Business Trends

No change in petroleum prices for first fortnight of March 2021

No change in petroleum prices for first fortnight of March 2021

The Government of Pakistan has decided that the prices of petroleum products will remain same for the first fortnight of March 2021.  Existing prices are petrol (motor spirit) PKR111.90 per liter, high speed diesel PKR116.07 per liter, light diesel oil PKR79.23 per liter and kerosene oil PKR80.19 per liter.

Dell announces financial results for its fiscal 2021 fourth quarter & full year

Dell announces financial results for its fiscal 2021 fourth quarter & full year

Dell Technologies announces financial results for its fiscal 2021 fourth quarter and full year, said a press release on Thursday. “Full-year revenue was a record $94.2 billion, up 2% over the prior year. The company generated record operating income of $5.1 billion, a 96% increase over the prior year, and record non-GAAP operating income of $10.8…

PM lays foundation-stone of Central Business District in Lahore

PM lays foundation-stone of Central Business District in Lahore

Prime Minister of Pakistan, Imran Khan laid the foundation-stone of the country’s first-ever Central Business District in Lahore, a commercial hub aimed at ensuring ease-of-doing-business, APP reported on Friday. “The concept will plan activities in accordance with the market requirements and as per the unique dynamics of each district. “Addressing at the foundation-laying ceremony, the…

Chairman SECP reaffirms commitment to facilitate businesses

Chairman SECP reaffirms commitment to facilitate businesses

The Securities and Exchange Commission of Pakistan (SECP), as part of its efforts to promote ease of doing business through meaningful stakeholder engagement, held an interactive virtual session with representatives of Overseas Investors Chambers of Commerce & Industry (OICCI), said a press release. “The session was chaired by the Chairman SECP, Aamir Khan, who briefed…

HP Inc. to acquire HyperX

HP Inc. to acquire HyperX

HP Inc. today announced a definitive agreement to acquire HyperX, the gaming division of Kingston Technology Company. The acquisition supports HP’s strategy to drive growth in its Personal Systems business, where gaming and peripherals are attractive segments. HyperX’s award-winning product portfolio spans a range of gaming peripherals, including headsets, keyboards, mice, mouse pads, USB microphones,…

Fisker and Foxconn set to collaborate on electric vehicle project

Fisker and Foxconn set to collaborate on electric vehicle project

Fisker Inc. – designer and manufacturer of the world’s most emotion-stirring, eco-friendly electric vehicles, and advanced mobility solutions – today announced it has entered into a MOU with Hon Hai Technology Group (Foxconn) supporting a project to develop a breakthrough electric vehicle, said a press release on Wednesday.  “Highlights of the proposed collaboration, codenamed ‘Project PEAR’…

Indus Motor launches ‘Toyota Smart Purchase’ portal

Indus Motor launches ‘Toyota Smart Purchase’ portal

Indus Motor Company (IMC) has introduced the Toyota Smart Purchase portal that allows customers the experience of making an on-line purchase from the company’s diverse product line up, sans a dealership visit, IMC said in its recent statement. “The Toyota Smart Purchase is the first ever end-to end on-line booking and payment system introduced by…

Adidas intends to resume dividend payments

Adidas intends to resume dividend payments

The adidas AG Executive Board decided to resume the company’s dividend payments. Subject to the approval by the Supervisory Board, the company will propose paying a dividend of € 3.00 per dividend-entitled share for the financial year 2020 to adidas shareholders at the Annual General Meeting (AGM) on May 12, 2021. The company said in…

Emirates offers exclusive content for travel agents on Emirates Gateway

Emirates offers exclusive content for travel agents on Emirates Gateway

Emirates will offer exclusive rich content and services for travel agent partners on its NDC-enabled direct connect platform, Emirates Gateway, starting from 01 July 2021. A surcharge on all bookings made via Global Distribution Systems (GDS) will also kick in on the same day. The airline said on Thursday. “This follows the launch of Emirates…

SBP allows exporters to make more types of payments via SFCAs

SBP allows exporters to make more types of payments via SFCAs

State Bank of Pakistan (SBP) allowed exporters of goods and services, including IT based services, to retain a certain portion of their exports proceeds in their Special Foreign Currency Accounts (SFCAs). The fund from these accounts, however, could be utilized for specified purposes only, said a press release on Friday. “Over time the types of…