Latest news with #NBP
Business Recorder
12 hours ago
- Business
- Business Recorder
Jubilee Spinning & Weaving Mills says soon to receive NOC from NBP to change company name
Jubilee Spinning & Weaving Mills Limited announced on Monday that it was in the process of soon receiving No Objection Certificate (NOC) from the National Bank of Pakistan (NBP) in order to change the name of the company. The company shared the development to the Pakistan Stock Exchange today. It said that getting the NOC was the only remaining requirement for the approval of Form-26 related to change of company name. 'As soon as we receive the NOC from NBP, we will submit the same to the SECP and then apply for Certified True Copy of Memorandum of Association to the SECP.' Further progress report will be submitted to you within 15th day of every quarter ended as per requirement of the listing regulations of the Exchange, read the notice to the bourse. Jubilee Spinning & Weaving Mills Limited was incorporated in Pakistan as a public limited company on 12 December 1973 under the Companies Act, 1913 (Now the Companies Act, 2017). The principal objective of the company is to engage in the business of manufacturing and selling of yarn, buying, selling and otherwise dealing in yarn and raw cotton.
Express Tribune
3 days ago
- Business
- Express Tribune
'BRI states must adopt diversified supply chain'
Listen to article In the current environment, the global supply chain has been continuously upgrading digitally, ie, achieving innovative and sustainable development, which is also a major responsibility that Pakistan and China should shoulder together, remarked National Bank of Pakistan (NBP) Beijing Office Chief Representative Shaikh Muhammad Shariq. Speaking at a panel discussion on supply chain services held during the 3rd China International Supply Chain Expo, the chief representative pointed out that the key link is to provide complete localised financial services and reduce conflicts between traders, which is crucial for both large leading enterprises and small startups. "The global supply chain must take a diversified path, not only for industrial powers like China, but also for all countries participating in the Belt and Road Initiative (BRI), and of course Pakistan, which is jointly developing CPEC (China-Pakistan Economic Corridor)." Shariq emphasised, "The optimised financing mechanism will allow us to have smoother capital flow and reduce our reliance on a single path, helping us to seek better financing strategies." Talking specifically about financial links between China and Pakistan, Shariq elaborated on NBP's efforts. "In 1981, we entered the Chinese market and opened a representative office in Beijing. Since then, we have been helping Chinese companies in different fields that are interested in doing business in Pakistan." "From a deeper perspective, policymakers in China and Pakistan have established very deep connections to simplify all financial-related processes, assisting us to confidently provide comprehensive services in the current complex and changing international environment, solving financial problems and of course the most important liquidity problem for enterprises. In a nutshell, a very stable supply chain ecosystem allows better cross-border cooperation between our two countries."
Business Recorder
5 days ago
- Business
- Business Recorder
NBP Aitemaad Islamic branch in DHA Phase-II inaugurated
KARACHI: NBP Aitemaad Islamic Banking unveiled the new premises of Islamic Banking Branch in DHA Phase-II Karachi, catering to the diverse financial needs of the local business community while ensuring accessible and convenient banking services for the residents in the surrounding communities. By inaugurating this branch, NBP Aitemaad Islamic Banking reinforces its commitment to fostering economic growth and prosperity in the area. Rehmat Ali Hasnie, President & CEO NBP, Fouad Farrukh, SEVP & Group Chief, AIBG and Karim Akram Khan, SEVP & Group Chief, LCMG inaugurated the branch. Respected customers of the branch also graced the inauguration ceremony. The branch's opening signifies NBP Aitemaad Islamic Banking commitment towards the business community and providing exceptional banking services to all individuals. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
Go Cashless: cattle markets settle Rs4.66bn via 64,553 online transactions on Eid-ul-Adha 2025
KARACHI: The State Bank of Pakistan (SBP) reported on Wednesday that cattle markets had made 64,553 online payments worth Rs4.656 billion to settle transactions for sacrificial animals among buyers and sellers on Eid-ul-Adha that fell in the first week of June this year. The number of transactions in terms of volume and value both spiked compared to Eid-ul-Adha 2024 when buyers and sellers made a total of 13,000 digital transactions valued at Rs560 million, a figure that the central bank gave in a statement earlier this year. SBP launches nationwide 'Go Cashless' campaign for Eid-ul-Adha According to the SBP statement on Wednesday, the rise in transactions was the result of the central bank's campaign titled 'Go Cashless' for the cattle markets in 2025. 'With the participation of 24 partner banks, the campaign was successfully implemented in 54 major cattle markets across Pakistan.' To support the Go Cashless campaign, the SBP had temporarily eliminated daily transaction limits and the per-month limit had been increased to Rs5,000,000 for Branchless Banking Level-1 Accounts, Asaan Account/Asaan Digital Account, and Merchant Accounts for the period (May 19 to June 15, 2025). Launched before Eid-ul-Adha (May 20 to June 6), the Go Cashless campaign aimed to promote Digital Financial Services (DFS) and reduce reliance on cash transactions in urban cattle markets. 'This campaign was highly appreciated by the buyers and sellers in the cattle markets, as it reduced their reliance on cash,' the central bank said. Eid-ul-Adha 2025: NBP installs ATM booth at Karachi cattle market SBP, Banking Services Corporation (SBP BSC), hosted an award ceremony on Wednesday in Karachi to honour high-performing banks for their contributions to the Go Cashless in Cattle Markets Campaign 2025. In recognition of the regional impact of campaign, SBP field offices also organised recognition ceremonies for participating banks in their respective regions. Digital payment systems play a vital role in modern economies by offering transparency, reducing fraud risks, and providing secure, convenient, and inclusive access to financial services. 'Initiatives like Go Cashless are crucial in building trust and driving the adoption of digital platforms among a wide range of users, including livestock buyers and sellers,' the central bank said.
Irish Post
13-07-2025
- Business
- Irish Post
Premises on remote Achill Island in Co. Mayo get high-speed broadband connection
PREMISES on the remote Achill Island in Co. Mayo have been connected to high-speed fibre broadband as part of a national rollout. Main build works on the island infrastructure are now complete, hooking up more than 2,500 homes, farms and businesses to high-speed broadband. Residents will now have the same access to 2GB broadband as the 380,000 premises currently connected across the country. National Broadband Ireland (NBI), the company rolling out the National Broadband Plan (NBP), hosted an event on the Island this week to mark the first connections on Achill. "No premises is too rural or too remote and we're proud to be here on Achill Island — one of 27 offshore islands in our rollout — to mark the availability of our world-class fibre network," said NBI Founder and Chairman David McCourt. The NBP is one of the largest State infrastructure projects since rural electrification and is the largest-ever telecommunications project undertaken by the State. The rollout area accounts for 23 per cent of the population in approximately 564,000 homes, farms, schools and businesses. The project will radically change the broadband landscape across the country to ensure that every premises has access to high-speed broadband, no matter where they are. Once finished, all parts of Ireland will have access to a modern, reliable broadband network, able to support all communications, information, education and entertainment requirements. 'A real game-changer' "The delivery of fibre broadband infrastructure to Achill Island is a significant milestone for NBI, and we are delighted to have end customers already connected and enjoying the benefits of reliable, high-speed broadband," said TJ Malone, CEO of NBI. "This is a major step forward for digital connectivity, helping people stay connected, work remotely, stream seamlessly and access vital online services." John Barrett, the owner of Lilí Bán Café on Achill, has connected to the new network through the provider Westnet and believes the rollout will boost business on the island. "I opened Lilí Bán Café in the summer of 2021 and soon realised that running a business on Achill Island has its challenges," he said. "Without fibre broadband, the weather often impacted the signal and reliability of the connection. "Since connecting to NBI's fibre with Westnet, it's been a real game-changer. At the café, we can now manage online bookings and operate a card machine. "It's exciting to see a new wave of business starting on the island and fibre connectivity has definitely played a big part in this."
