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Company News: Pakistan


Dubai Bank PJSC, the majority shareholder of BankIslami (Pakistan) Limited (BIPL), has offered first refusal to Jahangir Siddiqui and Company Limited (JSCL) in connection with the sale of 14 percent BIPL stakes the foreign bank intended to sell.

EXIDE Pakistan Limited was incorporated in 1953 as a private limited company in association with Chloride Group Plc of United Kingdom. EXIDE ultimately got listed on the Karachi Stock Exchange in 1982. EXIDE Pakistan Limited is the largest manufacturer of lead acid electric storage batteries in Pakistan.
Meezan Bank has announced Rs 2.67 billion profit for the half year ended June 30, 2015. Meezan Bank has maintained its growth momentum and profitability record and declared excellent results for the half year. Profit after tax increased by 19 percent to Rs 2.67 billion. Earning per share of the bank remained Rs 2.67 (June 2014: Rs 2.25).
Siemens Pakistan Engineering Company Limited is amongst the KSE100 companies. Its history dates back to pre-partition days. Siemens first office of the subcontinent was established in Lahore in 1922. Its footprint in Pakistan started with first cable laying project in Karachi. The company was incorporated as Public Limited Company in 1963 and established a factory for motors and transformers in addition to the production of switchboards. Later in 1976, the firm introduced diesel generating sets.
Shield Corporation Limited (SCL) was established in 1975 as a public limited company under the umbrella of Premier group of companies. In the same year, the company was listed on the Stock Exchange at Karachi. The company is the market leader in baby care products in Pakistan. Besides baby care, the company has significant market share in the oral care segment in the country.
Khalid S. Subhani is the President of Engro Corporation Limited since 2015 and the CEO of Engro Polymer & Chemicals Limited until a new CEO for the company is announced by the EPCL Board.
Adam Dawood is the Country Manager at an online marketplace started by famous venture capital and e-commerce incubator firm, Rocket Internet GmbH. Adam Dawood holds an MBA degree from Tsinghua University, China and has been part of Pakistan's tech and start-up culture for a number of years now. He was one of the first members of the online shopping platform, the success of which allowed Rocket Internet to bring in more e-commerce ventures to Pakistan. After leaving Daraz, Adam founded his own company DYL Ventures, an organisation providing guidance and services to entrepreneurs and start-ups.


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln