Exactly two years after the spectrum auction of next generation mobile services (NGMS) that took place in April 2014, the federal government has now put some more spectrums on the shelf. In a policy directive dated April 26, 2016, the Federal Ministry of IT has asked the PTA to auction a block 10MHz paired spectrum in the 850MHz frequency band.
The inflation is clocking up as the food prices move up the hill; while the northward direction of oil prices is building up inflationary expectations. The CPI for April at 4.2 percent (Mar16: 3.9%) not only beats the analysts expectations, but is also the highest yearly recording since December 2014. The 1.55 percent change on monthly basis is a 21-month high. Had the base affect not been in favour of low inflation, CPI would have been even higher.
Punjab Oil Mills Limited (PSX: POML), one of the leading manufacturers of edible oils and fats in the country has reported a decline of two percent year-on-year in its revenues for 9MFY16. As per the notice to PSX on Monday; the company has also shown a two percent year-on-year decline in its earnings for the period.
The financial year 2016 is shaping out to be a great year for Pakistan Services Limited (PSX: PSL). The hospitality company has achieved this momentum on the back of growing middle class which is travelling more and staying in the hotels.
Weeks after Panama Leaks, the governments of United States and Panama have signed an agreement to share bank account information. That news has somewhat gotten under the radar here at home, but suffice to say that this is an important development in the global campaign against the tax haven culture.
Pakistan State Oil (PSX: PSO) had reported a hefty improvement in its earnings for 1HFY16. Though the latest quarter (3QFY16) has been weak, the OMC's overall financial performance in 9MFY16 has been satisfactory as well.
So far along the fiscal year 2015-16, NetSol Technologies Limited (KSE: NetSol) has performed way better. As per the company's announcement to the country's main bourse last Friday, NetSol had closed the nine months ending March 31, 2016 with a net loss of Rs17.5 million, which is a fraction (6 percent) of losses the Lahore-based software firm had posted in the same period last year.