General Business News

Islamabad, July 12, 2019 (PPI-OT): It seems that the Huawei fever is continuing well beyond the pre-order phase of Huawei Y9 Prime 2019. After roping in 300% more pre-orders than its predecessor, sales of the midrange killer have swelled up manifolds. In the first two hours since the phone went on sale, people purchased PKR 75,000,000/- worth of Y9 Prime 2019 from Huawei outlets nationwide. While the pre-orders and first sales for Huawei Y9 Prime 2019 hit a new high, it also reveals how much the smartphone has won people over with its specifications for a competitive price. The consumer response has been overwhelmingly positive and Huawei couldn’t be more pleased. Speaking on this occasion, Mr. Scott Huang, Country Manager, Huawei Pakistan said: With the launch of Huawei Y9 Prime...

Lahore, July 12, 2019 (PPI-OT): The rating reflect the strength of the security structure of the sukuk. This entails in-built advance cushion against the upcoming repayments. The rating reflect strong positioning of Pharmagen Limited in its respective market. The pharmaceutical industry has witnessed a high rate of sustained growth over the years. Cost-efficiencies as well as demand in-elasticity are benefiting the industry players. The new CPI-linked pricing criteria has allowed an increase in prices with respect to inflation, indicating a positive sign. The company imports majority of its raw material, where currency fluctuation and pricing risk could affect margins, however majority of the cost increase can be passed through to its customers. Pharmagen has improved its working capit...

Lahore, July 12, 2019 (PPI-OT): Liberty Mills’ ratings reflect diversity in revenue stream emanating from textile business topped up with non-core recurring income from investments. The holding company structure of the entity strengthens its profile; investment book constitutes ~53% of the equity base and related income has historically provided a significant buffer to the bottomline. Strategic holding in IPP – Liberty Power Tech – has reaped strong dividends, though showing recent decline due to ongoing liquidity issues in the power sector resulting from stuck up receivables from GoP. Over the years, the Company has built a sizeable trading portfolio which exposes it to market risk exhibited by recent volatility in the stock market. Liberty Mills, a family-owned textile co...

Karachi, July 12, 2019 (PPI-OT): K-Electric won the ‘Best Social Media Influencer Communication’ award at Pakistan Digi Awards 2019. This is the 4th award won by KE in three years and is a testament to its vision of maximizing customer convenience through the use of technology. The event was attended by leading professionals from the digital industry. Various brands, agencies and individuals competed for 80 categories this year, out of which 37 awards were given after jury-based assessments. The latest award is yet another testimony to KE’s approach towards enriching customer experience through its social media platforms state-of-the-art digital solutions. The power utility, which serves millions of consumers 24/7, has over 375,000 followers on Facebook and over 100,000 on Twitter. ...

Karachi, July 12, 2019 (PPI-OT): Turkey should remove local preventive in PTA/FTA with Pakistan, this was stated by Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry in a press release issued. He said that in the past textile exports to Turkey was based on normal tariffs of imports but later Turkey imposed protective duties i.e. 18% which were very high, leading to decline in the earlier registered increase in the textile exports to Turkey. The volume of bilateral trade between both nations drastically reduced from US$ 1.08 billion to US$ 792 million after imposition of protective duty on textile. In his statement, he appreciated the efforts of Government of Pakistan and Turkey to enter into Strategic Economic Framework (SEF) for enhan...

Karachi, July 12, 2019 (PPI-OT): Standard Chartered Pakistan launches its annual Sustainability Review, setting out how it has delivered on its strategy to provide a strong return for shareholders, while creating social and economic value in the communities where it operates. As the largest international bank in the country, Standard Chartered is now truly a part of the social fabric of this country. Through the Bank’s sustainability strategy we seek to strengthen relationships between the business, community, government and clients. Giving back to the community remains an important part of Standard Chartered’s sustainability agenda. In Pakistan, the Bank’s community efforts are focused on education and health. As a responsible company, the Bank has continued to transform people’s l...