Saturday, December 5, 2020

UBL

Video: UBL came under severe criticism from its account holders

The privatized bank UBL came under severe criticism from its account holders when it did not only blocked their accounts on the pretext of biometric process but even refused to clear their Cheques following completion of the process at...

MSCI Semi-Annual Index Review (SAIR) May’19

Pakistan’s equity market has recorded a decline of 9.84% or 4,015pts (USD based negative return of 11.9%) since the last MSCI quarterly review back in Feb’19. Negative performance of the local bourse is attributable to lack of direction on the...

KSE-100 ended in red on funds selling, FATF concerns

The benchmark KSE-100 of Pakistan Stock Exchange (PSE) on Friday shed 54 points or (-0.14%) closed at 40,016 on Funds selling and FATF concerns. With a lack of fanfare and excitement, the market finally ended the week in red. Banking...

UBL earning shrinks by 41% YoY

UBL announced earnings on Wednesday for CY18 at PKR 15.5bn (EPS: PKR 12.65/share), depicting a YoY decline of 41%, above expectations. Ex-pension liability, earnings have contracted ~28% YoY primarily on account of heavy provisioning booked during the year (+5x...

UBL surrenders New York branch license

United Bank Limited has surrendered its New York branch license to the NY state department (NYDFS) on January 28, in accordance with Section 605.11 (c) of the liquidation of NY branch.   The management in a letter to Pakistan Stock Exchange...
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Russian Ambassador: We still have time to extend the START treaty with America

Russian Ambassador to Washington Anatoly Antonov announced that there is still enough time to extend the new "START" treaty on reducing the nuclear arsenal...

Christmas in Italy: Movement between regions banned amid high COVID toll

Italy announced a ban on movement between local areas during the Christmas holidays; In order to contain the spread of the Coronavirus (Covid-19), the...

NATO: Early withdrawal could expose Afghanistan to terrorism

NATO said that an early withdrawal from Afghanistan could leave the country a haven for international terrorism. The Secretary-General of NATO, Jens Stoltenberg, announced that...

Trump’s European allies resisted sanctions on Iranian banks

A diplomatic correspondence showed that Germany, France, and Britain urged the administration of US President Donald Trump in late October to reconsider imposing new...