October 12, 2020: The International Trade Expo has commenced online in Tianjin China today.
Companies from all over the world including Pakistan will showcase their products online in the Expo which will continue till 16th of this month.
Radio Pakistan
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October 28, 2020 (MLN): The Board of Directors of Loads Limited in its meeting held on October 28, 2020 resolved that the Company intends, in the near future, to carry out a right issue of ordinary shares.
The aggregate amount of the potential right issue may, if deemed fit by the Board, be up to PKR 1,000,000,000/-(Pak Rupees One Billion only), which, if the Company proceeds to announce, are intended to be issued at par value, the proceeds of which are intended to primarily be utilized for, inter alia, meeting the working capital requirements of the Company and investing in group entities.
The purpose of the above is to enable shareholders, particularly associated concerns, of the Company to obtain corporate approvals, including shareholders' approval, to invest in the potential right issue of the Company (if deemed fit by such parties) and provide confirmations to the Company (if required under the applicable laws).
The Board further resolved that it shall approve and announce the actual right issue at a future date in accordance with the applicable laws, as the Board deems fit.
Copyright Mettis Link News
October 28, 2020 (MLN): Hascol Petroleum Limited (HASCOL)’s marketing activities have been restored in the KPK region as the company has obtained a stay order from the Sindh High Court against a decision of the Oil and Gas Regulatory Authority (OGRA), which had suspended the marketing license of the company for Khyber Pakhtunkhwa.
According to the notice issued to PSX, last week, the Company filed a Review Petition to OGRA, and also earlier this week, the Company has challenged the impugned decision dated 20.10.2020 passed by OGRA before the Hon'ble High Court of Sindh, the company reported that the Hon'ble Court has passed a stay order dated 27.10.2020 ("Stay Order-) against OGRA restraining it from taking any coercive action in pursuance of the impugned decision dated 20.10.2020.
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October 28, 2020 (MLN): Federal Minister of Industries and Production, Mr. Hammad Azhar has said that the Trading Corporation of Pakistan has imported sugar at the most competitive rates from international markets without any government subsidy involved.
He further said that this sugar will be sold in the market by Punjab Government at prices much below the current retail and ex-mill rates.
Referring to a report which falsely claimed that the government had procured 2 million tonnes of sugar from the mills or that it is importing another million tonnes, Hammad Azhar said that the total sugar sold in Pakistan is around 5 to 6 million tonnes in a year and that the government is importing 150k tonnes only.
For the uninitiated, certain news reports have been doing the rounds claiming that the people of Pakistan lost Rs. 404 billion in wheat and sugar alone due to the wrong decisions of the government, as mafias from all sides took advantage of this government.
Copyright Mettis Link News
October 28, 2020: Pakistan and Afghanistan have signed Customs Mutual Assistance Agreement for establishment of Electronic Data Interchange.
The agreement was signed by Member (Customs-Operation), FBR Syed Muhammad Tariq Huda and Director General of Afghan Customs Department, Khalillulah Saleh Zad on behalf of their respective organizations in Islamabad.
During the signing ceremony, Afghanistan's Minister of Commerce and Industry, Nisar Ahmad Ghoriyani and Chairman FBR Muhammad Javed Ghani were also present.
The agreement will ensure reduced clearance time as well as optimum trade facilitation for import, export and transit cargo between the two countries.
It will also ensure reduced risk of evasion of duties and taxes and effective control over smuggling.
Radio Pakistan
October 28, 2020: European stock markets tanked at the open on Wednesday as investors fretted over speculation about the imminent introduction of tighter lockdown measures to combat soaring coronavirus infection rates, dealers said.
In initial deals, the benchmark Paris CAC 40 shares index nosedived 3.2 percent to 4,579.89 points, Frankfurt's DAX 30 tumbled 2.9 percent to 11,709.39 and London's FTSE 100 sank 2.2 percent to 5,605.59. Other markets were also down sharply.
"The double whammy of fears of further lockdowns crimping any tentative economic recovery in the UK and Europe, and a follow-through of overnight weakness from the US-based partly on the lack of further stimulus, have had a negative impact on investor sentiment," Interactive Investor analyst Richard Hunter told AFP.
AFP/APP
