Raised FY2021 guidance: (i) aircraft deliveries expected to reach ~120 units, revenues to exceed $5.8B; (ii) profitability increased to greater than $175M adjusted EBIT(1) and adjusted EBITDA(1) expected to be greater than $575M vs previously announced $100M and $500M, respectively; (iii) Free cash flow usage(1) now expected to be better than $300M for the year vs $500M(2) Business […]
Pakistan Exports to Key Destinations Increased in July 2021: Razak
Adviser to Prime Minister on Commerce, Abdul Razak Dawood, took to Twitter on Thursday to announce that Pakistan’s exports increased significantly to key destinations, including the US, UK, China, and Europe. He wrote, “Further to my tweet on exports in July 2021, we wish to inform that in terms of market, our exports increased to […]
SBP Slams Penalties of Over Rs. 500 Million on 8 Banks
The State Bank of Pakistan (SBP) has implemented its strict regulatory measures against banks that failed to comply with rules and regulations of the banking sector, as eight banks came under its penal actions of over Rs. 500 million fine in the second quarter of 2021. According to the SBP, the banks were slapped penalties […]
Rupee Posts Blanket Gains Against Major Currencies Two Days in a Row
The Pakistani Rupee (PKR) has posted blanket gains for the second day in a row against almost all the major currencies. The local unit improved by 24 paisas against the US Dollar (USD) today. Today (5 August), the PKR traded in the range of the lowest at Rs. 163.05 to the USD and the highest […]
Bank Alfalah Launches Alfa Payment Gateway to Facilitate E-commerce Payments
Pakistan’s premier financial institution, Bank Alfalah, has introduced a simple, secure, and innovative online payment gateway to facilitate the acceptance of online payment transactions for a variety of e-commerce needs. APG is a comprehensive solution for all digital payments needs that an online business might have. Alfa Payment Gateway’s (APG) key offerings include: Instant Digital […]
SECP Asks Companies To File Beneficial Ownership Declaration
The Securities and Exchange Commission of Pakistan (SECP) has asked companies to submit information of their ultimate beneficial owners (UBOs) through the filing of Form 45, required under Section 123A of the Companies Act, 2017. The SECP will not impose any penalty on the filing of overdue UBO Forms 45, if filed before August 13, […]