Political unrest and higher commodity prices resulted in volatility in the shares market on Wednesday. According to Arif Habib Ltd, the cement sector faced pressure owing to higher coal prices in the international market. United Bank Ltd was in the limelight after it announced better-than-expected financial results. Value hunting was observed in the last trading hour, which led to a recovery in
Oil and Gas Development Company Ltd (OGDCL) posted a profit of Rs35.3 billion for the second quarter of 2021-22, up 87 per cent from a year ago, a stock filing said on Wednesday. Its earnings were in line with analysts’ expectations, said a note by Insight Securities. The company also announced an interim cash dividend of Rs2 per share. Revenue increased 46pc year-on-year to Rs79.6bn, tha
Oil prices surged close to $100 per barrel on Tuesday as major crude producer Russia sent troops into two breakaway regions of Ukraine. But after heavy falls at the open, European stocks bounded into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine and Western nations held off on imposing draconian sanctions. Brent North Sea crude oil reached $99
Local fintech platform NayaPay has raised $13 million in one of the largest seed rounds in South Asia, a press release said on Wednesday. NayaPay recently secured the first E-Money Institution (EMI) licence from the central bank. It aims to make financial services simpler and accessible with its two-sided platform for the underbanked. Zayn Capital, global fund manager MSA Novo and early-stag
Pakistan is in the process of signing a bilateral investment treaty with Hungary and the first round of negotiations were held in Islamabad, Minister of State and Chairman Board of Investment (BoI) Muhammad Azfar Ahsan said on Wednesday. Speaking at the foundation of AcquaHatch International Private Limited, a Pak-Hungarian joint venture (JV), the BoI chief said ties between the two countries w