Karachi: KSE index touches seven-month high According to MR Securities, The Karachi Stock Exchange’s (KSE) benchmark index increased by 93 points to a seven-month high above 12,400 points, on Thursday, on select buying in energy, cement and fertiliser stocks after Engro Corporation announced record earnings, said dealers. Engro posts record …

Karachi: Engro Corp. to thrive in CY12 Engro Corporation (Engro) announced its financial results on Thursday for the year 2011. According to Standard Capital, Engro Corp’s net profit surged by 19% to Rs8.06 billion against Rs6.79 billion in the corresponding period of last year which translated into EPS at Rs20.50 …

Karachi: Textile Updates: Following the recent floods across eastern part of Australia, the Australian Bureau of Agricultural and Resource Economics and Sciences has cut down its harvest estimate of cotton by 5.6%. Cotton output may be curtailed to 1.08MT compared to the estimate of 1.144MT made on Dec 6’11, before …

Karachi: Engro Corporation (ENGRO), one of the largest conglomerates in the country, has announced results for the year 2011 where it has registered a profit after tax (PAT) of PKR 8.06 billion (EPS: PKR 20.50) as compared to PKR 6.79 billion (EPS: PKR 17.26) last year, witnessing a remarkable growth …

Karachi: National Fertilizer Marketing Ltd (NFML) has raised the prices of imported urea from PKR 1,300 per bag to PKR 1,600 per bag on account of reducing the burden of subsidy on the government. According to Alfalah Securities Limited, NFML had been distributing imported urea in the market at 27.6% …

Karachi: Wapda signed an agreement worth PKR 611.5 mn for the preparation of detailed engineering design and tender documents of Munda Dam Multipurpose Project. According to Alfalah Securities Limited, the joint venture, comprising of Pakistani, Australian and Japanese firms, has been assigned to complete the task in two years. The …

Karachi: Financial Action Task Force (FATF) has added Pakistan along with Indonesia, Ghana, Tanzania and Thailand to its blacklist of nations that failed to meet international standards of money laundering as those five countries were flaunting recommendations made to them toward fighting money-laundering and financing terrorism. According to Alfalah Securities …