Jubilee Life Insurance posts Rs1.39bn profit

KARACHI: Jubilee Life Insurance Company Limited announced its financial results for the year ending on Dec 31, 2013, reporting a pre-tax profit of Rs1.390 billion, up 72 per cent from Rs809 million a year earlier.

With after-tax profit of Rs941m, the earnings per share (EPS) stood at Rs15.01, a press release said.

WEF, Mishal to conduct survey

KARACHI: The World Economic Forum in partnership with Mishal Pakistan will conduct the Executive Opinion Survey 2014 in Pakistan beginning in March.

The survey, “The Voice of the Business Community”, is a major component of The Global Competitiveness Report, according to a press release issued on Thursday.

The Survey gathers information on a broad range of variables for which hard data sources are scarce or nonexistent. High-level business executives operating in the country will be surveyed to capture their opinion on the business environment in which they operate.

The Global Competitiveness Report has been the World Economic Forum’s flagship publication since 1979 and is recognised as a cross-country comparison of factors affecting economic competitiveness and growth.

Telenor to spend Rs142m on schools

LAHORE: Telenor Pakistan is partnering with PLAN International to rehabilitate and improve the quality of education through ICT in middle level public schools affected by floods.

For this project, Telenor has allocated Rs142 million towards reconstruction and rehabilitation of 44 flood-affected government middle schools in Punjab, KPK and Sindh over a period of over two years. A press release issued on Thursday said that more than 10,000 students, across the three provinces in the country will benefit from this project.

Standard Chartered profit up 77pc

KARACHI: Standard Chartered Bank (Pakistan) Limited has announced profits and income for the year 2013, posting a profit before tax of Rs16.1 billion. This translates into earnings per share of Rs2.72.

The profit was up 77 per cent over 2012 when EPS was Rs1.53, according to a press release.

The interest rates reduction of last couple of years impacted the bank’s revenue resulting in it being lowered by 10pc to Rs24.2bn.