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  • Forex reserves jump to $14.584bln

    December 21, 2018 12:00 AM 18

    KARACHI: Pakistan’s foreign exchange reserves rose 6.04 percent to $14.584 billion during the week ended December 14 following inflows received from Saudi Arabia, the central bank said on Thursday. The foreign exchange reserves held by the State Bank of Pakistan increased to $8.04 billion from $7.260 billion. “SBP received inflows of $1 billion from Saudi

  • ‘Private SEZs to be treated like state-owned’

    December 21, 2018 12:00 AM 17

    “We have so far received nine applications from private sector to set up private SEZs in different cities of Punjab, which are being considered for further approval,” a senior Board of Investment (BoI) official said while talking to Associated Press of Pakistan (APP). The official said the BoI was working on 100 days’ reforms agenda with a deadline of January

  • Matco Foods’ new plant tocome online by May next year

    December 21, 2018 12:00 AM 19

    KARACHI: Matco Foods Limited (MFL), one of the top rice exporters of Pakistan, has procured most of the equipment for its rice glucose syrup and protein plant, which is expected to come online by May 2019. This new expansion would increase the total production capacity of the company to 30,000 tons rice glucose and 3,000 tons rice protein per annum

  • FAO to help Pakistan develop climate-resilient agriculture

    December 21, 2018 12:00 AM 18

    ISLAMABAD: Food and Agriculture Organization (FAO) of the United Nations will help Pakistan develop climate-resilient agriculture sector for food security and share knowledge to avert almost $700 million of annual losses to livestock caused by diseases, under a five-year agreement. Minister for National Food Security and Research Mehboob Sultan and FAO representative

  • KU awards 30 PhD, 23 MPhil degrees

    December 20, 2018 12:00 AM 18

    The Board of Advanced Studies and Research (BASR) of Karachi University (KU) on Wednesday awarded 30 PhD and 23 MPhil degrees in various disciplines. According to the KU spokesman, the BASR recently held its meeting under the chairmanship of Vice Chancellor Professor Dr Muhammad Ajmal Khan. In the meeting, the varsity’s high-ups decided to confer degrees

  • Petroleum exports up 61pc in July-Nov

    December 20, 2018 12:00 AM 21

    ISLAMABAD: Export of petroleum group and coal products surged 60.84 percent to $216.723 million during the first five months of the current fiscal year. Latest data of Pakistan Bureau of Statistics (PBS) showed that petroleum crude’s exports increased 97.39 percent to $104.162 million in July-November 2018/19. Similarly, export of petroleum products

  • BankIslami, Audi extends alliance

    December 20, 2018 12:00 AM 21

    KARACHI: BankIslami Pakistan Limited, one of the leading Islamic banks of Pakistan, has extended its agreement for 2018, with Premier System (Pvt) Ltd (Audi Pakistan) Pakistan's No 1 luxury premium automobile brand, a statement said on Wednesday. With the successful completion of two years of alliance, both BankIslami and Audi Pakistan have reaffirmed

  • PIBTL handles first pet coal cargo

    December 20, 2018 12:00 AM 16

    KARACHI: Pakistan International Bulk Terminals Limited (PIBTL) has unloaded first-ever pet coke coal vessel in just around 17 hours, saving the importer precious time and money. “This was the first ever consignment of pet coke at PIBT which is more difficult to handle than normal coal due to its smaller size,” a statement said on Wednesday. “But, it was handled

  • FrieslandCampina officials meet minister

    December 19, 2018 12:00 AM 21

    ISLAMABAD: The leadership of FrieslandCampina and Engro Foods met with Minister of National Food Security Sahibzada Muhammad Mehboob Sultan last week to discuss human nutrition and dairy development programme for the country’s progress. FrieslandCampina global CEO Hein Shumacher discussed the importance of human nutrition and food safety with the minister

  • BAHL launches new product

    December 18, 2018 12:00 AM 22

    KARACHI: Bank Al Habib (BAHL) has launched Al Habib Mahana Munafa Account featuring monthly payment of profit, a statement said on Monday. “The investment is available in five flexible schemes from one- to five-year term with monthly profit payments up to 10.10 percent/annum on a five-year deposit,” the bank said in the announcement. It added that the minimum