By NewzTodays Editorial Team | June 4, 2021

Pakistan has achieved a compliant/largely compliant rating in 31 out of 40 FATF Recommendations in Technical Compliance Asia Pacific Group (APG) on Money Laundering has published results of Pakistan’s second Mutual Evaluation follow-up Report on 2 June 2021. Pakistan is struggling to comply with all recommendations of the FATF to come out of the grey…

By NewzTodays Editorial Team | June 4, 2021

Aftab Ahmed Islamabad: National Electric Power Regulatory Authority (NEPRA) has opposed modification in electricity tariff rules to eliminate subsidy within the Industrial, Commercial, and Bulk Consumers. The power division has proposed modification in tariff rules 1998 to give the effect of uniform electricity tariff. The government wants to amend rules to enforce uniform electricity tariffs….

By NewzTodays Editorial Team | June 4, 2021

ISLAMABAD:  The Securities and Exchange Commission of Pakistan (SECP) registered 1,597 new companies in May 2021, witnessing a growth of 107 % as compared to corresponding period last year. The total number of registered companies increased to 143,416. This is for the second consistent month that over 100% growth in incorporation of new companies is…

By NewzTodays Editorial Team | June 2, 2021

The Economic Coordination Committee (ECC) on Wednesday allowed Pakistan Petroleum Limited (PPL) to revalidate the feasibility of investment for oil and gas exploration activities in Iraq. The petroleum division had sought the approval of the summary for the revalidation of the ECC approval for exploration of oil and gas activities in Block-8 Iraq by PPL….

By NewzTodays Editorial Team | June 2, 2021

ISLAMABAD: In continuation with its efforts to promote digitization and broaden the investor base in the Non-Banking Finance Services, the Securities and Exchange Commission of Pakistan (SECP) has issued guidelines on Mutual Fund Digital Platforms (MFDP) in Pakistan. Digital Distribution Platforms will act like a one-stop shop that allows investors, financial advisors, and wealth managers to select…

By NewzTodays Editorial Team | June 2, 2021

Islamabad: Wateen Telecom Pakistan, a leading ICT company with a fiber infrastructure across 250 cities in Pakistan, has signed an agreement with Huawei Pakistan to modernize its countrywide data transmission network. Wateen will be deploying a state-of-the-art Optical Transmission Network from Huawei to revolutionize the digital landscape of Pakistan. The agreement was signed in Lahore…

By NewzTodays Editorial Team | June 2, 2021

Pakistan’s exports increased by 14% to USD 22.563 billion during Jul-May 2021 compared to USD 19.801 billion in Jul-May 2020. Imports in Pakistan have always been higher compared to exports. However, present government has been making efforts to increase exports and shrink imports in Pakistan. This is an increase of USD 2.762 billion and the…

By NewzTodays Editorial Team | June 2, 2021

The global coal prices increased due to a rebound in global economic activity post-outbreak of COVID across the globe. The majority of this incremental demand is driven by strong energy demand in China amid a decline in domestic coal production along with the ban on coal imports from Australia. Furthermore, average coal prices increased by…

By NewzTodays Editorial Team | June 2, 2021

Topline Securities has initiated coverage on ICI Pakistan Limited (ICI) with a ‘Buy’ rating and a Dec-2021 Target Price (TP) of Rs1,130, offering a potential total return of 29% (including a dividend yield of 4%). ICI will post a 5-year (FY20-FY25) earnings CAGR of 34%, where the Soda Ash segment is likely to drive profitability…