PSX award for Pakistan Cables
Pakistan Cables won the PSX Top 25 Best Companies Award 2022, as announced in a statement by the Pakistan Stock Exchange (PSX) earlier. The award is given by the PSX in recognition of the company’s excellent financial and managerial performance for the fiscal year 2022, as per a press release.
The company’s robust performance across the award criterion included corporate social responsibility, governance and investor relations, sustainability, profitability and liquidity, which remained exemplary during the reporting period.
Pakistan Cables has been recognised by the PSX for the second time in a row, overall winning the prestigious award eight times over the years.
AHL recognised by CFA Society
Arif Habib Limited (AHL), a leading brokerage and investment banking firm, has been recognised in six categories by CFA Society Pakistan at its 20th Annual Excellence Awards for 2023, according to a press release.
AHL received Best Brokerage House, Best Corporate Finance House (Equity and Advisory), Best Corporate Finance House (Fixed Income), Best Economic Research House, Investment Ideas Competition (winner) and Best Equity Sales Person (runner-up).
AHL is the only brokerage and investment banking firm awarded winner by the CFA Society of Pakistan for the last nine consecutive years in the category of Best Corporate Finance House (Equity and Advisory). Moreover, it has been recognised as the Best Brokerage House and the Best Economic Research House for a third consecutive year.
Enhancing domestic oil production
A meeting was held in Lahore with Gohar Ijaz, Federal Minister for Commerce and Industries and SM Tanveer, Punjab Minister for Industries and Commerce, with Bashir Jan Mohammed, Chairman, Dalda Foods Limited, along with its board members and CEO, as per a press release.
Dalda pointed out the difficulties in procuring local edible oil, i.e., rapeseed and cottonseed oil. Since most of the business conducted is undocumented, Dalda’s share, as a fully documented company, is minimal in the purchase of local oil.
Mr Ijaz emphasised that Pakistan cannot afford around $5bn to import edible oils in the future. Hence, he requested Dalda Foods, as the leader in the edible oil industry, to take the initiative in oilseed cultivation.
Hyundai’s hybrid SUV
Hyundai Nishat Motor (HNMPL) organised an exclusive event in Karachi this month to provide a closer experience of the company’s latest SUV, the Hyundai SANTA FE Hybrid. As per a press release, the Hyundai Santa Fe Hybrid offers fuel efficiency, performance, and reduced emissions.
As Pakistan’s first AWD seven-seater Hybrid D SUV, it caters to larger families and environmentally conscious drivers’ needs. As a luxury SUV, it provides ample space and a lavish interior, delivering a premium driving experience.
Developing housing projects
Naguib Sawiris, Chairman & CEO of Ora Developers, expressed his enthusiasm for the progress of the Eighteen housing project in Pakistan during a press conference in Islamabad. The project, which aims to redefine the standards of luxury living in Pakistan and create a world-class community, blending modernity with natural beauty, has achieved significant milestones in infrastructure development, as per a press release. This includes the visit of the Regional Dispatch Centre of China Gezhouba Group Company.
Remitlink23 conference
The flow of remittances from the Pakistani community in Dubai could increase manifolds through banking channels with the support of financial institutions and the dedicated government scheme, states a press release. Innovative service, incentives, and community building could encourage Pakistani workers in the UAE and Gulf region to utilise banking channels to support their country’s economy in challenging times. These were speakers’ views at the daylong conference “Remitlink23: Resilient Remittances”, organised by Dellsons Associate in collaboration with the Embassy of Pakistan in UAE and Foreign Exchange and Remittance Group.
Published in Dawn, The Business and Finance Weekly, October 16th, 2023
