HMB earns Rs4.93bn profit in 2014

KARACHI: Habib Metropolitan Bank (HMB) posted a profit-before-tax of Rs7.31 billion in 2014, registering a year-on-year growth of 43 per cent, a press release said on Monday.

The bank’s after-tax profit in the year was Rs4.93bn. Resultantly, its earnings per share (eps) increased by 39.47pc to Rs4.7.

Mobilink receives WWF Green Office Award

ISLAMABAD: Mobilink has received the Green Office Certification for three of its businesses premises in Lahore and Islamabad, a press release said on Monday.

The latest WWF Green Office Award 2015 was granted after three of its offices were audited for consumption of electricity, paper and the residual waste and the awareness level of its employees.

Samsung unveils new phones to battle Apple

SEOUL: South Korea’s Samsung Electronics Co Ltd unveiled its latest Galaxy S smartphones, featuring a slim body made from aircraft-grade metal, in a bid to reclaim the throne of undisputed global smartphone leader from Apple Inc.

Designed from scratch in an operation dubbed “Project Zero”, the Galaxy S6 and its curved-edges variant are critical for Samsung’s plans to reverse plunging smartphone revenues that led to its first annual earnings fall in three years in 2014.

A warm initial reception sent Samsung shares on Monday to their highest in nearly nine months.—Reuters

$20bn deals to reshape GSK, Novartis

LONDON: GlaxoSmithKline and Novartis said on Monday they had completed a series of asset swaps worth more than $20 billion that will reshape both drugmakers.

GSK is forming a consumer health joint venture with Novartis, while at the same time buying the Swiss company’s vaccines business and divesting its cancer drugs portfolio to Novartis.

The two companies originally announced the transactions in April 2014 to bolster their best businesses and exit weaker ones as the drugs industry contends with healthcare spending cuts and increased generic competition.

GSK, which now plans to return 4bn pounds ($6.2bn) to shareholders, said it would provide an in-depth view of its prospects at an investor meeting to be held when it reports first-quarter results on May 6.

Published in Dawn March 3rd , 2015

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