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US CG Grace Shelton presides over Yum-MCR franchise agreement ceremony!

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M. M. ALAM

 

KARACHI:   Consul General Grace Shelton presided over the signing of a new master franchise agreement between Kentucky-based Yum! Brands and local partner MCR here today.Speaking on the occasion, Grace Shelton said: “Today we mark another successful American-Pakistani business partnership”. She expressed her contentment observing Pizza Hut’s growth as the largest restaurant chain here.

Aqueel Hasan told that with 74 outlets operational countrywide, Pizza Hut has become the first fast-food chain in Pakistan to go public.

President MCR Aqueel Hasan and General Manager Yum! Brands Middle East Randall Blackford signed the agreement.

The contract commits to an expansion over the next five years of as many as 150 new Pizza Hut units in Pakistan.

Yum! Brands (a Fortune 500-company) owns the restaurant brands KFC, Taco Bell & Pizza Hut. 

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Alleged forgery lands two Chinese nationals in FIA lock-up!

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MMA

KARACHI: Two Chinese nationals – Zhong Zhongmin and Li Chonhong, Country Manager and Deputy Country Manager of the Chinese firm M/s BGP (Pakistan) International – have been nabbed by FIA for submitting forged documents here today.

According to details FIA has registered a case against the  oil and gas surveying company, its clearing agent M/s IMT Co, customs personnel etc for forgery.

The accused had endeavored to get surveying equipment worth Rs. 677m cleared by means of fake papers.

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PSX: Bourse hardly managed to remain in the green on week’s 3rd trading day!

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KARACHI: As the profit-taking set in due to political noise, Benchmark KSE-100 Index closed at 40,591 points with an augmentation of only a little over 43 points.

Rs. 5.3b worth of 157m shares changed hands today. Value of the shares of 172 augmented, 155 plummeted, while 18 remained stagnant.

Pundits at the helm of affairs have insinuated that K-Electric was being acquired by Shanghai Electric.

As a result Power Generation and Distribution Sector led the trading of shares today followed by Technology and Communication Sectors . The three have traded 80.4m, 15.9m and 7.5m shares respectively.

The top five leaders of the trade of shares today were K-Electric Ltd., 77.1m shares (+10.11pc); WorldCall Telecom, 8.3m shares (+4.83pc);TRG Pak Ltd., 6.9m shares (+1.50pc); Sui Southern Gas, 5.4m shares (+2.93pc); Azgard Nine, 4.5m shares (-0.27pc).

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PSX: Bourse closes in the green as bulls shoo-off the bears on week’s second trading day!

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KARACHI: The bourse closed in the green (40,459) today when Benchmark KSE-100 Index gained 232 points.

Rs. 5.2b worth of 102m shares changed hands today. Value of the shares of 148 companies augmented, 145 plummeted, while 21 remained stagnant.

With trading of 15.8m shares Textile Spinning Sector led the market. Top five leaders of today’s trading were Unity Foods(R),13.0m shares (+26.60pc); TRG Pak Ltd., 7.3m shares (+1.84pc); Pak Elektron, 4.9m shares (+2.50pc); Dost Steels Ltd., 39.m shares (-1.27pc).

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