Karachi, VIS Credit Rating Company Limited has downgraded the entity and short-term ratings of Agha Steel Industries Limited (ASIL) to ‘BB-/B-3’ from its previous position, indicating a negative outlook for the steel producer’s financial health.Accordi…

Karachi, The Pakistan Credit Rating Agency Limited (PACRA) has assigned a preliminary long-term rating of ‘AA’ and a short-term rating of ‘A1+’ to Lucky Electric Power Company Limited’s (LEPCL) forthcoming sukuk issuance, PPSTS-18, valuing PKR 7 billio…

Karachi, Systems Limited (SYS) unveiled its financial results for the calendar year 2023 (CY23), reporting a consolidated profit of Rs8.7 billion, an increase of 31% year-on-year (YoY). The announcement followed a corporate briefing that provided insig…

Karachi, The Karachi Stock Exchange’s benchmark KSE100 index experienced a decline, closing 137 points down at 67,005, following a session of profit-taking across the board. This movement comes after the index recently reached an all-time high, indicat…

Islamabad, Pakistan’s banking sector has reported a significant surge in non-performing loans (NPLs), hitting a 14-year high, as financial institutions maintained a cautious approach towards loan book expansion throughout the calendar year 2023 (CY23)….

Karachi, The Karachi Stock Exchange’s KSE-100 index is on a path to potentially surpass its recent peak, signaling a promising outlook for the near future, especially within the cement sector. Analysts predict a significant recovery, with technical ind…

Karachi, In a recent financial analysis, JS Global has reiterated its ‘Buy’ recommendation on Habib Metropolitan Bank (HMB), anticipating a robust return on investment fueled by the bank’s strategic focus on optimizing deposit costs and enhancing asset…

Islamabad, In the second quarter of the fiscal year 2024, Pakistan’s textile sector witnessed a mixed bag of results, with an impressive year-over-year growth in revenues and profit after tax (PAT), but a decline when compared to the previous quarter, …

Karachi, This month has seen a normalization in power generation costs despite a noticeable decrease in power generation on both a month-on-month and year-on-year basis. February’s figures revealed a 14% drop from the previous month and an 8% decrease …

Karachi, In its latest monetary policy decision, the State Bank of Pakistan (SBP) has chosen to maintain the Policy Rate at 22%, a stance it has held since July 2023. Despite observing a declining trend in inflation, the Monetary Policy Committee (MPC)…