Yousuf Weaving rejects default claims

MG News | December 18, 2024 at 04:25 PM GMT+05:00

0:00

December 18, 2024 (MLN): Yousuf Weaving Mills Limited (PSX: YOUW) has rejected allegations published in a media report on December 10, 2024, which stated that the company had been placed on the International Cotton Association's (ICA) defaulter list, barring it from participating in global cotton markets.

In an official statement, the company clarified that it has not defaulted on any transaction.

Instead, it attributed the ICA’s decision to a default by an associated undertaking.

The management of the company also mentioned that the ICA never formally communicated its decision to the company in writing.

The management reaffirmed its commitment to ethical business practices and maintaining its reputation in international markets.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	158,465.06 390.15M	-1.02% -1635.97
ALLSHR	96,559.16 950.27M	-0.99% -966.38
KSE30	48,334.92 161.42M	-1.07% -524.48
KMI30	229,055.35 110.24M	-1.35% -3133.53
KMIALLSHR	63,239.37 426.71M	-1.12% -719.42
BKTi	44,632.28 59.89M	-0.70% -315.76
OGTi	31,295.76 12.54M	-0.78% -245.37

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,970.00	111,595.00 109,770.00	-660.00 -0.60%
BRENT CRUDE	64.90	65.37 63.92	0.50 0.78%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.10 -1.35%
ROTTERDAM COAL MONTHLY	92.50	0.00 0.00	-0.20 -0.22%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.17	60.47 60.13	-0.31 -0.51%
SUGAR #11 WORLD	14.43	14.56 14.21	0.06 0.42%