Dutch wealth management firm selects ABACUS/DaVinci as a Regulatory-as-a-Service (RaaS) solution to streamline regulatory reporting processes within a short timeframe FRANKFURT, GERMANY–(Marketwired – Apr 19, 2016) – Management and technology consultancy BearingPoint, which ranks among the leading providers of regulatory technology (RegTech), announced that Van Lanschot, one of the oldest independent wealth managers in Europe, […]
Read More »Daily Archives: April 19, 2016
Change of Directors of Fauji Fertilizer Company Limited
Karachi, Fauji Fertilizer Company Limited informed Pakistan Stock Exchange about appointment of Mr. Khizar Hayat Gondal as Director of the company in place of Mr. Muhammad Arif Azim with effect from April 10, 2016. Fauji Fertilizer Company Limited is a public company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is manufacturing, purchasing and marketing of fertilizers and chemicals, including investment in other fertilizer, chemical, other manufacturing, and energy generation and banking operations. The shares of the company are quoted on the Karachi, Lahore and Islamabad stock exchanges of Pakistan. The registered office of the company is situated at Rawalpindi and it is domiciled there. Associated companies of the group are FFC Energy Limited, Fauji Fertilizer Bin Qasim Limited, Askari Bank Limited and Al-Hamd Foods Limited. The symbol “FFC” is being used by the stock exchanges for the shares of Fauji Fertilizer Company Limited.
Read More »Resolution passed in annual general meeting of MCB Bank Limited held on March 29, 2016
Karachi, MCB Bank Limited informed Pakistan Stock Exchange that non-resident directors may be allowed reimbursement of travelling expenses for the spouse twice in a financial year. Further, Company secretary and the Chief Financial Officer are authorized to do all acts, deeds and things for altering the Articles of Association of the bank. MCB Bank Limited was incorporated in Pakistan on July 9, 1947. MCB bank was nationalized in 1974 as part of Government of Pakistan’s economic reform movement. It was later privatized to Nishat Group in 1991. The bank has a domestic network of over 1208 branches, 27 Islamic banking branches and over 690 ATMs across Pakistan. It is also recognized and traded on the international markets. The bank has been acknowledged and awarded by Euromoney, MMT, Asia Money, SAFA (SAARC), The Asset and The Asian Banker. The ordinary shares of the bank are listed on Karachi, Lahore and Islamabad Stock Exchanges within Pakistan whereas its global depository receipts are traded on the international order book system of the London Stock Exchange. The registered office of the bank is located in Lahore. The bank is engaged with commercial banking and related services. The entire MCB Group includes MCB Financial Services Limited, MNET Services Private Limited, MCB Trade Services Limited, MCB- Arif Habib Savings and Investments Limited and MCB Leasing Closed Joint Stock Company. The symbol “MCB” is being used by the stock exchanges for the shares of MCB Bank Limited.
Read More »Transaction of 5,500 shares of Engro Fertilizers Limited
Karachi, Engro Fertilizers Limited informed Pakistan Stock Exchange about transaction of shares of the company. 5,500 shares @ Rs. 71.90 per share were bought from the market on April 18, 2016 through CDC. Engro Fertilizers Limited is a wholly owned subsidiary of Engro Corporation which incorporated in June 29, 2009 under the Companies ordinance, 1984 in Pakistan. Nitrogenous urea, phosphate & blended fertilizers, and micronutrients are imported, manufactured and sold by the company. Other activities include training and educating the farmers for generating a better yield. The registered office of the company is located in Karachi and the manufacturing facility is located in Daharki. The shares of the company are quoted on Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The product line of the company includes Nitrogenous urea, phosphate & blended fertilizers, and micronutrients. The products of the company include Engro Urea, Engro DAP, Engro Zorawar, Engro Zarkhez and Zingro. The symbol “EFERT” is being used by the stock exchange for the shares of Engro Fertilizers Limited.
Read More »Board meeting of Jubilee Life Insurance Company Limited to be held on April 26, 2016
Karachi, Jubilee Life Insurance Company Limited informed Pakistan Stock Exchange that the board meeting of the company is scheduled to be held on April 26, 2016 at Karachi. The agenda of the meeting shall be consideration of quarterly accounts for the period ended March 31, 2016. Further, the closed period of the company shall be from April 20, 2016 to April 26, 2016. Jubilee Life Insurance Company Limited incorporated in Pakistan on June 29, 1995 as a public limited company under the Companies Ordinance, 1984. The operations of the company started on June 20, 1996. The products and services which the company offers include individual life insurance, banc assurance, micro insurance, corporate insurance and priority insurance. The shares of the company are quoted at the Karachi Stock Exchange. The registered office of the company is located in Karachi. Jubilee Life Insurance is a subsidiary of the Aga Khan Fund for Economic Development, Switzerland. It is the economic development arm of the AKDN, a group of private, non-denominational development agencies. The sister concerns of the company are the Aga Khan University Hospital, Jubilee General Insurance Company Limited, the Aga Khan Health Services, Tourism Promotion Services, First Micro Finance Bank Limited, Habib Bank Limited, the Aga Khan Education Services and Focus Humanitarian Assistance. The international associate of the company includes Jubilee Insurance Kenya, Uganda, Tanzania, Burundi and Mauritius. The symbol “JLICL” is being used by the stock exchanges for the shares of Jubilee Life Insurance Company Limited.
Read More »Financial results of Pakistan Stock Market Fund for period ended March 31, 2016
Karachi, Pakistan Stock Market Fund informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on April 18, 2016. The agenda of the meeting was discussion of profit and loss account for the nine month period ended March 31, 2016 which portrayed a profit of Rs. 178,652. Further, nil payment of cash dividend, bonus shares and right shares was agreed. MCB Pakistan Stock Market Fund (MCB-PSM) (Formerly: Pakistan Stock Market Fund PSM) is an open end equity fund that invests in quality stocks listed in Pakistan. The fund is actively managed and fundamental research drives the investment process. Fundamental outlook of sectors/companies and DCF (discounted cash flow) valuations are the primary factors in sectors’ allocation and stock selection. Major portion of the fund’s portfolio is high quality liquid stocks. The funds which are not invested in equities are required to be kept in bank deposits and short-term money market instruments/ placements. MCB-PSM is a long only fund and cannot undertake leveraged investments. The symbol “OEFPSMF” is being used by the stock exchange for Pakistan Stock Market Fund.
Read More »Board meeting of First Dawood Investment Bank Limited to be held on April 26, 2016
Karachi, First Dawood Investment Bank Limited informed Pakistan Stock Exchange that board meeting of the company is scheduled to be held on April 26, 2016 at Karachi. The agenda of the meeting shall be consideration of third quarterly accounts for period ended March 31, 2016. Further, the closed period of the company shall be from April 19, 2016 to April 26, 2016. First Dawood Investment Bank Limited is a company incorporated in Pakistan on June 22, 1994 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The company obtained the license for leasing Business and Investment and Finance Services under Non-Banking Finance Companies Rule, 2003 and Non Banking Finance Companies and Notified Entities Regulations, 2008 from the Securities and Exchange Commission of Pakistan. It is listed on Karachi and Islamabad Stock Exchanges of Pakistan. The registered office of the company is situated at Karachi. The symbol “FDIBL” is being used by the stock exchange for the shares of First Dawood Investment Bank Limited.
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