corporate watch

Published July 29, 2015

Meezan Bank profits rise 19pc

KARACHI: Meezan Bank has announced a half-yearly profit of Rs2.67 billion for the six months ended June 30, 2015, a year-on-year increase of 19pc.

Earnings per share of the bank translated into Rs2.67 compared to Rs2.25 last year. Its deposits increased by 14pc from Rs380bn in December 2014 to Rs435bn in June 2015.

VW beats Toyota to become biggest carmaker

TOKYO: Toyota has fallen behind Volkswagen in the race for the world’s biggest automaker title, figures showed Tuesday, as the German giant outsold its Japanese rival in the first half of the year.

Toyota said it sold 5.02 million vehicles worldwide between January and June, falling below earlier figures from Volkswagen of 5.04m units shifted in the same period.

US-based General Motors was sitting in third spot with 4.86m in sales.—AFP

BP’s buy less likely after $18.7bn settlement

LONDON: BP is less likely to be acquired following its $18.7 billion settlement over the 2010 Macondo oil spill, Chief Executive Officer Bob Dudley said on Tuesday. There has been much speculation in recent months that the British oil and gas giant could become an acquisition target for a larger rival, leading the British government to warn it would oppose any takeover bid.

Infinix Mobility unveils Zero2 smartphone

KARACHI: Infinix Mobility has launched Infinix Zero2, their flagship smartphone, in Pakistan, said a press release issued on Tuesday.

The smartphone will be available for purchase exclusively through online retail store Daraz.pk.

Safe Mix to raise concrete carrying capacity

KARACHI: Safe Mix Concrete Limited, a company listed on the Karachi Stock Exchange, has added two 14-cubic-metre Gandhara Nissan Dongfeng concrete transit mixers to its fleet, “which are the biggest of its kind in Pakistan”, a press release said on Tuesday. This would increase the company’s concrete carrying capacity by 20 per cent annually, it added.

Published in Dawn, July 29th, 2015

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