Canada blocks bulk exports of few prescription drugs in response to Trump import plan

OTTAWA: Canada on Saturday blocked bulk exports of prescription drugs if they would create a shortage at home, in response to outgoing US President Donald Trump’s efforts to allow imports from Canada to lower some drug prices for Americans. “Certain drugs intended for the Canadian market are prohibited from being distributed for consumption outside of Canada if that sale would...

Unity Foods Limited all set to issue Rs3bn Sukuk to fund working capital requirements

An unlikely spinning mill decided to switch gears three years ago, and enter the edible oil industry three years ago. It then grew at an astonishingly rapid pace that surprised just about everyone: from Rs2.8 billion in fiscal year 2018, its revenue shot up a shocking 407% to Rs14 billion in fiscal year 2019.  And 2020 is proving no different....

Jahangir Khan Tareen resigns as the CEO of JDW Sugar Mills

Move appears to be geared towards addressing allegations of conflicts of interest, given Tareen’s political ambitions and career

Maymar Holdings to buy Haji Mohammad Ismail Mills in bid to become publicly listed

Real estate developer plans to buy the practically defunct textile mill turned consumer goods distributor to achieve public listing without the underwriting process

Interloop divests from Bangladesh operations

Despite the tariff-free access to the European market, the Faisalabad sock giant has yet to be able to make its Bangladesh operations profitable and decided to call it quits

Pakistan Oxygen to invest Rs6.3 billion to expand oxygen, nitrogen production

Adira Capital-backed company is gearing up to gain market share and dominate industrial gas market

After JS withdraws its bid, AKD wins battle to buy BIPL Securities

AKD’s rivalry with JS Group only deepens with the decision to buy firm originally owned by KASB

The six local brands leading the Pakistani skincare industry

After years of either using totkas or imported products, Pakistanis are finally trusting local skincare products - and they are willing to spend money on them.

Is Bykea a candidate for the Pakistani super-app?

Bykea may not be the first startup looking to stake a claim as Pakistan’s super-app, but it has been planning to be since before its inception

When advertisers knowingly violate intellectual property rights

In the wake of British American Tobacco being accused of violating intellectual property rights of Giraffe Pakistan, without seeking permission nor offering compensation or credit, Profit sought to understand the full extent of the unethical conduct in the advertising industry.

How to break Pakistan’s Dubai addiction

The rupture in relations between Pakistan and the UAE is bad – both for the country’s citizens and for the government – but it can also be an opportunity for Pakistanis to finally stop using Dubai as a financial haven

Poultry farmers raise concerns over rising input costs 

LAHORE: Poultry farmers on Saturday raised concerns over the rapid increase in raw material prices which may lead to reduced production and high priced poultry products in the long run.  In this regard, Pakistan Poultry Association (PPA) North Region Vice Chairman (VC) Raja Attique-ur-Rehman said, "The price for corn, which was Rs1,132 per maund in July, has shot up to...

AirSial expected to take flight in mid-December

KARACHI: AirSial, previously expected to launch flight operations in June 2020, has delayed its launch due to Covid-19 and restrictions on air travel. However, as domestic travel opens up, the airline is now set to embark on its first flight in mid-December. Profit has confirmed that the first aircraft, an Airbus A320-232, is on its way from Goodyear, Arizona to...

360 brick kilns in Kasur converted to zigzag technology

KASUR: As many as 360 brick kilns have been switched over to zigzag technology in Kasur district while other kilns owners were being forced to convert to latest technology. Talking to APP here on Saturday, Environmental Protection Agency (EPA) Assistant Director Noman Younis said the process of converting kilns to zigzag technology was in progress which would be completed by end of next...