Finance

Ten steel suppliers caught colluding in their bids for DISCO tenders D_Trends

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Ten steel suppliers caught colluding in their bids for DISCO tenders D_Trends

ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued show-cause notices to ten steel structure suppliers for their alleged involvement in collusive bidding in procurement tenders floated by various electricity Distribution Companies (DISCOs). The ten companies under investigation include M/s. AM Associates (Pvt) Ltd, M/s. Ajmer Engineering Electric Works (Pvt) Ltd, M/s. Khalifa Sons (Pvt) Ltd, … Read more

Gunvor Group eyes investment in Pakistan’s petroleum sector, confirms government D_Trends

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Gunvor Group eyes investment in Pakistan’s petroleum sector, confirms government D_Trends

ISLAMABAD: Gunvor Group, a prominent global commodities trading firm, has expressed strong interest in investing in Pakistan’s petroleum sector, according to an official statement from the Pakistani government. The announcement followed a meeting between Prime Minister Shehbaz Sharif and Gunvor Group Chairman Torbjorn Tornqvist, along with Mehmet Celepoglu, Regional Vice President of TotalEnergies, on Monday. … Read more

Gulf stock markets end mixed, Saudi index falls as investors anticipate US Fed rate cut D_Trends

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Gulf stock markets end mixed, Saudi index falls as investors anticipate US Fed rate cut D_Trends

Stock markets in the Gulf ended mixed on Monday as investors await a likely cut to US interest rates this week, with the Saudi index giving up early gains to conclude in negative territory. The US Federal Reserve is all but certain to cut rates on Wednesday, but the debate is over the size of the … Read more

Karachi’s K-4 project cost rises to Rs126bln from Rs25bln D_Trends

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Karachi’s K-4 project cost rises to Rs126bln from Rs25bln D_Trends

KARACHI: The cost of K-4 water project has jumped to Rs126 billion from the actual cost of Rs26 bln, said Sindh Minister for Local Bodies, Saeed Ghani on Monday. K-4 is a municipal infrastructure project being jointly developed by the provincial and federal governments, to augment the city’s daily water supply. The revelation of the … Read more

NICAT investment ecosystem to foster technological innovation, entrepreneurship opened D_Trends

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NICAT investment ecosystem to foster technological innovation, entrepreneurship opened D_Trends

RAWALPINDI: Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Monday inaugurated NICAT investment ecosystem aimed at fostering technological innovation and entrepreneurship in the country, providing a platform for transformative collaboration across the aerospace and technology sectors. The National Incubation Center for Aerospace Technologies (NICAT) has launched the investment startups ecosystem in collaboration … Read more

CCOCIP discusses measures to expedite CPEC projects D_Trends

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CCOCIP discusses measures to expedite CPEC projects D_Trends

ISLAMABAD: Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Monday chaired a meeting of the Cabinet Committee on Chinese Investment Projects (CCoCIP) which focused on expediting several ongoing projects under the CPEC framework. The meeting discussed the provision of electricity to the Rashakai Special Economic Zone (SEZ), import/export policies for Gwadar Free … Read more

Gold price surge, hits fresh record of Rs268,000 per tola in Pakistan D_Trends

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Gold price surge, hits fresh record of Rs268,000 per tola in Pakistan D_Trends

Gold prices in Pakistan maintained their upward trajectory on Monday in line with their increase in international rates. In the local market, the price of gold per tola jumped by Rs1,700, clocking in at Rs268,000, which is the latest record high in Pakistan. Similarly, 10-gram gold was sold at Rs229,767 after it recorded an increase … Read more

CCP issues show cause notices to 10 steel suppliers for collusive bidding D_Trends

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Ten steel suppliers caught colluding in their bids for DISCO tenders D_Trends

The Competition Commission of Pakistan (CCP) has issued show cause notices to 10 steel structure suppliers involved in procurement tenders floated by various Distribution Companies (DISCOs) for the alleged collusive bidding a, prima facie, violation of Section 4 of the Competition Act, 2010. The 10 undertakings include M/s. AM Associates (Pvt) Ltd, M/s. Ajmer Engineering … Read more

Asian bonds attract massive inflows in August on US Fed easing hopes D_Trends

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Asian bonds attract massive inflows in August on US Fed easing hopes D_Trends

Asian bonds attracted foreign inflows for a fourth successive month in August on optimism that the US Federal Reserve will start easing interest rates in September. Overseas investors made substantial purchases of regional bonds in Indonesia, India, Malaysia, South Korea and Thailand, totalling a net $14.06 billion in August – the largest monthly net purchases … Read more

Ghani Chemical approves major restructuring and demerger plan D_Trends

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Ghani Chemical approves major restructuring and demerger plan D_Trends

Ghani Chemical Industries Limited (GCIL) has announced the approval of a major restructuring initiative that includes the demerger of its Calcium Carbide Project and the merger of Ghani Products (Private) Limited (GPL) into GCIL.  The decision, made during a board meeting held on September 16, 2024, is subject to approval from the Lahore High Court … Read more