Archive for October, 2011
by Ali Ahmad
The Canadian Office of the Superintendent of Financial Institutions (OSFI), an independent agency of the Government of Canada that supervises and regulates Canadian banks, insurers, and federally registered private pension plans, has issued a letter in which it concludes entities which it regulates should not early adopt many standards recently issued by the IASB.
n making its decision, the OSFI considered a number of factors such as industry consistenc
October 31, 2011
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Press Release
[caption id="attachment_3530" align="aligncenter" width="300" caption="Center of Financial Excellence (CFE) is one of the lead market player in Accountancy education in Pubjeb"][/caption]
Following its vision, “to be the first choice for lifelong learning for all”, CFE is committed to provide quality education through its three peers, College of Accountancy & Finance, College of Commerce & Science and Institute of Management Sciences.
Since its in
October 31, 2011
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By Sidrah Roghay
Ali Minhas once had long, spiky hair. Then he began studying chartered accountancy. He now sports a crew cut, because while studying he would pull out chunks of his hair from his head. The first challenge for him three years back was to learn how to sit straight in the class. He recalls how his teacher would lecture him about the fact that “CA students have no social life”. “If there are two things common to all CA students, it is that they don’t know how t
October 28, 2011
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By Maliha Sheikh (Lahore)
This is unusual. Not the profits but the venue to announce it.
Fauji Fertilizer Bin Qasim, a giant in fertilizer sector, profits more than doubled to Rs7.2 billion in the first nine months of 2011 on the back of higher sales of the commodity, according to a notice sent to the Karachi Stock Exchange on Wednesday.
The board of directors in a meeting held in Madrid, Spain also announced interim cash dividend of Rs3 per share, taking
October 27, 2011
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By Maliha Sheikh (Lahore)
[caption id="attachment_3503" align="aligncenter" width="300" caption="Many market players are now viewing auto industry as an oligopoly who earning unjustified profits"][/caption]
Pakistan's corporate results are surprising almost everyone, including foreign investors. They are growing despite economic, political and security turmoil.
Pak Suzuki, a giant in Pakistan's auto market posted better than expected results. Company’s net p
October 27, 2011
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News Desk
The banking sector widely known as the money making machine in the market gave another strong performance as MCB Bank profits grew 24%, UBL grew 34% while Bank Alfalah bottom-line doubled.
[caption id="attachment_3496" align="aligncenter" width="300" caption="MCB Bank profits firmed to Rs15.53 billion in the first nine months of 2011 as interest income rose by almost Rs9 billion."][/caption]
MCB Bank profits firmed to Rs15.53 billion i
October 25, 2011
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Press Release
The Chartered Institute of Management Accountants (Cima), held its second convocation in Pakistan at the Pearl Continental Hotel, Karachi on Wednesday.
[caption id="attachment_3489" align="aligncenter" width="300" caption="CiMA is gradually catching up in Pakistan"][/caption]
Youth Affairs Minister Syed Faisal Ali Subzwari and CIMA Regional Director Bradley Emerson attended the ceremony, themed ‘Personal power, Professional progress’. It signifies the choice
October 25, 2011
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News Desk
Metro Cash and Carry (MCC), which was long in merger talks with Makro-Habib, is going to take over all administrative operations of Makro from January to extend its financial arm into what, according to experts, is a market of over $42 billion a year.
[caption id="attachment_3481" align="aligncenter" width="300" caption="first of its kind Retail Merger in Pakistan"][/caption]
Sources familiar with the matter confirmed that the deal bet
October 24, 2011
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By Maliha Sheikh (Lahore)
Allied Bank witnessed strong growth of 32% to Rs7.79 billion, in line with market expectations, during the first nine months of 2011, according to consolidates results sent to the Karachi Stock Exchange on Thursday.
It would be interesting to note that banking sector, despite economic woes, has been reporting stronger results in this quarter.
Allied Bank, one of the big five bank of the country, managed to do better than the bankin
October 20, 2011
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By Maliha Sheikh (Lahore)
Nishat Group plans to enter consumer goods business by starting milk production this year, Chief Financial Officer Inayatullah Niazi said.
“We have bought land outside Lahore and after beginning milk production, we will add other products to the line,” Niazi toldBloomberg news service on Wednesday. He didn’t provide more details on the planned products.
The government plans to spend Rs3.5 billion to improve the dairy industry
October 19, 2011
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