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Company News: Pakistan


The Board of Directors of ICI Pakistan Limited is pleased to announce the financial results for the fiscal year ended June 30, 2014. The Company posted profit after tax of Rs 1.7 billion which is 47% higher than the same period of last year.

Shahzad Textile Mills Limited (KSE: SZTM) is a public limited company incorporated in Pakistan under the Companies Ordinance, 1984. Its shares are quoted on Karachi and Lahore stock exchanges. The company, headed by Imran Afzal as CEO, registered office is situated at Lahore and is engaged in the productions of ring spun cotton and synthetic blended yarns.
Muhammad Asif Arif has over 25 years of experience in insurance, claims, reinsurance, management and finance! He is a qualified chartered insurer from the Chartered Insurance Institute, London. Besides, he is also an MBA from IBA, Karachi. Asif has also served on various committees of the Insurance Association of Pakistan and Karachi Insurance Institute.
A meeting of the Board of Directors of The Bank of Punjab was held on August 28, 2014. During the meeting, un-audited Financial Statements of the Bank for the half year ended June 30, 2014 were approved by the Board. During the first half of the year 2014, the Bank earned before tax profit of Rs 2,067 million as against Rs 1,542 million for the 1st half of year 2013 thereby registering a rise of 34 percent.
ImageDonald MacQueen has been Regional Director of Asia Pacific for TGI Fridays (TGIF) since the beginning of 2013, having previously looked after the Middle East for them since 2010. An industry veteran, Donald is from the UK and has been involved in various international restaurant businesses since 1992.
The Board of Directors of Standard Chartered Bank (Pakistan) Limited has declared an Interim cash dividend of 7.5 percent (Re0.75 per share) in respect of the half year ended June 30, 2014. Standard Chartered Bank (Pakistan) Limited has announced its H1 2014 results, according to which the bank continues to deliver consistent financial performance with nine percent increase in both revenue and net advances.
The Maple Leaf Cement (KSE: MLCF) is part of the Kohinoor Maple Leaf Group (KMLG), founded in early 1950s. Aside from the cement manufacturer, the group is also comprised of the Kohinoor Textile Mills Limited. MLCF has one of the largest cement plants in the country, with an installed annual capacity of 3.37 million tonnes of cement. The company was established as a joint collaboration between the West Pakistan Industrial Development Corporation and the Government of Canada. The plant is located at Daudekhel (Districk Mianwali) in the northern region.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln