Lahore: In a decisive move to restore confidence and enhance team morale, the Pakistan Hockey Federation (PHF) has cleared all outstanding financial obligations to players, officials, and staff, ahead of crucial international competitions. The federation has fully disbursed pending daily allowances and dues for athletes across the senior, junior, and under-18 national teams, along with … Read more
KARACHI: The Habib Bank Limited (HBL) on Friday announced profit-after-tax of Rs10.7 billion during the fourth quarter of the calendar year 2022, which is 28 per cent higher on a year-on-year (YoY) basis, a statement said. However, the profit-after-tax declined 7 per cent on a quarter-on-quarter (QoQ) basis. Analysts at Arif Habib Limited said the … Read more
KARACHI: The sixth edition of “The Future Summit” (TFS) kicked off with a full house at a local hotel in Karachi, a statement said on Wednesday. The event opened with an address of welcome by Nutshell Group Founder and Chief Executive Officer (CEO) Muhammad Azfar Ahsan. The platforms like TFS are to build the pressure … Read more
The carpooling service consists of a pool of cars. Using the programme, adjacent employees get an optimised path. This would allow office workers to reduce their travel. Careem has added a carpooling function to its corporate portfolio ‘Careem for Business (C4B)’ to better serve its corporate clients in light of the enormous increase in global … Read more
Habib Bank’s earnings up 13% The Habib Bank Limited (HBL) announced the earnings for 2021 at Rs35 billion, depicting a surge of 13 per cent. The jump in the earnings on a yearly basis is primarily due to reduced provisioning charges, as last year saw elevated expenses, as part of building general coverage along with … Read more
KARACHI: The investment in registered prize bonds has surged over 140 per cent by December 31, 2021; following the drive of documentation initiated by the government. According to the official data released by the Central Directorate of National Savings (CDNS), the investment in registered or premium prize bonds sharply increased to Rs54.92 billion by the … Read more
KARACHI: The low foreign inclusion factor remains a major reason for Pakistan’s MSCI Index to witness no major changes in the negotiations, analysts said. The MSCI has commenced consultations on the potential inclusion of MSCI Pakistan Index to the MSCI Frontier Market (FM) 100 index and MSCI FM 15 per cent Country Capped Index, a … Read more
KARACHI: The Morgan Stanley Capital International (MSCI) has added Pakistan in MSCI FM 100 and MSCI FM 15% country cap index, which could bring around $85 million inflows to the local stock market. Wajid Rizvi at JS Global Capital said that Pakistan would become a part of these indices in the upcoming MSCI Semi-Annual Index … Read more
KARACHI: Habib Bank Limited (HBL) and Daraz have partnered to enable UnionPay cardholders to conduct e-commerce transactions from Daraz online marketplace, a statement said on Monday. With this enablement, UnionPay cardholders can now perform seamless and secure transactions on Daraz, it added. HBL digital channels and solutions head Kamran Mehdi Jaffery commented, “HBL empowers its … Read more
The Habib Bank Limited (HBL), being the largest in the sector, can be categorised as a proxy for exposure on Pakistan’s economy. An external account crisis such as currency depreciation, rising current account deficit warranted action by the authorities to put brakes on growth and increasing discount rate. Analysts expect the HBL’s stock to perform … Read more
KARACHI: Bank financing for housing and construction sharply increased 85 per cent, or Rs163 billion, to Rs355 billion in the financial year 2021, the State Bank of Pakistan (SBP) reported on Thursday. The total outstanding credit of banks for housing and construction stood at Rs192 billion in the preceding year. Within the housing and construction … Read more
KARACHI: The largest private sector bank of Pakistan, i.e., Habib Bank Limited (HBL) on Tuesday faced technical faults, which deprived millions of its customers from making transactions. HBL officials said the banking activities were hampered during the day; however, the issues were resolved by the evening. Earlier, many customers of HBL complained that they were … Read more
KARACHI: If the macroeconomic situation in Pakistan stabilises after the resumption of the International Monetary Fund (IMF) programme, there will be more initial public offerings in 2022. “Though, there are a few IPOs [initial public offerings] in [the] pipeline, as companies plan to expand their capacities, the outlook on IPOs will depend on the overall … Read more
KARACHI: The bearer prize bonds of high denomination will expire by the end of the current month but unregistered securities worth billions of rupees are still in circulation. The government has decided to withdraw the bearer bonds with denominations of Rs7,500, Rs15,000, Rs25,000 and Rs40,000 and set a deadline of December 31, 2021 to exchange … Read more
LAHORE: The National Transmission and Dispatch Company (NTDC) has secured a Rs6.40 billion financing facility from the consortium of banks, Habib Bank Limited, National Bank of Pakistan and BankIslami Pakistan Limited, a statement issued by the company said on Tuesday. The financing facility will be utilised for the construction of 220/132kV substation and 35km-long allied … Read more
KARACHI: The Federal Board of Revenue (FBR) on Friday constituted two separate committees for the identification and removal of technical and legal anomalies in the proposed amendments to the tax laws. Habib Bank Limited (HBL) Chairman Sultan Ali Allana has been appointed as the chairman of the business anomaly committee. Chaudhry Muhammad Tarique, Member (IR-Policy), … Read more
