Tag: Firms

KARACHI - Dow Jones Indexes (DJI), a leading international global index provider, has decided to remove two Pakistani firms listed at the country's stock exchanges from its international indexes.
The total free-float market capitalisation of the reconstituted Dow Jones SAFE Pakistan Titans 15 Index has increased by 2.1 percent or $17 million to $ 8.12 billion from the previous level of $7.95 billion while the total free-float market capitalisation increased to $370.88 billion

KARACHI - The Securities and Exchange Commission of Pakistan registered 23 companies conducting foreign investment in February. In addition, one foreign company was also registered during the month.
Out of the 23 companies, six were from China, five from the US, two from South Korea and the remaining one each from Turkey, Sweden, Malaysia, the UK, Denmark, Romania, the UAE, Afghanistan, Iran and Canada. Seven companies were registered in Islamabad, three in Lahore, 11 in Karachi

ISLAMABAD - The Securities and Exchange Commission of Pakistan (SECP) registered 324 companies in February.
The private companies have the highest share in the new incorporations totaling 290. In addition, there are 26 single-member companies, one public unlisted company, six non-profit associations and one foreign company.
Lahore Company Registration Office (CRO) registered 113 companies with the CRO in Islamabad and Karachi registering 90 and 89 companies, respectively.

KARACHI - The Sindh government informed the provincial assembly on Friday that five companies are working on different blocks of the Thar coalfield, whereas the Coal and Energy Development Department is making efforts to offer three more developed blocks for investment. Sindh Chief Minister Qaim Ali Shah, who personally looks after the coal energy sector in the province, stated this in his written replies to questions asked by different members of the assembly. Sindh Law Minister Ayaz

LAHORE - A full bench of the Lahore high Court (LHC) on Thursday ordered lawyer AK Dogar, who is challenging President Asif Ali Zardari for holding two offices simultaneously, to file a reply to an application challenging his practicing license over his firm Pakistan Lawyers Forum's alleged violations of Punjab Bar Council (PBC) rules. Dogar had filed a petition along with engineer Ghulam Jillani and lawyer Asif Mehmood Khan asking the court to censure Zardari for simultaneously

BERLIN - Despite some improvements, oil and gas firms must do more to help stop corruption in the poor but resource-rich countries where they operate, watchdog Transparency International (TI) said on Tuesday. "Two-thirds of the world's poor live in resource-rich countries. They have a right to know how much money their governments get from companies to exploit these resources," Berlin-based TI said as it published a new report.
"It is good news that transparency is improving,

WASHINGTON - The US Treasury on Tuesday blacklisted six individuals and five business entities in Iran and Turkey for providing materials and support to Iran's ballistic missile development efforts.
The sanctions target a procurement network that has facilitated more than $7 million in transactions for Aerospace Industries Organisation, which oversees all of Iran's missile industries, the Treasury said in a statement. The actions ban US entities from transactions with the

ISLAMABAD - The Supreme Court on Thursday directed the Balochistan government to provide details of agreements it made with foreign companies for exploration of gold and copper mines in Reko Diq area in Balochistan.
A four-member bench - comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday - was hearing a case against leasing of Reko Diq gold and copper mines in Balochistan worth more than $260

KARACHI - The Karachi Stock Exchange (KSE) Tuesday issued a revised list of the companies eligible for trading in Cash Settled Futures Contract (CSFC) market. Through a notice (KSE/N-326) the bourse notified the members the names of some 38 securities declared eligible for the CSFC trading in the equity market.
The KSE list for eligible securities include some 30 old, new and outgoing companies that according to KSE criteria must be other than Asset Management Companies (AMC),

KARACHI - The Sindh government has decided to monitor the hiring process of private security agencies working in the province to ensure that they do not give jobs to terrorists and criminals. It would also take action against security agencies operating without the government's permission.
The decisions were taken in a meeting on Tuesday between a seven-member All Pakistan Security Agencies Association (APSAA) delegation led by its chairman Muzzaffar Ata Malik and Sindh Home

KABUL - Kabul said on Thursday that President Hamid Karzai ordered his government to intensify efforts to disband private security firms, the latest twist in a saga that has pitted him against his Western allies.
Karzai met his National Security Council (NSC) to discuss the future of the firms, the government announced, one day after rejecting US calls to nearly double the legal quota of private security guards in the war-torn country.
The president, whose relations with

LAHORE: Business Recorder Lahore and AAJ TV held a reference in memory of their founder Editor-in-Chief and Patron-in-Chief M A Zuberi who died on December 12 at the age of 90.
Wamiq Zuberi, the successor editor-in-chief and chief executive of the group presided over the reference which was also addressed by Member National Assembly (MNA) and former PML-N finance secretary Pervaiz Malik, English newspaper Pakistan Today Editor Arif Nizami and veteran journalist Prof Azizuddin

KARACHI: The day kicked off with PSO shares rising to Rs 298.34 because of the Rs 35 billion assured yesterday on account of the circular debt issue. The index floated around the 11,800 mark in the first half, with a few second tier scrips performing well along with PSO.
The second half brought news that fertiliser companies raised their urea prices by Rs 190, which made Engro and FFC cause a little bull run. The index closed at 11,858 points with 87 million shares traded,

KARACHI: Trading in the shares of almost two dozen companies listed at the Karachi Stock Exchange (KSE) is suspended for the last two months, Pakistan Today learnt Wednesday.
At least 22 companies from various sectors such as textile, mutual fund, insurance, dairies, ceramics etc., have been under fire since October for not complying with the orders of KSE management.
Pakistan Industries and Commercial Leasing Limited, Dadabhoy Sack Limited, Business and Industrial

LONDON: Pakistan is nearly ready to launch a privatisation programme which aims to bring in foreign management expertise and tap international markets to turn around its flagging state-owned industries, the privatisation minister Waqar Ahmed Khan said in an interview. "You will see in the next 12 months about 5 or 6 deals coming on the block," he said on Sunday, adding that he expected the first deal in January.
Pakistan privatisations in the past have been dogged by allegations