Articles for tag: increase, MNC, Multinationals, profit, profits, Repatriation, threefold, witness

March 28, 2024

KARACHI: Repatriation of profits and dividends by Pakistani multinational corporations (MNCs) to their overseas HQs rose 3.4 times to $759.2 million in the first eight months of the current financial year 2023-24, thanks to improved supply of foreign exchange in the domestic economy. Sectors leading earnings and dividend shipments included oil refiners, power and financials in the eight months. According to State Bank of Pakistan (SBP) data, repatriation fell to $225.4 million in the same period of the previous financial year 2022-23, after foreign exchange reserves dwindled to extremely low levels. In February 2024 alone, earnings and dividends reached $65

March 19, 2024

News Desk

Sports

What’s next for the Premier League’s profit and sustainability rules?

MANCHESTER: Nottingham Forest entered the Premier League’s relegation zone after being deducted four points for breaches of financial rules, which are becoming a major issue in the world’s richest league. Everton also suffered a six-point deduction, down from 10 on appeal, to leave the Toffees fighting to extend their 70-year top-flight run. The Premier League now faces the dilemma of deciding on relegation in the courts after the end of the season, with the deadline for the appeals process coming five days after the final day of the campaign. AFP Sport examines the rules, why they are often criticized and

March 15, 2024

News Desk

Lifestyle

Viral French Fries Seller Reveals 30-Day Net Profit

With an investment of Rs 50,000, Arbaz Abbasi – Eaglelyst on Instagram – started the journey of setting up his french fries business. Since day one, Arbaz has been keeping his audience updated with relevant updates. His daily sales were available to his viewers, allowing a fascinating insight into the world of small food-related businesses and their financial potential. Now, Arbaz has finally revealed the net profit margin after waiting for a whole month. Taking to Eaglelyst’s Instagram page, Arbaz shared a video. The accompanying caption read: “Day 30 marks a major milestone in my French Fries journey – I’m

March 13, 2024

News Desk

Business

Banks achieve 86% profit growth.

KARACHI: Pakistan’s listed banks reported an extraordinary 86% rise in net profits in the year ended December 2023, boosting total profits to a record high of Rs572 billion amid a season of higher interest rates in the country. Banks managed to achieve record high profits despite the economic slowdown and poor performance of industrial activities in the country. In a brief comment, Topline Securities research analyst Sunny Kumar said, “This gain was mainly driven by a significant rise in net interest income (NII) amid high interest rates and balance sheet growth.” In US dollar terms, listed banks’ profits rose 36%

January 12, 2024

News Desk

Business

Sugar industry sees 78% profit growth in 23rd year

Islamabad: Sugar millers reported a record 78% rise in profits in the 2022-23 financial year. The listed sugar sector has seen a significant rise in profitability for the financial year 2023 (FY23), which runs from October 2022 to September 2023. The sector’s net profit grew by 78% year-on-year (at year). reaching a record high of Rs 22 billion. This remarkable increase in profits is mainly attributed to the rise in sugar prices, leading to higher gross margins. In addition, the ethanol segment, a by-product of sugar, also showed improved performance in the 23rd year. This improvement is due to favorable

Multinationals witness a threefold increase in repatriation of profits

What’s next for the Premier League’s profit and sustainability rules?

Viral French Fries Seller Reveals 30-Day Net Profit

Banks achieve 86% profit growth.

Sugar industry sees 78% profit growth in 23rd year

Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success

Munir and Naqvi Join Makkah Pact Talks in Tehran

Iran Says the Border Is Open as Pakistan Ships LPG by Sea