi, Ali Asghar Textile Mills Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on October 03, 2022 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2022. Further, the company has declared the closed period from September 27, 2022 to October 03, 2022. The Company was established in 1969 in the field of business, and are introduced as the manufacturers and exporters of cotton yarns from Pakistan. The company was originally designed for a 12,000 spindle operation, which then have been increased to a level of 14,400 spindle. Recent additions have been towards diversifying the product range to encompass doubled yarn and as result approximately 2000 tons of yarn are been doubled per an...

Board of directors meeting of Haji Mohammad Ismail Mills Limited

Board Meetings, Company News, English
Karachi, Haji Mohammad Ismail Mills Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on October 03, 2022 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2022. Further, the company has declared the closed period from September 27, 2022 to October 03, 2022. The company was incorporated as a private limited company on February 5, 1980 and subsequently converted into public limited company on October 15, 1987. The Principal Business of the company was manufacture and sale of yarn and Power Generation. Subsequently during the Year 2017 the management added new object clauses in the Memorandum of Association from Textile/ Power Generation to trading/ distribution of fast moving consumer g...

Board of directors meeting of Yousaf Weaving Mills Limited

Board Meetings, Company News, English
Karachi, Yousaf Weaving Mills Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on September 30, 2022 at Lahore. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2022. Further, the company has declared the closed period from September 23, 2022 to September 30, 2022. The Company was incorporated on January 17, 1988 as a public limited company. The Company is engaged in the business of textile weaving, spinning and sale of processed fabric, home textile and dairy products. The registered office of the Company is situated at 7/1, E-3, Main Boulevard Gulberg III, Lahore. The total numbers of shares 90,000,000. The Earnings per share is (0.84) in 2020 which was (0.83) in 2019. The Company had a loss o...

Board of directors meeting of Idrees Textile Mills Limited

Board Meetings, Company News, English
Karachi, Idrees Textile Mills Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on September 30, 2022 at Lahore. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2022. Further, the company has declared the closed period from September 23, 2022 to September 30, 2022. Idrees Textile Mills Limited was incorporated in Pakistan as an unquoted public limited company on June 5, 1990. The principal activity of the Company is to manufacture and sell yarn and fabric. The total numbers of shares of the Company are 19,852,800. The Earnings per shares of the Company is (5.17) in 2020 which was 1.63 in 2019. The Profit after taxation in 2020 was Rs. (102,582,000) which was 32,314,000 in 2019.