Engro Polymer gives 73% return to shareholders

    By NewzTodays Editorial Team | April 30, 2021

    Aftab Ahmed Islamabad: The Engro Polymer has given 73% return to shareholders following impressive performance as the scrip has outrun the benchmark index by a whopping 73% since FYTD. The sharp outperformance has been mainly driven by the global upcycle in PVC primary margins (USD 1,073/ton, 2.8x since FYTD) which have reached their record-highs due…

    Apple’s stock outperforms

    By NewzTodays Editorial Team | April 29, 2021

    Apple’s stock has outperformed over the past year. It  returned 91.8% overall over the past year, more than the S&P 500’s total return of 46.1%. Apple Inc. (AAPL) reported earnings for Q2 fiscal year 2021, which easily beat the consensus estimate. The price of Apple stock went up as earnings per share (EPS) of Apple was…

    SECP to Introduce Concept of SPA Company

    By NewzTodays Editorial Team | April 28, 2021

    ISLAMABAD: In light of its vision to provide a viable and sustainable eco-system for capital formation, the Securities and Exchange Commission of Pakistan (SECP) is exploring the concept of special purpose acquisition company (SPACs). To introduce the SPAC, the SECP has proposed amendments to the Public Offering Regulations, 2017 to solicit public comments. The draft…

    PSO to import petrol from Saudi Arabia on deferred payment

    By NewzTodays Editorial Team | April 28, 2021

    Aftab Ahmed Islamabad: Prime Minister Imran Khan is set to seek import of petrol by Pakistan State Oil (PSO) on deferred payment to ease pressure on foreign exchange. The price of Petrol in Pakistan today fluctuates due to its oil import. The monthly requirement for petrol is around 0.7 million metric tons. Earlier, Pakistan has been…

    KE chairman meets Finance Minister

    By NewzTodays Editorial Team | April 27, 2021

    Islamabad: Chairman K-Electric Shan A. Ashary along with Mr. Khaqan Khan, Member Board of Director and CEO K-Electric Syed Moonis Abdullah Alvi called on the Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, at Finance Division. Furthermore, the Chairman briefed the Finance Minister about operations of K-Electric as the main power utility, meeting the…

    Electricity: IESCO top performer company in reducing losses

    By NewzTodays Editorial Team | April 25, 2021

    Ibn-e-Ameer Islamabad: Electricity is surplus now what policymakers say. However, electricity theft continues by energy companies. Islamabad Electric Supply Company (Iesc0) has emerged as a top performer in reducing the losses during the ongoing financial year 2020-21. Among all other distribution companies, its losses stand at the lowest level which turns Iesco as top performer…

    Govt awards 6 oil and gas exploration blocks

    By NewzTodays Editorial Team | April 23, 2021

    Aftab Ahmed Islamabad: The Government on Friday awarded six exploration blocks to oil and gas exploration and production companies to attract a minimum of US $ 24.68 Million firm work commitment. Federal Minister for Energy Mr Muhammad Hammad Azhar graced the signing ceremony of Petroleum Concessions/ Exploration Licences of 6 oil & gas blocks at…

    Oil, gas firms contribute Rs 864bn in taxes

    By NewzTodays Editorial Team | April 22, 2021

    Aftab Ahmed Islamabad: The State-owned Entities (SoEs) in the oil and gas sectors contribute Rs 864 billion in taxes annually. The Petroleum division informed during a meeting held here on Thursday. Federal Minister for Energy Mr. Hammad Azhar chaired a briefing session on the petroleum sector at Petroleum Division today. Mr Mian Asad Hayaud Din,…

    Oil terminals’ illegal licenses: PD sacks DoE officials

    By NewzTodays Editorial Team | April 21, 2021

    The companies include Attock Petroleum, M/S Puri, Engro Thar Coal, Fauji Trans Terminal Limited, and Al-Noor Oil Terminal Aftab Ahmed Islamabad: The petroleum division has terminated two officials of the Department of Explosive (DoE) over an illegal grant of licenses to several oil terminals at port Qasim, Karachi, said Order of petroleum division The petroleum division…

    TRGIL to sell its full stake in E-telequote

    By NewzTodays Editorial Team | April 20, 2021

    Islamabad: Primerica Inc, a Delaware Corporation has entered into a share purchase agreement with E-Telequote Limited to acquire 80% of the shareholding at an EV of US$600mn. The remaining 20% stake will be acquired by Primerica over the next four years. The deal is expected to be not before Jul 01, 2021, as per notices…