Meezan Bank Ltd on Thursday announced that its profit-after-tax surged to a record Rs86.02 billion in 2023 compared to Rs45.14bn in 2022, an increase of 91 per cent. The largest Islamic bank’s earnings per share reached Rs47.66 for the year as compared to Rs25.1 in 2022, on a consolidated basis. The board of directors also announced a final cash dividend of Rs8 per share. PSO loss surges
Large-scale manufacturing (LSM) continued to recover in December for the second consecutive month, data released by the Pakistan Bureau of Statistics showed on Thursday. LSM posted a paltry growth of 3.43 per cent in December on a year-on-year basis. In November, the growth in LSM was recorded at 1.59pc. The main contributors to positive growth are food, beverages, wearing apparel, leather prod
Just two days before a meeting with caretaker Prime Minister Anwarul Haq Kakar on Thursday, manufacturers have further raised steel bar prices by Rs3,000-4,000 per tonne to offset rising cost of production. A dealer at Sarya Market behind Civil Hospital quoted the price of Amreli steel bars in the southern region at Rs276,500 for size 9.5/10mm and 12mm, and Rs274,500 for sizes 16mm and above.
Two major world economies — Japan and the UK — have fallen into a recession in the second half of 2023. While Japan’s ‘unexpected fall comes off the back of a contracting gross domestic product (GDP) — its economy also shrank by 3.3pc in the previous quarter, the UK’s decline comes ahead of this year’s expected election for PM Rishi Sunak, who has promised to boost growth. The figures from J
With system losses touching a massive 14.5 per cent, the Oil and Gas Regulatory Authority (Ogra) on Thursday notified up to 9pc reduction in the sale price of Regasified Liquefied Natural Gas (RLNG) for SSGCL and SNGPL for the current month, effective Feb 1, owing to lower international prices. This is the second month in a row that RLNG prices have declined. The price had dropped by 8pc after