Category Archives: Banking and Finance

PICS Expands Its Current Operations in Africa With Peter Brummer

IRVINE, CA–(Marketwire – Sep 5, 2012) – PICS is expanding its existing contractor screening and auditing business in Africa with the appointment of Peter Brummer. Peter comes to PICS’ African Business Development Team with extensive experience in Risk & Safety and Supply Chain management as well as new market development. Peter’s appointment provides added support

SBP conversion rates

KARACHI: The State Bank of Pakistan on Thursday announced the rates applicable for conversion into rupee of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar Bonds and profits thereon by all banks and for providing forward cover on Foreign Currency Deposits (Excluding FE 25 deposits) on March 30, 2012. The

Rawalpindi Chamber of Commerce and Industry (RCCI) holds business plan competition

RAWALPINDI: The President Rawalpindi Chamber of Commerce and Industry (RCCI) Jawed Bhatti said that industry-academia linkage is very essential to promote business activities in the country. RCCI is fully aware of the importance of youth in the national economic uplift and has signed Memorandum of Understandings with the 8 leading universities of the region. “Today’s

MCB Bank approves final cash dividend @30%, 10% bonus issue

Karachi: MCB Bank Board of Directors Tuesday approved final cash dividend @ 30% and 10% bonus issue after shareholders adopted audited financial statements of MCB Bank Limited and its subsidiaries at 64th Annual General Meeting. This is in addition to 90% interim cash dividend already paid in 2011. Chairing AGM to transact ordinary and special

World Bank to provide US $150m as additional financing for Social safety network project

Islamabad: The Government of Pakistan signed an agreement with the World Bank amounting to US$ 150 million as Additional Financing for Social Safety Net Project on Monday in the Economic Affairs Division (EAD). The objective of the project is to support the expansion and strengthen the administration and performance of Pakistan’s safety net with particular

WB approves $1.09 Billion to boost electricity supply and improve irrigated agriculture in Pakistan

ISLAMABAD: The World Bank’s Board of Executive Directors approved two projects totalling US$1.09 billion aimed at supporting Pakistan’s growth agenda for reducing poverty. The Tarbela IV Extension Hydropower Project will add power generation capacity of 1,410 megawatts, and the Punjab Irrigated Agriculture Productivity Improvement Project is geared toward maximizing water use efficiency for increased yield