Bulls continued their stampede on the trade floor as shares at the Pakistan Stock Exchange (PSX) breached a new record of 85,000 in intraday trade on Monday. The benchmark KSE-100 index climbed 712.77 points, or 0.85 per cent, to stand at 84,244.72 from the previous close of 83,531.95 points at 12:21pm. Finally, the index closed 84,910.29 points, up by 1378.34 points or 1.65pc, from the previou
In the world of startups, attention spans are usually short-lived, just like the apps they build out. One day, you’d be a star, getting media attention left right and centre, speaking at conferences and being named in the Forbes 30 under 30. The following month, you could be facing legal proceedings on charges of fraud. Yet, one company has managed to keep everyone hooked for close to two years
The Engineering Development Board (EDB) has granted Regal Automobiles a licence to assemble the country’s first electric SUV at its Lahore plant. The locally assembled electric SUV, the Seres 3, would be available in two variants: the Seres 3 (3.5), equipped with a 49kWh battery and a 5-seater capacity, and the Seres 3 (4.0), featuring a 54kWh battery with the same five-seater capacity. The Ser
PPL Asia E&P B.V. (PPL Asia), a subsidiary of Pakistan Petroleum Ltd (PPL), has reached an amicable $6 million settlement with Midland Oil Company (MdOC), a state-owned Iraqi oil entity, for Block-8 in Baghdad. This settlement marks the conclusion of their Exploration, Development and Production Service Contract (EDPSC) for Block-8 in Iraq, which expired in May 2022. PPL, in a stock filing
The Competition Commission of Pakistan (CCP) has approved the acquisition of 100 per cent equity shares of the National Security Printing Company Ltd (NSPC) by Pakistan Security Printing Corporation (Pvt) Ltd (PSPC), marking a pivotal step in the reorganisation of Pakistan’s security printing sector. PSPC, a wholly-owned subsidiary of the State Bank of Pakistan (SBP), is entrusted with printi