Latest news with #Rs4.46
Business Recorder
29-05-2025
- Business
- Business Recorder
Bank Alfalah approves sale of Bangladesh operations to Bank Asia
The Board of Directors of Bank Alfalah Limited (BAFL), one of the largest commercial banks in Pakistan, has approved the sale of its Bangladesh operations to Bank Asia Limited, a private-sector commercial bank based in Dhaka. BAFL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. 'We are pleased to inform you that the Board of Directors of Bank Alfalah Limited, has accorded its approval to sell the bank's Bangladesh operations to Bank Asia Limited, Dhaka, Bangladesh. Bank Alfalah operations in Bangladesh: HNB decides not to proceed The transaction is subject to 'approval of the State Bank of Pakistan (SBP), the Central Bank of Bangladesh, and/or any other regulatory authority, compliance with necessary legal/procedural requirements, and the execution of definitive agreements,' read the notice. A Memorandum of Understanding (MoU) was signed on May 28, 2025. About the banks Incorporated in 1999, Bank Asia expanded operations with the purchase of Bank of Nova Scotia branches and Muslim Commercial Bank Limited's (MCB) Bangladesh operations. In 2001, it purchased the operations of Scotiabank which entered Bangladesh in 1999. BAFL is one of the largest banks in Pakistan, with a network of over 1,024 branches across more than 200 cities in the country, and an international presence in Afghanistan, Bangladesh, Bahrain, and the UAE. BAFL reported a profit after tax of Rs7.04 billion for the quarter ended March 31, 2025, translating into an earnings per share (EPS) of Rs4.46. The Board of Directors also declared an interim cash dividend of Rs2.5 per share i.e. 25%.
Time of India
12-05-2025
- Time of India
Roads Turn Into Wedding Venues, Trigger Gridlocks
1 2 3 4 Nagpur: As private lawn and hall rentals soar across Nagpur, more residents are turning to block public roads to host weddings, receptions, and birthday parties by erecting mandaps and pandals on carriageways. This cost-cutting trend emerged as the single largest cause of road-blocking violations in the city, accounting for nearly 40% of the total 1.11 lakh cases recorded between December 11, 2017, and April 30, misuse of public roads for personal celebrations not only disrupts traffic but also raises civic concerns. Among the 1,11,529 road-blocking violations registered by Nagpur Municipal Corporation (NMC) 's nuisance detection squad (NDS) during the said period, around 44,612 cases involved erecting unauthorised mandaps. The civic body imposes a Rs1,000 fine per offence and collected a staggering Rs13.07 crore in total — of which Rs4.46 crore is estimated to stem from mandap-related violations especially in densely populated areas, increasingly opt for public spaces to bypass expensive private venues. Civic officials admit that temporary structures often appear overnight, blocking traffic and footpaths for hours or days, especially during the wedding and festive data shows Dharampeth led with 15,157 cases, followed by Gandhibagh (14,470), Mangalwari (12,925), and Ashi Nagar (12,653). Tony areas under like Laxmi Nagar and Hanuman Nagar zones also reported over 11,000 cases each, indicating that the trend cuts across social alarming for authorities is the repeated nature of these violations. For many, the Rs1,000 penalty is seen as a cheaper alternative to venue rental. "Residents treat it as a fee rather than a deterrent," admitted a senior official. The NMC is now considering stricter measures, including steeper fines and legal action against habitual note of the surge, Municipal Commissioner Abhijeet Chaudhari directed the NDS to step up enforcement and raise awareness, particularly ahead of the summer wedding For Blocking Road. So What?Zones---Cases---Fines collectedLaxmi Nagar---11286---11333250Dharampeth---15157---20395950Hanuman Nagar---12980---12444600Dhantoli---8832---11672500Nehru Nagar---8652---11229175Gandhibagh---14470---16431700Satranjipura---6393---8390100Lakadganj---8175---9972450Ashi Nagar---12653---15422800Mangalwari ---12925---13448400(The cases include blocking of roads for erecting pandals, welcome arches, installing stages etc)
